GAM Systematic LLP

ITEM 5 – FEES AND COMPENSATION

The fees for GAMS’s services are typically based on a percentage of the net assets under
management. Different fee structures may be negotiated under certain circumstances. In some cases,
performance fees may be charged in accordance with Rule 205-3 under the Advisers Act. Generally,
GAMS’s fees will be payable monthly in arrears.

The basic management fee schedule for GAMS Funds ranges from 0.40% to 1.5% of net assets per
annum, depending on the applicable GAMS Fund or class of interests/shares in which an investor
subscribes.

Certain GAMS Funds are subject to performance-based compensation in the form of a performance
allocation or performance fee, ranging from 10% to 20% of net profits per annum, depending on the
applicable GAMS Fund or class of interests/shares in which an investor subscribes, subject to a high-
water mark or loss recovery provision and other variables.

In each instance, such fees are payable to GAMS or an affiliate (such as the general partner of the
GAMS Fund, as applicable). The exact fee rates and related details are disclosed in the prospectus,
private placement memorandum and/or other applicable Governing Materials for the relevant fund.
The management and performance fees are exclusive of all investment costs, including brokerage
commissions, transaction fees, custodian fees and other fees and taxes on brokerage accounts and
securities transactions. Investments in GAMS Funds will also be subject to the investment and
operating expenses incurred by those funds, which may include management fees, administrative
fees, directors’ fees, and legal, tax and audit fees and expenses as set out in the relevant fund
prospectus. Investors considering investing in a particular fund should request and review the
Governing Materials for the relevant fund for more detailed information about the fees and expenses
to be incurred by the fund.

The fees for institutional separate accounts are negotiated and vary based upon a variety of factors,
including the type of client, investment amount, the circumstances of the client, additional or differing
levels of servicing, or as otherwise agreed with a specific client. The specific manner in which fees are
charged for a managed account is established in a written agreement between the client and GAMS.
Investment advisory agreements entered into by GAMS generally will be terminable by the client upon
thirty (30) days’ prior written notice. If the agreement is cancelled other than at the end of a month, the
fee for that month will be prorated based upon the number of days during the quarter that GAMS’s
services were rendered to the client.

Item 12 describes the factors that GAMS considers in selecting or recommending broker- dealers to
execute client transactions.

ITEM 7 – TYPES OF CLIENTS

GAMS provides investment management services to a range of pooled investment vehicles, including
the GAMS Funds. GAMS may (and does) also sub-advise a Registered Investment Company.
Additionally, GAMS may establish (and has established) separately managed accounts for
institutional investors.

In general, U.S. investors must qualify as both “accredited investors” as defined in Rule 501(a) of
Regulation D under the Securities Act and “qualified purchasers” as defined in Section 2(a)(51) under
the Investment Company Act, and/or “qualified eligible persons” under Rule 4.7 of the Commodity
Exchange Act and meet other applicable suitability requirements. Generally, investors must invest a
minimum dollar amount, as set forth in the applicable Governing Materials (which may be waived,
modified or negotiated at GAMS’s sole discretion).