Blue Sage Services LP

“Fees and Compensation.”

Item 14.B.: Compensation Paid to Third Parties

From time to time, Blue Sage may enter additional solicitation arrangements pursuant to which it
compensates third parties for referrals that result in a potential investor becoming a limited partner in a Fund.
Any fees payable to any such placement agents will be borne by Blue Sage indirectly through an offset
against the Management Fee, although related expenses incurred pursuant to the relevant placement agent or
similar agreement, including but not limited to placement agent travel, meal and entertainment expenses,
typically are borne by the relevant Fund(s).

Item 7: Types of Clients

Blue Sage provides investment advice to the Funds. The Funds may include investment partnerships or other
investment entities formed under domestic or foreign laws and operated as exempt investment pools under
the Investment Company Act of 1940, as amended (the “Company Act”). The investors participating in the
Funds may include individuals, banks or thrift institutions, other investment entities, university endowments,
sovereign wealth funds, family offices, pension and profit-sharing plans, trusts, estates or charitable
organizations or other corporations or business entities and may include, directly or indirectly, principals or
other employees of Blue Sage and members of their families or other service providers retained by Blue
Sage.

The Funds may include alternative investment vehicles established from time to time to permit one or more
investors to participate in one or more particular investment opportunities in a manner desirable for tax,
regulatory or other reasons. Alternative investment vehicle sponsors generally have limited discretion to
invest the assets of these vehicles independent of limitations or other procedures set forth in the
organizational documents of such vehicles and the related Fund.

The Funds generally have a minimum investment amount of $2,000,000 for third-party investors. Such
minimum investment amount for each of the Funds may be waived by Blue Sage in its sole discretion. In
most circumstances, investors in the Funds must meet certain suitability and net worth qualifications prior
to making an investment in a Fund. Generally, investors must be (i) “accredited investors,” as defined under
Regulation D of the Securities Act of 1933, as amended (the “Securities Act”), (ii) “qualified clients,” as
defined under the Advisers Act, and (iii) either “qualified purchasers” or “knowledgeable employees,” as
defined under the Company Act. Blue Sage may waive such qualification requirements in certain
circumstances.