April 2020

DisclaimerThe value of the investment may fluctuate. Past performance is no guarantee of future results. Investors may not get back the amount they have invested in the fund.

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ATTENTION! THIS INVESTMENT FALLS OUTSIDE AFM SUPERVISION. NO LICENSE AND NO PROSPECTUS REQUIRED FOR THIS ACTIVITY.

Te a m P l e t h o r a P r i v a t e E q u i t y

Douwe van Hees Fund Manager

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• 2008-2013: Private investor in junior exploration companies

• 2010: Working for a junior explorationcompany in Canada

• 2013-2014: Advisor PPM Fund

• 2014-now: Manager PPM Fund

• 2018-now: Manager PPE Fund

Peter Vermeulen Advisor

• 2007: Master of Economics – Finance & Investments (University of Groningen, The Netherlands)

• 2012-2014: Founder & manager PPM Fund

• 2014-now: Advisor PPM Fund

• 2018-now: Advisor PPE Fund

Thomas KwantCorporate Secretary

• 2012-2013: Consultant KP&T

• 2013-2014: Consultant A&P Support

• 2014-2017: Accountmanager MVGM

• 2018-now: Corporate Secretary PPE Investments

P l e t h o r a P r i v a t e E q u i t y

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Launched in January 2018 with C$ 1.7M of capital by the founders

Building on the success of Plethora Precious Metals Fund (CAGR: +14.0% vs. -8.2% for the GDXJ*)

Focus on early stage mineral exploration

Return since launch: +34.0% as of end of 2019

Current assets under management: C$ 12.5M

Return of capital to investors: 50% of net realized profits

*GDXJ – Junior Gold Miners ETF. CAGR = Compound Annualized Growth Rate. Figures as of April 10, 2020

F o c u s o n e a r l y s t a g e m i n e r a l e x p l o r a t i o n

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W h y m i n e r a l e x p l o r a t i o n ?

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Lack of capital for grassroots mineral exploration- First mover advantage

Lack of new discoveries and decreasing mine reserves- Perpetual demand for new discoveries by miners

Vast majority of public exploration companies is highly inefficient with limited available capital

- Decreasing odds of success

Large revaluations with IPOs of prospective exploration projects- Liquidity and visibility premium

Observations

Incorporate private exploration companies → monetize after exploration successOpportunity

L a c k o f c a p i t a l f o r m i n e r a l e x p l o r a t i o n

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L a c k o f n e w d i s c o v e r i e s

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D e c r e a s i n g m i n e r e s e r v e sE x a m p l e : g o l d

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D e m a n d f o r n e w d i s c o v e r i e s ( b y m i n e r s )E x a m p l e : n i c k e l

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Both nickel discoveries are comparable to a nickel discovery by Sirius Resources in 2012

Sirius Resources was acquired in 2015 by Independence Group for A$ 1.8 Bn

C o m p e t i t i v e e d g e P l e t h o r a P r i v a t e E q u i t y

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C$ 20,000C$ 0

C$ 20,000

Public listing costs

C$ 12,000Legal and accountancy

Office C$ 0

C$ 50,000

C$ 0

C$ 20,000

C$ 300,000

C$ 100,000

Management

Marketing

PPE company (16% G&A)Average public listed company (±50% G&A)

R e v a l u a t i o n o f p u b l i c c o m p a n i e s

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Dataset of 849 publicly traded junior exploration companies*

Average market capitalization: C$ 18.9M

Median valuation: C$ 5.6M

Average book value PPE companies: C$ 1.2M

*Listed on the Toronto Venture Exchange or the Canadian Securities Exchange as of 10th of April 2020

O u r p r o c e s s

Opportunistic: no specific focus on a single natural resource as we are commodity price agnostic

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Choose strong and stable mining jurisdictions

Conduct fieldwork as soon as possible, focus on collecting hard data

Incentivize the leading geologists (“Rock Stars”) with a significant share position

Risk management: kill projects as soon as possible

Hire world renowned field specific experts whenever needed. Upfront costs outweigh possible future misallocation of capital

R i s k M a n a g e m e n t : P h a s e d I n v e s t m e n t A p p r o a c h

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Phase 3 : Systematic field work relying heavily on geochemistry – Estimated costs C$100,000

Phase 4 : Anomalies identified, follow-up fieldwork to zoom in on target – Estimated costs C$400,000

Phase 2 : Incorporation and field “fatal flaw” testing concept – Estimated costs C$50,000

Phase 1 : Concept generation – Estimated costs C$10,000

Phase 5 : Possible geophysics and further fieldwork to refine target – Estimated costs C$400,000

R o c k S t a r s

Daniel JamesChief Operating Officer

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Exploration Geologist

• 2011-2018: President of Medgold Resources leading an exciting new gold-silver discovery in Serbia (May 2018)

• 15+ years of experience in gold exploration in Africa, Asia andEurope

Quinton HennighTechnical Advisor

Exploration Geologist (Ph.D)

• Currently chairman of Novo Resources: Instrumental in thegrowth of the company to a market capitalization of >C$ 1 Billion

• 25 years of experience in worldwide gold exploration for companies suchas; Homestake Mining, NewcrestMining & Newmont Mining

David ClarkTechnical Advisor

Exploration Geologist

• Currently president of BonavistaResources

• 20 years of experience in mineralexploration. He has explored for Ni-Cu-PGE magmatic sulphide, intrusion-hosted PGE, and orogenicand epithermal precious metals on projects in Canada, Mexico & Central America, USA, and Europe.

G l o b a l E x p l o r a t i o n

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Sweden• Magmatic Ni (Co-Cu) sulphides• Multiple occurrences staked and 3

projects optioned from third-parties• SkyTEM survey identified > 25 possible

conductors

Newfoundland, Canada• Epithermal Au in the Burin Peninsula• Au-Cu discovery at Hickey’s Pond• Attracted investment mid-tier mining

company

Ireland• Irish- and SedEx-type Pb-Zn• Two lead projects; Tallow & Castleblaney• Drill-readyNevada US (Ubica)

• Optioned Au-Ag project• Very high-grade mineralization• CSAMT survey pending

Nevada, US (Da Venda)• Epithermal Au-Ag• Large-scale target generation

with 2 lead projects emerging • Two project drill ready

Arizona, US• Epithermal Au-Ag• Multiple targets generated• On-going early-stage fieldwork

Nova Scotia / New Brunswick, Canada• Epithermal Au in the Avalon Belt• Project killed after phased

exploration in 2019• New project generation ongoing

Montenegro / Romania • Epithermal Au, porphyry Cu & Pb-Zn skarn• Early-stage targets generated• Prime polymetallic exploration target

discovered after first pass exploration

I n s u m m a r y

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Generateconcepts

Incubate

Explore

MonetizeReturn of capitalto investors: 50% of net realizedprofits

Write off

Currently raising up to € 1M

Closing date: May 1st, 2020

Subscription Price: -5/+5% vs. Year End 2019

F u n d S t r u c t u r e

Stichting Legal Owner Plethora Private Equity

€ 100,000

2 years

1 year

50% of net realized profits*

1% annually

20% of realized profits

0%

0%

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Custodian

Minimum investment

Initial lock-up

Redemption notice

Distribution policy

Management fee

Performance fee

Entry fee

Exit fee

* After deduction of performance fees. Please refer to the Information Memorandum for further information.

Douwe van HeesFund Manager

www.plethora-pe.comvanhees@plethora-pe.com

+31 (30) 20 777 20+31 (6) 14 514 692