·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Principal
investment objective of the Fund is to seek total return through investment in
Scotch whisky casks and bottles, with an aim to create
a diversified and broad-based <a href="https://thecaledonianmaltfund.com">investment portfolio</a> that provides both
investment stability as well as strong upside potential.

·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Fund will make direct investments
into high quality investment grade premium casks from reputable and well
established distilleries to construct an Investment Portfolio covering the
maturation spectrum.

·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assets will be stored and matured in UK
Government regulated, HMRC licensed and registered bonded warehouses, ensuring
professional storage and comprehensive insurance, while navigating custody
related compliances.

·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Investments and exits
will be driven
by extensive data analysis and inputs from primary and secondary markets,
leveraging fund’s proprietary industry network, unique expertise in portfolio
management, yield generation, and value creation to maximize returns.

·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Fund is registered with the Bermuda
Monetary Authority under the Investment Funds Act as a <a href="https://thecaledonianmaltfund.com">Professional Closed Fund</a>
with a standard GP: LP structure. Investment fund structure ensures an
institutional approach to whisky investment with focus on value maximization
and risk management.

Commenting on the launch of the Fund, Roderick Sampson, Chairman of the
Investment Advisory Committee, said – We are proud and excited to launch
our investment fund through Bermuda and the BMA, which provides an ideal home
for the <a href="https://thecaledonianmaltfund.com">Caledonian Fund</a>. Through the Fund, we will continue to seek out
opportunities in the global Scotch whisky industry and thereby create long term
value for our investment partners and support the growth of our broader
stakeholders.

Mike Webb,
Member of the Investment Advisory Committee, added - “Investment in Scotch whisky is getting
mainstream as an alternative investment, as the industry is getting
institutionalized. Whisky casks have historically delivered value and
non-correlated returns on investment and investors can consider an allocation
for the investment portfolio to build generational wealth over the long term.”

“CMF will operate as a regulated investment fund
with compliance to relevant regulations. The Fund will bring institutional
capability &amp; market intelligence and leverage our proprietary network to
generate better risk-adjusted returns for our investors. We have put together a
fund team having deep network and insights of the Scotch whisky industry, asset
management and alternative investments. We understand the unique challenges and
opportunities to create value in this competitive market” said&nbsp;Amit
Tripathy, Fund Manager.

Advisor to
the Fund, Doug McIvor said “The Scotch whisky industry has evolved over the
recent years, creating opportunities for institutional investors to realize
substantial returns. CMF’s commitment to long-term growth through innovation
and entrepreneurial thinking will shape a future that meets the evolving needs
of our partners and the markets we serve.”

Sarah Demerling, Partner at Walkers
(Bermuda) Limited, legal counsel to the Fund
said "Bermuda is a perfect location to establish this structure and
strategy and we are delighted to have worked with the CMF team so far and
continue to wish them success."

The Caledonian Malt Fund L.P. (“CMF” or the "Fund"), the alternative investment fund focused on investing into Scotch whisky, announced its launch after securing regulatory approval from the Bermuda Monetary Authority (the "BMA"). The Fund will invest into a diversified portfolio of premium and investment grade Scotch whisky drawn from the most reputable distilleries of the whisky producing sub-regions of Scotland. Highlights:·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Principal
investment objective of the Fund is to seek total return through investment in
Scotch whisky casks and bottles, with an aim to create
a diversified and broad-based <a href="https://thecaledonianmaltfund.com">investment portfolio</a> that provides both
investment stability as well as strong upside potential.·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Fund will make direct investments
into high quality investment grade premium casks from reputable and well
established distilleries to construct an Investment Portfolio covering the
maturation spectrum.·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Assets will be stored and matured in UK
Government regulated, HMRC licensed and registered bonded warehouses, ensuring
professional storage and comprehensive insurance, while navigating custody
related compliances.·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Investments and exits
will be driven
by extensive data analysis and inputs from primary and secondary markets,
leveraging fund’s proprietary industry network, unique expertise in portfolio
management, yield generation, and value creation to maximize returns.·&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Fund is registered with the Bermuda
Monetary Authority under the Investment Funds Act as a <a href="https://thecaledonianmaltfund.com">Professional Closed Fund</a>
with a standard GP: LP structure. Investment fund structure ensures an
institutional approach to whisky investment with focus on value maximization
and risk management.<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/356276d7-5b27-49ca-9d5f-648a58fc8000/public" alt="Regulated fund structure with strong governance, external audits, investor reporting." />Commenting on the launch of the Fund, Roderick Sampson, Chairman of the
Investment Advisory Committee, said – We are proud and excited to launch
our investment fund through Bermuda and the BMA, which provides an ideal home
for the <a href="https://thecaledonianmaltfund.com">Caledonian Fund</a>. Through the Fund, we will continue to seek out
opportunities in the global Scotch whisky industry and thereby create long term
value for our investment partners and support the growth of our broader
stakeholders.Mike Webb,
Member of the Investment Advisory Committee, added - “Investment in Scotch whisky is getting
mainstream as an alternative investment, as the industry is getting
institutionalized. Whisky casks have historically delivered value and
non-correlated returns on investment and investors can consider an allocation
for the investment portfolio to build generational wealth over the long term.”“CMF will operate as a regulated investment fund
with compliance to relevant regulations. The Fund will bring institutional
capability &amp; market intelligence and leverage our proprietary network to
generate better risk-adjusted returns for our investors. We have put together a
fund team having deep network and insights of the Scotch whisky industry, asset
management and alternative investments. We understand the unique challenges and
opportunities to create value in this competitive market” said&nbsp;Amit
Tripathy, Fund Manager.Advisor to
the Fund, Doug McIvor said “The Scotch whisky industry has evolved over the
recent years, creating opportunities for institutional investors to realize
substantial returns. CMF’s commitment to long-term growth through innovation
and entrepreneurial thinking will shape a future that meets the evolving needs
of our partners and the markets we serve.”Sarah Demerling, Partner at Walkers
(Bermuda) Limited, legal counsel to the Fund
said "Bermuda is a perfect location to establish this structure and
strategy and we are delighted to have worked with the CMF team so far and
continue to wish them success."

Accounting

Securities / FX / Investment Trusts

Venture Capitals

Financial results announcement

Foreign companies

The Caledonian Malt Fund L.P. (“CMF” or the "Fund"), the alternative investment fund focused on investing into Scotch whisky, announced its launch after securing regulatory approval from the Bermuda Monetary Authority (the "BMA"). The Fund will invest into a diversified portfolio of premium and investment grade Scotch whisky drawn from the most reputable distilleries of the whisky producing sub-regions of Scotland.

The Caledonian Malt Fund L.P. secures regulatory approval as a Professional Closed Fund under the Investment Funds Act of Bermuda 

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The Caledonian Malt Fund L.P. is an alternative investment fund focused on investment in Scotch Whisky as an institutional asset. Fund’s investment thesis relies on the market forces of supply and demand underpinning Scotch whisky industry. Investment performance is a function of supply scarcity, intrinsic value and quality of the iconic Scotches acquired at lowest possible acquisition costs at any point of their maturing lifecycle ensuring margin of safety on the investment. By leveraging access to long term capital, the Fund will have a unique ability to optimize the structure and efficiency in both acquisitions and exits, thereby realizing better unit economics and returns on investment.