Frontier Investment Management Partners Ltd

ITEM 5 – FEES AND COMPENSATION

Management Fees

For its services to the Funds, FIM Partners generally charges a management fee of 1.0 and 2.0
per cent per annum. For Managed Accounts, the management fee charged by FIM Partners
varies based on the size of the investment.

FIM Partners charges fees in the manner specified in the investment management agreement
with each Client and they are generally calculated as a percentage of the net asset value of
each class of shares. We will generally bill our fees on a quarterly basis. Where fees are billed
in advance, an adjustment is made at the end of each quarter. Clients have third party
Administrators who are responsible for the Client’s fund accounting and transfer agency
services. The Administrator is responsible for payment of investment management fees to FIM
Partners. The Funds will be open for investment on a monthly basis. Management fees that are
paid quarterly are prorated for each investment and withdrawal made during the applicable
quarter (with the exception of de minimis contributions and withdrawals). Accounts initiated or
terminated during a quarter will be charged a prorated fee. Upon termination of any account,
any earned, unpaid fees will be due and payable.

Employees (and family members) of FIM Partners may be exempted from paying management
fees. Also, in certain circumstances, an investor in a Fund may, pursuant to a rebate letter with
FIM Partners, be reimbursed by FIM Partners for a part of the fees paid to the Fund.

FIM Partners reserves the right to waive or modify the fee arrangements of an existing investor
with the consent of such investor. In addition, each Fund reserves the right to impose different
fees for different classes of shares.

The management fees of the Funds are detailed in the relevant Fund’s offering documents.

Other Fees and Expenses

Each Fund will also bear its own operating and other expenses. These expenses may include
(a) the charges and expenses of legal advisers and auditors, (b) brokers’ commissions (c)
government or government agency taxes and corporate fees, (d) research fees and expenses,
(e) directors’ fees and expenses, (f) interest on borrowing, (g) fees and expenses of FIM
Partners for research technology, trading system expenses and risk management software and
consulting attributable to the Fund, and for fundraising for the Fund, (h) communication
expenses with respect to investor services and all expenses of investor meetings and of
preparing, printing and distributing financial and other reports, proxy forms, prospectuses and
similar documents, (j) the cost of insurance premiums (k) litigation and indemnification
expenses (m) taxes and duties and (n) organisational expenses, including in relation to the
provision of a registered office to the Fund.

Frontier Investment Management Partners Ltd.                                          Form ADV Part 2A