Edenbrook Capital LLC

Item 5: Fees and Compensation

The fees applicable to each of the Funds are set forth in detail in the corresponding Offering
Documents. A brief summary of such fees is provided below.

Management Fee

Edenbrook is paid an investment management fee between 0.90% and 1.25% (“Management
Fee”) per annum of the net asset value of the Funds subject to a reduction once contributions
to the Funds meet a threshold as disclosed in the Funds offering documents.

The Management Fee will be paid quarterly in advance, based on the value of each Limited
Partner’s capital account as of the first business day of each calendar quarter. The
Management Fee will be adjusted for contributions and withdrawals made during the quarter.

The General Partner, in its sole discretion, may waive or modify the Management Fee for
Limited Partners that are members, employees or affiliates of the General Partner or the
Investment Manager, relatives of such persons, and for certain large or strategic investors.

Performance Based Allocation Fees

Edenbrook Capital Partners, LLC, the General Partner, receives an annual performance
allocation fee from the Limited Partners of the Funds as disclosed in the respective fund
offering documents. Generally, Limited Partners pay a performance fee that ranges from 15%
to 20% of the net capital appreciation credited to each investor, which may be subject to a
high-water mark and/or a hurdle as disclosed in the respective Funds’ offering documents.

Other Types of Fees or Expenses

Edenbrook is authorized to incur and pay in the name and on behalf of the Funds all expenses
which they deem necessary or advisable.

In addition to bearing the Management Fee and Performance Based Allocation Fee, if any, the
Funds will also be subject to other expenses related to its investments and operations, such
as Fund legal, compliance, administrator, audit and accounting expenses (including third-party
accounting services); investment expenses such as commissions; interest on indebtedness;
borrowing charges on securities sold short; custodial fees; bank service fees; and any other
expenses related to the purchase, sale or transmittal of Fund assets. In addition, Clients will
incur brokerage and other transaction costs. Please refer to Item 12 of this Brochure for a
discussion of the Firm’s brokerage practices.

In general, each Investor will bear its proportionate share of the Fund expenses on a pro rata
basis with respect to the size of such Investor’s capital account(s) or with respect to the
relative net asset value of the shares held by such Investor, as applicable.

Notwithstanding the foregoing, the Fund General Partner and/or the Firm, as applicable, may
specially allocate the expenses described herein in any other manner, including by allocating
certain expenses to certain (but not all) Investors, if the Fund General Partner and/or the Firm,
as applicable, reasonably determines, in its discretion, that it is more equitable to do so.

To the extent that expenses to be borne by the Funds are paid by the Firm or its affiliates, the
Funds will reimburse the Firm or its affiliates for such expenses. We may waive any such
reimbursement with respect to any Fund expenses. Any waiver by us for reimbursement of
any Fund expenses shall not serve as a waiver of reimbursement for any future Fund expenses
to be paid by us or our affiliates.

The allocation of expenses by the Firm between the management company and among Funds
represents a conflict of interest. The Firm has adopted an expense allocation policy that is
designed to address this conflict. The Firm will allocate expenses to each Fund in accordance
with the Fund’s governing documents.

Neither the Firm nor its employees accept compensation, including sales charges or service
fees, from any person for the sale of securities or other investment products.

Item 7: Types of Clients

Our clients are the Funds, as described in Item 4 above, and the Funds are generally open to,
among others, institutions, pension plans, family offices, multi-family offices, fund-of-hedge
funds, endowments, foundations, trusts, charitable organizations, high net-worth individuals,
and financially sophisticated individuals.

Any initial or additional subscription minimums are disclosed in the offering memorandum for
the Funds.