Egerton Capital US LP

ITEM 5. FEES AND COMPENSATION
Asset-Based Compensation

Egerton Capital (US) charges each client an investment management fee (as an annual % of assets)
based on the value of the client’s assets under management and the transfer pricing arrangement in
place between it and its related person (its parent entity), Egerton Capital (UK), ranging from 0.01% to
1.5% depending on the client account, share class and/or series.

Egerton Capital (US) may waive fees with respect to its personnel and their related persons.

For all clients:

Investment management fees are charged each month or each week, depending on the frequency of
dealing, in arrears based on the total market value of the assets in the client account (prior to the
accrual of that period’s investment management fee and any performance/incentive fee, and including
net unrealised appreciation or depreciation of investments and cash, cash equivalents and accrued
interest) on the last day of the period.

If a new client account is established during a period or a client makes an addition to its account
during a period, the investment management fee will be pro-rated accordingly. If a client’s investment
management agreement is terminated or a withdrawal is made from a client account during a period,
the investment management fee payable to Egerton Capital (US) will be calculated based on the
value of the assets on the termination date or withdrawal date and pro-rated for the period during the
period in which the investment management arrangement was in effect or such amount was in the
account.

Performance-Based Compensation

Egerton Capital (US) may also be paid a performance-based fee or allocation, which is compensation
that is based on a share of capital gains on or capital appreciation of the assets of a client (such as a
client that is a hedge fund or other pooled investment vehicle). This compensation may be paid to
Egerton Capital (US) or to a related person of Egerton Capital (US) and ranges from 0.01%–20%, and
may, in certain instances, be subject to a hurdle or preferred return.

These fees are not negotiable.

Investment management fees are deducted from client accounts and paid to Egerton Capital (US) or
to a related person on a monthly basis following liaison with the client or the client’s administrator.

For all funds, accrued performance fees and allocations are payable or able to be allocated to
Egerton Capital (US) or to a related person at the end of their respective financial year, with the
exception of accrued performance fees and allocations become payable or able to be allocated if an
investor redeems/withdraws prior to such year end.

In addition to paying investment management fees and, if applicable, performance-based
compensation, client accounts will also be subject to other investment expenses such as
administration charges, custodial charges, brokerage fees and other transaction costs, commissions
and related costs, interest expenses, taxes, duties and other governmental charges, transfer and
registration fees or similar expenses, costs associated with foreign exchange transactions, other
portfolio expenses, and costs, expenses and fees (including, depositary fees) associated with
products or services that may be necessary or incidental to such investments or accounts.

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Client assets may be invested in money market mutual funds, ETFs or other registered investment
companies. In these cases, the client will bear its pro rata share of the investment management fee
and other fees of the fund, which are in addition to the investment management fee paid to Egerton
Capital (US). For client accounts that are funds forming part of master-feeder structures, feeder funds
will bear a pro rata share of the expenses associated with the related master fund. In addition, clients
will incur brokerage and other transaction costs. Please refer to Item 12 for a discussion of Egerton
Capital (US)’s brokerage practices.

The allocation of expenses by Egerton Capital (US) between it and any client account and among
client accounts represents a conflict of interest for Egerton Capital (US). To address this conflict,
Egerton Capital (US) has adopted and implemented policies and procedures for the allocation of
expenses. If the relevant expense is predominantly for the benefit of Egerton Capital (US), Egerton
Capital (US) allocates the expense to itself, whereas if it is predominantly for the benefit of one of
more client accounts Egerton Capital (US) allocates the expense to the relevant client account(s).
When allocating expenses between more than one client account, Egerton Capital (US) follows a
relative value approach pursuant to which Egerton Capital (US) allocates expenses of equal value
equally between the relevant client accounts and allocates expenses of unequal value based on the
perceived relative value to each client account. For client accounts which are funds forming part of
master-feeder structures, expenses are allocated to the relevant master fund (and thereby incurred
indirectly by each feeder fund, pro rata) unless the expense is not of equal value to all feeder funds, in
which case it is allocated directly to the feeder funds based on the relative value to each feeder.

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ITEM 7. TYPES OF CLIENTS
Egerton Capital (US) acts as the delegate investment manager to a related person (its parent entity),
Egerton Capital (UK) and provides sub-advisory services on a fully discretionary basis in relation to
Egerton Capital (UK)’s clients, which include pooled investment vehicles intended for institutional
investors and other sophisticated investors.

With respect to any client that is a pooled investment vehicle, any initial and additional subscription
minimums are disclosed in the offering memorandum for the pooled investment vehicle.

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