Campbell & Company Investment Adviser LLC

Item 5: Fees and Compensation
FEE SCHEDULE

Each Client executes an advisory agreement with Campbell that specifies Campbell’s fees and the
calculation of Campbell’s compensation. RIC and Sponsored Fund offering documents and constitutive
documents contain detailed descriptions of the fees charged by Campbell, as well as other expenses
Clients may incur, such as administration, audit, and legal fees, as well as expenses related to trading or
the purchase, sale, transfer, or custody of investments. See also Additional Fees and Expenses.

Generally, Campbell is paid in various combinations of a fixed management fee and performance-based
fees or allocations. In certain circumstances, fees are negotiable. Campbell typically charges its Clients
an annual fixed management fee for its advisory services ranging from 0% to 2% of net assets under
management, whether or not the Client’s account is profitable, which is paid at least monthly in arrears.
Clients may also pay a performance fee or allocation, ranging from 0% to 20%, payable solely out of the
appreciation in Sponsored Fund net asset value and Managed Account nominal account value.
Performance fees may be paid quarterly or annually in arrears. When, for example, Campbell receives a
quarterly performance fee, a particular Client may pay performance-based compensation even while
incurring an overall loss for a calendar year. Management or performance fees may be paid at the time of
the termination of a Client’s advisory agreement or at the time of a Sponsored Fund investor’s withdrawal
or redemption, in accordance with the terms of the advisory agreement or the Sponsored Fund offering
and constitutive documents. Net assets typically include all cash and cash equivalents, accrued interest,
and the market value of all open positions maintained in the account, less all liabilities of the account
including brokerage commissions on open trades. Net assets are determined in accordance with generally
accepted accounting principles under the accrual basis of accounting. For the purposes of calculating
Managed Account fees, nominal account value means net assets under management plus any notional
equity. In other words, if a Managed Account does not have any notional equity, then the nominal account
value is equal to the net assets under management.

Campbell reserves the right, in its sole and absolute discretion, to enter into agreements with Clients or
Sponsored Fund investors to charge fees in excess of or less than those set forth above and the calculation
and/or accrual of management fees or performance fees may differ from those stated. Campbell may
waive or rebate all or any portion of management or performance fees. Certain Clients or investors in
Sponsored Funds are not charged any management or performance fees or may have different fee
structures because of their affiliation or relationship with Campbell or because of their specific investment
strategy and risk profile. While we believe that these fees are competitive with those charged by other
investment advisers for comparable services, these services may be available from other sources for lower
fees.

ADDITIONAL FEES AND EXPENSES

Investment advisory fees payable to Campbell do not include all the fees Clients pay when we trade for
their account. As further detailed in the offering document for each Sponsored Fund or RIC, Clients may
also pay fees to third parties including, but not limited to, brokerage commissions and fees, transaction
fees, wire transfer fees, and electronic processing fees. See also Brokerage Practices. Depending on the
account set up, Clients may also pay custodial or cash management fees and administrative expenses,
Campbell does not receive, directly or indirectly, any of these fees.

As further detailed in the offering document for each Sponsored Fund or RIC, funds or accounts may
reimburse Campbell a proportionate share of data (e.g., licensed exchange and vendor market data fees),

research technology (e.g., data engineering platform), trading (e.g., algorithmic and execution management
systems, connectivity and liquidity aggregation), operations (e.g., trade allocation), and technology-related
costs (e.g., secure cloud-based data warehousing and network hosting) incurred by Campbell & Company
and attributable to the Fund as reasonably determined by Campbell & Company, and calculated generally
on an asset weighted basis.

The offering document for each Sponsored Fund or RIC contains detailed information about the specific
fees paid to third parties and/or reimbursed to Campbell.

Item 7: Types of Clients
As described in the Advisory Business section, Campbell currently offers and/or provides its services to
Sponsored Funds and Managed Accounts.

The minimum investment Campbell requires varies across Sponsored Fund and Managed Account Clients.
Generally, Campbell requires a minimum investment of $20 million for Managed Account Clients; however,
we reserve the right, in our sole and absolute discretion, to adjust the minimum required to open an account.
Each Client is required to sign an investment advisory agreement and to provide sufficient legal
representations concerning their eligibility and ability to evaluate the risks of the investments. Typically,
either party upon 24 hours’ notice may terminate an investment advisory agreement, although such
termination must provide for a reasonable period of time for the liquidation of open positions. Upon receipt
by Campbell of a notice of termination, positions then held in a Client’s account are closed or offset in an
orderly manner at the then market prices, and all accrued but unpaid fees become immediately due and
payable.

Each Sponsored Fund Client maintains its own minimum investment and investor eligibility requirements,
as well as investor subscription and redemption forms (that include applicable legal representations)
required for the purchase or sale of Sponsored Fund interests. These requirements are set forth in the
applicable offering documents and subscription materials.

In certain circumstances, Campbell may enter into separate agreements or “side letters” with Sponsored
Fund investors to waive certain terms or modify the application of any provision of a Sponsored Fund
agreement, including, but not limited to, those relating to liquidity, investment capacity, fees, and
transparency. Campbell may provide Sponsored Fund investors different levels of disclosure with respect
to specific security positions, risk information, and/or portfolio characteristics of Sponsored Funds.
Accordingly, not all Sponsored Fund investors will have the same degree of access to the type and/or
frequency of individual position listings in connection with Sponsored Funds in which they invest and
transparency of portfolio characteristics may differ based on “side letters” with certain Sponsored Fund
investors.