ANDA Asset Management Co Ltd

ITEM 5 – FEES AND COMPENSATION

A.    Basic Fee Schedule

      Management fees are generally up to 1.5% per annum of the net asset value of the relevant
      Private Funds. For certain Private Funds, performance fees are generally up to 20% of the
      appreciation in the net asset value per unit above the high watermark, payable annually. The
      fees paid to ANDA by Private Funds are set out in the respective PPM and investment
      management/advisory and/or sub-advisory agreement.

      For Private Funds, there may be subscription and/or redemption charges that are separate
      payments due at the time of subscription and/or redemption, details of which are set out in
      each Fund’s respective PPM. All redemption charges are retained by the relevant Private
      Fund for the benefit of the remaining Private Fund investors.

      For Managed Accounts, management fees are agreed with the client based on the size of the
      account, the complexity of the mandate, the extent of reporting requirements and other
      factors. The fees paid to ANDA are set out in the respective investment advisory / sub-
      investment management agreement. Performance fees will only be charged to Managed
      Accounts owned by U.S. clients who would meet the definition of a “Qualified Client” as
      provided by Rule 205-3 of the Investment Advisers Act and upon agreement with the client.

B.    Calculation and Deduction of Fees

      Management fees are paid on a monthly or quarterly basis in arrears as instructed by the
      relevant administrator of the Private Funds, as specified in each Fund’s respective PPM.
      For Managed Accounts, management fees are typically deducted from the clients’ assets
      quarterly at the instruction of the clients. Managed Account clients may instead choose to
      pay management fees directly at the end of each quarter.

C.    Other Fees or Expenses Payable by the Clients

      In addition to management fees and performance fees (mentioned above and in Item 6
      below), investors in the Private Funds will indirectly bear any other costs charged to the
      Private Funds. Such costs will vary and typically include, but are not limited to, accounting,
      legal, fund administration fees, custodian fees, audit fees, directors’ fees and other related
      costs. Further, the Private Funds will incur brokerage commissions, transaction fees, and
      other related costs and expenses including, but not limited to, charges imposed by custodians,
      administrators, brokers, transfer taxes, wire transfer and electronic fund fees, and other fees
      and taxes on brokerage accounts and securities transactions.

      Managed Account clients will need to bear custodian fees, brokerage commissions,
      transaction fees, issue and transfer taxes, administration fees, bank service fees, and other
      related costs and expenses.

      Such charges, fees and commissions are exclusive of and in addition to the fees charged by
      ANDA and ANDA does not receive any portion of those commissions, fees and costs.

D.    Advance Fees Payable by the Clients

      Fees charged to clients (other than ANDA’s clients who are residents of Korea) are not
      payable in advance. Fees are charged in arrears as described in Item 5A. above.

ITEM 7 – TYPES OF CLIENTS

ANDA’s clients include pooled private investment vehicles and separately managed accounts set up by
institutional investors, individuals and corporations. Minimum investment requirement of KRW 300
million, approximately USD 198,229, is generally imposed on each client that wants to invest in pooled
private investment vehicles advised by ANDA.