Global Delta Capital LLC

ITEM 5 – FEES AND COMPENSATION

Management Fee. As compensation for the investment management of the Partnership, the Partnership will
pay the Adviser quarterly management fees, in advance, equal to: (a) with respect to each Founders Class
Limited Partner, one-fourth (1/4) of sixty basis points (0.60%) of such Limited Partner’s Capital Account, and
(b) with respect to each Class A Limited Partner, one-fourth (1/4) of seventy basis points (0.80%) of such
Limited Partner’s Capital Account.

The management fee will be prorated in the event that additional Capital Contributions are made on a date other
than the start of a calendar quarter or if the Partnership ends on a date other than the last day of a calendar
quarter. The Adviser may elect to waive or rebate the management fee in whole or in part for any Partner, in
which case the total management fee will be reduced and the expense of the management fee will be specially
allocated to those Limited Partners subject to the fee in a manner which reflects the waivers. The Adviser
expects to waive the management fee for employees and affiliates of the General Partner, and the General
Partner is not subject to a management fee on its Capital Account.

Expenses. The Adviser renders its services to the Partnership at its own expense and is responsible for its
overhead expenses including office rent, furniture and fixtures, stationery, secretarial/internal administrative
services, salaries and bonuses, entertainment expenses, employee insurance and payroll taxes.

All other expenses will be paid by the Partnership and shall include, but are not limited to: the management
fee payable to the Adviser; Organizational Expenses (as defined below); expenses for legal services rendered
to or for the benefit of the Partnership; fees and expenses of third parties for custodial, administration,
bookkeeping and recordkeeping services; audit, tax preparation and accounting expenses (including third-
party accounting services and accounting software); execution and order management system fees and
expenses; pricing service fees; portfolio valuation expenses (including data feeds and third-party valuation
agents); investment expenses such as commissions and research fees and expenses (including Bloomberg and
similar subscriptions and data services and research-related travel expenses (including meals and lodging);
bank service fees; risk management expenses (including software licensing and consultants’ fees); taxes, fees,
assessments and all other governmental charges levied or assessed against the Partnership; expenses of
Partnership-related regulatory compliance (including compliance with AIFMD); Partnership-related
regulatory filings and reporting (including but not limited to Section 13, Section 16 and Form PF filings);
fees, costs and expenses incurred in connection with any audit, examination, investigation or other proceeding
by any taxing authority or incurred in connection with any governmental inquiry, investigation or proceeding
relating the Partnership; expenses of providing reports and other information to, or holding meetings of,
Limited Partners, the cost of insurance coverage associated with the operation of the Partnership, including
the reasonable premiums of liability insurance; all extraordinary expenses; expenses associated with the
offering of the Interests; organizational expenses to establish a master, feeder or parallel fund or similar
vehicle in connection with any restructuring of the Partnership.; indemnification expenses; and all other
liabilities and expenses, including without limitation judgments, fines, penalties, amounts paid in settlement,
attorneys’ fees, and costs of investigation, incurred by or on behalf of the Partnership in connection with the
conduct of the activities of the Partnership or the defense or disposition of any claim, action, suit or proceeding,
whether civil, criminal, administrative or investigative, arising in connection with the conduct of such
activities.

The organizational expenses of the Partnership, whether incurred directly by, or for or on behalf of, the
Partnership, the General Partner or the Adviser in connection with the establishment and launch of the
Partnership and the initial offering of Interests (“Organization Expenses”), will be paid by the Partnership.
Organization Expenses include (i) fees and disbursements of legal counsel to the Partnership, the General
Partner and the Adviser, (ii) fees and expenses paid to third parties related to the organization of the
Partnership and the General Partner, (iii) accountant fees and other fees for professional services rendered to or

for the benefit of the Partnership, (iv) fees incurred by or on behalf of the Partnership or relating to the
Partnership for regulatory filings, and (v) reasonable travel costs and other reasonable out-of-pocket
expenses incurred by or on behalf of the Partnership, the General Partner and the Adviser.

Organization Expenses may be amortized over sixty (60) months in the discretion of the General Partner.
Such amortization is a departure from United States generally accepted accounting principles and, as a result,
the Partnership’s auditor could provide a qualified opinion or the Partnership’s net asset value might be
adjusted to expense any amortized amounts for financial statement purposes. In order to give effect to such
amortization, the Adviser may front the organizational costs and charge them to the Partnership ratably over
the 5-year period or use another methodology reasonably designed to achieve the same effect.

The Adviser may cause the Partnership to pay brokerage commissions which may be in excess of the lowest
rates available to brokers who execute transactions for the account of the Partnership or who otherwise
provide brokerage and research services utilized by the Adviser. However, the Adviser must first determine in
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ITEM 7 – TYPES OF CLIENTS

The Adviser provides discretionary investment advice to the Partner, as described in Item 4, above. The
Partnership is open only to Limited Partners meeting specified financial sophistication requirements. In
addition, the Partnership requires a minimum initial purchase requirement, subject to modification by the
General Partner.