Alta Fox Capital Management LLC

ITEM 5: FEES AND COMPENSATION
DESCRIPTION OF COMPENSATION AND FEE SCHEDULE
In consideration of our advisory services, Alta Fox generally receives a management fee and a performance allocation
with respect to the Funds. While our fees are described in detail in the Fund’s governing and offering documents, a
brief summary of our advisory fees is set forth below.
The Alta Fox Opportunities Fund currently offers a single class of interests, “Class D Interests,” which are subject to
a twenty-four (24) month lock-up period. Class D Interests are generally available for investments greater than $3
million. The Fund previously offered other classes of interests; however, such classes are no longer available to new
investors and remain outstanding only with respect to existing investors. Investors in Class D Interests pay an annual
management fee of 1.5% of each investor’s capital account balance. The management fee is payable to Alta Fox in
advance on a quarterly basis.
In addition, investors are subject to a performance-based profit allocation, the performance allocation, payable to the
General Partner at the end of each calendar year. The performance allocation is equal to 20.0% of the amount by which
the Fund’s net profits allocated to the investor’s capital account for the current calendar year exceed the balance in the
investor’s carryforward account. Net profits include unrealized appreciation and depreciation of both marketable and
non-marketable investments.
Performance Allocation
Interests in the Fund are suitable only for sophisticated investors (i) that do not require immediate liquidity for their
investments; (ii) for which an investment in the Fund does not constitute a complete investment program; (iii) that
fully understand and are willing to assume the risks involved in the Fund’s investment program; and (iv) that are (A)
“accredited investors” under the United States (“U.S.”) Securities Act of 1933, as amended (the “Securities Act”) and
(B) “qualified clients,” as that term is defined in the rules of the Advisers Act. The Interests are being offered subject
to the right of the General Partner, in its sole and absolute discretion, to reject any subscription, in whole or in part, for
any or no reason.
Our advisory fees with respect to each investor in the Fund generally are not negotiable. However, Alta Fox has and
may in the future enter into, side letters or similar arrangements with certain investors that grant different terms
(including lower fees) to such investors than the terms generally applicable to other investors in the Fund.
OTHER FEES AND EXPENSES
In general, each Fund will bear all of its operating expenses (collectively, the “Fund Expenses”), which will include,
without limitation: organizational and offering expenses, all costs and expenses incurred in sourcing, negotiating,
investigating, researching, financing, structuring of investments, travel, research, etc. The Fund also bears all out-of-
pocket costs of the administration of the Fund, including accounting, audit and legal expenses, costs of any litigation
or investigation involving the Fund’s activities and costs associated with reporting and providing information to
existing and prospective investors. However, the General Partner may, in its sole discretion, choose to absorb any such
expenses incurred on behalf of the Fund. Fund expenses shall not exceed 0.5% of annual average net asset value
(applied to each capital account on a pro rata basis for a portion of such year the capital account was in existence).
The Fund bears all costs and expenses related to its investment program, including expenses related to proxies,
underwriting and private placements, Bloomberg terminals, research, trade publications, brokerage commissions,
interest on debit balances or borrowings, custody fees and any withholding or transfer taxes imposed on the Fund.
As noted above, the Fund is generally responsible for and pays all brokerage commissions and other transaction costs.

See Item 12: Brokerage Practices.

COMPENSATION FOR THE SALE OF SECURITIES OR OTHER INVESTMENT PRODUCTS
Neither Alta Fox nor any of our supervised person accepts compensation for the sale of securities or other investment
products.

ITEM 7: TYPES OF CLIENTS

DESCRIPTION
Alta Fox currently provides investment advisory and management services to our affiliated private investment Funds.
The Funds have various types of investors, including, but not limited to, trusts, family offices, natural persons,
individual retirement accounts and other entities.
ACCOUNT REQUIREMENTS
The minimum initial capital contribution generally required from an investor in the Alta Fox Opportunities Fund is
$3,000,000, although capital contributions of lesser amounts may be accepted at the discretion of the General Partner
or Alta Fox. The minimum investment in the current SPV is $250,000. However, the SPV is closed to new investors.
Each investor in the Alta Fox Opportunities Fund and certain SPVs generally must be, among other things (i) an
“accredited investor,” as such term is defined in Rule 501(a) of Regulation D under the Securities Act, and (ii) a
“qualified purchaser,” as such term is defined in Section 3(c)(7) of the Investment Company Act. In addition, each
respective investor is required to complete and return various subscription documents to Alta Fox, which are designed
to provide the Funds, us and our affiliates and agents with important information about the prospective investor.
Subscriptions may be accepted or rejected, in whole or in part, at the discretion of the General Partner or Alta Fox.