Boldhaven Management LLP

Item 5. Fees and Compensation
Compensation received by Boldhaven is generally comprised of fees based on a percentage of assets
under management and performance-based amounts. In consideration for the services it provides to
the Fund, the Fund pays a management fee, charged monthly in arrears, to Boldhaven at a rate per
annum up to 1.50%. This is depending on the class offered and of the aggregate net asset value of
the Fund, although reductions and other terms may be negotiated with investors on a case-by-case
basis and pursuant to side arrangements/letters. Boldhaven directly deducts fees from the client
account.

In connection with the advisory services provided to the SMAs, Boldhaven will receive an
Investment Management Fee that is negotiated on an account-by-account basis, which is typically
based on a percentage of the account’s assets under management. The management fees are paid
monthly, in arrears and are deducted directly from the SMA’s account.

In addition to the fees described above, Boldhaven Fund Limited and Boldhaven Fund LP (the
“Feeder Funds”) will bear their own expenses and pro rata share of the Fund’s expenses and any
trading vehicle’s expenses. This includes expenses related to investment research; third-party
investment sourcing fees; due diligence expenses including consulting and appraisal fees;
brokerage, prime brokerage and futures commission merchant fees, commissions and expenses;
expenses relating to short sales; clearing and settlement charges; custodial fees and expenses; bank
service fees; interest expenses and fees related to financings or refinancings; fees and expenses of
proxy research and voting services; and fees and expenses of third-party professionals, including
consultants, investment bankers, attorneys and accountants; and certain organizational and
operational expenses. This is a general overview of expenses. Please refer to the applicable offering
documents for further fee and expense disclosures.

As set forth in the relevant SMA client Investment Management Agreement, each SMA client bear
all expenses relating to its SMA, which generally include (without limitation): trading expenses,
brokerage commissions and other transaction charges, fees and expenses incurred in the borrowing
and lending of securities, interest, margin expense and other financing charges, custodial fees, bank
service fees, transfer taxes, withholding taxes, and other fees and expenses directly related to the
purchase, sale or other disposition of account assets, and any other reasonable out-of-pocket charges
or expenses. Please refer to Item 12 – Brokerage Practices for additional information.

Item 7. Types of Clients
Boldhaven currently provides investment advice to the Fund and SMAs. The Fund generally
requires a minimum subscription of $5,000,000. The General Partner, in its sole discretion, could
accept capital contributions of lesser amounts or establish different minimums or reject any capital
contribution, in whole or in part, for any reason or no reason.

SMA clients are subject to different terms and fees from the Fund. Such fee arrangements and
terms are individually negotiated. SMA relationships are generally subject to significant account
minimums, although Boldhaven can waive this in their sole discretion.

Boldhaven also may provide investment advisory services to clients such as fund of funds, family
offices, or high net worth individuals in the future.