Coronado Resources Management LP

ITEM 5: FEES AND COMPENSATION

Management Fees & Carried Interest
CRM and its Relying Advisers receive fees from the Coronado Funds as set forth in the Governing
Documents. For newer funds, CRM receives a management fee based on a percentage of the Limited
Partners’ capital commitments during the relevant investment period and then this converts to a fee based
on a percentage of actual capital contributions post investment period (the “Fund Management Fee”). For
the oldest funds or SPVs, CRM or OMM generally receive a percentage of gross revenues. The Management
Fee is typically payable monthly in advance throughout the term of the fund.

In addition to Management Fees, CRM or an affiliate is generally entitled to receive a performance incentive
based on a percentage of distributions as set forth in the Governing Documents for each fund. CRM or an
affiliate is typically entitled to a set percentage of all distributions until the Limited Partners have received
100% of their capital contributions and thereafter receives a performance incentive (typically 15% for newer
funds) of all distributions, after the return of capital contributions to Investors. Distributions are generally
made monthly or quarterly based on available cash.

CRM is not obligated to waive or reduce Management Fees for any other Investor when offering waivers
or reductions to a particular Investor. Pursuant to the terms of fund Governing Documents, Limited Partners
are not permitted to withdraw assets during the life of the fund and are therefore not eligible for
reimbursement of any Management Fees.

Fund Expenses
In addition to Management Fees, each Coronado Fund is responsible for its own organizational, investment
and operating expenses (“Fund Expenses”), including third-party expenses and expenses of CRM and its
affiliates. The Coronado Funds may pay Fund Expenses directly or reimburse CRM or a CRM affiliate, for
such expenses paid or incurred on behalf of the Fund. Fund Expenses are described more fully in the Fund’s
Governing Documents but generally include the following:

    •   Organizational Expenses;
    •   Management Fees;
    •   Administrative expenses, including:
           o Accounting and audit fees and expenses;

            o    Maintenance of books and records, including the rent and occupancy expenses of any
                 offices that solely maintain land files and data;
            o Limited Partner reporting costs;
            o Preparation of distributions, financial reports and notices;
            o Legal, engineering, property tax and consulting expenses;
    •   Investment expenses related to investments and attempted investments that are not consummated
        (“dead deal expenses”), including:
            o Legal, accounting, consultant, engineering, surveying, geological, geophysical and other
                 professional costs;
            o Travel expenses, which may include commercial or business class travel, private or charter
                 travel, meals and entertainment expenses;
            o Brokerage commissions, investment banking fees and other finder’s fees and transaction
                 costs;
            o Custody fees and costs of other third-party services;
            o Expenses associated with monitoring investments;
            o Expenses associated with producing, processing, marketing or selling hydrocarbon
                 products;
            o Expenses associated with disposition (or proposed disposition) of all or any portion of
                 investments;
            o Expenses related to structuring investment vehicles; and
            o Any withholding, transfer or other taxes imposed on the Fund.
    •   The Fund’s allocable share of all expenses of the Manager attributable to the management and
        operation of the Fund that are not Manager Expenses (as described below);
    •   Principal, interest, fees, expenses and other amounts payable in connection with any permitted
        borrowing;
    •   Expenses incurred in registering the Fund or qualifying for exemptions under applicable law;
    •   Unreimbursed expenses incurred in connection with collecting amounts due from any person;
    •   Expenses incurred in preparation of alterations and amendments to Governing Documents;
    •   Costs of acquiring and maintaining insurance for the Fund and any indemnified person in
        connection with Fund activities;
    •   Litigation expenses, including costs of investigation and preparation and any settlement;
    •   Indemnification costs in connection with any litigation involving the Fund;
    •   Administrative expenses related to any tax or audit matters;
    •   Expenses related to taxes, fees or governmental charges of the Fund;
    •   Expenses incurred in connection with the dissolution and liquidation of the Fund;

Fund Expenses are generally allocated among all Limited Partners on a pro rata basis unless otherwise
determined appropriate by the general partner. Shared expenses between more than one Private Fund are
allocated among such Funds as reasonably determined in good faith by the general partner. General and
administrative expenses are generally allocated among Private Funds based on estimates of effort expended,
benefit received, assets under management and other methods that are reasonable in light of the
circumstances, which methods may vary for different types of expenses and may change over time.

The General Partner and the Manager for each Private Fund are responsible for expenses as set forth in the
Governing Documents for each Private Fund (“Manager Expenses”), including:

    •   Rent and occupancy costs and other overhead and administrative expenses of the Manager (except
        that rent and occupancy expenses of any offices in which land files and data are solely maintained
        are Fund Expenses);
    •   Compensation and benefit expenses of employees, consultants and other outside service providers
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ITEM 7: TYPES OF CLIENTS

CRM provides discretionary investment management services to the Coronado Funds and SPVs identified
in Item 4, which are exempt from registration under the Investment Company Act and Securities Act.

Investors in the CRM Funds and SPVs are generally high net worth investors, family offices, foundations
and endowments that are “accredited investors,” “qualified clients” and “qualified purchasers” (if required
pursuant to the fund’s exemption), within the meaning of the Securities Act, the Advisers Act and the
Investment Company Act, respectively.

The Coronado Funds generally have a specified minimum investment as set forth in their Governing
Documents. This minimum investment is subject to discretion, and CRM or its affiliates may permit
investments of a smaller amount generally or with respect to any investor.

CRM also provides non-discretionary advisory services to TD Minerals, as discussed in Item 4. TD
Minerals is a sophisticated oil and gas investment entity.