Augustus
International
Master Fund, LP
November, 2020
Presented by REO Capital

Disclaimer
• These materials have been provided to you for information purposes only and
may not be relied upon by you in evaluating the merits of investing in any
securities referred herein. These materials are not intended as an offer or
solicitation in any jurisdiction with respect to the purchase or sale of any
security and are for professional investors only. Any investment decision
should be made based solely upon the information contained in the final
Offering or Information Memorandum. The Key Terms page set forth herein is
subject to definitive agreements.
• The interests described herein will not be registered under the laws of any
jurisdiction, including the United States Securities Act of 1933 or the United
States Investment Company Act of 1940, the laws of any state of the United
States, or the laws of any foreign jurisdiction and may not be offered or sold
without compliance to applicable securities laws.
• Past performance is not indicative of future results. These materials are strictly
confidential and may not be reproduced or redistributed in whole or in part,
nor may their contents be disclosed to any other person. These materials are
not intended to constitute legal, tax, or accounting advice or investment
recommendations, and clients should consult their own advisors on such
matters. The interests described herein are not deposits or obligations of any
financial institution or guaranteed or endorsed in any way. This investment
will not be listed on or traded under the rules of any exchange, and it may
therefore be difficult to sell or obtain reliable information about its value or the
extent of the risks to which it is exposed. The value of the investment may fall
as well as rise, and investors may get back less than they invested. Where
securities are issued in a currency other than the investor’s currency of
reference, changes in exchange rates may have an adverse effect on the value
of the investment.
• Further information is available upon request.
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Presentation Highlights
Profit Generation: Strategic Advantaged Relationships Focused on Trading Technology
• “ Special Situation, ” “Less Liquid ” Strategies (Private Debt, Life Settlements, Direct Lending, Debt
Receivables, Litigation Finance, Crypto Arbitrage, Weather Derivatives Arb, etc.)
• “Special Situation” Artificial Intelligence/Algorithmic Quant/Arbitrage
• Ultra High Frequency Trading Applications
– Event Driven (News)
– Electronic Market-Making
– Order Book Scalping
• “First Loss” Proprietary Trading (Multi-Asset Class)
Compelling Structure
• Multi Sub-Advisor Investment Platform of Customized Managed Accounts
• All Sub-Strategies Have a Structural (Non-Directional) Competitive Advantage
• Superior Technology (AI, Blockchain, Big Data Analytics, etc.)
– Automated Trading Algorithms
– Risk Management
• Any Prop Trading is Ultra Short-term, Market-Neutral, and Quantitative
Unusually Attractive Risk/Reward Expectations

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Fund Structure
• Master Feeder Structure
– Domestic Feeder: U.S. Taxable
– Offshore Feeder: U.S. Tax-Exempt and Non-U.S.
• Separately Managed Accounts
(Pari Passu with Fund)
• Possible Customization: UCITS,
“White Label”
• Managed Account Allocation Platform
• Intraday (and Overnight)
Stop Loss Risk Limits/Exposure/Buying
Power Parameters
• “First Loss” Co-Investment (“Skin in the Game”)
Preferred
Prop Traders
Investors

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Sub-Advisor SMAs vs. FOFs
Avoid Expenses Embedded in
Sub-Advisor “Fund”
Customized Stop Loss Limits
(Daily, Monthly)
Negotiate Customized (Lower)
Management/Performance
Fees in SMAs
Customized (Superior) Liquidity in SMAs
• No Lock-Up
• No Redemption Fees
• Shorter Notice Period
Intraday, Real-Time Portfolio
Transparency in SMAs
• P&L
• Aggregated Net Exposure →
Hedge Overlay

Investment Philosophy
“State-of-the-Art” Risk
Management Technology
Diversification
Generate Superior Risk-Adjusted Returns/Non-Correlated to Securities Markets
• Profit Attribution From Structural Competitive Advantages of Sub-Advisors
• Compelling “Less Liquid, Special Situation” Strategies
• Prop Trading Focus on Ultra Short-Term Trading Time Horizon and Liquidity; Market Neutrality
• “First-Loss” Risk Protection
Alignment of Interests via Managed
Account Platform
Power of Positive Compounding
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Positive Compounding
Short Term Losses vs. the Power of Positive Monthly Compounding
Month Manager A Manager B Manager A Manager B Manager A | Manager B
January +6.5% +1.0
Same Monthly
Numbers
Same Monthly
Numbers
February -4.4 +1.0
March +6.5 +1.0
April -4.4 +1.0
May +6.5 +1.0
June -4.4 +1.0
July +6.5 +1.0
August -4.4 +1.0
September +6.5 +1.0
October -4.4 +1.0
November +6.5 +1.0
December -4.4 +1.0
3 Year Total 10 Year Total
Arithmetic Total: +12.6% +12.0% +37.8% +36.0% +126.0% +120.0%
Geometric (Monthly
Compounding)Total: +11.39% +12.68% +38.21% +43.07% +194.08% +229.98%
Conclusions: . Over a longer period of time, the best way to maximize results is to not have losses in the short term. In other words, consistent positive monthly
returns (even small returns) yield dramatically better results than volatile returns, especially when volatile returns include monthly losses. Monthly drawdowns are
to be avoided. Alternative investments, such as hedge funds, are solutions to seek to achieve consistent positive returns in any market environment. Traditional
(long- only) equity strategies are rarely profitable when the S&P 500 goes down. Many “special situation” hedge funds can be profitable when the S&P 500 goes
down. For a taxable investor with a long-term horizon, the difference in total net return is even that much more significant when there is a “tax efficient” solution
available to defer annual K1 taxes on investment gains. Accumulation of the slow & steady ROI in Manager B will outperform in the long run.

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Portfolio (Platform) Construction
“Special Situation” Less Liquid Strategies (Private Debt, Direct
Lending, Life Settlements, Debt Receivables, Equipment Leasing,
Litigation Finance, Weather Derivatives, Trade Finance, Syndicate
Desk Activities, Exchange-Based Agency Trading/Market Making
Activities, etc.)
Electronic Market Making/Order Book Scalping
Ultra Short-Term, High Frequency Trading
“Special Situation” Artificial Intelligence/Algo Quant
“First Loss,” Short-Term, Market-Neutral/Arbitrage
Volatility Arbitrage (Options)
“Multi” Asset Class
• Equities
• Fixed Income (including “Private Debt”)
• Foreign Exchange
• Commodities
• Other
“Multi” Global Market
“Multi” Type of Security
• Cash Settled
• Options
• Futures
• Futures Options
• ETFs
• Indices
• OTC “Special Situations”
All Prop Positions/Securities Must Be Publicly-Traded,
Exchange-Listed, and “Liquid”
All Liquid Trading Strategies Must Offer an Automated,
Quantitative Approach with Definable Technological Edges
Eligible Strategies
Characteristics of
Eligible Strategies

Sub-Advisor
Selection
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Portfolio (Platform) Construction
Sourcing of Talent
Due Diligence
• Qualitative Background Verification/AML/KYC
• Qualitative Analysis of Prop Trader’s Algorithmic
Technological Edge
• Quantitative Analysis of Historical Performance
– Trading Frequency
– Drawdowns
– Track Record in “S&P 500 Negative Months”
– Leverage
– Correlation of Returns with Existing Fund Sub-Advisors & the S&P 500
“First Loss” Capital Investment (Prop Trader “Reserve”)
Strategy Diversification Factor (re: Aggregate Fund Portfolio)
“Uniqueness” of Any “Less Liquid” or “Special Situation” Strategy

Capital Allocation
Optimization
Process
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Portfolio (Platform) Construction
Factors for Allocation to Platform’s Trading Managers (Sub-Advisors)
• Sub-advisor Allocations are Weighted Largely According to Expected Risk-
Adjusted Returns
• Prop Trader Commitment of “First Loss” Capital (“Reserve”):
– Limited Drawdown Frequency/Magnitude/Probability
– Affects “Buying Power” & Economics
• Alpha Generation
– Structural Competitive Advantages of Any Allocations to “Less Liquid” &
“Special Situation” Strategies
– HFT Applications (Systematic Algorithmic Trading)
• Market-Making
• Order Book Scalping
• Agency Commissions and Liquidity Rebates
– Variable Revenue Generation via Discretionary Trading P&L
• Weighted Probability of Loss/Stop-Loss Trigger vs. Upside Potential
• Liquidity Cost of a Forced Liquidation
• Analysis of Strategy in a Specific Market Environment (Opportunistic)
• Correlation of Strategy to Other Fund Managers and to the S&P 500 in a Specific
Market Environment
• Time Horizon Expectation for P&L Realization
HFT & “Special Situation” Strategies Generate Outsized “Alpha.” “First Loss” is
Defensive Allocation.
Risk Management Discretion to Liquidate/Overlay (Hedge) Individual Prop Traders
or Aggregate Portfolio
Currently, the Fund Allocates to 5-6 Sub-Advisors. As AUM Increases, the Number
of Sub-Advisors Should Also Increase (Ultimately, 10-20 Managers).

(Multi-Layered)
Risk Management
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Portfolio (Platform) Construction
Prop-Trader “First Loss” Reserve
Stop Loss Limits
• 1% Daily
• 2.5% Monthly
• 5% Since Inception
• The Sub-Advisor “Owns” any Excess Loss over 1% + 2.5% Limits
“State-of-the-Art” Technology
• Managed Account Platform for Platform Traders
– Real Time, Tick-by-Tick Intraday Monitoring & Transparency
• Trade Execution
• Portfolio Composition (Positions) and Exposure
• P&L vs. Stop Loss Limit
– Liquidity > Dynamic Portfolio Management
• Multiple Providers of Risk Management Software
Risk Management Discretion
• Stop-Loss Limits, Exposure Limits, Buying Power on Aggregate Portfolio
• Overlays
• Cash Balances
Prime Broker Risk Analysis
• Intraday
• Overnight
Fund Administrator Risk Analysis

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Competitive Advantages
Portfolio of Managed Accounts (MA).
(We Customize & Control the Risk in Each MA.) See Page 5.
The Fund’s Principal has an Extensive Network to Source Innovative Product and Abundant Trading
Experience to Perform Sub-Advisor Due Diligence, Portfolio Construction, Risk Management, etc.
Please See Bio on Page 14. Augustus Advisors LLC is Positioned as an OCIO (Outsourced CIO),
Specializing in “Alternative Investments.” The Fund’s Principal is related to the family of a $14 billion
dollar, Multi-Family Office (Offit Capital). Several family members are the core investors in the Fund.
It Is Usually Difficult To Identify, Much Less Allocate Capital To, Either “First Loss” Prop Firms or
Hft/Electronic Market-making/Order Book Scalping/News Event Strategies or to The “Less Liquid,
Alternative,” Special Situation Strategies (I.E. Direct Lending, Life Settlements, Debt Receivables),
Because They Are Usually Closed To External Investment or Lacking In Scalability And Capacity. They
Usually Trade Inefficient Market Sectors And Face Limited Competition. Such Firms And Strategies
Have Evidenced The Unique Ability to Make Consistent Positive Returns In All Market Environments,
Assuming Reasonable Levels Of Volatility.
• “First Loss” Allocations: Reduce Risk of Loss in the Portfolio
• HFT and Special Situation Strategies: Compelling “Alpha” Generation
Alignment of Interests: Both Fund Principals and Prop Traders Invest “A Significant % of Their Liquid
Net Worth” in the Strategy.
“First Loss” Reserve & Strict Stop Loss Limits Combine to Minimize Probability/Frequency/Magnitude
of Losses

Historical Performance
According to our attorneys, because the nature of the current allocations of the Augustus Fund to our sub-advisor
strategies is so radically different (less liquid, less correlated to securities markets, more nuanced, etc.) from those
prop trading/algo quant strategies used exclusively in the past, it would be inappropriate and misleading to
proactively display and promote the Fund’s 15 year historical performance history. This performance history is now
available upon request only.
Please refer to the attached Executive Summary, which includes a pro forma history of our current sub-advisor
strategies based on existing weighted average allocation percentages, as well as details on each strategy and its own
individual performance history. Beginning with October, 2018, on the advice of counsel, the Augustus Fund began to
document our own new net monthly, audited performance history based on real money allocations to these products.
We appreciate your understanding and consideration.
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1st Quarters 2nd Quarters 3rd Quarters 4th Quarters Augustus S&P 500
2015 1.33 2.77 0.80 8.71 14.11 1.38
2016 3.74 2.55 4.06 5.98 17.32 11.96
2017 5.46 11.65 3.94 3.71 26.92 21.83
2018 2.05 3.46 4.49 2.05 12.58 -4.38
2019 2.25 0.78 -0.73 -1.05 1.23 29.51
2020 -0.31 0.63 0.32 -3.08
93.66 65.97

Bio
Mark Abeshouse
is the General Partner of the Augustus International Master Fund LP. His primary responsibilities are to manage the Fund’s day-to-day activities
involving capital allocation and portfolio risk management, operations and administration, marketing and client servicing, and the sourcing of
potential prop traders anywhere in the world. Mr. Abeshouse is the Chairman and Managing Member of Augustus Capital I LLC, which is the
successor firm to Augustus Capital LLC (formerly a FINRA broker-dealer), Augustus Trading LLC, and Augustus Advisors LLC. Augustus Capital I
serves multiple functions as a small “ family office,” where it allocates its proprietary assets and those of its clients for whom it advises on global
asset allocation, in various areas of “alternative investments” such as hedge funds, private equity, real estate, natural resources, etc. Augustus
Trading LLC is a (dormant) Broker-Dealer Market Maker on the Pacific Stock Exchange. Augustus Advisors LLC is the General Partner to the
management company entities of the Augustus Fund and a (pending) registered investment advisor. From 2015 through 2019, Mark was also the
President of Horton Point LLC, a fintech investment platform focused on alternative investments (hedge funds). Currently, Mark is in conversation
to become a principal and equity owner of a new firm specializing in a very innovative product in global real estate, in which the investor can, for
the first time, manage real estate exposure risk and make money when the real estate cycle turns down.
He has a diverse background on both the buy and sell sides of Wall Street as a trader and portfolio manager for major institutions. In the first half of
his career to date, he was a U.S. government bond trader at Salomon Brothers, a trading desk manager (specializing in derivatives of all asset
classes) at Morgan Stanley, and a discretionary global portfolio manager at Lazard Freres Asset Management. These experiences included time
spent on the floors of various exchanges. Prior to founding Augustus Capital LLC in 1997, Mr. Abeshouse was a founding principal and Managing
Director of the Aries Fund, a health care and biotech hedge fund, where he was responsible for risk management, business development, and
marketing. He has had the following effective U.S. Securities Registrations: Series 3 (Commodity Features); Series 5 (Interest Rate Options); Series 7
(General Securities Representative); Series 15 (Foreign Currency Options); Series 24 (General Securities Principal); Series 63 (State Blue Sky); Series 65
(Registered Investment Advisor); and Series 79 (Investment Banking).
He graduated Magna Cum Laude from the Wharton School of the University of Pennsylvania with a BS Economics with a major in Finance (1978)
and Magna Cum Laude from the Graduate Business School of the University of Chicago with an MBA with a major in Finance (1980). He is a
member of the Pi Gamma Mu and Beta Gamma Sigma Honor Societies. He is actively involved in a variety of community and charitable
organizations. He is married to a corporate litigation attorney and has two children and a dog (miniature dachshund). He remains a sports
enthusiast and card player. He resides in Westchester County, NY.
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Organizational Team
Note: Please refer to p. 16 for a list of our external institutional service provider firms.
Manager Sourcing
and Due Diligence
• Mark Abeshouse
Portfolio Management/
Risk Management
• Mark Abeshouse
• Underlying “Managed
Account” Sub-Advisors
Marketing/Investor
Service
• Mark Abeshouse
• Jacquelyn McAvoy
• Various Contract “Third
Party Marketers
Operations/
Administration
• Mark Abeshouse
• Jacquelyn McAvoy
Legal/
Compliance
• Rhonda Leonard, Esq.
(External Counsel/ Consultant)

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Fund Service Providers
Multiple Prime
Brokers:
• Negotiated by Sub-Advisors
Fund Administration/
Back Office:
• Liccar Fund Services (U.S.);
• Genesis Fund Services (Bahamas)
Legal/Compliance/
Fund Registration:
• Sadis & Goldberg LLP (U.S.);
• Tesser, Ryan & Rochman
LLP (U.S.);
• King & Co. (Bahamas)
Auditor:
• Fulvio & Associates, LLP (U.S.)
Correspondent Bank:
• Signature Bank (U.S.)
Regulation:
• Pending registration as
a Registered Investment
Advisor (RIA) with both the
SEC & New York State

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Key Terms
Management
Fee
Performance
Fee
Lock Up/Hurdle
Rate
Subscriptions
Redemptions
None/
None
20% Monthly
1.5%
Monthly,
30-Day
Written
Notice

Contact Information
General Partner:
Mark Abeshouse (Managing Member of the Fund’s
Domestic & International Management Company Entities)
Address:
110 Pondview Lane, New Rochelle, NY 10804 U.S.A.
Telephone:
914-355-4371 (office)
914 450-2369 (mobile)
eFax:
914-560-2174
Email:
maa.augustusadvisors@gmail.com; AugustusCapital@yahoo.com; RayEspinoza@reocapitalllc.com
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