Ash Park Capital LLP

ITEM 5: FEES AND COMPENSATION

A.      Advisory Fees and Compensation
Management Fees
All U.S. clients of Ash Park Capital are “qualified purchasers” as defined in Section 2(a)(51) of the Investment
Company Act of 1940, as amended. Consequently, Ash Park Capital has not included specific fee information in
this brochure relating to its clients. An investor in an Ash Park Fund should review the governing documents of
such pooled investment vehicle in conjunction with this brochure for more complete information on the fees and
compensation payable.

Fees for separately managed accounts are subject to negotiation.

B.      Payment of Fees

Ash Park Capital’s fees for its investment advisory services are generally payable monthly or quarterly in arrears.
Ash Park Capital does not allow clients to elect that Ash Park Capital deduct its fee directly from their account.
Upon termination of Ash Park Capital’s investment advisory services with respect to a client account, any earned,
unpaid fees will be immediately due and payable by the applicable client.

Investment management fees charged to an Ash Park Fund are typically deducted directly from the assets of such
Fund. Please refer to the governing documents of the applicable Ash Park Fund for more complete information on
the timing of advisory fee payments by such Ash Park Fund.

Discretionary investment management fees paid by separately managed account clients, are typically invoiced to
the client quarterly in arrears or as agreed with the client.

C.      Other Fees and Expenses

In addition to paying investment management fees, clients of Ash Park Capital will also be responsible for all
costs and expenses incurred in connection with the investments in their accounts such as custodial charges,
brokerage fees, commissions and related costs; interest expenses; taxes, duties and other governmental charges;
transfer and registration fees or similar expenses; costs associated with foreign exchange transactions; other
portfolio expenses; and costs, including research, expenses and fees associated with products or services that may
be necessary or incidental to such investments or accounts. In addition to the expenses set forth above, each Ash
Park Fund will also pay legal fees, research fees and expenses, fees charged by accountants and administrators for
their professional services and other expenses related to the fund as described in greater detail in the fund’s
offering documents.

The Ash Park Funds will reimburse Ash Park Capital for any expenses paid by Ash Park Capital that are expenses
to be properly borne by the Ash Park Funds.

To help ensure that the Ash Park Funds and therefore the investors in these funds are not charged undue costs,
Ash Park Capital’s policy is (i) to make adequate disclosure in the offering documents of the Ash Park Funds in
relation to the nature of fees and expenses charged to the funds and (ii) not to charge the Ash Park Funds any fees
and expenses that do not directly benefit the funds and their investors and to pay for such costs itself.

The section below entitled “Brokerage Practices” describes the factors that Ash Park considers in selecting or
recommending broker-dealers and determining the reasonableness of their compensation.

D.      Prepayment of Fees.

Ash Park Capital’s clients do not pay fees in advance.

E.      Additional Compensation and Conflicts of Interest.

Neither Ash Park Capital nor its supervised persons will receive any form of compensation as broker or agent for
the sale of securities or other investment products by any client account.

Types of Clients
As noted under Item 4 above, Ash Park Capital provides its investment management services to (i) Ash Park
Capital sponsored pooled investment funds that are offered to U.S. and non-U.S. investors (the “Ash Park
Funds”); (ii) certain other pooled investment vehicles offered solely outside the U.S. to non-U.S. investors and
(iii) separately managed accounts including ERISA accounts. Ash Park Capital’s clients and the investors in the
Ash Park Funds may include corporations, endowments, foundations, trusts, estates, charitable organizations,
pension and profit sharing plans and high net worth individuals.

All Ash Park Funds require that U.S. investors qualify as “accredited investors,” as defined in Rule 501(a) of
Regulation D under the Securities Act and as “qualified purchasers” as defined in Section 2(a)(51) of the
Investment Company Act of 1940, as amended, (the “Investment Company Act”). US non-taxable investors may
invest via a Cayman domiciled feeder into a Cayman domiciled pooled investment vehicle, with taxable US
investors investing in an onshore-US pooled investment feeder, the Ash Park Monsters of Tomorrow US Feeder
Fund, being Series B of the Ash Park Capital US Feeder Funds, LLC.

Minimum Investment Requirements
Ash Park Capital generally requires that a client invests a minimum of $100,000,000 to open a separately
managed account. However, Ash Park Capital may accept a lesser initial investment in its sole discretion.

The minimum investment in respect of each Ash Park Fund is set out in the Ash Park Fund’s Prospectus. The
board of directors of the Ash Park Fund may, in its discretion, waive the minimum investment amount.