CMT Asset Management LLC

ITEM 5 – Fees and Compensation

Item 5.A.

CMTAM’s fee schedule is omitted because this Brochure is only being delivered to “qualified
purchasers” as defined in the Investment Company Act of 1940, as amended (“Company Act”).
The fees and expenses that we charge to Funds may vary. We typically will determine, in
connection with launching the Fund, the management fee, carried interest, performance
allocation or performance fee (discussed in Item 6), and expenses payable by the Fund and/or
its Investors, but will reserve the right, in our sole discretion, to reduce or waive the management
fee and/or carried interest, performance allocation, or performance fee payable by the Fund or
by any Investor. Each Fund’s management fee, carried interest, performance allocation or
performance fee, and expenses, and the timing of our receipt of the same, are set forth in detail in
the Fund’s Offering Documents.

For certain Funds, CMTAM will receive a management fee calculated and payable quarterly in
advance based on net asset value, capital commitments, or net capital contributions, as
applicable. For certain Funds that are co-investment vehicles – in which Investors and third-
party investors invest alongside another Fund – the management fee is calculated and payable
on each date on which the Fund either receives any proceeds from distributions, dividends,
interest, dispositions,

To the extent a Fund invests in other investment vehicles, that Fund will not only be subject to
the management fee, carried interest, performance allocation or performance fee, and expenses
charged by us, but will also be subject to similar asset-based fees, carried interests, performance
allocations or performance fees, and expenses charged by those investment vehicles. Fund
Investors should refer to the Offering Documents for that Fund for additional
information regarding investment vehicles of this type.

We may, in our discretion, manage other accounts with higher or lower fees, different fee
structures, and/or different expense payment arrangements than those applicable to our existing
Funds for whom we currently serve as investment adviser.

We may pay a portion of the fees, carried interest, and/or performance allocations or
performance fees we receive from Funds to selling agents, consultants, or other advisers.

It is critical that Investors refer to their respective Fund’s Offering Documents for
a complete understanding of how CMTAM is compensated for its advisory services.
The information contained herein is a summary only and is qualified in its entirety by the
relevant Offering Documents.

Item 5.B.

CMTAM (or an affiliate) deducts fees from Investors’ assets invested in the Funds. Investors do
not have the ability to choose to be billed directly for fees incurred.

Item 5.C.

The Funds generally pay the following expenses:

   •   organizational expenses,
   •   all costs and expenses incurred in connection with evaluating, acquiring, holding,
       managing, and disposing of its investments (whether consummated or not),
   •   due diligence expenses (e.g., consulting, legal, appraisal, third-party research, travel, and
       other costs),
   •   costs of participating in sales and pre-sales of digital protocols and/or tokens,
   •   interest expenses,
   •   broken deal expenses,
   •   taxes imposed on the Fund as determined by CMTAM,
   •   custodial fees,
   •   valuation costs,
   •   regulatory reporting costs,
   •   legal and enforcement expenses, including any expenses of the Fund’s “partnership
       representative,”
   •   insurance expenses,
   •   expenses and fees incurred in connection with investments in portfolio funds and other
       investment entities (including management and/or performance compensation paid to the
       managers of portfolio funds),
   •   expenses and fees incurred in connection with the use of any SPV, alternative investment
       vehicle, or other entity through which the Fund makes portfolio investments,
   •   all other costs and expenses relating to the Fund’s investments,
   •   operating and offering costs and expenses, including, but not limited to, routine legal,
       accounting, audit, tax preparation, administrative (including fees to the administrator),
       printing, filing, technology, risk management systems, software/hardware, custody/storage
       (including physical vaults for storage of private keys), and other operating expenses, and
   •   extraordinary expenses (e.g., indemnification and non-routine legal expenses)

For the avoidance of doubt, the aforementioned expenses include brokerage and other
transaction costs. For more information on brokerage practices, please see Item 12.

It is critical that Investors refer to the relevant Offering Documents for a complete
understanding of fees and expenses they may pay. The information contained herein is a
summary only and is qualified in its entirety by such documents.

Item 5.D.

As noted in Item 5.A, above, asset-based fees are generally charged quarterly in advance based on
the value of the relevant assets as of the first day of the quarter.

Investors in the Funds do not have the right to withdraw or redeem. The investment management
agreements for each Fund terminate at the expiration of the term of the Fund.

It is critical that Investors refer to the relevant Offering Documents for a complete understanding
of how they can obtain a refund and withdraw or redeem. The information contained herein is a
summary only and is qualified in its entirety by such documents.

Item 5.E.

Not applicable to CMTAM.

ITEM 7 – Types of Clients

As discussed above under “Advisory Business,” we currently serve as the investment manager for
various Funds. We may serve as investment manager for other Funds in the future and we may
serve as investment manager for Clients of all types, including institutional investors (e.g.,
corporations, partnerships, insurance companies, banking or thrift institutions, charitable
organizations, governmental entities, pension and profit-sharing plans, sovereign wealth funds,
trusts and estates) and high net worth individuals. Similarly, subject to the considerations set forth
in the following paragraph, a Fund may offer its interests to institutional investors and high net
worth individuals.

Investors in a Fund generally will be required to complete and submit a subscription or
commitment agreement binding them to the terms of the Fund’s Offering Documents. A Fund
generally will admit only: (A) sophisticated U.S. taxable investors that are both (i) “accredited
investors,” as defined in Rule 501(a) of Regulation D under the U.S. Securities Act of 1933, as
amended, and (ii) as applicable, “qualified purchasers” (or “knowledgeable employees”), as
defined in the U.S. Investment Company Act of 1940, as amended (the “Company Act”), and the
rules thereunder, or “qualified clients” as defined in Rule 205-3 under the U.S. Investment
Advisers Act of 1940, as amended (the “Advisers Act”), (B) sophisticated non-U.S. investors, or
(C) sophisticated U.S. tax-exempt investors that are “accredited investors” and either “qualified
purchasers” or “qualified clients,” as applicable.

CMTAM does not currently have a minimum size for a Fund.