Chronometer Partners LP

Item 5.     Fees and Compensation

The Firm collects fees from Clients based on a percentage of assets under management (“Management
Fees”). In addition, the Firm receives compensation based on Clients’ performance, as described in Item
6 below, and its related persons may receive such compensation from future Chronometer Funds. For a
complete description of specific compensation arrangements, Clients should carefully review the relevant
Governing Documents. All of the Firm’s Clients are “qualified purchasers” (as defined in Section 2(a)(51)
of the Investment Company Act of 1940, as amended).

Management Fees

The Sub-Advised Fund pays the Firm a Management Fee monthly in arrears. The SMA pays the Firm a
Management Fee monthly in advance. Such Management Fees are invoiced to, and paid by, such Clients.
For the SMA, such fees would be prorated if the investment advisory agreement is terminated mid-month.

Expenses

Clients bear their own expenses relating to investments and trading, including brokerage commissions,
trade-related fees and custodial charges. In addition, the Firm is permitted to invoice certain expenses to
certain Clients subject to expense caps described in each respective Client’s Governing Documents.
Expenses borne by Clients, and subject to the aforementioned expense caps (where applicable), include
certain data, research, information technology-related expenses, and other expenses directly related to
managing such accounts. The Sub-Advised Fund will also bear an amortized schedule of certain pre-launch

Chronometer Partners LP                                                                    Form ADV Part 2A

expenses, including certain data, research, technology and software expenses. For a more detailed
discussion of brokerage and transaction costs, see Item 12 – Brokerage Practices.

Clients will only bear their pro rata portion of applicable expenses. To the extent that a Client benefits
from an expense that is chargeable to other Clients, but the Client is not permitted to incur such expense
under its Governing Documents, the Firm will bear such Client’s pro rata portion of the expense.

Item 7.     Types of Clients

The Firm’s Clients are private funds and an institutional investor that qualify as “accredited investors” (as
defined in Rule 501 under the Securities Act of 1933, as amended) and qualified purchasers. If the Firm
determines to require a minimum investment for Clients, it will make that determination on a case-by-
case basis.