EPFC Capital Partners LLC

Item 5. Fees and Compensation

Performance-Based Compensation.

The Adviser is entitled to receive an annual management fee equal to a percentage of the applicable fund’s
net assets, calculated in accordance with applicable fund’s governing documents and an annual
performance-based compensation (the “Performance Fee”) from the Clients, which with respect to certain
clients is partially paid by way of a quarterly draw of up to 30%.

Expenses

In addition to bearing the Performance Fee, certain Clients will be subject to other expenses related to its
investments and operations, including, but not limited to: transaction costs and investment related expenses
incurred in connection with the Client’s trading activities, including commissions, brokerage, research
expenses (excluding research-related travel), clearing, margin interest (if any), custodial expenses and
other indebtedness; borrowing charges on securities sold short; bank service fees; legal, accounting
(including third-party accounting services), auditing, tax preparation, administrator, other professional
services and related fees and expenses; organizational expenses; fees and expenses related to risk-
monitoring (including portfolio analysis application fees and applicable database warehouse fees and
expenses), stock loan and treasury systems and applications; the Client’s allocable share of applicable
insurance premiums; regulatory compliance-related monitoring and filing fees and expenses (including
expenses related to various filings (or portions thereof) that the Investment Manager is required to make as
a result of managing the Client’s portfolio, such as of Form PF and Section 13 and Section 16 filings);
expenses associated with the continued offering of interests, which include but are not limited to printing
and other solicitation expenses (other than finders’ fees); all operational and overhead expenses of the
Client such as photocopying, facsimile, postage, and telephone expenses; extraordinary expenses (e.g.,
litigation and settlement costs, disgorgement payments and indemnification obligations), if any; any other
expenses related to the purchase, sale, preservation or transmittal of Client assets; and any other expenses
reasonably related to the purchase or sale of Client investments. “Research” expenses include, without
limitation, research subscriptions, customized research, conference fees and certain research-related
technology fees and expenses such as Bloomberg license fees, exchange fees, and order management
system fees and expenses.

For those Clients that the Adviser does not charge expenses to, the management company will bear such
Clients’ portion of expenses.

The allocation of expenses by the Adviser between it and the Client represents a conflict of interest for the
Adviser. The Adviser will adopt an expense allocation policy that is designed to address this conflict.

Item 7. Types of Clients

The Adviser’s clients consist of private funds and third party sponsored and managed pooled investment
vehicles.