Autilus Partners LLC

ITEM 5.      FEES AND COMPENSATION

A detailed description of the fees and expenses applicable to the Clients is set forth in the Managed Account
or Fund investment management agreement or governing documents. Autilus receives management fees
and incentive or performance fees or allocations in connection with advisory services provided. Such fees,
allocations and expenses are summarized below:

Asset management fees are negotiated on a Client-by-Client basis and are generally levied on the value of
the total assets in a Client’s account.

On an individually negotiated basis, Autilus also charges Clients an incentive or performance fee or
allocation, entitling Autilus to additional compensation based generally on a percentage of profits or gains

at the end of the relevant fiscal period, or upon realization, and in certain cases subject to, or only in excess
of, specified performance thresholds.

Managed Account clients that invest in private funds sponsored by Autilus pay fees and compensation
assessed by those funds, and the value of a Managed Account client’s investment in an Autilus-sponsored
private fund generally is included in the advisory fee calculation for that Client, which results in multiple
layers of fees. In some cases, Autilus, in its sole discretion, reserves the right to reduce or waive either the
Managed Account advisory fees or fees paid as an investor in an Autilus-sponsored private fund on an
individually negotiated basis.

Autilus’ fees are exclusive of investment-related expenses, including brokerage commissions, transaction
fees, and other related costs and expenses that may be incurred, including certain charges imposed by
custodians, brokers, and other third parties. Please see Item 12 – Brokerage Practices for more information.

Private funds, including Autilus-sponsored funds and funds managed by third parties, charge management
fees and performance fees or incentive allocations which are disclosed in the applicable fund’s prospectus
or offering memorandum. Such charges, fees and commissions are exclusive of and in addition to Autilus’
fees.

Autilus maintains the right to waive all or a portion of its management fees and/or performance fees with
respect to any Client or investor therein. Related persons of Autilus receive compensation derived from,
and in certain cases including a portion of, carried interest or other compensation received by Autilus or its
affiliates.

Generally, Autilus seeks to allocate expenses in accordance with the applicable investment management
agreement, disclosure document, governing document, or similar agreement with a Client. Certain expenses
are allocable to a single Client or to multiple Clients. Fee and expense terms will vary among Clients.
Expenses incurred in establishing and managing Autilus-sponsored private funds will be borne by the Fund,
in accordance with its limited partnership agreement or other similar agreement, and disclosure and
subscription documentation. Funds are typically subject to, and charged, expenses related to the
organization and operation of the Fund. To the extent any expense to be allocated to a Client is paid by
Autilus or its affiliates, such expenses can be reimbursed or offset against other monies owed to the Client.

Additional Fees and Expenses

In addition to those fees described above, Clients may pay additional fees and expenses such as the
following non-exhaustive list of items:

 •   costs related to setting up Autilus-sponsored         •   investor meeting expenses, including travel for
     funds and related entities                                general partners
 •   expenses for research, due diligence,                 •   financing-related costs, including interest and
     monitoring, and executing investments,                    repayment obligations
     including sourcing, data, travel, and broken-         •   costs related to sourcing, managing, and
     deal costs                                                disposing of investments (even those not
 •   fees for third-party consultants assisting with           completed)
     advisory or investment services                       •   marketing and advertising expenses, including
 •   IT and software services for portfolio                    non-U.S. compliance and travel
     compliance, and data management                       •   costs of preparing tax returns, elections,
 •   professional fees for legal, accounting, audit,           and similar filings
     tax, and compliance services (including in-

     house staff if performing work otherwise                 •   expenses for creating or maintaining
     outsourced)                                                  investment vehicles or conduits (even if
 •   fees for external experts advising on fund                   unused)
     operations or investments                                •   costs related to feeder or intermediate funds
 •   banking, brokerage, finder, and transaction-                 and alternative vehicles (even if unused)
     related fees and commissions                             •   taxes or governmental charges and related
 •   taxes, fees, and costs related to the acquisition,           audit or investigation expenses
     management, or disposal of investments,                  •   expenses for obtaining consents or amending
     including hedging and unconsummated deals                    fund agreements
 •   insurance      premiums,        indemnifications,        •   costs related to limited partner advisory
     litigation costs, and other extraordinary                    committees, including insurance and travel
     expenses                                                 •   other fund-related expenses not considered
 •   costs for financial reporting, audits, and                   Autilus’ typical operating costs.
     regulatory filings
...

ITEM 7.     TYPES OF CLIENTS

Autilus provides investment advisory services to Managed Accounts and Funds. The underlying investors
in these Managed Accounts and Funds are trusts, insurance companies, registered investment advisers,
sovereign wealth funds, corporations and business entities and other related entities. The underlying
investors in these Funds may also include ultra-high-net-worth individuals.

Generally, Autilus requires a minimum dollar value of $100 million to establish a Client relationship.
Autilus can, at any time, waive that minimum in its sole discretion and accept a lesser amount. With
exceptions where permitted by applicable law, Autilus requires that the underlying investors in Managed
Accounts and Funds be “qualified purchasers” as that term is defined in Section 2(a)(51) of the Investment
Company Act.