Dexion Absolute Limited (in Voluntary Liquidation) (the "Company")

    Shareholder Update

    At an extraordinary general meeting of the Company held on 23 March 2016,
    shareholders passed resolutions to wind-up the Company and appointed Ashley
    Paxton and Linda Johnson of KPMG Channel Islands Limited as joint liquidators
    (the "Liquidators").

    Further to the Liquidators' shareholder announcement of 22 July 2016, the
    Liquidators announce the following update to shareholders with respect to the
    Company's investment in Aurora Offshore Fund II Limited ("AOFL II").

    On 16 August 2016, the Liquidators received US$83,758,569.41 (the "Funds")
    representing 71.83% of the reported net asset value (as at June 30 2016) of the
    Company's investment in AOFL II.

    As shareholders will be aware, the Company operates a single Sterling
    denominated share class. Upon receipt of the Funds the Liquidators converted
    the Funds from US Dollars into Sterling for settlement on 17 August 2016 at a
    rate of US$1.3005 / GBP£1.00. Accordingly, the Joint Liquidators received GBP£
    64,404,897.66.

    The liquidators anticipate making a distribution of the Funds (the "First
    Interim Distribution") to shareholders of the Company during the week
    commencing 22 August 2016.

    A further announcement will be made by the Liquidators as soon as the rate per
    share and distribution date of the First Interim Distribution has been agreed.

    Following the First Interim Distribution, the Liquidators will assess the
    future distribution schedule for AOFL II before making further distributions to
    shareholders to ensure that the costs of making distributions are minimised.

    Enquiries

    The Liquidators

    Linda Johnson and Ashley Paxton

    Glategny Court

    Glategny Esplanade

    St Peter Port

    Guernsey

    GY1 1WR

    Tel:  01481 721 000

    restructuring-ci@kpmg.com