Contour Asset Management LLC

ITEM 5 – FEES AND COMPENSATION
It is very important that Investors refer to the respective confidential PPM for a complete
understanding of fees and expenses Clients and/or Investors may pay. The information contained
herein is a summary only and is qualified in its entirety by such materials.

5.A. Advisor Compensation

Contour is compensated (either directly or through an affiliated general partner entity) in the form of a
management fee (the “Management Fee”) generally at an annual rate between 1.0% and 2.25% of the net
asset value of each share or limited partnership interest, as applicable, along with performance-based
allocation (the “Incentive Allocation”). Investors bear their respective portions of the Management Fee and
Incentive Allocation. Investors and prospective investors should refer to the relevant offering documents
for a detailed description of the manner in which Contour is compensated.

For the Manticore Funds, Management Fees are generally paid monthly in arrears within 10 business days
after the end of the month for which the Management Fee is calculated. Certain classes have higher
management fees to cover distribution costs, which are disclosed in the relevant offering materials. In the
Manticore Fund, Classes K, L, and M incur distribution costs charged by Bank of America Merrill Lynch.
The higher management fees are disclosed to such investors in the relevant offering materials and subject
to a rebate by Contour. Contour administers class eligibility and any applicable rebates in accordance with
the relevant offering documents and its policies and procedures designed to manage related conflicts of
interest.

For the Onshore Fund, the Incentive Allocation is crystallized based on the net profits (including realized
and unrealized gains and losses) at the end of each calendar month for Classes A, B, K, L, and M and at the
end of each calendar year for Classes C and D. For the Offshore Fund, the Incentive Allocation is
crystallized based on the net profits (including realized and unrealized gains and losses) at the end of each
calendar month for Classes A, B, C, K, L, and M and at the end of each calendar year for Class E.

For the Offshore Fund, for classes where the Incentive Allocation is crystallized monthly, Contour GP LLC
is entitled to be allocated an amount generally equal to twenty percent (20%) of the excess, if any, of (i) the
net asset value of each Investor’s series of shares or capital account, as applicable, as of the end of such
calendar month over (ii) a cumulative performance benchmark (as described in the confidential PPM)
calculated for each such series of shares or capital account, as applicable, as of the last day of such calendar
month. For classes where the Incentive Allocation is crystallized annually, Contour GP LLC is entitled to
be allocated an amount generally equal to twenty percent (20%) of the excess, if any, of (i) the net asset
value of each Investor’s series of shares or capital account, as applicable, as of the end of such calendar
year over (ii) the cumulative performance benchmark (as described in the PPM) calculated for each such
series of shares or capital account, as applicable, as of the last day of such calendar year.

As discussed in Item 10, Brummer is eligible to receive a percentage of the Management Fee paid to
Contour by Brummer related investors in the Offshore Fund.

The portion of the Management Fees or Incentive Allocations applicable to an Investor in the Manticore
Funds may be (and, for certain Investors, has been) waived or modified by Contour or an affiliate. It should
be noted that Class D of the Offshore Fund has been set up for investments made by employees and their
immediate family members, including employee 401k investments (“Employee Investments”) and trusts.
In addition, Contour permits Employee Investments in Class A and Class B of the Onshore Fund. Employee
Investments in the Manticore Funds by current employees are not subject to Management Fees and/or
Incentive Allocation.

For MBF, the Management Fee is calculated, generally at a rate equal to 2% per annum (1/12 of 2% per
month) of the net asset value of each series of Class A shares. The Management Fee is prorated for shares
that are purchased at any time other than the first day of a calendar month.

Contour GP holds certain allocation shares of MBF (the “Incentive Allocation Shares”). Pursuant to the
terms applicable to the Incentive Allocation Shares, in respect of each month (or the date on which any
redemption proceeds are paid), the Incentive Allocation Shares are entitled to be allocated an amount equal
to twenty percent (20%) of the excess, if any, of (i) the net asset value of each series of Investor’s series of
shares over (ii) the cumulative performance benchmark (as described in the PPM) calculated as of the last
day of such calendar month. The fee structure applicable to Manticore BMS Fund Limited differs from that
of the Manticore Funds and reflects the distinct investment strategy, leverage profile, and governing
documents applicable to MBF. Investors should refer to the MBF offering materials for a complete
description of applicable fees and expenses.

Contour receives compensation for its advisory services to the Sub-Advised Funds and the SMAs pursuant
to the terms of the investment management agreement. Such compensation includes a management and
incentive fee or incentive allocation.

Management Fees, incentive allocations, and other compensation arrangements may vary among Clients
and Investors based on factors such as share class, investment vehicle, distribution arrangements, side
letters, or other client-specific terms. These differences may give rise to conflicts of interest, including
incentives for Contour to favor accounts or Clients that generate higher fees or performance-based
compensation. Contour seeks to manage such conflicts through its policies and procedures governing
...

ITEM 7 – TYPES OF CLIENTS

Contour currently provides discretionary investment advisory services to the Funds, as described in Item 4,
above. Contour also provides investment advisory or sub-advisory services to certain non-U.S. pooled
investment vehicles and separately managed accounts pursuant to investment management or sub-advisory
agreements.

Clients of Contour include institutional investors and other sophisticated investors that meet the applicable
eligibility requirements set forth in the governing documents of the relevant investment vehicle or advisory
agreement. Investors in the Funds must meet certain eligibility requirements. Specifically, interests or
shares in the Funds are generally offered to (i) U.S. persons (as defined in Regulation S under the U.S.
Securities Act of 1933, as amended (the “Securities Act”)), that are “accredited investors” for the purposes
of Regulation D under the Securities Act and “qualified purchasers” as defined in Section 2(a)(51) of the
U.S. Investment Company Act of 1940, as amended; or (ii) persons that qualify as non-U.S. persons for the
purposes of Regulation S under the Securities Act. It is anticipated that Investors in other funds managed
by Contour in the future will have to meet similar eligibility criteria, as applicable.

Investments in the Funds are intended only for certain financially sophisticated institutions, companies, and
individuals who can bear the risk of loss of some or all of their investment.

    •   For the Manticore Funds, the minimum initial investment, unless waived in each case, is generally
        between $100,000 and $5,000,000, based on the invested share class, as detailed in the relevant
        Fund’s PPM or similar governing documents.
    •   The minimum initial subscription amount of all subscriptions of Classes K, L and M shares of the
        Onshore and Offshore Funds made as of the initial closing date that such Classes K, L and M shares
        are offered must equal, in the aggregate, at least $1,000,000.
    •   For MBF, the minimum initial investment, unless waived in each case, is generally between
        $100,000 and $100,000,000, based on the invested share class, as detailed in the relevant Fund’s
        PPM or similar governing documents.

The Sub-Advised Funds and the SMAs minimums are agreed upon by Contour and the relevant Client’s
representatives.