Caspian Capital LP

Item 5 - Fees and Compensation

A.    We generally receive compensation from each Client based on a percentage of value of the
      net assets we manage and, with the exception of the RIC Account, on performance
      achieved for the account of investors therein or the relevant Managed Account. Detailed
      information concerning our compensation and fees is contained in the private placement
      memorandum of each Caspian Fund and/or in the organizational documents of the Caspian
      Fund(s). Fees charged for the Managed Accounts are negotiated and are subject to the terms
      of the relevant Managed Account operational agreement. Performance and management
      fees are waived for Caspian employees invested in Caspian Funds. Co-Investment Vehicles
      may pay fees that vary from what is charged to other Clients.

B.    We generally deduct the asset-based fee from Caspian Funds’ accounts quarterly in
      advance. We generally deduct the performance-based compensation described above from
      Caspian Funds’ accounts at the end of each calendar year or at the time of investor
      withdrawals. We invoice our Managed Account clients for quarterly or monthly
      management fees and, if applicable, annual performance compensation.

C.    Each Client, subject to its governing documents, generally bears its own management fee;
      performance-based compensation; operational, investment, and trading expenses
      (including, as applicable, for investments whether or not completed); its organizational
      expenses; and its accounting and administrative expenses. Operational, investment, and
      trading expenses generally include brokerage commissions and spreads, custody charges
      and costs, bank service fees, interest expenses, risk management expenses, expenses related
      to the purchase, monitoring, sale, settlement and transmittal of assets, expenses related to
      reorganizations, restructurings, and workouts, expenses related to the facilitation and
      management of the order execution of securities such as Bloomberg terminals, portfolio
      management systems, and order management systems, fees of legal advisers and other
      consultants (including investment research services provided by consultants) relating to
      investments and prospective investments, research and market data expenses (including
      expenses related to information technology hardware, software, or other technology used
      to research investments, evaluate and manage risk, and facilitate valuations), and insurance
      premiums (including our professional liability insurance and cybersecurity insurance).
      Organizational expenses generally include the expenses of preparing organizational and
      offering documents as well as costs and fees related to any governmental, regulatory,
      licensing, filing or registration requirements (including fees and expenses incurred in
      connection with the preparation and filing of Form D, Blue Sky, Annex IV, Section 13
      filings, and other similar regulatory filings). Accounting and administrative expenses
      generally include the fees and expenses of third party administrators, independent auditors,
      tax expenses (including tax preparation and any expenses associated with FATCA/CRS
      compliance or under the BBA Audit Rules) imposed or added on, or payable by, the Client,
      fees and expenses incurred in connection with the reorganization, dissolution, winding up,
      or termination of the Caspian Funds, as well as other costs of maintaining records and
      preparing and distributing reports to investors, and expenses incurred in connection with
      negotiating and complying with provisions of any Side Letter. The Clients also bear
      extraordinary expenses, including any expenses relating to litigation, investigation, or other

     proceeding involving the Client or its investments or operations. If an expense item relates
     to more than one Client, we allocate it equitably among all such Clients, based on relative
     investment size, account size or other appropriate criteria. Please also see Item 12, which
     discusses our brokerage practices.

D.   Caspian Funds generally do not permit withdrawals except as of the end of each quarter
     (or for certain strategies, month-end dates). If there is a withdrawal during a quarter for
     which the management fees were pre-paid or if a Managed Account agreement is
     terminated during a quarter, we will refund a pro rata portion of any fees paid at the
     beginning of the quarter.

E.   Neither Caspian nor any of the Principals or employees receive any transaction-based
     compensation for the sale of securities or other investment products.

Item 7 - Types of Clients

       With the exception of the RIC Account which is an investment company, all of our Clients
       are private investment funds. Caspian Funds’ investors include a broad range of U.S. and
       non-U.S. institutions and high-net worth individuals. We require investors in the Caspian
       Funds that are U.S. persons to be “accredited investors” and “qualified purchasers” (as
       defined in applicable federal securities laws and regulations). The Caspian Funds generally
       require a minimum investment of $5,000,000; however, Caspian maintains discretion to
       accept less than the minimum investment threshold. There are no formal minimum account
       sizes for Managed Accounts.