EXPERTS IN PRIVATE MORTGAGE LENDING

FORMOREINFORMATION407-476-2500

www.LYNKCapital.com

Fund Performance2015 Year-End Report

LYNKCapital, LLC isopen to Accredited Investorsonly. In purchasing securitiesthrough a506(c)Offering, theCompany (“LYNKCapital, LLC") isobligated to verify any participating investor’sstatusasan accredited investor in accordancewith Rule 501of Regulation D Investor Verification Standardsand Protocols. Investorsshould consider the investment objectives, risks, chargesandexpensesof theFund carefully before investing.Thisand other information are contained in theFund’sPrivatePlacement Memorandum datedAugust1,2014,which may beobtained bycontacting LynkCapital, LLC. Please read thePrivatePlacement Memorandum carefully before you invest. Aword about risk:Past performance isnot aguaranteeor a reliable indicator of futureresults.All investmentscontain risk and may lose value. Thismaterial hasbeen distributed for informational purposesonly and should not be considered asinvestment adviceor a recommenda-tion of any particular security, strategy or investment product.No part of thismaterial may be reproduced in any form,or referred to in any other publication,without expresswritten permission.

Dear Investors,It is hard to believe it is 2016 and another year of investmentopportunity lies ahead for LYNK Capital and its 70 investors. As asmart investor, I am sure you have a diversified portfolio thatincludes equities, bonds, alternatives, and perhaps venture capitalinvestments. If you began the year thinking to yourself “what in theworld is happening to equity markets?”, then you are not alone. Inlight of conflicting global economic signals and volatility, I have beenasking myself how stock market investors can predict what liesahead in 2016. I cannot speak for any of you as investors, but I didwhat I believed was best for my family and moved 50% of myretirement savings from equities to LYNK. I already had a significantinvestment in LYNK, but I simply could not deal with the volatility anduncertainty of the equity markets any more.

LYNK Capital is now two and a half years old and we are on aconsistent path toward our targeted goal of producing annualizedreturns in excess of 15% for our investors. This is a lofty goal, but onethat has been achieved in the past through this exact businessmodel. While I typically cover this briefly in most quarterly reports, Iwant to review LYNK’s initial investment model again here. Ourmodel states that we will loan money at an average rate of 12%secured by first-lien mortgages and fund these investments with amix of equity and debt. If we can borrow money at 6% or less frombanks in an amount equal to equity raised, we should achieve anestimated 16% net return annually; by increasing the low-costborrowing to a 1.5:1 ratio, we can hope to achieve an annual returnapproaching 18%.

LYNK began the year with 15 assets totaling $17.4 million undermanagement and grew the number of assets considerably to 50,totaling $22.4 million under management at year-end. As weprojected, average loan size has dropped considerably to $449,332,thereby reducing concentration risks to the fund and its investorssubstantially. LYNK’s geographic concentration is spread out over 5states, with the highest concentration in Maryland and Florida.

LYNK began the year with cash on hand of $733,437 and ended theyear with $1,136,127, and one of the most positive areas ofimprovement was the increase in equity capital raised frominvestors. During 2015, LYNK successfully raised over $4.3 millionfrom investors, taking the fund to $14,361,894 in equity at year end.The Fund Managers continue to have significant personalinvestments in LYNK, totaling over $5.37 million.

EXPERTS IN PRIVATE MORTGAGE LENDING

FORMOREINFORMATION407-476-2500

www.LYNKCapital.com

Fund Performance2015 Year-End Report

LYNKCapital, LLC isopen to Accredited Investorsonly. In purchasing securitiesthrough a506(c)Offering, theCompany (“LYNKCapital, LLC") isobligated to verify any participating investor’sstatusasan accredited investor in accordancewith Rule 501of Regulation D Investor Verification Standardsand Protocols. Investorsshould consider the investment objectives, risks, chargesandexpensesof theFund carefully before investing.Thisand other information are contained in theFund’sPrivatePlacement Memorandum datedAugust1,2014,which may beobtained bycontacting LynkCapital, LLC. Please read thePrivatePlacement Memorandum carefully before you invest. Aword about risk:Past performance isnot aguaranteeor a reliable indicator of futureresults.All investmentscontain risk and may lose value. Thismaterial hasbeen distributed for informational purposesonly and should not be considered asinvestment adviceor a recommenda-tion of any particular security, strategy or investment product.No part of thismaterial may be reproduced in any form,or referred to in any other publication,without expresswritten permission.

LYNK began to realize a benefit from the use of bank debt andincreased net investor yields above 13% for the year. This resultedin investor distributions of over $1.7 million, which is more thandouble the amount distributed in 2014. Additionally, LYNKsuccessfully closed on two bank credit facilities that have allowed usto increase the level of debt employed in the fund and begin toachieve increased investor returns. More specifically, LYNK endedthe year with a fourth quarter return of 13.54% and a full-yearreturn of 13.48%. Our projections were to be above 14% for theyear, climbing closer to 15% going into 2016, but even with thecredit facilities mentioned above, our use of debt has been belowprojections. The reason for this is that we have generally foundbanks to be slower andmore restrictive in this environment than wehad expected. Needless to say, locating and procuring additionalbank debt in 2016 is one of our highest priorities.

Repayments & Portfolio Performance

We had a strong year for loan repayments as 11 transactionstotaling $15.3 million were repaid in full. While this created a largeamount of cash to reinvest, LYNK was able to utilize its strong dealflow to reinvest this cash in a timely matter.

Loan performance for the year was good, with mostly only sporadicand minor past due accounts throughout 2015. LYNK foreclosedupon one property in Charleston, SC and is currently completingconstruction at that property. The as completed value of thatproperty is $1.1 million, and LYNK has an anticipated basis ofapproximately $850,000 – so no loss of capital is expected.

Our Market Risk

Like all funds and investment products, we have to talk about risk,and, in fact, we think about risk all the time. For LYNK Capital, thebroad risks, like any mortgage or financial sector investment,include the overall state of the economy, interest rates, andconsumer confidence. More specifically, we focus on statistics likeunemployment, household creation, housing inventories andaffordability, etc. While overall global economic indicators areraising questions marks on growth in some major world economies,we believe that, at this moment, the housing market indicatorsremain favorable in the states in which LYNK operates. That beingsaid, one of the key defenses against a downturn in the housingmarket remains a conservative lending approach that emphasizeslow loan-to-value loans. By focusing on a portfolio loan-to-value of60% or less with individual loans not exceeding 70% of less, webelieve that LYNK is appropriately positioned to manage theforeseeable risks in 2016.

A look ahead to 2016

Looking ahead to 2016, we are focused on obtaining the properdebt facility to allow LYNK to more effectively leverage its equitycapital and increase investor returns. A continued slow climb inassets under management, achieving higher than market returns,and, most importantly, protecting and preserving capital, roundout our list of priorities.

Our specific hope is to grow LYNK’s outstanding equity capital to$20million and to secure an equal amount of low-cost debt beforethe end of the year, which will likely result in growing assets undermanagement to between $35 million and $40 million, totalingbetween 75 and 100 assets. More importantly, we hope toachieve net investor returns of at least 14.5% for the year.

Conclusion

On behalf of the LYNK Capital Management team we sincerelyappreciate the confidence that our investors have placed in us.As we begin this new year, we will focus our efforts, as we alwayshave, on protecting the capital entrusted to us and work eachday to maximize the return on that capital.

Sincerely,

Ben LyonsManaging DirectorLYNK Capital Fund