April 21, 2014 H&Q Healthcare Investors C/o Tekla Capital Management LLC Boston, MA 02109 Attn: Ms. Laura Woodward RE: H&Q Healthcare Investors — Rights Offer Dear Laura:H&q Healthcare Investors • May 23rd, 2014 • New York
Company FiledMay 23rd, 2014 JurisdictionThis will serve as the Agreement between AST Fund Solutions, LLC (“AST Fund Solutions”) and H&Q Healthcare Investors (the “Client”), pursuant to which AST Fund Solutions will serve the Client as Information Agent for a Rights Offer (the “Offer”) for the Client.