EJF Capital LP

Item 5 – Fees and Compensation

The fees and compensation applicable to each Client is set forth in detail in each Client’s offering
documents or investment management agreement, as amended from time to time. A brief
summary of such fees is provided below. Clients generally pay an asset-based management fee in
connection with EJF’s advisory services. Clients may also pay performance-based compensation,
generally at the end of each calendar year or at the termination of a Fund’s term, based on a
percentage of the increase in the value of each Client’s investment, subject to certain limitations
and discounts. On occasion, certain Clients will pay fees to EJF for investments where other
Clients will pay lesser or no fees for the same or substantially similar investments.

Funds

As the investment adviser responsible for managing the Funds, EJF charges a maximum
management fee of 2% based on AUM, and a maximum performance-based compensation of
57.5% of the Funds’ profits, or 25% of the Funds’ profits over a stated preferred rate of return.
EJF could agree to charge certain Funds or certain Funds’ investors lower management fees and
performance-based compensation, even if the assets are managed in a similar investment style.
EJF may also decide to waive all or a portion of the Firm’s negotiated fees for a given period or
for a particular Client or investors. For example, EJF may decide to negotiate its management fee
because of the timing of an investor’s subscription to a Fund, the amount of investor’s assets within
the portfolio, or other relationship to the Firm. Certain Clients are invested in Funds managed by
EJF, in which case those Clients will be placed in a non-fee paying class of the Funds in which
they are invested (certain EJF employees are in a non-fee paying class).

Certain Funds calculate and pay management fees to EJF monthly in arrears, and several Funds
calculate management fees on a quarterly basis in arrears. A small number of funds calculate and
pay management fees to EJF in advance. In addition, EJF manages several Funds that are closed

to new investors and do not pay any management fees. Certain investors in the Funds have special
management fee arrangements that are described in the Funds’ offering documents.

In the case where management fees to EJF are advanced and the advisory contract with EJF is
terminated before the end of the billing period, investors will receive a prorated refund from the
Fund. Investors can request the refund by written notice to the Fund requesting a prorated refund.

Certain Funds that are open to new investors calculate and pay performance-based fees at the end
of the Fund’s fiscal year and several Funds calculate and pay performance-based fees at the
dissolution of the Fund. These fees may be subject to preferred return hurdles, catch-up allocations
and/or claw-backs, depending, among other things, on the strategy of the Fund.

Funds - Deduction of Management Fees

Management fees for all Funds are deducted either monthly, quarterly, or semi-annually from each
Fund’s portfolio. Management fees are first segregated into an escrow account by EJF personnel
pursuant to EJF’s written money transfer policies and procedures. Management fees remain in the
escrow account until the Fund’s administrator verifies the amounts. After the administrator
verifies the management fee amounts, the administrator moves the assets to an EJF bank account.

Funds - Transaction/Trading Costs

Broker-dealers executing Client trades generally charge a brokerage commission on equity
securities and a markup or markdown on fixed income securities. For example, fixed income
securities trade at a bid/ask spread and have no explicit brokerage expense. Although there is no
brokerage commission charged on fixed income securities transactions, the Funds will incur the
implicit trading cost reflected in the broker/dealer spreads. For additional information regarding
the Firm’s trading practices, see Item 12, Brokerage Practices. Securities transaction costs are paid
by the Client, not EJF. In addition to transaction costs, certain Funds also pay expenses that include
but are not limited to: organization costs, modeling expenses, custodian fees, legal and audit
expenses, taxes, pricing services, and administrative fees. Additional information regarding
transaction costs is located in Item 12, Brokerage Practices.

Funds - Other Fees or Expenses Charged to the Funds

To the extent permitted under the applicable offering documents, as amended from time to time,
Funds advised or sub-advised by EJF bear all of their operating expenses, including but not limited
to some or all of the following expenses directly or indirectly: (i) fees or expenses associated with
structured products or other securities in which the Funds invest, such as management fees
associated with collateralized debt obligations, exchange-traded funds, money market mutual
funds, or other securities, and, in the case of transactions that are not consummated, broken deal

expenses; (ii) investment expenses (e.g., expenses that the Fund determines to be related to the
investment of the assets of the Fund, including, among others, all expenses relating to identifying,
monitoring, investigating, researching, purchasing, acquiring, selecting, making, financing,
hedging and disposing of investments, due diligence and research expenses (including market
research), collateral valuation services, referral fees, origination fees, and costs incurred by EJF
principals and employees and third parties in connection with their attendance at conferences
(including all lodging, transportation, meal and entertainment expenses), risk analytical software
for use by the Fund, investment-related data services (including fees, costs and expenses related
to hardware (including Bloomberg terminals), software (including any order management system
...

Item 7 – Types of Clients

In addition to Funds, EJF has SMA clients and Fund investors that include but are not limited to
the following categories: foundations, trusts, estates, IRAs, retirement plans, funds of funds,
endowments, pensions, banks, insurance companies, other business entities, sovereign wealth
funds, high net worth individuals, and family offices. As EJF continues to do business, additional
categories will be included if appropriate.

The minimum investment amount for investors in any of the Funds is between $100,000 and
$1,000,000; with regard to offshore Funds, the minimum investment is mandated by law to be
$100,000. The minimum investment amount to open an SMA is generally $10,000,000, and for
those SMAs in which EJF acts as sub-investment adviser, including, the Wrap Program, the
minimum investment amount is $100,000. EJF and its affiliates reserve the right to waive the
minimum investment amount for investors in the Funds or individuals/entities opening SMAs.