Global Evolution USA LLC

Item 5 - Fees and Compensation
Description
Global Evolution USA charges base fees per annum ranging from 22 bps to 100 bps depending on factors
including (but not limited to) the complexity or degree of customization of a mandate, firm-wide
capacity in a strategy, the number and extent of strategies included in a multi-strategy product.
Depending on the mandate or Private Fund, the Firm may, but does not currently, charge a performance
fee. For Private Funds, please refer to the relevant private placement memorandum for detailed
information concerning management and performance fees. All fees are negotiable.

Fee Billing
Global Evolution USA bills clients quarterly in arrears.

Other Fees and/or Expenses
For all products, administrative costs of third-party custody and administration are charged to clients in
addition to the management and, if applicable, any performance fee charged by Global Evolution USA.
These expenses could include brokerage commissions and other transaction related costs. For some
clients, the amount of these administrative expenses charged is capped. For additional information
concerning this area, please refer to Item 12 of this Brochure entitled “Brokerage Practices,” for more
information.

Fees include management fees (paid to Global Evolution). Fees for Private Funds are described in detail
in each fund’s private placement memorandum and/or offering materials. Fees are paid directly from
each fund, except for sub-advised funds, in which case, we receive our fee directly from the fund’s
manager or investment adviser. Each fund also pays other transaction or fund-related expenses out of
each respective fund. The expenses include operational expenses, investment related expenses, such as
trading costs and clearing expenses, software expenses, filing expenses, administrative and legal
expenses and accounting and tax expenses. Currently, expenses for the Private Funds are capped at
12bps.

As detailed in the Private Fund offering documents, currently the Private Funds do not require a
minimum period of investment and there are no redemption fees for early redemption. Please see
relevant private placement memoranda (PPM) for more information about management and
performance fees, minimum investment periods, and minimum subscription amounts.

Fees Paid in Advance
Global Evolution does not bill clients in advance.

Item 7 - Types of Clients
Description
Global Evolution USA provides investment advisory services to U.S. registered investment companies,
separately managed accounts and Private Funds. Global Evolution USA also seeks to provide investment
advisory services to other institutional investors including but not limited to public and private pension
funds, sovereign wealth funds, “Taft-Hartley” plans, endowments, foundations, collective investment
trusts and family offices.

Account Minimums
The minimum account size for a separately managed account is $100 million; however, exceptions are
be made on a case-by-case basis. Minimums for each Private Fund are more fully described in each
fund’s private placement memorandum.