Evolutionary Tree Capital Management LLC

Item 5: Fees and Compensation

Evolutionary Tree charges each separately managed account client a management fee calculated as a
percentage of the client’s assets under management. Currently, while the Firm offers advisory services
to both institutional and private clients, we offer one investment strategy to retail private individual
clients. The fees for that strategy are set forth below. We have structured our fees so that the overall
blended management fee rate declines as a client’s assets under management increase. We have two
separate fee schedules, one for institutional clients and another for private individual clients, which
we outline in the following table:

Evolutionary Tree Capital Management, LLC                                     Form ADV Part 2A

                                      Institutional Fee Schedule
                       Account Value                  Annual Management Fee Rate*
                      First $25 million                         0.70%
                      Next $25 million                          0.60%
                   Amounts over $50 million                     0.50%
                                      Private Client Fee Schedule
                       Account Value               Annual Management Fee Rate*
                       First $5 million                        0.95%
                      Next $20 million                         0.80%
                      Next $25 million                         0.60%
                   Amounts over $50 million                    0.50%
                     *Stated at an annual rate of assets under management.

The management fee and minimum account size for private clients are generally non-negotiable but
may be subject to adjustment at the Firm’s sole discretion. Fees for larger institutional clients may be
subject to negotiation.

Additional strategies are available to institutional clients and the fees for those strategies are
negotiable.

The first payment of the management fee is due at the end of the first calendar quarter in which
Evolutionary Tree assumes management of the account and is based on the initial funding value of
the assets in the account. For non-quarter end start dates, the first payment of the management fee
is calculated on a pro rata basis. For each succeeding calendar quarter, the management fee is payable
in advance at the beginning of each calendar quarter and is based on the value of the assets in the
account as of the last business day of the previous calendar quarter, generally without taking into
consideration contributions and withdrawals during the quarter. The Firm deducts the management
fee from client accounts on a quarterly basis by instructing the client’s custodian. Evolutionary Tree
will refund any unearned management fees on a pro rata basis in the event of termination of an
account. Evolutionary Tree does not require or solicit prepayment of more than $500 in fees per client,
six months or more in advance.

The Firm is also paid a tiered fee for providing advisory-only services. The firm does not have authority
to trade, nor does it arrange or effectuate transactions for the client in these relationships. The fee
for this service is generally lower than fees for directly managed accounts.

In addition to paying management fees, client accounts are also subject to other investment expenses
such as custodial charges, brokerage fees, 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
associated with products or services that may be necessary or incidental to such investments or
accounts. Please refer to Item 12 of this Brochure for a discussion of the Firm’s brokerage practices.

Evolutionary Tree Capital Management, LLC                                    Form ADV Part 2A

Item 7: Types of Clients

Evolutionary Tree offers advisory services to individuals, family offices, estates, and trusts; pension,
retirement, and profit-sharing plans; charitable organizations, foundations, or other non-profit
organizations; and state and municipal government entities and pension plans.

The Firm has a stated minimum of $1 million to open a separately managed private client account,
however the account minimum is subject to negotiation. Minimums to open institutional accounts
may be higher than $1 million and are also subject to negotiation. The Firm, at its discretion, may
combine the value of accounts associated with a specific client relationship in calculating the total
account value for purposes of the account minimum.