Alquity Investment Management Ltd

Item 5: Fees and Compensation
Alquity receives compensation from the Clients in the form of fees based on a percentage of assets
under management. Current and prospective clients should carefully review all fees charged
by Alquity.

Management Fee: In consideration for its services, Alquity intends to charge an annual fee in a form
of a percentage of the value of Client’s account (the “Management Fee”). The Management Fee is
negotiated separately with each client and is payable in arrears at the end of each quarter, based on
the average net market value of each Client’s account during a given quarter.

On a quarterly basis, Alquity directly bills Clients for fees. Currently, Alquity does not
anticipate charging fees in advance.

Other Expenses Charged to the Clients: In addition to the Management Fee described above, Clients
will be subject to the expenses consisting of, but not limited to: investment expenses such as
commissions, research fees and expenses (including research-related travel); interest on margin

accounts and indebtedness; borrowing charges on securities sold short; custodial fees; bank service
fees; and any other expenses related to the purchase, sale or transmittal of client assets.

Expenses charged to client accounts may vary for each client, depending on client specific investment
objectives, limitations and geographical restrictions.

A full description of the fees and expenses are contained in applicable Investment Management
Agreement or other governing documents executed between Alquity and each Client.

Alquity renders its services to the Clients at its own expense and is responsible for its overhead
expenses including: office rent; utilities; furniture and fixtures; stationery; secretarial/internal
administrative services; salaries and bonuses; entertainment expenses; employee insurance and payroll
taxes.

Item 7: Types of Clients
Alquity also provides discretionary management and advisory services to UCITS Funds that are
offered exclusive to investors residing outside of the United States.

In the future, Alquity may also provide investment management services for other clients, including,
but not limited to pooled investment vehicles.