Arohi Asset Management PTE Ltd

Item 5. Fees and Compensation

Management Fees

The Firm charges a monthly management fee in arrears equal to one-twelfth of 1.00% per
annum of the month-end net asset value of the relevant fund (pro-rated for periods of less
than one month), accrued daily and calculated as at each valuation date. The management
fee is payable within 14 days after the relevant month-end valuation date.

The Firm also offers a relative benchmark fee structure with a monthly management fee
(paid in arrears) equal to one-twelfth of 0.50% per annum of the market value of the
account. The fees applicable to separately managed accounts are detailed in the relevant
investment advisory or management agreement for each account and may vary slightly (in
terms of mechanics) from the fees paid by the funds.

Performance Fees

The Firm is entitled to receive a performance fee from the funds, calculated on a series-by-
series basis so that each series of shares is charged a performance fee that equates precisely
with the performance of that series. This method ensures that any performance fee paid to
the Firm is charged only to the series that have appreciated above both a high-water mark
and the target NAV (hurdle).

For each performance period (commencing on the first business day after the close of the
initial offer period or the dealing day for subscriptions on which the relevant series is issued,
and ending on December 31 of the year in which the period commences; thereafter, each
period of 12 calendar months commencing January 1), the performance fee in respect of
each series equals to 20% of the appreciation in the net asset value of that series above the
higher of (i) high-water mark and (ii) the applicable target NAV for the relevant performance
period. The performance fee is accrued as at each valuation point, calculated after accrual
of the management fee and before deduction for any accrued performance fee.

For the relative benchmark fee structure, the Firm is entitled to a performance fee equal to
20% of the amount by which performance exceeds the applicable benchmark return plus
2%.

The performance fee arrangements applicable to separately managed accounts are detailed
in the relevant investment advisory or management agreement. These arrangements may
vary in calculation methodology from those applicable to the funds. If the management
agreement is terminated before December 31 in any year, the performance fee for the then-
current performance period will be calculated and paid as though the date of termination
were the end of the relevant period.

                                  AROHI ASSET MANAGEMENT PTE. LTD.
                        2 Battery Road, #24-01 Maybank Tower, Singapore 049907
                          Tel: (65) 6535 6171 | www.arohi.com | adviserinfo.sec.gov
85575096;4; 00194-002

                               AROHI ASSET MANAGEMENT PTE. LTD. | FORM ADV PART 2A – FIRM BROCHURE

Expenses

The Firm and the funds’ administrator are responsible for providing and paying for all office
personnel, office space, and office facilities required for the performance of their respective
services to the funds. The funds bear all of their operating and administrative expenses,
including (without limitation):

        Management fees and performance fees payable to the Firm
        Administrator fees and custodian fees
        Auditor fees
        Director fees
        Local tax advisor fees
        Brokerage and execution charges, commissions, and custodial charges related to
         fund investments
        Regulatory filing fees
        Legal and consulting fees incurred in the operation of the funds
        Insurance premiums for directors’ and officers’ liability insurance
        Costs of publishing net asset values and printing and distributing annual reports and
         investor statements

Each feeder fund bears its pro-rata share of the applicable master fund’s operating
expenses. Expenses relating to primary due diligence on investee companies (including
travel costs and other direct costs of company and industry research) are borne by the Firm
and are not charged to the funds or separately managed accounts.

Where services are provided between the Firm and its wholly owned Indian subsidiaries
pursuant to inter-company service agreements, the fees payable under those agreements
are determined on arm’s length principles. The Firm does not charge to client accounts any
fees or costs arising from inter-company service arrangements.

Billing and Payment

Management fees payable by the funds are deducted from fund assets and paid to the Firm.
Fees for separately managed accounts are billed to the client in accordance with the
relevant investment management agreement. Further details of how fees are calculated for
each fund are contained in the offering documents of the relevant fund.

                                  AROHI ASSET MANAGEMENT PTE. LTD.
                        2 Battery Road, #24-01 Maybank Tower, Singapore 049907
                          Tel: (65) 6535 6171 | www.arohi.com | adviserinfo.sec.gov
85575096;4; 00194-002

                               AROHI ASSET MANAGEMENT PTE. LTD. | FORM ADV PART 2A – FIRM BROCHURE

Item 7. Types of Clients

The Firm provides discretionary investment advisory services to private investment funds
and institutional separately managed accounts. Most of the Firm’s fund investors and
separately managed account clients are long-term institutional investors, including
university endowments, foundations, pension and sovereign wealth funds, and family
offices. The Firm does not currently provide investment advisory services to retail investors.

Minimum Investment Amounts

The current minimum investment size for a separately managed account is generally USD
200 million, subject to waiver at the Firm’s discretion. Each fund has a minimum initial
investment amount of USD 100,000; additional investments must be made in increments of
USD 100,000. These minimums may be reduced or waived by the Firm or board of directors
of the relevant fund, subject to any applicable statutory minimums.

Client Composition

The following table summarise the composition of investors in funds managed by the Firm
and separately managed accounts as of March 31, 2026:

 Geography                                                                            % of AUM
 North America and Canada                                                               50%
 Asia Pacific (including Singapore)                                                     46%
 Others (Europe & Australia)                                                             4%

 Type of Investor                                                                     % of AUM
 Endowments                                                                             47%
 Internal Capital                                                                       20%
 High Net Worth Individuals                                                             16%
 Sovereign Wealth Fund                                                                  10%
 Foundation                                                                              7%
 Others                                                                               0% (<1%)

Note: Internal Capital represents the investments made by Arohi Asset Management Pte. Ltd. and its
employees

Investment Company Act Exclusions

Each fund that accepts U.S. investors relies on an exclusion from the definition of
“investment company” under the Investment Company Act of 1940. The applicable
exclusion for each fund is either:

                                  AROHI ASSET MANAGEMENT PTE. LTD.
                        2 Battery Road, #24-01 Maybank Tower, Singapore 049907
                          Tel: (65) 6535 6171 | www.arohi.com | adviserinfo.sec.gov
85575096;4; 00194-002

                               AROHI ASSET MANAGEMENT PTE. LTD. | FORM ADV PART 2A – FIRM BROCHURE
        Section 3(c)(1), which is available to issuers whose outstanding securities are
         beneficially owned by not more than 100 persons and that do not make or propose
         to make a public offering of their securities; or
        Section 3(c)(7), which is available to issuers whose outstanding securities are owned
         exclusively by persons who, at the time of acquisition, are “qualified purchasers” as
         defined in Section 2(a)(51) of the Investment Company Act, and that do not make or
         propose to make a public offering of their securities.

The applicable exclusion for each fund is disclosed in the relevant fund’s offering
documents. U.S. investors in Section 3(c)(1) funds are required to be accredited investors
within the meaning of Rule 501(a) of Regulation D. U.S. investors in Section 3(c)(7) funds are
required to be accredited investors within the meaning of Rule 501(a) of Regulation D and
qualified purchasers. The Firm does not admit U.S. investors into any fund except in
accordance with these requirements.

                                  AROHI ASSET MANAGEMENT PTE. LTD.
                        2 Battery Road, #24-01 Maybank Tower, Singapore 049907
                          Tel: (65) 6535 6171 | www.arohi.com | adviserinfo.sec.gov
85575096;4; 00194-002

                               AROHI ASSET MANAGEMENT PTE. LTD. | FORM ADV PART 2A – FIRM BROCHURE