Avego Management LLC

Item 5.    Fees and Compensation

The Adviser’s fees and compensation are described in each client’s Governing Documents. All of the
Firm’s clients are expected to be “qualified purchasers” (as defined in Section 2(a)(51) of the Investment
Company Act of 1940, as amended).

Fees Generally

Management Fees and Performance-Based Compensation. The management fee (the “Management
Fee”) and performance-based compensation rates for the Funds are disclosed in each Fund’s Governing
Documents.

The Funds will pay the Adviser a Management Fee quarterly in advance based on Fund investor capital
commitments with respect to one of the closed end funds, or the value of Fund investor capital accounts
with respect to open end funds. Management Fees are prorated in the case of a partial calendar quarter.
The Adviser may elect to reduce, otherwise modify or waive the Management Fee with respect to any of
its affiliates, Fund investor, and the Adviser’s employees, in accordance with the Fund’s governing
documents.

An affiliate of the Adviser that serves as the general partner of a Fund (the “General Partner”) will be paid
performance-based compensation by the Funds, which is compensation that is based on a share of capital
gains on or capital appreciation of the assets of the Funds.

Expenses Generally

Investors in the Funds should carefully review the expense provisions in their applicable Fund Governing
Documents for a complete description of such Fund’s expense practices.

Each Fund is responsible for expenses incurred by it and related to its activities, including (as more fully
defined in the Governing Documents) but not limited to: the Management Fee; Fund legal, compliance
(including consultants’ fees), placement fees, risk management expenses (including software licensing

and consultants’ fees), administrator (including, but not limited to, middle and back office services and
software necessary for trade capture and portfolio management), audit and tax preparation (including third-
party tax preparation), and accounting expenses (including third party accounting services and accounting
software); all costs and expenses of any custodians, attorneys, accountants, auditors, tax advisors,
brokers, agents, research related data providers, valuation experts or other advisors or professionals
relating to the affairs of the Fund; organizational expenses; execution and order management system fees
and expenses; investment expenses such as omissions, research-related fees and expenses (including
Bloomberg and similar subscriptions and data services, expenses incurred in connection with multimedia,
analytical, database, news or other third-party research services as well as related terminals for the
delivery of such services, artificial intelligence tools used for research and research-related travel
(including meals and lodging)); interest on margin accounts and other indebtedness; borrowing charges
on securities sold short; custodial fees; bank service fees; all costs and expenses of any litigation,
threatened litigation, indemnification or other extraordinary expenses or liabilities relating to the affairs of
the Fund; Fund-related insurance costs (D&O and E&O insurance); independent master fund governance
committee members’ fees and expenses; expenses of regulatory compliance (including compliance with
AIFMD and AEOI), filings and reporting (including but not limited to Section 13, Section 16 and Form PF
filings); all costs and expenses incurred in connection with complying with Anti-Money Laundering laws,
“know your customer” laws and Foreign Account Tax Compliance Act (“FATCA”), including the fees and
expenses of third-party service providers related to such compliance; costs and expenses incurred in
connection with complying with provisions in Governing Documents and/or side letter agreements or
similar agreements; unreimbursed costs and expenses incurred in connection with any transfer or
proposed transfer or any default by a limited partner; expenses incurred in connection with the managed
distribution of marketable securities; costs and expenses of any lenders and other financing sources, and
principal and interest on, and fees and expenses arising out of, all borrowings made by the Fund, including,
without limitation, the arranging, negotiating, structuring, entering into and amending thereof; directors’
fees (including the fees and expenses of independent master fund governance committee members
directly related to their service as directors of the offshore fund); pricing service fees; all costs and
expenses of winding-up and dissolving the Fund and any alternative investment vehicles; all expenses
incurred in connection with any tax, audit, investigation, settlement, or review of the Fund; portfolio
valuation expenses (including data feeds and third-party valuation agents); and any other expenses related
to the purchase, sale or transmittal of Fund assets.

Allocation of Expenses. Each Fund bears expenses as set forth in its respective Governing Documents.
Common expenses may be incurred on behalf of the Funds. The Adviser would seek to allocate those
common expenses among the Funds in a manner that would be fair and reasonable over time and in
accordance with the relevant Governing Documents. As the allocation of expenses by the Adviser
represents a conflict of interest, the Adviser has adopted an expense allocation policy that is designed to
address this conflict. The Adviser may use various methods to allocate expenses among the Funds
depending on the circumstances (e.g., pro rata based on assets under management, relative participation
in the transaction related to the expense, general amount of trading activity etc.). The determination as to
the method or methods used may be based on relative use of the product or service, the nature or source
of the product or service, the relative benefits derived by each of the Funds from the product or service, or
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Item 7.     Types of Clients

The Adviser’s clients consist of the Funds. Investors in the Funds are generally high net worth individuals
and institutional investors that qualify as “accredited investors” (as defined in Rule 501 under the Securities
Act of 1933, as amended) and qualified purchasers. The minimum initial investment in the Funds will be
determined by the Adviser. The Adviser has waived such minimum and may, in its discretion, do so in the
future under certain circumstances.