SABA CAPITAL MANAGEMENT
INVESTOR PRESENTATION
[PLACEHOLDER — DO NOT PRESENT TO ACTUAL INVESTORS]

SLIDE 1: Title Slide
  "We Have A Plan"
  (plan not included in this document)

SLIDE 2: Our Strategy
  - Buy low
  - Sell high
  - Repeat
  - ???
  - Profit

SLIDE 3: Market Opportunity
  [INSERT LARGE NUMBER HERE]
  Source: trust us

SLIDE 4: Our Team
  Very smart people.
  Many degrees.
  At least one person owns a Bloomberg terminal.

SLIDE 5: Financials
  [CHART GOES HERE — make it go up and to the right]
  Note: chart direction subject to change

SLIDE 6: Why Now?
  Good question. We will circle back.

SLIDE 7: Q&A
  Please hold all questions until we have left the building.

Thank you for your time and continued patience.

— Saba Capital Management
   (real presentation coming soon, we promise)