Chilton Investment Company Inc

Item 5 – Fees and Compensation

In consideration for the investment advisory services that Chilton provides to its Client
Accounts, Chilton is generally entitled to (i) an annual management fee, which is typically
payable quarterly and is applied (x) to a Private Fund investor’s capital account or shares
(as applicable), (y) to a Managed Account’s net asset value or (z) to the net asset value of
the portion of the UCITS Funds managed by Chilton and (ii) a performance allocation or fee,
as described in further detail in Item 6 below.

The annual management fee for most Private Funds is 1.25% or 1.5%. Certain Private
Funds have different fee schedules (or different schedules with respect to certain classes of
shares or interests), due to factors including the date of an investor’s initial investment in
the Private Fund, the types of securities in which the Private Fund may invest and the
particular trading strategy of the Private Fund.

The fee schedule for the Private Funds generally is not negotiable; however in most cases,
Chilton has the discretion to waive fees with respect to a Private Fund or any of the
investors in a Private Fund, including principals and employees of Chilton, its related
persons and/or its advisory affiliates.

A Managed Account that invests in parallel with any of the Private Funds generally has the
same fee schedule as the applicable Private Fund. For any Managed Account pursuing a
different investment strategy, the fee schedule will depend on factors such as the
investment objectives of the Managed Account and the types of securities in which such
Managed Account may invest.

The fee schedule for each UCITS Fund is disclosed in the prospectus, product annex or Key
Investor Information Document for such funds.

The withdrawal or redemption by a Private Fund investor during any period or the
termination of an advisory contract by the owner of a Managed Account during any period
for which a management fee has been pre-paid will generally result in a refund of a pro rata
portion of such pre-paid management fees with respect to the remaining portion of the
applicable period.

In general, if a Client Account invests in a Private Fund (the “Target Fund”), the Client
Account will not be charged additional management fees by the Target Fund, unless the

                             Form ADV Part 2A: Firm Brochure

Target Fund carries a higher management fee rate than the Client Account, in which case
the Client Account’s investment in the Target Fund may be charged an additional amount
equal to the difference between the level of such management fee charged by the Target
Fund and the management fee charged to such Client Account.

Each Private Fund and Managed Account will generally bear its own expenses. In addition
to the fees discussed above, such expenses may include, without limitation:
(i) organizational and offering expenses; (ii) expenses incurred in connection with
investments and prospective investments, including the cost of obtaining Research
Products and Services (as defined below),              travel-related costs, and brokerage
commissions; (iii) expenses incurred in connection with the ongoing operations of the
Client Account (including, to the extent allocable to such Client Account, such expenses
incurred by Chilton and its affiliates) including legal and compliance expenses (which may
include expenses related to regulatory filings made on behalf of the Client Account, such as
Form PF), administrative expenses, board expenses, expenses incurred in connection with
marketing, reporting, accounting and audits, registration fees and insurance expenses;
(iv) custodial fees; (v) interest; (vi) expenses incurred in respect of research, statistical,
market data and trading and portfolio management services and software; (vii) expenses
incurred in respect of obtaining and maintaining one or more insurance policies; and
(viii) certain extraordinary expenses, such as litigation expenses.

“Research Products and Services” refers to services provided by brokers or dealers which
provide appropriate assistance to Chilton in the investment decision-making process,
which include advice as to the value of securities, the advisability of investing in,
purchasing or selling securities, financial publications, electronic market quotations,
performance measurement services, providing information regarding the availability of
securities and potential buyers or sellers of securities, and furnishing analyses and reports
concerning issuers, industries, securities, economic factors and trends, and portfolio
strategy. Research Products and Services may, where permitted in accordance with
applicable laws and regulations, also include access to computer databases, market data
services, and research-oriented computer software and other services.

Pursuant to the terms of administration agreements between Chilton and certain Private
Funds whose assets may constitute “plan assets” subject to the fiduciary provisions of the
Employee Retirement Income Security Act of 1974, as amended (the “ERISA Funds”), the
ERISA Funds pay Chilton an annual fee (the “Research Services Fee”), as set forth in the

                            Form ADV Part 2A: Firm Brochure

offering memorandum of each ERISA Fund, for providing such Research Products and
Services to the ERISA Funds.

As discussed above, Chilton’s Client Accounts also bear brokerage expenses and other
transaction costs. Item 12 further describes the factors that Chilton considers in selecting
broker-dealers for transactions and determining the reasonableness of their compensation
(e.g., commissions). Additional information about each Private Fund as well as the fees
and expenses charged to investors by such Private Fund is provided in the Private
Fund’s offering documents. Additional information about each UCITS Fund is disclosed
in its prospectus, product annex and/or Key Investor Information Document.
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Item 7 – Types of Clients

Chilton provides investment advice and portfolio management services to its Client
Accounts (as defined in Item 4). Investors in the Private Funds generally include high net
worth individuals and families, pension and profit-sharing plans, corporations, trusts,
estates, charitable institutions, foundations, endowments and other business entities.

The conditions for becoming an investor in each of the Private Funds managed by Chilton,
including the minimum investment, are set forth in the offering documents for each Private
Fund. The minimum investment ranges generally from $500,000 to $1 million, depending
on the Private Fund. Chilton generally has the discretion to waive such minimums, subject
to compliance with applicable law.

As discussed in Item 4, Managed Accounts are generally established by foundations,
endowments, insurance companies, high net worth individuals or families, pension plans or
institutional investors. The minimum investment for a Managed Account varies depending
on the nature of the account.

                                     Form ADV Part 2A: Firm Brochure