Artemis Wealth Advisors LLC

Item 5: Fees and Compensation

Artemis:

Pursuant to advisory agreements entered between Artemis and its clients (each an “Advisory
Agreement”), Artemis charges a flat fee, billed quarterly in advance based on the market value of
the assets. Initially this fee is based on a percentage of what Artemis believes will be the quarterly
fee. Once quarterly AUM is finalized, Artemis will then bill for the remaining portion of the fee,
or provide a refund if necessary. Fees are calculated based on the value of the assets under
management in the account at the end of the previous quarter or, for newly established accounts,
fees are calculated based on the assets under management in the account upon inception, prorated
for the time remaining in the quarter. The rates at which fees are charged are individually
negotiated with each client. Such Advisory Agreements generally remain in place until terminated
by either party.

Advance fees that are paid for any period other than a full quarterly period will be adjusted on a
pro rata basis according to the actual number of days elapsed and reimbursed to the extent
appropriate if an account is terminated before the end of a quarter.

Our standard fee schedule is as follows:

        $5m - $25m              80 - 100 BP

        $25m - $100m            50 - 75 BP

        $100 - ….               40 - 50 BP

Fees may be adjusted based on the composition of assets managed and the complexity of the
accounts.

Form ADV - Part 2A- Artemis Wealth Advisors, LLC (SEC No. 801-71019)

In general, Artemis’ fees are payable by clients by check or bank wire upon receipt of an invoice
prorated for the time remaining in the quarter on a quarterly basis. In some instances, clients will
have the option to have their fees directly debited from their account.

Any refund due to client from a pre-paid fee will be reflected at next quarterly billing cycle if
applicable. The amount of the refund is based on the approved final calculation of assets of that
quarter.

Artemis’ Advisory Agreements provide for a performance-based fee in special situation
investment opportunities based on a percentage of the aggregate net profits attributable to such
special situation investments. See additional details in Item 6 below.

Artemis’ staff does not receive compensation from Underlying Managers, or mutual funds.

Other than the fees outlined above, clients are not charged any additional fees by Artemis. All
other fees incurred by clients in connection with their relationship with Artemis are charged at the
Underlying Manager level at rates negotiated with each Underlying Manager. Such fees may
include, but are not limited to, management fees, performance allocations, custody and
administration fees and expenses, execution, clearing, brokerage and transaction costs and
expenses, delivery, escrow, and custody expenses, bank fees, interest and borrowing charges on
margin accounts, acquisition costs and legal and accounting costs.

Relying Advisers:

Orion charges the Fund a quarterly management fee (“Management Fee”) equal to 0.25% (1.0%
annually) of each investor’s share of the Fund’s net asset value (before deduction of that quarter’s
Management Fee and any accrued performance allocation(fee)). The Management Fee will be
calculated and payable to Orion quarterly, in advance, as of the first day of each quarter. A pro
rata Management Fee will be charged to investors by Orion on any amounts accepted by Sirius,
the general partner to the Fund, during a quarter. No part of the Management Fee will be refunded
in the event that an investor withdraws, whether voluntarily or involuntarily, all or any of the value
in such investor’s capital account during any quarter.

Artemis FP collects quarterly management fees in arrears. It may also charge performance fees,
subject to negotiation with each client.

Our standard fee schedule is as follow:

       $2m - $25m              80 - 100 BP

       $25m - $100m            50 - 75 BP

       $100 - ….               40 - 50 BP

Fees may be adjusted based on the composition of assets managed and the complexity of the
accounts.

Form ADV - Part 2A- Artemis Wealth Advisors, LLC (SEC No. 801-71019)

Item 7: Types of Clients

Artemis provides investment advisory services to managed accounts on behalf of individuals, high
net worth individuals, ultra-high-net worth families, family offices, pooled investment vehicles
and foundations in accordance with the investment guidelines and restrictions that are developed
in consultation with the client or in accordance with a particular mandate selected by the client at
the outset of Artemis’ relationship with the client. Artemis also provides advisory services to
additional U.S. tax exempt institutions such as endowments.

We do not require an account minimum in order to utilize our services. All our clients attest to
meeting the standard of at least being a Qualified Client, as defined under SEC Rule 205-3 under
the Investment Advisers Act of 1940, as amended (the “Advisers Act”).

Orion manages the Fund only.

In no event should this Brochure be relied upon in determining to invest with the Firm. It is not
an offer of, or agreement to provide, advisory services directly to any recipient. Rather, this
Brochure is designed solely to provide information about the Firm for the purpose of compliance
with certain obligations under the Advisers Act and, as such, responds to relevant regulatory
requirements under the Advisers Act. To the extent that there is any conflict between discussions

Form ADV - Part 2A- Artemis Wealth Advisors, LLC (SEC No. 801-71019)

herein and similar or related discussions in any Advisory Agreement, the Advisory Agreement
shall govern and control.