Ninepoint

Alternative
Income
PRODUCT COMPARISON
 **RIVERROCK MORTGAGE
NINEPOINT CREDIT INCOME NINEPOINT ALTERNATIVE NINEPOINT TRADE AIP CONVERTIBLE PRIVATE NINEPOINT CANADIAN NINEPOINT-TEC NINEPOINT-MONROE U.S.
INVESTMENT CORPORATION
OPPORTUNITIES FUND INCOME FUND FINANCE FUND DEBT FUND LP^^ SENIOR DEBT FUND PRIVATE CREDIT FUND PRIVATE DEBT FUND
(MIC)^
•L
 ong/short credit fund •M
 ulti-strategy approach to •S
 enior secured asset based • 100% residential mortgages in • Senior secured convertible •S
 enior secured, asset based • Senior secured, asset based • Lends to middle-market
primarily invested in North alternative credit investing loans to small-middle market Southern Ontario loans with the ability to convert loans to private and public loans to private and public companies starting at
America companies to publicly traded common Canadian companies Canadian and U.S. companies US$3 million EBITDA
•M
 anaged solution tactically • Growing market due to
shares at a discount •F
 ocuses on asset-level • Active value creation though • Diverse portfolio across
•F
 ocused on total return allocates to complementary •S
 hort term financing for increased mortgage lending
without excess duration or private debt, liquid credit, and working capital to support restrictions by traditional • Generate synergies and value overcollateralization based on involvement in driving industries
concentration of lower quality opportunistic special situation revenue growth opportunities lenders by assisting borrowers on liquidation value with exposure operational changes and • Manager in the U.S. with
securities strategies in a liquid vehicle growth and acquisition plans to Canadian defence and providing actionable strategic 15 years experience and over
• Experienced U.S. based Advisor • Portfolio duration of less than
security establishment advice 1200 transactions completed
Fund Highlights  oncentrated in higher yielding
•C •S
 trategy focuses on capital with over US$1.7B in AUM 1 year • Convertible loans allow for
investment grade credit with preservation and income investors to: •O
 ver 110 years of collective • Potential opportunities for • Ninepoint-Monroe U.S. Private
 iversified portfolio of short
•D • Maximum 80% Loan-to-Value
limited exposure to high yield generation experience in Canadian middle capital appreciation through Debt Fund also available as
duration trade & receivables ratio offers margin of safety •P
 articipate on upside to
debt and preferred securities market lending equity participation and Canadian $ Hedged version1
•A
 ccess to exclusive private finance: on readily marketable urban/ growing industries in rising
warrants
•O
 verlay strategy aims to debt strategies in a managed suburban real estate markets
• 1 00% insured factoring
generate income from a solution structure • Private equity approach to debt
accounts •P
 rotect principal and receive
portfolio of credit securities interest on loans in falling
while actively limiting interest •9
 0% insured supplier chain Launched March 2020.
1
markets
rate risk financing See ninepoint.com for details.

Loan Type North American credit securities Multi-strategy North American Trade Finance Canadian Residential Real Estate North American Small Cap Canadian Middle Market North American Middle Market U.S. Lower Middle Market
Advisor N/A N/A Highmore Group Advisors N/A AIP Asset Management Waygar Capital Third Eye Capital Monroe Capital
Individual Loan Target
5-8% Based on underlying funds 8-10% 7.75% 8-9% 8-10% 9-13% 10-13%
Return*
Individual Loan Target TTM* 0-60 months Based on underlying funds 1-4 months 12 months 12-18 months 12-24 months 12-36 months 48-60 months
1st Mortgages: up to $750,000
Typical Loan Size N/A Based on underlying funds N/A $1MM-$10MM $5MM-$30MM $5MM-$100MM < $100MM
2nd Mortgages: up to $350,000
Inception Date January 16, 2013 August 31, 2016 April 9, 2019 August 1, 2014 July 1, 2016 October 1, 2017 June 30, 2016 April 9, 2019
$10,000 CAD $25,000 USD accredited
Minimum Initial Investment $5,000 accredited $5,000 accredited $25,000 accredited $25,000 accredited $5,000 accredited $10,000 accredited
$10,000 USD accredited $35,000 CAD
Minimum Subsequent
$5,000 $5,000 $5,000 $5,000 $10,000 $5,000 $5,000 $5,000 USD
Investment
Valuations Monthly Monthly Monthly Monthly Monthly Monthly Monthly Quarterly
Settlement Period
T+2 T+22 T+15 T+2 T+2 T+12 T+20 T+40
(Business Days)
Variable. Net income paid Variable. Net income paid
Distributions Monthly Monthly Monthly N/A See OM page 33 Quarterly
monthly (Series T). monthly.
Redemptions (Calendar Days) Monthly with 30 day notice Monthly with 30 day notice Monthly with 90 days notice Monthly with 180 days notice Monthly with 180 days notice Monthly with 180 day notice Monthly with 120 day notice Quarterly with 180 days notice
Redemption Request Form
No No No Yes Yes No No Yes
Required
Trailer 0.90% (Series B) 1.00% N/A 1.00% 1.00% 1.00% 1.00% N/A
24 months (5% penalty year 1,
Minimum Investment Term None None None None 1 year (2% penalty) 1 year (2% penalty) 24 months
1% in year 2)
Series B: 1.75% Series A: 2.00% Series N: 2.25% Series A: 2.00% Series A: 2.45% Series A: 2.45%
Management Fee Series F: 1.65%† Series F: 1.65%†
Series F: 1.00% Series F: 1.00% Series F: 1.25% Series F: 1.00% Series F: 1.45% Series F: 1.45%
Performance Fee See OM page -v- None 20% over 7% preferred return†† None 20% over High Water Mark 20% over 7% preferred rate†† 20% over 8% preferred rate††† 20% over 7% preferred rate††
Registered Plan Eligible Yes Yes Yes Yes No No Yes No
Auditor KPMG LLP KPMG LLP KPMG LLP Deloitte LLP KPMG LLP KPMG LLP KPMG LLP KPMG LLP
Series A: NPP 630
Series B: NPP 509 Series F: NPP 631 Series F $CAD: NPP 910 Class F: DON 913 Series A: AIP 100 Series A: NPP 800 Series A1: NPP 761 Series F $USD: NPP 905
Fund Codes
Series F: NPP 507 Series T: NPP 633 Series F $USD: NPP 904 Class N: DON 914 Series F: AIP 200 Series F: NPP 801 Series F 1: NPP 762 Series F $CAD: NPP 907
Series FT: NPP 634

^ The RiverRock Mortgage Corporation has entered into an agreement with Ninepoint Partners LP (“Ninepoint”) pursuant to which Ninepoint will distribute the Class N and Class F Non-Voting Common Shares offered hereunder.
^^ AIP Asset Management has entered into an agreement with Ninepoint Partners LP (“Ninepoint”) pursuant to which Ninepoint will distribute the Class A and Class F Non-Voting Common Shares offered hereunder for AIP Convertible Private Debt Fund LP (the “Fund”).
* The Advisor aims to select loans within this target yield and Term to Maturity. This is no indication that they will be able to select the loans with the target yield or any indication on the actual performance or duration of the fund.
** RiverRock Management Inc., is licensed as a Mortgage Administrator through FSCO (Financial Security Commission of Ontario). Mortgage Administrator License # 12514. The Corporation and the Administrator have retained Ninepoint Partners LP (“Ninepoint”), to provide exempt market dealer, distribution and marketing services for the Corporation on an exclusive basis.
† 1.55% of 1.65% is charged at the underlying investment level.
†† Fund returns between 7% and 8.75% are payable to the General Partner as a Performance Allocation plus applicable taxes. In addition, 20% of returns in excess of 8.75% are payable to the General Partner as a Performance Allocation.
††† Fund returns between 8% and 10% are payable to General Partner as a Performance Allocation plus applicable taxes. In addition, 20% of returns in excess of 10% are payable to the General Partner as a Performance Allocation.
 NINEPOINT ALTERNATIVE INCOME COMPARISON GUIDE

Learn more about

www.ninepoint.com
RiverRock Management Inc., is licensed as a Mortgage Administrator through FSCO (Financial Security Commission of Ontario). Mortgage Administrator License # 12514. The Corporation and
the Administrator have retained Ninepoint Partners LP (“Ninepoint”), to provide exempt market dealer, distribution and marketing services for the Corporation on an exclusive basis.

Readers are advised that the material herein should be used solely for informational purposes. RiverRock Mortgage Investment Corporation (RiverRock) does not purport to tell or suggest
which investment securities members or readers should buy or sell for themselves. Readers should always conduct their own research and due diligence and obtain professional advice
before making any investment decision. RiverRock will not be liable for any loss or damage caused by a reader’s reliance on information obtained in any of our presentations, special reports,
email correspondence, or on our website. Our readers are solely responsible for their own investment decisions.

The risks associated with investing in a Fund depend on the securities and assets in which the Fund invests, based upon the Fund’s particular objectives. There is no assurance that any Fund
will achieve its investment objective, and its net asset value, yield and investment return will fluctuate from time to time with market conditions. There is no guarantee that the full amount
of your original investment in a Fund will be returned to you. The Funds are not insured by the Canada Deposit Insurance Corporation or any other government deposit insurer. Please read
a Fund’s prospectus or offering memorandum before investing. Ninepoint Partners LP is the investment manager to the Ninepoint Funds, (collectively, the “Funds”). Important information
about these Funds, including their investment objectives and strategies, purchase options, and applicable management fees, performance fees (if any), and expenses, is contained in their
prospectus or offering memorandum. Please read these documents carefully before investing. Commissions, trailing commissions, management fees, performance fees, other charges
and expenses all may be associated with investing in the Funds. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. This
communication does not constitute an offer to sell or solicitation to purchase securities of the Funds. The information contained herein does not constitute an offer or solicitation by anyone
in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective
investors who are not resident in Canada should contact their financial advisor to determine whether securities of the Funds may be lawfully sold in their jurisdiction. The information
provided is general in nature and is provided with the understanding that it may not be relied upon as, nor considered to be, the rendering or tax, legal, accounting or professional advice.
Readers should consult with their own accountants and/or lawyers for advice on the specific circumstances before taking any action.
Ninepoint Partners LP, Royal Bank Plaza, South Tower, 200 Bay Street, Suite 2700, Toronto, ON M5J 2J1, Toll Free: 1.866.299.9906, www.ninepoint.com
DEALER SERVICES: CIBC Mellon Tel. 416.643.3175 Toll Free: 1.866.992.4991