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This information is intended only for existing shareholders of the Third Avenue Focused Credit Fund. The information disclosed in is intended for the specific audience and is not for attribution or for distribution to third parties.

The information in these documents represents the opinions of the Portfolio Managers and the research staff and is not intended to be a forecast of future events, a guarantee of future results or investment advice. Views express are those of the individual and may differ from those of other Portfolio Managers or of the firm as a whole.

Certain information contained in this material constitutes “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” or “believe,” or the negatives thereof (such as “may not,” “should not,” “are not expected to,” etc.) or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events or results or the actual performance may differ materially from those reflected or contemplated in any such forward-looking statement. Past performance is not necessarily indicative of future results.

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