Blockhouse Capital Management LP

Item 5: Fees and Compensation

Management Fee

Blockhouse is paid an investment management fee ranging from 1.25% to 1.75% per annum
of the net assets of the Funds. Investment management fees are charged each quarter in
advance based on the Fund’s net asset value on the first day of the quarter. If a new Investor
account is established during a quarter or an Investor makes an addition to its account during a
quarter, the investment management fee will be prorated. Blockhouse Capital, in its sole
discretion, may waive or modify the Management Fee for any Investor.

Other Types of Fees or Expenses

In addition to the Management Fee and the Incentive Allocation, our Investors will pay
expenses including, but not limited to: legal, compliance (including consultants’ fees); risk
management expenses (including software licensing and consultants’ fees); administrator,
audit and accounting expenses (including third party accounting services); organizational
expenses; investment expenses such as commissions, research fees and expenses (including
Bloomberg and similar subscriptions and data services and research-related travel); interest
on margin accounts and other indebtedness; borrowing charges on securities sold short;
custodial fees; bank service fees; Firm-related insurance costs (including D&O and E&O
insurance for the Firm, the General Partner, and the members of the Master Fund’s
independent “Review Committee”); Review Committee members’ fees and expenses;
expenses of regulatory compliance (including compliance with the Alternative Investment
Fund Managers Directive); filings and reporting (including but not limited to Section 13 and
Section 16 filings); and any other expenses related to the purchase, sale or transmittal of
assets. The Investors will also indirectly bear their pro rata share of the Master Fund’s
expenses.

Neither the Firm nor its employees accept compensation, including sales charges or service
fees, from any person for the sale of securities or other investment products.

Blockhouse Capital Management LP                                             Form ADV Part 2A

Item 7: Types of Clients

Our clients will be the Funds. Any initial and additional investment minimums are disclosed in
the offering memorandum for the relevant Fund.