From: Clifford Sosin To: Clifford Sosin Subject: CAS Investment Partners - January 2014 Letter to Partners Sent: Monday, January 13, 2014 9:39:14 PM CAS Investment Partners Jan 2014 Letter to Partners.odf Attached, please find the January 2014 CAS Investment Partners letter to partners, which I am sending to you for your information as we have discussed the fund from time to time. As you will read in the letter, we have had a great start, and while there can be no guarantees and past performance is not indicative of future returns, I am optimistic for the future. Additionally, as described in the letter, beginning in March 2014, the minimum investment for new investors in Sosin Partners LP will be increasing to $1,000,000 from its current level of $500,000. I look forward to your thoughts, comments and questions. Cliff Clifford Sosin CAS Investment Partners, LLC T: EFTA_R1_01654127 EFTA02518475