Arbour Lane Capital Management LP

Item 5          Fees and Compensation

A.       Advisory Fees and Compensation

The Adviser is entitled to receive a management fee from the Clients for its services (a “Management
Fee”). The Management Fee is payable quarterly in advance or at such other frequency as agreed to
between the Adviser and the Clients (each, a “Fee Period”). To the extent that any installment of the
Management Fee is payable to the Adviser for any period other than a full Fee Period, then such installment
will be prorated based on the number of days in such Fee Period.

In addition to the Management Fee, the Adviser (or its affiliate) is generally entitled to receive a carried
interest allocation (the “Carried Interest”) entitling it to a prescribed portion of the Clients’ profits.

The Adviser’s fee schedule is omitted because this Brochure is only being delivered to “qualified
purchasers” as such term is defined in the Investment Company Act.

B.       Payment of Fees

The Clients are generally required to pay the Management Fee to the Adviser quarterly in advance with
respect to each Fee Period. The Adviser currently does not have the power to directly deduct the
Management Fee in advance from the Portfolio with respect to the relevant Fee Period by instructing the
Portfolio’s custodian. The Adviser does have the power to directly deduct the Management Fee in advance
from the Funds.

C.       Other Fees and Expenses

As more fully described in each Client’s respective offering document, limited partnership agreement or
other similar constitutional document, each Client will generally bear expenses incidental to its operations
and business. These expenses include, but are not limited to, bearing the Management Fee and, if
applicable, the Carried Interest, in addition to organizational expenses; investment expenses such as:
custodial charges, brokerage fees, commissions and related costs; interest expenses; indemnification
expenses; taxes, duties and other governmental charges; transfer and registration fees or similar expenses;
costs associated with foreign exchange transactions; other Client or securities-related expenses; and costs,
expenses and fees associated with products or services that may be necessary or incidental to such
investments or accounts including, but not limited to, auditors, accountants, legal advisors, regulatory and
compliance advisors and administrators, expenses of unconsummated or abandoned investment
transactions, including legal, diligence and other costs associated with proposed transactions that are not
completed (“broken deal expenses”), including any termination fees, reverse termination fees or similar
amounts; costs incurred in sourcing, evaluating, and monitoring investment opportunities, including
expenses related to attendance at industry conferences, trade association meetings, and similar events, and
related travel, lodging, meals, honoraria, speaker fees, and meeting expenses; expenses relating to the
formation, operation, administration, and liquidation of special purpose vehicles, feeder funds, blocker
corporations, parallel funds, or alternative investment vehicles, including related legal, accounting,
banking, registered office, and administrative fees; technology and information systems expenses, including
costs associated with investor portals, subscription processing platforms, reporting systems, data rooms,
digitization or automation of investor onboarding, and information security infrastructure; costs associated
with preparing, negotiating, administering, and monitoring side letters, most favored nation elections, and
similar investor arrangements; regulatory, compliance, and reporting expenses arising under U.S. and non
U.S. regulatory regimes applicable to the Funds, including expenses related to foreign registration, filing,
or reporting obligations and evolving regulatory requirements; data protection, privacy, cybersecurity, and
information governance compliance costs, including compliance with applicable data protection laws and

regulations; insurance premiums and related expenses, including directors’ and officers’, errors and
omissions, cyber liability, fidelity, crime, ERISA bond, umbrella, and similar insurance coverage; expenses
associated with advisory committee meetings and activities, including travel, lodging, professional
advisors, and related administrative costs; marketing, communications, and publicity expenses, including
costs relating to investor communications and announcements relating to investments or dispositions;
expenses incurred in connection with the winding up, dissolution, and liquidation of a Fund; extraordinary,
non recurring, or unforeseen expenses arising in connection with the operations, regulatory oversight,
investigations, audits, or compliance obligations of a Fund; and to the extent permitted under applicable
law and governing documents, any fines, penalties, or interest imposed by governmental or regulatory
authorities

Please refer to Item 12 in this Brochure for a discussion of the Adviser’s brokerage practices, including
factors that we consider when selecting brokers and dealers for client transactions.

D.      Prepayment of Fees

The Clients are generally required to pay the Management Fee to the Adviser quarterly in advance with
respect to each Fee Period. To the extent that the Adviser’s management (or comparable) agreement with
respect to a Client terminating as of any date that does not constitute a full Fee Period, then the Management
Fee payable to the Adviser with respect to such period will be prorated based on the actual number of days
that the Client assets were under the Adviser’s management during such Fee Period. The Adviser will
promptly return any excess amounts paid to it by the Client.

E.      Additional Compensation and Conflicts of Interest

Arbour Lane does not receive any compensation other than the Management Fee outlined herein, and the
Carried Interest described in Item 6.

Item 7          Types of Clients

The Adviser currently provides investment advice to the Clients.

Underlying investors in the Clients include, without limitation, high net-worth individuals, other pooled
investment vehicles, pension and profit-sharing plans, trusts, estates or charitable organizations, and other
corporations or businesses and/or entities that are both “qualified purchasers” as defined in the Investment
Company Act and “accredited investors” as defined in the Securities Act. The offering documents of each
Client set minimum amounts for investment by prospective investors in such Clients. These minimum
amounts may be waived by the Adviser or an affiliate.