Apex Capital Management New York LLC

Fees and Compensation
The basic fee schedule of the Adviser is as follows: Apex receives a management fee based on net
assets under management of 2% and a performance allocation of 20% of each investor’s pro rata share
of the net realized and unrealized appreciation in the value of the assets of a Private Fund for such
fiscal year in excess of any net loss carry forward. Performance allocations are subject to a high-water
mark. The net loss carry forward and high-water mark are described in more detail in the Private
Fund’s private placement memorandum. The management fee is paid monthly in arrears based on net
assets at the end of each month. Redemption rights allow for monthly redemptions with fifteen days
notice. Performance allocations are made annually. Certain Private Funds may impose an early
withdrawal fee of 2% of capital withdrawn within six months of its contribution. This fee schedule is
uniquely designed per individual or strategy, and is determined in negotiation with the investor.

Under certain circumstances fees may be negotiated and are refundable for periods the account is not
under management. Further, the Adviser may enter into side agreements with specific investors in
private investment funds that the Adviser provides investment advice to that may provide for
different fees, withdrawal rights, access to information about the Private Funds’ investments, or
other matters relating to an investment in the relevant Private Fund.

If a SMA terminates the investment management agreement with the Adviser in the middle of a
billing period the Adviser will invoice the client for an amount that is prorated based on the number
of days that the account was managed.

In addition to the Adviser’s investment management fees, clients bear trading costs and
administrator fees. Full descriptions of fees applicable to the Private Funds are contained in the
private placement memorandum.

Investment Advice and Consulting Service Fees
The Adviser provides investment advice and consulting services on a non-discretionary basis
and charges fees solely for such advice, typically on an hourly basis.

The Adviser’s rate is disclosed in advance and agreed upon with each client prior to the
engagement. The Adviser does not take custody of client funds or securities and does not have
authority to execute transactions on behalf of clients. All client assets are maintained with
qualified third-party custodians, and clients retain full control and decision-making authority over
their accounts. Fees are based solely on advisory services rendered and are not tied to assets under
management.

Types of Clients
As of December 31, 2025, the Adviser does not have any clients and does not provide
investment advisory services to third parties. The Adviser manages only its own proprietary
assets. The Adviser remains registered and available to offer advisory services to clients in
the future .

Methods of Analysis, Investment Strategies and Risk of Loss
The Adviser seeks to capitalize on pricing anomalies arising from transitory and structural shifts in
Asia’s economic, financial and business operating environment. The Adviser engages in systematic
trading strategies designed to exploit market disparities stemming from transitive factor lags and
temporary dislocations arising from intraregional biases and inefficiencies in a predetermined
universe of large capitalization Asian securities.

The Adviser’s investment process incorporates a targeted analysis of idiosyncratic factors that can
influence the prices of those securities. Among the factors considered are liquidity flows into,
within and out of the region, increases or decreases in available shares, analyst
estimate/recommendation changes, and shifts in local and international investor sentiment and
preferences. The Adviser seeks to maintain real-time data on such factors through its extensive
modeling.

The Adviser attempts to identify investment opportunities through an internal, systematic
screening process, utilizing available data gathered throughout the Adviser’s network. All
potential opportunities are vetted via fundamental checks before inclusion into the portfolio to
avoid conflicting signals.

The Adviser may employ fundamental long or short positions in equities, fixed income instruments,
derivatives or currencies; relative value strategies across companies, industry sectors, market indices
and countries; or any other strategy or combination of strategies, as appropriate, in its attempt to
maximize risk-adjusted returns for investors.

The Adviser uses a combination of
expected volatility, return profile and expected time horizons to construct the portfolio. The Adviser
seeks to: maintain a stable portfolio that behaves according to expected variance; identify and
quantify factor slippage and other risks; and, ensure high levels of liquidity with a large-cap basis.
The Adviser actively monitors the portfolio on a real-time basis for changes in investment
assumptions, risk characteristics/parameters, industry and currency sensitivity/beta and performance
attributions.

 The Adviser provides investment advice to clients on derivative transactions, taking into
 consideration: the available instruments; discussions with and information provided by private
 issuers of such instruments; financial and contractual terms of the derivative instruments as well as
 the financial situations of the client.

 The description provided above is a brief overview of the investment strategy and is not intended to
 be complete. All investing involves a risk of loss and the investment strategy offered by the Adviser
 could lose money over short or even long periods. The Adviser’s strategies utilize investment
 techniques such as options, futures, derivatives, margin transactions and short sales, which practices
 can, in certain circumstances, maximize the adverse impact to which the clients may be subject. The
 Adviser’s strategy generally involves frequent trading of securities, which can impact investment
 performance, particularly through increased brokerage and other transaction costs and taxes.

 The Adviser primarily invests in securities issued by issuers having significant exposure to the Asia
 region. Due to this emphasis, the performance of client accounts will tend to be affected to a greater
 extent by economic and political developments in such region than would be the case if the Adviser
 emphasized a different geographic region or if the Adviser did not emphasize any geographic region.
 Additionally, investments in emerging markets also involve greater risk. Emerging market
 investments are often subject to higher volatility and may be less liquid than comparable developed
 market investments.

 The above risks are not intended to serve as an exhaustive list or comprehensive description of all
 risks that may arise in connection with Apex’s investment strategy. Investors should review the
 Private Fund’s Private Placement Memorandum and other governing documents to understand the
 risks and potential conflicts of interests involved with Apex’s strategy.