Campbell Global LLC

(Item 5)

Common Types of Fees

Campbell does not charge uniform fees for advisory services provided to Clients. If an Investor Client
purchases an interest in a Timberland Investment, Campbell will often receive fees based on the
adjusted cost of the timberlands and/or other assets held by that Timberland Investment
(“Management Fees”). In certain cases, Campbell may also receive additional fees where Campbell
provides specified administrative services, including contract administration (easements, insurance,
land records, leases, licenses, rights of access, rights of way and title insurance), forecasting, fire
prevention planning, harvest planning, identification of non-strategic parcels for disposition,
administration and supervision of permitting, planning, GPS or GIS systems and mapping, risk
management, and supervision and/or oversight of contractors and subcontractors performing asset
maintenance, environmental remediation, field administration of timber sales (stumpage and log sale
contracts), field inspections, fertilization, forest operations, logging operations, maintenance, pest
suppression and control, planting, property surveillance, pruning, road construction, site preparation,
timber inventory, thinning, and/or similar services (“Asset Maintenance Fees”).

Campbell generally negotiates fees borne (directly or indirectly) by each Client and other Persons that
purchase interests in a Timberland Investment, and a Client may bear more or less than the fees set
forth in this Brochure, or more or less than similar Clients or Clients invested in similar strategies.
Subject to applicable law and regulation, Campbell considers “most favored nation” clauses in certain
limited circumstances which may allow an Investor Client, or another investor in a Timberland
Investment, to benefit from certain terms offered to one or more Clients or other investors under
certain circumstances.

In general, the specific manner in which any fees are charged to a Client by Campbell is established in
written agreements between Campbell and such Client relating to a Timberland Investment. Fees
generally vary according to account size and are typically based on acquisition cost plus adjustments
based on the Consumer Price Index for All Urban Consumers, published by the United States
Department of Labor - Bureau of Labor Statistics, or a similar index. In certain cases, Asset
Maintenance Fees may be limited to amounts that would be charged by third parties for the same
services at the then-current market rates in the jurisdictions where Timberland Investments are
located.

In general, Campbell does not charge acquisition and disposition fees but reserves the right to
negotiate these fees with Clients in advance where appropriate. Subject to applicable law and
regulation, fee amounts may vary as a result of negotiations, discussions, and/or factors such as the
particular circumstances of a Client, the size and scope of the overall Client relationship, Client
customization of investment guidelines, additional or differing levels of servicing, or as may be
otherwise agreed with specific Clients.

Common Types of Expenses

In certain cases where Campbell provides investment advisory and/or administrative services to a
Timberland Investment or monitors or oversees certain services provided by third-parties, Campbell
may charge specified fees and/or seek reimbursement of certain related administrative costs and
expenses. Subject to applicable law and regulation, it is common for each Client to bear their allocable
share of such items which include, without limitation:

    (i)     fees, costs, and expenses paid to accountants, administrators, advisors, agents, appraisers,
            attorneys, auditors, bankers, biologists, brokers, calculation agents, consultants,
            custodians, depositaries, engineers, environmental consultants, experts, independent
            contractors, independent fiduciaries, independent managers, insurers, professionals,
            researchers, shippers, software providers, surveyors, tax advisors, tax preparers,
            technicians, technology providers, transfer agents, trustees, underwriters, valuers,
            valuation advisers, and other professional advisers (including Affiliates of Campbell which
            provide such services) relating to actual or prospective investments, joint ventures, co-
            investments, syndicated investments and follow-on investments, including the appraisal,
            evaluation, review, due diligence, acquisition, holding, owning, protecting, maintaining,

         repairing, improving, financing, sale, disposition and distribution thereof, environmental,
         inventory and valuation expenses, and third-party fees;

(ii)     interest, fees, charges, and expenses related to or arising from any actual or potential
         borrowing, credit facilities, currency management, debt, guaranties, hedging activities,
         indebtedness, and/or loans related to actual or prospective Clients or investments;

(iii)    fees, costs, expenses, and premiums for any actual or potential insurance relating to any
         investment or related operations, any directors’ and officers’ liability, cybersecurity, errors
         and omissions liability, fidelity bonds, crime coverage, partnership liability, and other
         insurance (including costs related to any retention or deductibles, and broker costs,
         commissions and closing costs), and any consultants or other advisors utilized in the
         procurement, review, maintenance and analysis thereof;

(iv)     fees, costs, and expenses of external advisers related to legal, audit, custodial, tax,
         accounting, bookkeeping, interim, periodic and final reporting, including expenses
         associated with the preparation of financial statements, tax inquiries, tax returns, Schedule
...

(Item 7)

Campbell and its related Persons provide advisory services to a wide variety of Investor Clients, which
generally include public pension plans, corporate pension and profit-sharing plans, corporations,
insurance companies, funds of funds, high net worth individuals, Taft-Hartley plans, foundations,
endowments, municipalities, other pooled investment vehicles, trusts, sovereign funds, non-U.S.
entities such as UCITS (Undertakings for the Collective Investment in Transferable Securities) and
SICAVs (Société d’Investissement à Capital Variable), and other institutions. In certain instances,
Campbell may also provide investment advisory services with respect to the assets of its Affiliate’s
clients and will receive from such Affiliate a portion of the fee or other compensation paid by the end
client for such services. Under these circumstances, the client enters into an investment advisory
agreement with the Affiliate and, in turn, the Affiliate delegates authority to Campbell.

Campbell has established minimum account requirements for certain Client accounts, which vary
based on the investment vehicle, investment strategy, and asset class. Minimums are subject to waiver
in Campbell's discretion and are waived for Client accounts from time to time.

For certain types of Clients offered, managed or advised by Campbell, U.S. investors must generally
satisfy certain investor sophistication requirements, including that the investor qualifies as an
“accredited investor” under Rule 501(a) of Regulation D under the Securities Act of 1933, as amended,
a “qualified purchaser” within the meaning of section 2(a)(51) of the Investment Company Act of 1940,
as amended (the “1940 Act”). Campbell may also permit investments by certain employees that qualify
as “knowledgeable employees” within the meaning of Rule 3c-5 of the 1940 Act in lieu of satisfying the
client qualification requirements associated with being a “qualified purchaser”. For certain other types
of Clients, the account requirements are set out in such vehicle's prospectus or offering memorandum.

Campbell also provides advisory services to its TI Clients, each of which is also a Timberland Investment.

  Methods of Analysis, Investment Strategies and Risk of Loss