D E Shaw & Co LP

Item 5:          Fees and Compensation

The Adviser’s compensation for advisory services generally comprises an asset-based fee (a “Management
Fee”) and a performance-based fee, charge, or allocation (each, a “Performance Charge”); in the case of
the Adviser’s “employees’ securities company,” such compensation comprises a charge based on the
operating costs of such company and the Funds in which it invests. In each case, the definitive terms of
the Adviser’s compensation are set forth in the applicable Governing Document.

Management Fees generally are paid monthly or quarterly in advance based on net assets as of the
beginning of the relevant month or quarter, respectively.

The Adviser enters into Performance Charge arrangements with clients that fall within the definition of a
“qualified client” pursuant to Rule 205-3 under the Advisers Act or as permitted under Section 205(b) of
the Advisers Act. Performance Charges generally are paid in arrears annually or, where applicable, at the
time of a withdrawal or distribution of capital.

The fee schedule for qualified clients of the Adviser typically includes a Management Fee of up to 3.5%
annually and a Performance Charge of up to 40% of net profits; for certain Funds, the Performance
Charge is assessed only on net profits above a given “preferred” rate of return. A percentage of the
Management Fee (if any) is deducted monthly or quarterly from the applicable Fund. Each Performance
Charge is assessed annually (or on a pro rata basis upon a withdrawal or distribution from the applicable
Fund) on any net profits or distributable amounts and in many cases is subject to loss carryforward
provisions.

In general, if a Management Fee has been paid in full in advance for a period in which the advisory
contract with the relevant client has been terminated, or, with respect to a Fund, for the period in which
an investor has withdrawn its investment in such Fund, the applicable portion of such Management Fee
paid relating to the portion of the period after such termination or withdrawal will be returned or credited
to the client or to the withdrawing or redeeming Fund investor, subject to the terms of the applicable
Governing Document; however, the Governing Documents typically do not permit such intraperiod
terminations or withdrawals.

Certain Funds or classes of Fund interests may have additional or different fee provisions, which are set
forth in the applicable Governing Document.

The Adviser negotiates fees and other terms in certain cases. From time to time, the Adviser has entered
into agreements with certain underlying investors in the Funds, including without limitation related
persons and employees (and entities related to such employees) of the Adviser and/or its affiliates, that
provide for terms of investment that are more favorable than the terms set forth in the applicable
Governing Document. Such terms may include, among other things, the waiver, reduction, or rebate of
Management Fees, Fund expenses, and/or Performance Charges; the provision of additional information
or reports; more favorable transfer and/or withdrawal rights; provisions regarding indemnification
and/or the jurisdiction and choice of law for disputes regarding the investment; provisions regarding the
investor’s and/or the Adviser’s confidentiality obligations; and “most-favored-nation” provisions covering
one or more terms or rights. No such agreement necessarily entitles any other Fund investor to the same
terms of investment as offered in such agreement.

The Funds generally incur expenses in connection with custodial or brokerage services outlined in
Item 12. In addition, as set forth in the applicable Governing Document, each Fund incurs operating costs
and expenses (collectively, “operating costs”), including certain operating costs relating to services
provided by Arcesium LLC (as outlined below), that are borne by the investors in the applicable Fund.

Subject to the applicable Governing Document, examples of operating costs include, without limitation:

        (a) organizational costs of a Fund, generally subject to a cap;

(b) costs related to the acquisition, holding, monitoring, maintenance, or disposition of
    investments held or pursued by a Fund (whether or not such investments are consummated),
    such as transaction costs (including without limitation commissions; brokerage, exchange,
    clearing, and other similar costs; and finder’s, break-up, success, and other similar fees);
    costs related to exchange memberships; financing costs; costs related to data and information
    services; due diligence and research costs; travel costs (including without limitation
    transport, food, and lodging costs); management fees, performance charges, and other
    expenses and costs imposed by unaffiliated funds (including exchange-traded funds and
    money market mutual funds) or otherwise paid or reimbursed to third parties; and costs for
    accounting, consulting, valuation, legal, tax, or other services and technology;

(c) costs related to the general operations of a Fund, such as costs related to administration
    (including costs associated with services provided by any third-party administrator to a
    Fund); costs related to accounting, audit, consulting, financial operations, legal, reporting,
    tax, post-trade support (including costs associated with technology and services provided by
    Arcesium LLC, as discussed in “Services Provided by Arcesium LLC” below), treasury,
    valuation, independent agent, and other services and technology; costs related to the
    preparation and provision of certain additional information provided to some or all
    underlying investors and/or prospective investors in a Fund; costs related to data and
    information services; costs related to the ongoing offering of Fund interests (including costs
    related to U.S. and/or non-U.S. registrations or filings (on behalf of a Fund, the Adviser, or
...

Item 7:          Types of Clients

The Adviser’s only clients are the Funds, which are structured as private investment companies that are
exempt from registration under the Investment Company Act. A minimum dollar value of assets and
other conditions are typically imposed on investors in the Funds.