Alpha Innovations Ltd

Item 5. Fees and Compensation
The Adviser typically charges Clients an asset-based investment management fee (the “Management
Fee”) based on the value of the Client’s net assets under management. In addition, the Adviser may
receive a performance-based fee (the “Performance Fee”), which is calculated based on a share of the
realized and unrealized appreciation in the value of the Client’s assets. Client investors are subject to the
Management Fee and Performance Fee indirectly through their investment in the Client, the exact details
of which are set forth in the Governing Documents.

The Management Fee will generally accrue daily and be payable monthly in arrears, typically at an annual
rate between 1% - 2% of the net asset value of each investor’s account. The Adviser, through the fund
administrator, instructs the Client’s custodian to deduct the Management Fee from the Client’s account
or invoices the Client in the case of SMAs.

The Performance Fee charged to each Client is generally 20% of the Client's net profits, including realized
and unrealized gains and losses, and is typically subject to a high-water mark. Performance Fees are
generally accrued on a monthly basis and paid on a quarterly basis in arrears.

The Adviser also receives “Consulting Fees” in connection with providing non-discretionary research,
trade ideas, and other consulting inputs to unaffiliated third-parties pursuant to separate consulting
agreements. These Consulting Fees generally include a fixed fee paid in cash on a periodic basis and/or a
fee tied to investment performance of the Client’s portfolio.

In addition to paying the Fees described above, the Client is subject to other expenses, such as legal,
accounting, auditing and other professional expenses, research expenses, organizational expenses,
operating and governance expenses, investment expenses such as commissions, custodial fees, bank
service fees and other expenses related to the purchase, sale or transmittal of client assets, including
assets for which there is no ready market, or which are subject to legal or contractual restrictions on sale
or which have other characteristics which, in the Adviser’s or its affiliate’s sole discretion, warrant holding
such assets until the resolution of a special event or circumstance. Affiliates of the Adviser also perform
services for certain Clients, such as acting as the fund platform manager and/or distributor, or performing
reporting and operational functions, and a portion of the expenses borne by such Clients will be payable
to the Adviser’s affiliates as compensation for their services. Any use of Affiliates for such services is
disclosed in the respective Client’s applicable Governing Document.

It is important that each investor who is considering an investment in a Fund review the Governing
Documents applicable to the Fund for a detailed description of the fees and expenses to which such
investment, including Designated Investments, is subject. In addition, please see Item 12 of this Brochure,
regarding brokerage and transaction fees the Funds will incur.

Common expenses are incurred on behalf of more than one Client. In such instances, the Adviser seeks
to allocate those common expenses among the Clients in a manner that is fair, equitable, and reasonable
over time. However, expense allocation decisions may involve potential conflicts of interest (e.g.,
conflicts relating to different expense arrangements with certain Clients). The Adviser uses various
methods to allocate expenses among Clients depending on the circumstances (e.g., pro rata based on
assets under management or relative participation in the related expense, etc.). The determination as to
the method(s) used will generally be based on relative use of the product or service, the nature or source
of the product or service, the relative benefits derived by the Clients from the product or service, or
other relevant factors.

The Adviser, in its sole discretion, has and may in the future waive or reduce, or enter into other
arrangements regarding, the Management Fee and the Performance Fee for investors that are principals,
employees or affiliates of the Adviser, relatives of such persons, and for certain large or strategic investors.
In addition, the Clients and principals of the Adviser have negotiated, waived or reduced fees and may do
so in the future in connection with certain investments.

Item 7. Types of Clients
As described in Item 4, the Adviser’s clients are private pooled investment vehicles and separately
managed accounts suitable for accredited, institutional and other sophisticated investors. Any initial and
additional subscription minimums for investors are disclosed in the applicable Client’s Governing
Documents.