Arkhouse Management Co LP

Item 5.     Fees and Compensation

The Funds pay the Firm a quarterly management fee ranging from 0.375% (1.5% on an annualized basis) to
0.5% (2% on an annualized basis). The Firm deducts such management fees from each Fund in advance of
each quarter. In addition, the Firm, or one of its affiliates serving as the general partner or manager of a
Fund (the “Arkhouse GPs”), will be entitled to receive a performance-based fee from the Funds, as further
described in Item 6 – Performance-Based Fees and Side-By-Side Management.

The Firm, in its discretion, may elect to reduce, waive or calculate differently the management fee with
respect to any investors in the Funds, including, without limitation, investors that are affiliates or
employees of the Firm, members of the immediate families of such persons, and trusts or other entities
for their benefit.

A full description of management fees is included in each Fund’s Governing Documents.

Fund Expenses

The Funds will bear their own operating and other expenses (either directly or indirectly by reimbursing
the relevant Arkhouse GP or the Firm for amounts incurred by either of them on behalf of the Funds),
including, but not limited to, expenses related to the relevant Fund's assets (e.g., brokerage commissions,
clearing and settlement charges, custodial fees, interest expense, consulting and other professional fees
relating to Fund investments and/or interim investments (including finder’s fees, success fees and
compensation structured as a percentage of appreciation of one or more assets), investment-related
reasonable travel and lodging expenses (to the extent consistent with the Arkhouse GPs internal policies)
and research-related expenses (except to the extent provided through soft dollars or otherwise payable
by the Funds), including, without limitation, news and quotation equipment and services), third-party
asset valuation expenses, third-party legal expenses (e.g., outside law firm expenses), third-party

Arkhouse Management Co. LP                                                                   Form ADV Part 2A

accounting, audit and tax preparation expenses, fees and expenses related to any shareholder
engagement-related activities, litigation expenses, fees paid to proxy and securities class action advisory
firms, organizational expenses, expenses relating to the offer and sale of Interests and withdrawals and
transfers thereof, management fees, fees to the Funds’ administrator, expenses relating to the liability
insurance and/or errors and omissions insurance for the officers of the Firm and Arkhouse GPs,
extraordinary expenses and other similar expenses related to the purchase, sale or transmittal of the
Funds’ assets.

The Funds will pay (or reimburse the Arkhouse GPs or the Firm) for all other actual out-of-pocket expenses
incurred in connection with the organization of the Funds and the offering of the interests, including third-
party legal and accounting fees, printing costs, costs of registrations or other regulatory filings of the
Funds, negotiations with prospective investors, including costs of entering into side letters or other
agreements, travel and other expenses (collectively, the “Organizational Expenses”). The Funds may, in
their sole discretion, amortize their Organizational Expenses over a period of up to 60 months from the
date the Fund commences operations for net asset value purposes.

The allocation of expenses by the Firm between it and any Fund and among Funds represents a conflict
of interest for the Firm. To address this conflict, the Firm has adopted and implemented policies and
procedures for the allocation of expenses. The Firm allocates expenses to each Fund in accordance with
the Fund’s Governing Documents. The Firm will seek to allocate any shared expenses for products and
services benefitting multiple Funds or both the Firm and a Fund and not covered in a Fund’s Governing
Documents, in a fair and reasonable manner.

For a detailed discussion of brokerage and transaction costs, see Item 12 – Brokerage Practices.

Item 7.     Types of Clients

The Firm’s clients consist of the Funds. Any initial and additional subscription minimums with respect to
investment in a Fund is disclosed in the Governing Documents for each Fund.