Antara Capital LP

Item 5: Fees and Compensation
The fees applicable to the Funds are set forth in detail in the corresponding Offering Documents, as such
fee terms were previously amended with respect to the Series I shares/interests (as to the Antara Fund) and
the Series L shares/interests (as to the SPAC Fund), as described below. A brief summary of such fees is
provided below.

Management Fee

For the Antara Fund, as to Series other than Series I, Antara will generally be paid an asset-based fee
(“Asset-Based Fee”) for each quarter equal to 0.4375% (1.75% per annum), 0.3125% (1.25% per annum)
or 0.375% (1.5% per annum) of the net asset value of each Investor’s interest in the Fund (depending on
the series in which an Investor invests). The Asset-Based Fee is normally charged on the first day of each
quarter and is paid in advance based on the net asset value of each Investor’s interest on the first business
day of such quarter. A portion of the Asset-Based Fee will be paid to a strategic investor in consideration
for its investment in the Master Fund. The Asset-Based Amounts will have prorated for any period that is
less than a full calendar quarter. In our sole discretion, the Asset-Based Amounts may be waived, reduced
or calculated differently with respect to certain Investors.

In respect of that certain portion of the Antara Fund that has been allocated to Series I as of December 31,
2023, Antara will be paid the Asset-Based Fee, quarterly in advance at the prevailing Asset-Based Fee for
the first calendar year (2024), 1.0% in the second calendar year, and 0.5% thereafter through the final
liquidation of Series I investments.

For the SPAC Fund, with the consent the requisite number of Investors and pursuant to a side letter entered
into with these Investors, Antara has restructured the SPAC Fund so all investors are now in one series
(“Series L”), and Series L will is managed as a wind-down vehicle for remaining SPAC Fund investments.
With respect to Series L and the SPAC Fund altogether, no Asset-Based Amount or Incentive Allocation
shall be applied with respect to the Series L Investors, as if the Asset-Based amount and the Incentive
Allocation rates were each zero (including, for the avoidance of doubt, with respect to any accrued Asset-
Based Amount or Incentive Allocation).

Incentive Allocation

Generally, the Funds’ General Partners are entitled to receive an incentive allocation equal to 15% or 20%
of the net capital appreciation (based on realized and unrealized gains and losses), if any, of Investors’
investments in the Funds at the end of each fiscal year, or an earlier date with respect to any capital
withdrawn or redeemed prior to the end of a fiscal year or upon the dissolution of the Funds, in each case
subject to recoupment of losses for prior periods (the “Incentive Allocation”). The Incentive Allocation
will be calculated and allocated at the Master Fund level but will take into account any feeder fund-specific

expenses for purposes of calculating the Incentive Allocation borne by investors. A portion of the Incentive
Allocation will be allocated to a strategic investor in consideration of its investment in the Master Fund.

In the sole discretion of the Funds’ General Partners, the Incentive Allocation may be waived, reduced or
calculated differently with respect to certain Investors.

In respect of the SPAC Fund, from January 1, 2023 until the SPAC Fund is liquidated in full, no Incentive
Allocation or other performance-based compensation will be taken on the SPAC Fund from and after
January 1, 2023.

In respect of the Series I portfolio of the Antara Funds, going forward with respect to Series I only, no
Incentive Allocation or other performance-based compensation will be taken on Series I from and after
January 1, 2024.

Expenses

Antara is authorized to incur and pay in the name and on behalf of the Funds all expenses which they deem
necessary or advisable.

The Firm will provide office space and utilities; administrative services; and secretarial, clerical and other
personnel to the Funds. The Firm will bear the costs of providing such goods and services, and all of its
own overhead costs and expenses, except to the extent such goods, services, costs and expenses are provided
for through soft dollars generated by the Funds or are Fund expenses as provided below.

The Funds will bear their own expenses, including, without limitation, the Asset-Based Amounts;
investment expenses, whether or not such investments are consummated (such as brokerage commissions,
expenses relating to short sales, clearing and settlement charges, custodial fees, bank service fees and
interest expenses); investment-related travel expenses (which are travel expenses related to the purchase,
sale or transmittal of, or due diligence regarding, or management of, the Fund’s investments, whether or
not such investments are consummated, incurred by the Investment Manager or the Funds’ General
Partners); professional fees (including, without limitation, expenses of consultants, investment bankers,
attorneys, accountants and other experts) relating to investments; fees and expenses relating to software
tools, programs or other technology utilized in managing the Funds (including, without limitation, third-
party software licensing, order management systems, implementation, data management and recovery
services and custom development costs); research and market data (including, without limitation, any
computer hardware and connectivity hardware (e.g., telephone and fiber optic lines) incorporated into the
cost of obtaining such research and market data); compliance and regulatory expenses for the Funds
(including, without limitation, fees and expenses with respect to any U.S. Foreign Account Tax Compliance
Act and OECD Standard for Automatic Exchange of Financial Account Information – Common Reporting
Standard compliance and required reporting such as Form PF or Form 13F or in connection with the EU
...

Item 7: Types of Clients
Our Clients are the Funds. We may serve as investment manager to other client accounts in the future. The
Funds generally include investment partnerships or other investment entities formed under non-U.S. laws
and operated as exempt investment pools under the Investment Company Act of 1940, as amended. The
investors participating in the Funds generally include individuals, banks or thrift institutions, other
investment entities, university endowments, sovereign wealth funds, family offices, pension and profit-
sharing plans, trusts, estates or charitable organizations or other corporations or business entities and from
time to time include, directly or indirectly, principals or other employees of Antara and its affiliates and
members of their families, or other service providers retained by Antara, as well as executives of portfolio
companies