Galileo Investment Management LLC

ITEM 5. FEES AND COMPENSATION

Management Fees

Our funds pay us management fees in exchange for our investment management services, which are set
forth in their respective organizational documents. In general, management fees are equal to an annual rate
of 1% of the net asset value of a fund’s outstanding interests. Management fees are calculated monthly
(1/12 of 1% each month) and payable in advance as of the beginning of each month. Fees are deducted
from clients’ assets. As a practical matter, management fees are paid to Galileo Investment Management
(Canada) LP by the Galileo Total Return Master Fund, which in turn, charges each feeder fund. Galileo
Investment Management (Canada) LP pays fees to Galileo Investment Management LLC pursuant to the
terms of sub-adviser agreements. Management fees paid by the Galileo Investment Fund, which includes
the Galileo Enhanced Opportunities Sub-Fund, are paid to Galileo Lux GP S.à.r.l., which in turn pays a
portion of these management fees to Galileo Investment Management LLC or Galileo Investment
Management (Canada) LP. pursuant to the terms of sub-adviser agreements. The management fees paid to
Galileo Lux GP S.à.r.l. are generally equal to an annual rate of 1% of the net asset value of the Galileo
Investment Fund. These management fees are calculated and paid monthly (1/12 of 1% each month).

Galileo Investment Management LLC, Galileo Investment Management (Canada) LP, and Galileo Lux GP S.à.r.l.
Form ADV Part 2A

Management fees paid by the Galileo Enhanced Opportunities Master Fund are paid on its net asset value
excluding the net asset value corresponding to the Galileo Enhanced Opportunities Feeder Fund and are
paid to Galileo Investment Management, LLC. These management fees are calculated and paid monthly
(1/12 of 1% each month). There is no duplication of management fees within the Galileo Total Return
Funds nor the Galileo Enhanced Opportunities Funds. Management fees paid by the Galileo Co-Investment
Funds are paid on their net asset value to Galileo Investment Management, LLC. T hese management fees
are calculated and paid monthly (1/12 of 1% each month). Fees are deducted from clients’ assets.

If the advisory contract is terminated before the end of a billing period, Galileo Investment Management
will provide a pro-rated refund of pre-paid management fees paid for the remaining portion of the billing
period.

Reimbursed Expenses

In general, each fund is responsible for paying its own expenses. In the event that Galileo incurs any
expenses on behalf of a fund such expenses would be reimbursed. These expenses are billed to the funds
as necessary. Generally, each fund pays all costs and expenses relating to its operations, including but not
limited to: operational and compliance support fees and expenses, investment expenses (including custodial
costs, brokerage costs, interest charges and other costs associated with subscribing for, holding and
redeeming interests in underlying fund), fees of any service provider to the fund (including, administration,
legal, research expenses, accounting and auditing fees) as well as all filing costs and fees; all of the legal
and other out-of-pocket expenses incurred in connection with the organization of the funds, which are
amortized over a period of 60 months; and extraordinary expenses it may incur, including any litigation and
other legal expenses. Additional fees and expenses for which a fund may be responsible are described in
the organizational documents. For more information on brokerage and other transaction costs, please see
Item 12 of this Brochure.

Additional Compensation

Neither Galileo Investment Management nor any of our “supervised persons” accept compensation for the
sale of securities or other investment products.

ITEM 7. TYPES OF CLIENTS

Our funds are pooled investment vehicles, which not registered under the Securities Act of 1933, as
amended, (the “Securities Act”) or the Investment Company Act of 1940, as amended, (the “Investment
Company Act”), pursuant to either Section 3(c)(1) or Section 3(c)(7) of the Investment Company Act. The
investors in our funds consist of high net worth individuals, family trusts and investment companies, and
financial institutions acting as nominees. We require that each investor in a fund be an “accredited investor”
as defined in Regulation D of the Securities Act, and a “qualified purchaser”, within the meaning of Section
2(a)(51)(A) of the Investment Company Act. We generally require that that each investor in a fund that is
a U.S. resident be a “qualified client” within the meaning of Rule 205-3 of the Advisers Act. Investors in
the Galileo Investment Fund are also required to be “well-informed investors” within the meaning of article
2 of the Luxembourg Law of February 13, 2007, relating to specialized investment funds.

Investors are generally required to commit at least $500,000 to invest in our funds, subject to the right of
the fund’s general partner or managing member to waive the minimum investment amount.