Alchemy Investment Management LLP

ITEM 5. FEES AND COMPENSATION

A. Fees

Alchemy charges a fee to each Client that is based on a percentage of assets under management (the
“Management Fee”). Investors in the Funds will generally pay a fortnightly or annual Management Fee
(approximately 0.5% to 2.5% annually). Until May 14, 2025, the Management Fee is generally accrued as
of the last day of each month and paid quarterly in arrears. Effective May 15, 2025, the Management Fee
is accrued and payable on a fortnightly basis (i.e., 15th day and the last day of each calendar month). The
applicable Management Fee schedule for each Client or investor is described in the applicable Governing
Documents. Each Fund’s management personnel, in consultation with Alchemy, may elect to reduce, waive
or calculate differently the Management Fee with respect to such Fund or investor. Management Fees shall
also be payable with respect to the Units attributable to any Special Series.

In addition to the Management Fee, investors in the Funds are typically subject to an initial subscription fee
(“Subscription Fee”), payable at the time of investment to Alchemy. The Subscription Fee typically ranges
between 1.5% and 3.0% of the amount of the initial subscription, thus reducing the amount actually invested
by an investor. Each Fund’s management personnel, in consultation with Alchemy, may elect to reduce,
waive or calculate differently the Subscription Fee with respect to such Fund or investor.

The Firm also receives an incentive fee or performance fee (“Incentive Fee”) as discussed further in Item
6. Additionally, an Exit Load of up to 3% may be applicable on redemptions, depending on the investor’s
Subscription Date and the holding period. For investments made before May 15, 2025, an Exit Load applies
if redeemed within 24 months. For investments made on or after May 15, 2025, the Exit Load applies if
redeemed within 36 months.

B. Charging Fees

Depending on the terms specified within each Client’s Governing Documents, Clients shall be billed
directly for all fees incurred.

The Subscription Fee is typically charged to each Fund investor prior to the acceptance of such investor's
subscription (including subsequent subscriptions) or thereafter on the Subscription Dates, which shall be
fortnightly basis on the first day and 16th day of every month or such other day as the Firm may allow and
will thus reduce the amount actually invested by the investor in the Fund.

C. Other Fees and Expenses

In addition to the Management Fee, Subscription Fee and Incentive Fee, each Fund bears its own
organization and initial offering expenses, including, but not limited to, legal and accounting fees, printing
and mailing expenses and government filing fees, and other expenses of a capital nature. In addition, the
Funds typically pay or reimburse the Firm or its affiliates for (i) all expenses incurred in connection with
the offering, including, but not limited to, travel, legal/compliance, and printing of any applicable
Governing Documents; (ii) all operating expenses of the Funds such as tax preparation fees, governmental
fees and taxes, compliance costs, Fund administrator fees, director fees and expenses, costs of
communications with shareholders and investor relations, and ongoing legal, accounting, auditing,
bookkeeping, consulting and other professional fees and expenses; (iii) all Fund research, trading and
investment related costs and expenses (e.g., research reports, due diligence on portfolio companies,
brokerage commissions, margin interest, expenses related to short sales, custodial fees and clearing and
settlement charges), including the costs of calculating and complying with any applicable debt limits to
invest in listed securities in India; and (iv) all fees and other expenses incurred in connection with the
investigation, prosecution or defense of any claims, assertion of rights or pursuit of remedies, by or against
the Funds, including, without limitation, professional and other advisory and consulting expenses and travel

expenses, and whether or not pursuant to bankruptcy or other legal proceedings, or participation in informal
committees of creditors or other security holders of an issuer.

Please refer to the relevant Fund’s Governing Documents for a complete understanding of each Fund’s
fees and expenses. The information contained herein is a summary only and is qualified in its entirety by
the relevant Fund’s Governing Documents.

Expenses charged on the managed accounts would be negotiated separately at the time of executing the
Governing Documents.

D. Timing of Fee Payments

As described above, Management Fees until May 14, 2025, were paid quarterly in arrears and effective
May 15, 2025, is payable on a fortnightly basis (i.e., 15th day and the last day of each calendar month).
Accounts initiated or terminated during the relevant periods will be charged a pro-rated Management Fee.

As detailed above, the Subscription Fee is charged to investors at the time of subscription.

E. Payments to Employees

Neither Alchemy nor any of its employees will accept compensation for the sale of securities or other
investment products.

ITEM 7. TYPES OF CLIENTS

As further described in Item 4 of this Brochure, Alchemy currently provides investment advisory services
to the pooled investment vehicles, certain of which operate as exempt investment companies under Section
3(c)(1) of the Investment Company Act. Interests in these Funds will be limited to individuals and entities
that meet the criteria of “accredited investors” as defined under Rule 501(a) of Regulation D. Prospective
investors should refer to the applicable Fund’s Governing Documents for complete information regarding
the minimum investment requirements for participation in the Funds. Typically, the Funds require a
minimum investment of $150,000, although each Fund’s management personnel, in consultation with the
Firm, maintains discretion to individually waive, increase or reduce the minimum investment required.

Alchemy also provides investment advisory services to high-net-worth individuals, institutional investors
and other “qualified clients”, as such term is defined in the Advisers Act, via separately managed accounts
established for such investors or through such persons’ investments into a Client managed by Alchemy.
Any minimum account requirements on any future separately managed accounts or such investments
described in the foregoing will be described in the relevant Governing Documents.