Third Point Offshore Investors Limited (the" Company")             

     (a closed-ended investment company incorporated with limited liability under  
                  the laws of Guernsey with registered number 47181)               

    Third Point December Performance

    1/3/2017

    The following figures are estimated net returns of Third Point Offshore Fund,
    Ltd. for the month of December and for the year 2016:

    December   YTD 2016

    +0.6%           +6.1%

    Performance results are based on the net asset value of fee paying investors
    only and are presented net of management fees, brokerage commissions,
    administrative expenses, and accrued performance allocation, if any, and
    include the reinvestment of all dividends, interest, and capital gains.  The
    performance above represents fund-level returns, and is not an estimate of any
    specific investor's actual performance, which may be materially different from
    such performance depending on numerous factors.  All performance results are
    estimates and should not be regarded as final until audited financial
    statements are issued.   Past performance is not necessarily indicative of
    future results.  All information provided herein is for informational purposes
    only and should not be deemed as a recommendation to buy or sell securities. 
    All investments involve risk including the loss of principal.  This
    transmission is confidential and may not be redistributed without the express
    written consent of Third Point LLC and does not constitute an offer to sell or
    the solicitation of an offer to purchase any security or investment product. 
    Any such offer or solicitation may only be made by means of delivery of an
    approved confidential offering memorandum.

    Website:   www.thirdpointpublic.com

    Enquiries:

    Company Secretary - Northern Trust International Fund Administration Services
    (Guernsey) Limited

    Tel:       +44 (0) 1481 745918

    Email:   FK26@ntrs.com