Civic Capital Advisors LLC

Item 5 – Fees and Compensation

Advisory fees paid to Civic vary from Client to Client.

The Funds are structured such that Civic receives a management fee for its management
services (the “Management Fee”), which is deducted by the Client’s custodian from the
Client’s account pursuant to the Adviser’s instructions. The Management Fee paid by each
Client is typically based on the Client’s assets under management, and is determined based
on an annualized rate. Investors in each Client are charged their portion of the Management
Fee on an investor-by-investor basis, which is calculated based on the fees applicable to the
respective Class/Series in which their investment has been made, as detailed in the Client’s
Offering Documents. Currently, the annualized rates of such Management Fees generally
range from 1.00% to 1.75% (though, as noted below, such rates could be higher or lower for
certain investors). The Funds pay these Management Fees quarterly in advance, on the first
day of each quarter. The Adviser (or certain related persons of the Adviser, as applicable)
may waive, reduce, or modify the Management Fee and/or the process for payment thereof,
for certain Clients or investors in Clients.

In addition, as described in more detail in Item 6 – Performance-Based Fees and Side-by-
Side Management, and as may be subject to a “high watermark” pursuant to each Client’s
Offering Documents, the Adviser (or certain related persons of Civic, as applicable) may
receive a performance-based incentive allocation, which shall generally be at a rate of up to
17.5% of each Client’s net profits, if any, for the applicable fiscal quarter or year; however, in
certain cases, the performance-based compensation that the Adviser receives from a Client
may exceed or may be lower than 17.5% on an annualized basis. This allocation would
occur at the end of each Client’s fiscal quarter or year, as applicable, at which time each

Client’s custodian (or administrator, as applicable) would make deductions accordingly from
the capital account of each investor in each such Client, pursuant to instructions from the
Adviser. Each of these fees and the terms thereof are more fully described in the Offering
Documents for each Client. Investors in any Client managed by Civic should review the
applicable Offering Documents for full details as to how the management fees and incentive
allocations are calculated.

Investors in certain Funds may be required to pay a redemption charge to withdraw an
investment, depending upon the timing of the redemption and other factors. Such charges,
where applicable, are paid to the Fund, not to Civic.

In addition to paying investment management fees and performance-based compensation to
the Adviser (or a related person to the Adviser), certain other operating, transaction,
brokerage, and other investment-related expenses are paid by each Client. These expenses
are described more fully in each Client’s respective Offering Documents. Please see Item 12
of this Brochure for further discussion of the Adviser’s brokerage practices.

Item 7 – Types of Clients

Civic provides investment advisory services to the Macro Funds, and to certain managed
accounts (if any), as described above in Item 4. The underlying investors in the Funds, while
not Clients of Civic under the Advisers Act, are persons that are both “accredited investors”
within the meaning of Regulation D of the Securities Act of 1933 (the “Securities Act”), as
amended, and “qualified purchasers” as defined in Section 2(a)(51)(a) of the Investment
Company Act of 1940, as amended, subject to certain exceptions provided for under the
securities laws. The Funds have minimum investment amounts and various other eligibility
requirements, as detailed in their respective Offering Documents. The Funds’ investors may
include, but are not limited to, fund of funds, institutions, businesses, pensions, trusts,
government entities, and individuals meeting certain net worth requirements. The interests
or shares in the Funds are offered privately pursuant to applicable exemptions from
registration under Regulation D. Accordingly, interests or shares in the Funds are offered
and sold only to those investors that meet the eligibility requirements for private placements
and/or offshore transactions. Investors in the Funds are generally required to make
minimum initial investments of at least $1,000,000 to 5,000,000, but the minimum
investment restrictions may be waived by Civic (or one of its related persons, as applicable),
in some instances subject to ratification by the board of directors of offshore Fund entities.

Civic may also provide advisory services directly to institutional investors, sovereign wealth
funds, and other global market participants.