Change Global Investment LLC

Item 5 – Fees and Compensation

A.     Fee Schedule
The fees and compensation payable to CHANGE Global in its capacity as a general partner or
investment adviser to each Fund are listed below. However, CHANGE Global may, in its
discretion, enter into a side-letter agreement with Investors that has the effect of establishing
rights under, or altering or supplementing the terms of, the Fund’s Constituent Documents as
it applies to such Investors.

Management Fee
CHANGE Global Developing Markets Select, LP
For clients of CHANGE Global Developing Markets Select, LP, CHANGE Global typically receives
a quarterly asset-based management fee calculated as a percentage of each Investor’s capital
account, payable quarterly in advance. The management fee is generally 0.3375% (a 1.35%
annual rate) of the Opening Balance of the Capital Account of each Limited Partner at the
beginning of the quarter.
The Management Fee will be appropriately prorated to re�lect any capital withdrawals and
contributions that occur during a quarter. The General Partner may, in its discretion, reduce,
waive or calculate differently the Management Fee with respect to any Limited Partner. Early
investor negotiated fees may be applied.

CHANGE Global Developing Markets Select Offshore, LTD
For clients of CHANGE Global Developing Markets Select Offshore, LTD, CHANGE Global
typically receives a quarterly asset-based management fee calculated as a percentage of the
net asset value of each participating share, payable quarterly in advance. The management fee
is generally 0.3375% (a 1.35% annual rate) of the net asset value of outstanding participating
shares at the beginning of the quarter.
The Management Fee will be appropriately prorated to re�lect any capital withdrawals and
contributions that occur during a quarter. The Investment Manager may, in its discretion,
reduce, waive or calculate differently the Management Fee with respect to any Shareholder.
The Feeder Fund will not pay or bear any portion of the management fees paid to the
Investment Manager at the master fund level.

CHANGE Global Developing Markets, LP
For clients of CHANGE Global Developing Markets, LP, CHANGE Global typically receives a
quarterly management fee paid in advance. The management fee is generally 0.2375% (a

                                                                             Part 2A of Form ADV
                                                          CHANGE Global Investment, LLC Brochure
0.95% annual rate) of the Opening Balance of the Capital Account of each Limited Partner at
the beginning of the quarter.
The Management Fee will be appropriately prorated to re�lect any capital withdrawals and
contributions that occur during a quarter. The General Partner may, in its discretion, reduce,
waive or calculate differently the Management Fee with respect to any Limited Partner. Early
investor negotiated fees may be applied.

Separately Managed Accounts
Separately Managed Accounts are typically charged a quarterly asset-based management fee
calculated as a percentage of each Investor’s capital account, payable quarterly in advance. The
management fee is generally 0.25% (a 1.0% annual rate). This fee may be negotiable.

B.     Payment of Fees
CHANGE Global Developing Markets Select, LP
Management fees and third-party fees (discussed in Section C, Other Fees and Expenses) are
deducted from the CHANGE Global Developing Markets Select, LP assets. Management fees,
which are paid in advance, are withdrawn at the beginning of the quarter.

CHANGE Global Developing Markets Select Offshore, LTD
Management fees and third-party fees (discussed in Section C, Other Fees and Expenses) are
deducted from the CHANGE Global Developing Markets Select Offshore, LTD assets.
Management fees, which are paid in advance, are withdrawn at the beginning of the quarter.

CHANGE Global Developing Markets, LP
Management fees and third-party fees (discussed Section C, Other Fees and Expenses) are
deducted from the CHANGE Global Developing Markets, LP assets. Management fees, which
are paid in advance, are withdrawn at the beginning of the quarter.

Separately Managed Accounts
The fees for the separately managed accounts are not directly withdrawn from the accounts.
The fees are paid directly to CHANGE Global.

C.     Other Fees and Expenses
CHANGE Global Developing Markets Select, LP and Feeder Fund
The Partnership or the Feeder Fund, as the case may be, shall generally be responsible for the
following reasonable costs and expenses, which shall not be subject to the Expense Cap

                                                                             Part 2A of Form ADV
                                                          CHANGE Global Investment, LLC Brochure
de�ined below: (i) Management Fees; (ii) all general investment expenses (i.e., brokerage
commissions, clearing and settlement charges, data processing costs and expenses, bank
service fees, custodial expenses and other investment expenses); (iii) taxes and other
governmental charges payable by the Partnership; (iv) indemni�ication obligations; and, (v)
any extraordinary expenses.

The Partnership or the Feeder Fund, as the case may be, shall generally be responsible for the
following reasonable costs and expenses, which shall be subject to the Expense Cap de�ined
below: (a) all administrative, legal, accounting, auditing, record-keeping, tax form preparation,
compliance and consulting costs and expenses; (b) all fees, costs and expenses related to
middle of�ice operations which may include daily reconciliation of cash, cost, positions and
valuations, dividends and interest accruals, trade break identi�ication and resolution and
corporation action management; (c) fees, costs and expenses of third-party service providers
that provide such services; (d) costs and expenses associated with preparing investor
communications, printing and mailing costs; (e) insurance costs and expenses; (f) all expenses
...

Item 7 – Types of Clients

CHANGE Global provides investment advice and management to Pooled Investment Vehicles
and other businesses.

CHANGE Global intends to restrict the number of Investors in the Funds and will offer
interests only through non-public transactions in order to maintain each Fund’s exclusion
from “investment company” status under the Investment Company Act of 1940, as amended
(the “Investment Company Act”). Each Investor generally must be an “accredited investor” (as
de�ined in Rule 501 of Regulation D under the Securities Act of 1933), subject to waiver by
CHANGE Global.

CHANGE Global Developing Markets Select, LP
The minimum initial investment in the Partnership is $10,000,000, and the minimum
additional investment is $1,000,000, subject to a waiver at the discretion of CHANGE Global.

CHANGE Global Developing Markets Select Offshore, LTD
The minimum initial investment in the Feeder Fund from a new shareholder is $10,000,000,
and the minimum additional investment from an existing shareholder is $1,000,000, subject to
a waiver at the discretion of CHANGE Global (however the minimum initial subscription
cannot be less than $100,000 or such greater amount as prescribed by law).

CHANGE Global Developing Markets, LP
The minimum initial investment in the Partnership is $10,000,000, and the minimum
additional investment is $1,000,000, subject to a waiver at the discretion of CHANGE Global.

                                                                             Part 2A of Form ADV
                                                          CHANGE Global Investment, LLC Brochure