Connacht Asset Management LP

Item 5. Fees and Compensation

Asset-Based Compensation.

Each of the Clients pays the Adviser a quarterly management fee based upon the value of the net assets
of such Client in an amount ranging from 1.00% to 1.50% (the “Management Fee”). The Management Fee
is charged quarterly in advance based on the total market value of the assets in the client account as of the
first day of each calendar quarter. The Adviser may, in its sole discretion, reduce or modify management
fees assessed on investments in Clients by the Adviser and certain or its members, principals, employees
or affiliates, relatives of such persons, and for certain large or strategic investors.

Performance-Based Compensation.

As a general matter, the Adviser or Connacht Asset Management Fund GP LLC (the “General Partner”) is
entitled to receive annual performance-based compensation (the “Incentive Compensation”) from the
Clients, which is compensation that is based on a share of net capital appreciation of the assets of a Client.
The Incentive Compensation ranges from 15% to 20% and is subject to a loss carryforward provision. The
Adviser may, in its sole discretion, elect to reduce, waive or calculate differently the Incentive Compensation
with respect to any employee or affiliate of the Adviser, any family member thereof or trusts, estate planning
and other investment accounts and/or vehicles established by or for the benefit of such persons.

Expenses. In addition to bearing the Management Fee and Incentive Compensation, if any, the Clients will
also be subject to other expenses related to its investments and operations, such as Client legal,
compliance (including consultants’ fees), risk management expenses (including software licensing and
consultants’ fees), administrator (including, but not limited to, middle and back office services and software
necessary for trade capture and portfolio management), audit and tax preparation (including third-party tax
preparation) and accounting expenses (including third party accounting services and accounting software);
organizational expenses; execution and order management system fees and expenses; investment
expenses such as commissions, research fees and expenses (including Bloomberg and similar
subscriptions and data services and research-related travel (including meals and lodging)); interest on
margin accounts and other indebtedness; borrowing charges on securities sold short; custodial fees; bank
service fees; Client-related insurance costs (including D&O and E&O insurance for the Adviser, its affiliates,
and their personnel); independent Master Fund Governance Committee members’ fees and expenses;
expenses of regulatory compliance (including compliance with AIFMD and AEOI), filings and reporting
(including but not limited to Section 13, Section 16 and Form PF filings); pricing service fees; portfolio
valuation expenses (including data feeds and third-party valuation agents); and any other expenses related
to the purchase, sale or transmittal of Client assets.

The allocation of expenses by the Adviser between it and a Client and among Clients represents a conflict
of interest for the Adviser. The Adviser has adopted an expense allocation policy that is designed to address
this conflict. The Adviser allocates expenses to each Client in accordance with the Client’s governing
documents. The Adviser seeks to allocate any shared expenses for products and services benefitting
multiple Clients or both the Adviser and a Client, and not covered in the Client’s governing documents, in a
fair and reasonable manner.

Item 7. Types of Clients

The Adviser’s clients consist of pooled investment vehicles. Any initial and additional subscription
minimums with respect to investment in a Client are disclosed in the offering memorandum for each Client.