Arctis Global LLC

Fees and Compensation

A.       As an SEC registered investment adviser which provides services to private funds that exclusively
accept “Qualified Purchasers,” as defined by the Investment Company Act, Arctis Global is not required to
disclose its specific compensation terms in this Sub-Item.

B.       Arctis Global receives an annualized management fee (“Management Fee”) equal to a percentage of
the value of each investor’s capital account, subject to certain variations based on the class or series of Fund
interest held by an investor. The Firm will also receive incentive-based compensation (“Incentive Allocation”)
equal to a percentage of a Fund’s net profits per annum, subject to any applicable high-water marks and/or
hurdle rates of return, as specified in the Governing Documents.

The Firm receives the prorated Management Fee directly from the Funds which are payable on a monthly
basis for the Cayman Feeder and the US Feeder. The calculation of the Management Fee is derived from the
most recent calculation of net asset value, as determined by the Funds’ administrator and confirmed by Arctis
Global. The Incentive Allocation, if any, is calculated as of the end of each fiscal year and deducted directly
from the Funds.

C.       Arctis Global and the Funds generally bear their own expenses. Expenses, above and beyond the
Management Fee and Incentive Allocation discussed above, are allocated on a case by case basis in
accordance with the Governing Documents. Additional expenses the Funds will incur generally include but
are not limited to Fund operating expenses and organizational expenses, which include (without limitation):

         (i) all investment-related costs and expenses (i.e., expenses that, in the Firm’s sole discretion, are
related to the investment of the Fund’s assets, whether or not such investments are consummated), including
fees and expenses for appointed representative arrangements, depositary fees, commissions and charges,
interest on margin accounts and other indebtedness, expenses relating to short sales, clearing and settlement
charges, option premiums, custodial and service fees, research-related expenses, expenses relating to
consultants, attorneys, brokers or other professionals or advisors who provide research, advice or due
diligence services with regard to investments;

        (iii) the Funds’ legal, accounting (including fees associated with accounting software and systems),
tax preparation and other tax-related expenses (including preparation and mailing costs of financial
statements, tax returns and other reports to investors), auditing, consulting and other professional expenses;

         (iv) third-party administration costs, fees and expenses (including any costs, fees and expenses related
to investor communications, relations, reporting or other investor materials, tax preparation and related
reporting, performance information, proxy voting vendors, class action servicers, data extraction and other
types of reporting and any audit or accounting services provided by a third-party administrator);

        (v) all fees and charges of custodians, depositaries, clearing agencies and banks;

         (vi) compliance and reporting expenses and expenses attributable to regulatory filings that are made
with respect to the Funds or assets of the Funds (including Section 13, Section 16, Form D, Form PF,
FATCA, anti-money laundering compliance, state security filings, general regulatory compliance and non-U.S.
position reporting filings, if applicable, and non-U.S. filings, if any);

         (vii) the Funds’ pro rata share of Fund-related insurance costs (including the Funds’ pro rata portion
of director’s and officer’s insurance, errors and omissions insurance, fidelity insurance and other similar
policies covering the Firm);

        (viii) any taxes (including but not limited to any withholding taxes, transfer taxes, stamp duties and
other governmental or self-regulatory agency-related charges or duties);

         (ix) all costs and expenses incurred in attempting to protect and enhance the value of a Fund
investment (including any fees and expenses associated with any pending or threatened litigation, audit,
investigation, administrative or other proceeding, as well as any settlement costs);

        (x) any fees and expenses related to a Fund’s liquidation, if applicable;

        (xi) fees paid to proxy and securities class action advisory firms;

        (xii) expenses relating to the offer and sale of Interests in the Funds, as applicable, and
withdrawals/redemptions and transfers thereof;

        (xiii) Each Fund’s directors’ fees and expenses;

         (xiv) other reasonable expenses related to the purchase, sale, preservation or transmittal of the Funds’
assets; and

        (xv) any extraordinary expenses (e.g., indemnification expenses).

Certain expenses of the Master Fund that are specific to the Cayman or LP Feeder may be specially charged
to the Cayman or LP Feeder, as applicable. As a result, the performance of each Fund may be different from
the others.

The Funds do not have their own separate employees or offices, and they do not reimburse Arctis Global for
salaries or office rent. The Firm is responsible for all of its overhead expenses and other similar expenses,
except as provided for herein.

The fee and expense description in this Brochure does not purport to be complete or comprehensive and
investors should refer to the Governing Documents for a more robust explanation.

D.       Typically, the Management Fee and Incentive Allocation (to the extent such compensation is earned)
is paid monthly in arrears.

E.       Except as otherwise disclosed, neither the Firm nor any of its supervised persons receive, directly or
indirectly, any compensation from the sale of securities or other investment products.

Types of Clients

Arctis Global provides investment advisory services to pooled investment vehicles that are excepted from the
definition of investment company under the Investment Company Act. As discussed in Item 4, interests in
the Funds will be offered privately and generally available only to persons who are “Qualified Purchasers” as
defined in Section 2(a)(51) of the Investment Company Act. The minimum initial capital contributions are
$1,000,000 and $100,000, for the Feeder and the US Feeder, respectively, subject to waiver at the Firm’s
discretion.