Achievement Asset Management LLC

ITEM 5 - FEES AND COMPENSATION

Management, Performance and Redemption/Withdrawal Fees

As of December 31, 2015, assets under management for which AAM earned advisory or performance fees
was $0.00. AAM ceased earning advisory fees and performance fees in the Achievement Funds shortly

after announcing the decision to wind-down the affairs of the Achievement Funds and corresponding
Master Fund’s. Advisory fees associated with the Sub-Advised Funds ceased as well in 2015 shortly after
AAM ceased providing sub-advisory services. The Performance Funds ceased earning advisory and
performance fees in 2014.

Client Operating Expenses

The Achievement Funds and the Performance Funds continue to bear certain direct and indirect (through
the applicable Master Fund’s) administrative expenses and operating costs as the wind-down of the
remaining Achievement Funds and Performance Funds continues, including, but not limited to,
administrative expenses associated with obligations to indemnify AAM, the Performance Funds and
Achievement Funds Directors’, Directors’ fees and expenses, the Administrators of the Performance Funds
and remaining Achievement Funds, and ongoing Performance Funds’ and remaining Achievement Funds’
operating expenses, including but not limited to legal, audit, accounting and tax fees, liquidator fees,
dissolution fees and other expenses and liabilities incurred in connection with or arising out of the
Performance Funds and remaining Achievement Funds operations, including extraordinary or non-
recurring charges.

Brokerage and Transaction Costs

In that the current holdings of the Achievement Funds and the Performance Funds is all cash or cash
equivalents (e.g.; money markets), brokerage and other transaction costs, if any, are at a minimum. The
Sub-Advised Funds have not incurred brokerage or transaction costs associated with AAM’s sub-advisory
services since AAM ceased providing sub-advisory services.

Negotiation of Fees, Waivers

Given AAM’s decision to wind-down the affairs of the private funds and has ceased providing sub-advisory
services for the Sub-Advised Funds, as of December 31, 2015, assets under management for which AAM
earned advisory and/or performance fees was $0.00.