Buoyant Capital Private Limited

Item 5 – Fees and Compensation

All fees will be discussed in detail below and further outlined within the Client Service Agreement.
BCPL seeks full transparency with respect to fees such that at the time a Client relationship is
formed both parties are fully aware of the responsibility of any and all potential and reasonably
foreseeable fees involved in the engagement.

A. Portfolio Management Services

     I.    Discretionary and Non-Discretionary Portfolio Management Services

           a. Management Fees and Performance-Based Fees: Management Fees and/or
              Performance-Based Fees may be incurred in connection with Discretionary
              Portfolio Management Services. With respect to these fees, BCPL offers three
              different fee structures (defined below). Management Fees, when applicable, will
              be charged as a fixed fee and will range from 50 bps to 250 bps per annum
              depending on the fee structure and terms selected in the Client Service Agreement.
              Performance-Based Fees, when applicable, will be charged as a variable rate of 750
              bps to 2500 bps of all portfolio returns in excess of predetermined hurdle rate that
              will range from 5% (five percent) to 15% (fifteen percent) per annum subject to the
              high-water mark principle depending on the fee structure and terms selected in the
              Client Service Agreement. BCPL’s three fee structure options for Management Fees
              and Performance-Based fees vary depending upon how the Client relationship with
              BCPL was established and are as follows:

                   i. Clients Signing Up for Portfolio Management Services Through
                      Distributors:

                          1. Management Fee Only – Clients that select this fee structure will
                             only be charged a fixed Management Fee of 2% (two percent) on the
                             average daily portfolio value for the management fee period or in
                             any other manner as defined in the Client Services Agreement.

        2. Management Fee and Performance-Based Fee – Clients that select
           this fee structure will be charged a fixed Management Fee of 1%
           (one percent) on the average daily portfolio value for the
           management fee period or in any other manner as defined in the PMS
           agreement, and a Performance-Based Fee equal to 15% (fifteen
           percent) of profit delivered in excess of the defined hurdle over the
           performance period.

        3. Performance-Based Fee Only – Clients that select this fee structure
           will be charged a Performance-Based Fee equal to 20% (twenty
           percent) of profit delivered in excess of the defined hurdle over the
           performance period.

ii. Clients Signing Up for Portfolio Management Services Through
    Advisors.

        1. Management Fee Only – Clients that select this fee structure will
           only be charged a fixed Management Fee of 1% (one percent) on the
           average daily portfolio value for the management fee period or in
           any other manner as defined in the Client Services Agreement.

        2. Management Fee and Performance-Based Fee – Clients that select
           this fee structure will be charged a fixed Management Fee of 0.50%
           (zero point-five percent) on the average daily portfolio value for the
           management fee period or in any other manner as defined in the PMS
           agreement, and a Performance-Based Fee equal to 15% (fifteen
           percent) of profit delivered in excess of the defined hurdle over the
           performance period.

        3. Performance-Based Fee Only – Clients that select this fee structure
           will be charged a Performance-Based Fee equal to 10% (ten percent)
           of profit delivered in excess of the defined hurdle over the
           performance period.

iii. Direct Clients.

        1. Management Fee Only – Clients that select this fee structure will
           only be charged a fixed Management Fee of 1.80% (one-point eight
           percent) on the average daily portfolio value for the management fee
           period or in any other manner as defined in the Client Services
           Agreement.

        2. Management Fee and Performance-Based Fee – Clients that select
           this fee structure will be charged a fixed Management Fee of 1%
           (one percent) on Average daily portfolio value for the management
           fee period or in any other manner as defined in the PMS agreement,

                         and a Performance-Based Fee equal to 13% (thirteen percent) of
                         profit delivered in excess of the defined hurdle over the performance
                         period.

                     3. Performance-Based Fee Only – Clients that select this fee structure
                        will be charged a Performance-Based Fee equal to 18% (eighteen
                        percent) of profit delivered in excess of the defined hurdle over the
                        performance period.

      b. Custody and Depository Fees: There may be fees incurred from maintaining
         custodial, depository, or dematerialized accounts. There may also be fees incurred
         in connection with custody arrangements in the form of additional transaction fees
         on the execution of trades involving stocks, bonds and units and other charges in
         connection with the operation and management of depository or custodial accounts,
         etc. These fees can be expected to range from 1- 3 bps.

      c. Transaction Fees: Transaction fees vary and depend on the type of account activity
         engaged in. There may be transaction fees incurred when trades are executed or
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Item 7 – Types of Clients

BCPL’s Clients will primarily include high net worth individuals, institutional clients, corporate
entities and other permissible classes of investors from India and the United States as well as
private funds, including, but not limited to, those funds that are exempt from being considered an
“investment company” under the Investment Company Act of 1940, as amended (the “Investment
Company Act”) pursuant to Section 3(c)(1) therein.

Where BCPL charges performance-based fees for Discretionary PMS Services to U.S. Clients,
BCPL will only advise Clients that are “qualified clients” as defined in the Advisers Act

BCPL only advises private fund Clients in the United States that are “accredited investors” as that
term is defined in Rule 501(a) of Regulation D under the U.S. Securities Act.