Alwyne Management LP

Item 5: Fees and Compensation

The fees applicable to each Fund are set forth in detail in each Fund’s offering documents. A
brief summary of such fees is provided below.

Management Fee

The Fund is charged a quarterly management fee, in arrears, generally based on the net asset
value of the assets under management, typically at a rate equal to 0.125% a month (1.5% per
annum).

The General Partner, in its sole discretion, may be waived, reduced or calculated differently with
respect to certain Investors, including employees or affiliates of the General Partner or the
Investment Manager, relatives of such persons, and for certain large or strategic investors.
The Fund General Partner will not be charged the Management Fee.

Alwyne Management LP                                                           Form ADV Part 2A

Other Types of Fees or Expenses

The Firm will render its services to the Fund at its own expense and will be responsible for its
overhead expenses including: office rent; furniture and fixtures; stationery;
secretarial/internal administrative services; salaries and bonuses; entertainment expenses;
employee insurance and payroll taxes. The Firm will also be responsible for research fees and
expenses.
All other expenses will be paid by the Fund and shall include, but are not limited to: the
Management Fee; Partnership legal, compliance, administrator, audit and accounting
expenses (including third party accounting services); organizational expenses; investment
expenses such as commissions; interest on margin accounts and other indebtedness;
borrowing charges on securities sold short; custodial fees; bank service fees; Fund-related
insurance costs (including D&O and E&O insurance for the Firm and the General Partner and
outside directorship liability); expenses of regulatory compliance, filings and reporting
(including but not limited to Form PF); and any other expenses related to the purchase, sale
or transmittal of Fund assets.
The organizational expenses of the Fund (including expenses of the initial offer and sale of
limited partnership interests) will be paid by the Fund and, for net asset value purposes, may
be amortized over a period of up to 60 months from the date the Fund commences
operations.
The Fund does not have a pre-determined limit on its ordinary or extraordinary operating
expenses. The Fund’s actual annual operating expenses are disclosed in the Fund’s year-end
audited financial statements, which are provided to each Investor.