Epsilon Asset Management LLC

ITEM 5 .      FEES AND COMPENSATION

A.    Describe how you are compensated for your advisory services. Provide your fee
schedule. Disclose whether the fees are negotiable.

Epsilon is compensated for its advisory services on a range of fees that are product and strategy
dependent, typically between an annual rate of 0.75% and 1.0% of each Client’s average daily net
assets.

B.       Describe whether you deduct fees from clients’ assets or bill clients for fees incurred.
If clients may select either method, disclose this fact. Explain how often you bill clients or
deduct your fees.

Epsilon either deduct management fees from each Client’s account or invoices the Client on a
monthly or quarterly basis, as further disclosed in each Client’s Offering Documents.

C.     Describe any other types of fees or expenses clients may pay in connection with your
advisory services, such as custodian fees or mutual fund expenses. Disclose that clients will
incur brokerage and other transaction costs, and direct clients to the section(s) of your
brochure that discuss brokerage.

Epsilon is responsible for its own administrative expenses, including, but not limited to, office
space, telephone and salaries of personnel.

D.     If your clients either may or must pay your fees in advance, disclose this fact. Explain
how a client may obtain a refund of a pre-paid fee if the advisory contract is terminated
before the end of the billing period. Explain how you will determine the amount of the
refund.

Separately managed accounts pay fees monthly or quarterly in arrears.

E.      If you or any of your supervised persons accepts compensation for the sale of securities
or other investment products, including asset-based sales charges or service fees from the
sale of mutual funds, disclose this fact and respond to Items 5.E.1, 5.E.2, 5.E.3 and 5.E.4.

Neither Epsilon nor any of its supervised persons accept compensation for the sale of securities
or other investment products.

ITEM 7.       TYPES OF CLIENTS

Describe the types of clients to whom you generally provide investment advice, such as
individuals, trusts, investment companies, or pension plans. If you have any requirements
for opening or maintaining an account, such as a minimum account size, disclose the
requirements.

Generally, Epsilon provides investment advisory services to high-net-worth individuals, pooled
investment vehicles, internal capital accounts, and friends and family accounts. Each investor is
required to meet certain suitability requirements.