Blueheel

Item 5 – Fees and Compensation

A.      Fee Schedule: ASSET MANAGEMENT

Clients agreed upon fee will be detailed in the Client Services Agreement signed by both Blueheel and
Client.

During the Initial Investment Period (which is defined as 10-years from the effective date of the signed
Client Services Agreement), Blueheel will receive an annual management fee which is paid monthly in
arrears equal to 1/4th of 1% (.25%) multiplied by the greater of assets under management or the
commitment amount.

After the Initial Investment Period, management fees payable to Blueheel by Client will be negotiable as
agreed upon by Client and Blueheel according to the signed Client Services Agreement.

Incentive Allocation Fees:
Blueheel will receive an annual incentive allocation fee from the Client during the Initial Investment Period
paid at the end of each calendar year equal to ten percent (10%) realized and unrealized gains on assets, net
of all losses (realized and unrealized) and all expenses associated with the discretionary assets under
management, minus the portion of the Management Fee attributable to discretionary assets under
management.

B.     Payment of Fees
Advisory Fees are deducted directly from the Client’s designated custodial account.

Sub-Advisor Fees are remitted to Blueheel or directly to Client from the third-party investment advisor.

Blueheel, in its sole discretion, may charge a lesser investment advisory fee based upon certain criteria
(e.g., historical relationship, type of assets, anticipated future additional assets, dollar amounts of assets to
be managed, related accounts, account composition, negotiations with Clients, etc.).

C.      Additional Fees

In the event the Client Services Agreement is terminated without cause by Client, Client shall pay to
Blueheel a fee equal to seventy-five percent (75%) multiplied by the number of months that remain on the
Term (Initial Investment Period) multiplied by the most recent monthly payment of the Management fee
paid to Blueheel.

Custodians may charge brokerage commissions, transaction fees, and other related costs on the purchases
or sales of mutual funds, equities, bonds, options, margin interest, and exchange-traded funds. Mutual
funds, money market funds, and exchange-traded funds may also charge internal management fees, which
are disclosed in the fund’s prospectus. Blueheel does not directly receive any compensation from these fees.
All of these fees are in addition to the management fee you pay to Blueheel. For more details on the
brokerage practices, see Item 12 of this brochure.

D.     Prepayment of Fees
Blueheel does not expect Clients to prepay fees.

E.     External Compensation for the Sale of Securities
Blueheel does not receive any external compensation from the sale of securities.

Item 7 – Types of Clients & Account Minimums

Blueheel’s Clients are private funds/pooled investment vehicles and corporations. Client relationships vary
in scope and length of service. Private Fund investment minimums are according to the subscription
documents of the particular fund and are stated at $500,000.

Clients are not required to have a certain amount of investment experience or sophistication.