Deans Knight Capital Management Ltd

Item 5 – Fees and Compensation

Investment Advisory Fees

Deans Knight receives an investment advisory fee from its Clients, as a percentage of assets under
management (“Investment Advisory Fee”). The Investment Advisory Fee is negotiable and may
vary among Clients; however the range of compensation is generally per the fee schedule below.
This standard fee schedule may be modified from time to time.

Fee Schedule:

Deans Knight generally receives 1.0-1.5% per annum from each Client, on the market value of
assets calculated and charged quarterly in arrears. Notwithstanding this fee schedule and, subject
to applicable laws and regulations, Deans Knight retains discretion over the fees that it charges to
its Clients, as well as any changes in its fee schedules. Fees may be negotiated in Deans Knight’s
sole discretion in light of a Client’s special circumstances, such as asset levels, service
requirements, or other factors. In some cases, Deans Knight may agree to offer Clients a fee
schedule that is lower than that of any other comparable Clients in the same investment style. In
addition, there may be historical fee schedules with longstanding Clients that differ from those
applicable to new client relationships. For comparable services, other investment advisers may
charge higher or lower fees than those charged by Deans Knight.

Investment Advisory Fees are generally billed separately, either monthly or quarterly, in advance
or in arrears, and are prorated to the date of termination if the Client terminates its relationship
with Deans Knight. Investment Advisory Fees are also prorated at the inception of the investment
advisory agreement to cover only the period of time the account assets were under management.
Deans Knight, when permitted by the Client, deducts its Investment Advisory Fee directly from
Client accounts. All accounts are held with third-party custodians and/or trustees, as described
further in Item 15. Dependent on the agreement with the client, Deans Knight may prepare an
invoice, which would be sent to the Client and the custodian. The custodian will deduct the
Investment Advisory Fee from the applicable account and provide payment to the Firm. Deans
Knight cannot directly credit any Client accounts.

The Investment Advisory Fee charged to Clients generally is computed as a percentage of the
value of the assets under management. To calculate Investment Advisory Fees, Deans Knight
generally relies on prices provided by third-party pricing services, custodians, and/or
broker/dealers or platform sponsors for purposes of valuing portfolio securities held in client
accounts. Deans Knight may, on occasion, be required to “fair value price” a security when a
market price for that security is not readily available or when Deans Knight has reason to believe
that the market price is unreliable. When “fair value pricing” a security, Deans Knight will use
various sources of information at its disposal to determine a fair price that the security would obtain
in the marketplace if, in fact, a market for the security existed. For any fair value securities, Deans
Knight maintains policies and procedures relating to the pricing process in an effort to mitigate
any conflicts of interest with respect to valuation. For private investments Deans Knight uses the
most reliable information available, which is generally the price of the most recent offering or
third-party trade. In circumstances when an offering is not current, Deans Knight will use an
accepted valuation approach to support the value of an investment.

Deans Knight may also receive performance-based fees from certain Clients, which are subject to
applicable law, and are negotiable. See Item 6 for further information.

Fees for Specialized Accounts and Advisory Services

Pooled Investment Vehicles Sponsored by Deans Knight

Generally, the typical fee schedule for our Fund Clients is an annual Investment Advisory Fee
ranging from 0.75% to 2.00% of assets under management, payable either monthly, or quarterly,
in arrears. Deans Knight reserves the right to waive some or all fees for certain investors in the
funds, including for investors who are affiliated with Deans Knight or for the entire fund in general.
Fees for such services are generally set forth in the offering memorandum or other relevant
document.

Other fees payable as an investor in the pooled investment vehicles sponsored by Deans Knight
are described below.

Additional Fees and Expenses Payable by Clients

Deans Knight’s fees are exclusive of brokerage commissions, transaction fees, service provider
fees, and other related costs and expenses which will be incurred by the Client. Execution of Client
transactions typically requires payment of brokerage commissions by Clients. “Item 12 –
Brokerage Practices” further describes the factors that Deans Knight considers in selecting or
recommending broker/dealers for the execution of transactions and determining the reasonableness
of their compensation (e.g., commissions). Investment activity may also involve other transaction
fees payable by Clients, such as sales charges, odd-lot differentials, transfer taxes, wire transfer
and electronic fund fees, and other fees and taxes on brokerage accounts and securities
transactions. In addition, Clients may incur certain charges imposed by custodians, broker/dealers,
and other third parties, such as custodial fees, administrative fees, and transfer agency fees.

Fees for the Sale of Securities

Neither Deans Knight nor its employees receive, directly or indirectly, any compensation from the
sale of securities or investments that are purchased or sold for a Client’s account. Deans Knight
is compensated through the stated management fee agreed upon in the investment advisory
agreement and limited partnership agreements. Accordingly, Deans Knight believes that it does
not have any conflicts of interest regarding the receipt of additional compensation relating to the
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Types of Clients

Deans Knight provides portfolio management services to various clients, including but not limited
to, high net worth individuals, corporations, foundations, investment companies, employee
pension plans, endowments, mutual funds, and pooled-investment vehicles.

Conditions for Managing Accounts

As a general rule, Deans Knight requires a minimum account size of $100,000 USD for clients
and individual investors in a pooled investment vehicle. However, the minimum account size is
negotiable and may be waived or modified at Deans Knight’s discretion. Generally, Deans Knight

requires each Client to execute an investment management agreement that details the nature of the
discretionary investment advisory authority given to Deans Knight. Investments in our pooled
investment vehicles are offered through a subscription agreement and can only be taken up by
investors satisfying the applicable eligibility and suitability requirements and are required to
execute a subscription agreement or equivalent agreement which details the conditions of their
investment.