Astaris Capital Management LLP

Item 5. Fees and Compensation
Astaris charges each client a management fee (“asset based amount”). For external
investors in the Astaris Special Situations Funds, the asset based amount is between
1.0-1.5% based on Net Asset Value (“NAV”)(before deduction of the period’s asset
based amount or any accrued performance allocation) of each share class within each
Fund and is deducted directly from the client account on a monthly basis at the
beginning of the month it is being charged for. The SMA client is managed in accordance
with the same investment strategy and process as the Astaris Special Situations Fund.
The management fee applicable to the SMA is subject to a separate agreement and may
differ from the fees charged to investors in the Fund.

For external investors in the Astaris Capital Partners Funds, the asset based amount is
1.0-1.5% based on the NAV (before deduction of the period’s asset based amount or any
accrued performance allocation) at the beginning of the reporting period’s quarter and
is deducted on a quarterly basis.

External investors are any investors who are not eligible for “management shares” as
defined in the relevant Fund offering document.

For the non-discretionary Fund, the management fee is generally 1.5% and is paid at the
end of the quarter for which it is being charged. Astaris in its sole discretion may offer
reduced management fees subject to individual client agreements.

Astaris also charges a performance fee (“performance allocation”) which is further
described in Item 6.

Astaris does not collect any other fees in advance.

In addition to the fees described above, the Funds will pay all expenses related to its
own operations, including, but not limited to: (i) investment-related expenses, whether
relating to investments that are consummated or unconsummated (e.g., brokerage
commissions, due diligence costs, deal fees and break-up fees; (ii) brokers’
commissions (if any), borrowing charges on securities sold short and any issue or
transfer taxes chargeable in connection with any investment transactions; (iii) interest
on borrowings, including borrowings from the prime broker; (iv) any taxes and any
regulatory or corporate fees payable to governments or agencies; (v) any litigation and
indemnification expenses and extraordinary expenses not incurred in the ordinary
course of business; (vi) the charges and expenses of and fees paid to legal advisers,
accountants, administrators, auditors and external advisor costs linked to a specific
investment or potential investment; (vii) communication expenses with respect to
investor services and all expenses of meetings of the directors of the general partner
and limited partners and of preparing and distributing financial and other reports, proxy
forms, prospectuses and similar documents; (viii) the cost of insurance for the benefit

of the general partner directors; (ix) the cost of preparing and providing information to
limited partners for tax reporting purposes; (x) where approved by the general partner
directors, expenses incurred by the Firm in soliciting capital commitments; (xi) the
costs of reporting information to regulators, tax authorities or other governmental
agencies; (xii) fees paid to the directors of the general partner; and (xiii) all other
organizational and operating expenses.

This is a general overview of expenses. Please refer to the applicable offering
documents for a complete list fee and expense disclosures.

Item 7. Types of Clients
Astaris’ current clients are limited to the Private Funds and the SMA described in Item 4.
The Astaris Capital Partners Fund has a minimum investment size of $5,000,000 and the
Astaris Special Situations Fund has a minimum investment size of $1,000,000. The
Funds’ general partners reserve the right to accept a smaller subscription amount in
their discretion.