AMS Children's Fund LP

Item 5 – Fees and Compensation

General

AMS provides investment advisory services to the Funds pursuant to the Governing Fund
Documents, which set forth in detail the applicable fee structures. AMS receives compensation
from management fees based on a percentage of assets under management, incentive allocations
and certain other fees or expenses related to the Funds (as described below). Investors should

review all fees charged by AMS to fully understand the total amount of fees to be paid by the
Funds and, indirectly, by the underlying investors.

Management Fee

The Funds, on behalf of its respective investors, pay AMS a management fee of 1.50% of net asset
value on an annualized basis. As set forth in the Governing Fund Documents, such management
fee is subject to certain reductions based on the class of shares available when an investor makes
an investment. The management fee is paid monthly in advance and is not negotiable. In the rare
event an investor is permitted to withdraw outside the withdrawal provisions of the Governing
Fund Documents, any prepaid management fees attributable to the period following the effective
withdrawal date will be prorated and refunded. Generally, because investors cannot withdraw
except as provided in the governing documents, refunds of prepaid fees are not typically available.
The management fee is deducted directly from the Funds.

Without the consent of, or notice to, any other investor, AMS may elect to reduce, waive, assign,
participate or otherwise share the management fee payable with respect to some investors
(including affiliates of AMS).

Incentive Allocation

An affiliate of AMS is entitled to receive from the Funds, on behalf of their respective investors,
an annual incentive allocation of 18% of new realized and unrealized income and gains, subject to
a high watermark (which may vary depending on the class of interests that are held) and are not
negotiable. Upon a full or partial withdrawal or redemption by an investor other than at the end of
a fiscal year, there will be a special determination of the incentive allocation with respect to the
amount withdrawn or redeemed.

Without the consent of, or notice to, any other investor, AMS may elect to reduce, waive, assign,
participate or otherwise share the incentive allocation payable with respect to some investors
(including affiliates of AMS).

Expenses and Other Fees Attributable to the Funds

In general, the Funds bear all of their operating expenses, including but not limited to:

   •   expenses incurred in connection with the organization and offering of interests and the
       admission of investors,
   •   communications with investors and the expenses of any meeting of investors,

   •   expenses and charges incurred in connection with the investment and trading activities of
       the Funds (e.g., brokerage commissions, mark-ups, margin interest, expenses related to
       short sales, custodial fees, clearing and settlement charges, interest on, and fees and
       expenses arising out of, all borrowings made by the Fund and other transaction costs to brokers),
   •   ongoing legal, accounting, auditing, administration, bookkeeping, consulting and other
       professional fees and expenses, including for litigation, and preparation of the Funds’
       financial statements and reports,
   •   all expenses related to tax preparation fees (including, without limitation, any such fees
       related to the preparation of tax returns and Schedule K-1s),
   •   governmental fees and taxes (or any other governmental charges levied against the Funds),
   •   fees and expenses related to third-party research, publications, data and data services
       (including pricing services), research provided by banks, brokerage firms and other
       vendors (regardless of the mechanism used to pay for such research), expert matching
       services, news services, business and political analysis services, due diligence and other
       investigative services and travel expenses incurred in connection with investment due
       diligence,
   •   costs of compliance with applicable laws and regulations of governmental and self-
       regulatory bodies, including costs incurred in connection with any regulatory or legal
       filings (or registrations) required to be made with respect to the Funds,
   •   all fees and other expenses incurred in connection with the investigation, prosecution or
       defense of any claims by or against the Fund and the costs of any litigation and
       indemnification relating to the affairs of the Funds,
   •   insurance premiums of the Funds, the General Partner and the Advisor,

Fund expenses generally will be shared among all investors in accordance with the respective
balances thereof; provided that AMS may, under certain circumstances, allocate certain costs and
expenses incurred by the Funds solely to one or more investors or groups of investors, in
accordance with the terms of the Governing Fund Documents.

Neither AMS nor any of its supervised persons receives any compensation from the sale of
securities or other investment products.