Delta Global Management LP

Item 5 - Fees and Compensation
As further described in the Agreement, the Client employs an expense-based pass-through model and
does not pay a management fee or any other asset-based fee to Delta Global. The Adviser may also be
entitled to receive a performance fee in connection with the provision of advisory services to its Client
subject to terms and conditions as further described in the Agreement.

As described above, the Adviser will bear certain expenses incurred on behalf of the Client’s account in
accordance with a budget set forth in the Agreement (the “Budgeted Expenses”). Budgeted Expenses
incurred by the Adviser will be reimbursed by the Client. Such Budgeted Expenses are deducted from
profits when calculating the performance fee.

The Client will bear certain expenses related to the trading on behalf, and operation, of the account,
including: brokerage commissions and all other execution costs, including transaction-related taxes or
fees and stamp taxes; the Adviser’s charges for the cost of capital and financing of positions, as in effect
from time to time; withholding taxes on dividends; legal expenses related to investments in the account
and any extraordinary expenses related to the trading of the account (such as those related to litigation
or regulatory investigations or proceedings).

Item 7 - Types of Clients
Delta Global provides investment advice solely to its institutional client, and references throughout this
Brochure to “clients” and to Delta Global’s related duties to and practices on behalf of its clients should
be construed accordingly.