Golden Eagle Strategies LLC

Item 5: Fees and Compensation

The fees applicable to each of the Funds are set forth in detail in the corresponding Offering Documents.
A brief summary of such fees is provided below.

Management Fee

Funds

Golden Eagle is paid an investment management fee (“Management Fee”) from the Master Fund,
which is payable monthly, in arrears, in an amount equal to:

(i) 1/12 of 1.5% of the net asset value attributable to the Sub-Account of each Class B Limited Partner
as of the last day of each calendar month (1.5% per annum), and

(ii) 1/12 of 1.0% of the net asset value attributable to the Sub-Account of each Class C Limited Partner,
Class D Limited Partner and Class E Limited Partner as of the last day of each calendar month (1.0%
per annum).

Class A Limited Partners are not subject to the Management Fee.

The Management Fee is prorated for partial periods. The Management Fee is due as of the last Business
Day of each calendar month end and is payable by the Master Fund within ten (10) business days
thereafter.

The Firm, in its sole discretion, may waive or modify the Management Fee for any Investor.

ETF

For its services with respect to the Fund, the Firm is entitled to receive an annual management fee
0.85%, calculated daily and payable monthly as a percentage of the Fund’s average daily net assets.

Incentive Allocation

Each Investor is subject to an “Incentive Allocation” at the Master Fund level in an aggregate amount
equal to approximately 10-20% of the Aggregate Net Increase with respect to each Investor’s Sub-
Accounts. The Incentive Allocation amount will be based on each Investor’s share class. Class A
Limited Partners are not subject to the Incentive Allocations.

The General Partner reserves the right to waive, reduce or calculate differently the Incentive Allocation
with respect to any Investor, including, without limitation, the affiliates, members and/or employees of
the General Partner or the Firms, members of the immediate families of such persons, and trusts or other
entities for their benefit.

Other Types of Fees or Expenses

Private Funds

Organizational Expenses

The Firm has incurred and will incur certain organizational costs, some or all of which have been, and
may in the future be, advanced by the General Partner, the Funds, the Firm and/or their affiliates and
are therefore subject to reimbursement. The Firm will treat its organizational costs and expenses in
accordance with the U.S. Generally Accepted Accounting Principles (“GAAP”), although the General
Partner may elect to modify the treatment of such costs and expenses to accommodate the practical
needs of the Firm, including, without limitation, by amortizing such organizational costs and expenses
as of such date as determined by the General Partner over a period of sixty (60) months. To the extent
amortization results in a qualified audit opinion, the General Partner may elect to expense such costs as
incurred. In the event the Funds amortizes such expenses and terminates its operations before such
expenses are fully amortized, the unamortized portion of such fees shall be accelerated and will be
debited against the Partnership’s Net Asset Value, thereby decreasing amounts otherwise available for
distribution to Investors.

Subscription Fees

Any fees or duties incurred by the Funds in processing an investor’s application for Interests may either
be deducted from the investor’s subscription proceeds, in which case the subscription proceeds net of
the subscription charges shall be allocated to the investor’s Capital Account, or the subscription charges
may be charged in addition to the amount being subscribed.

Administration Fee

The Firm pays the Administrator fees paid out of the Funds’ assets, in accordance with the
Administrator’s standard schedules for providing similar services. This fee is comprised to be the
greater of a fixed, monthly minimum fee or a fee based on the Net Asset Value of the Funds and a series
of fixed fees based on services provided.

Auditor Fees

The auditors receive reasonable and customary fees agreed on a commercial arms-length basis at market
rates, which fees are paid out of the assets of the Funds.

Prime Brokerage and Custody Fees

Each of BTIG LLC, GS & Co and Pershing are compensated by the Funds through interest on credit
balances, margin borrowings, stock loans and brokerage commissions. Certain prime brokers may
charge the Funds for custody if the Fund does not meet minimum revenue requirements with the prime
broker.

ETF

Additional Fees and Expenses

The Firm assumes and pays, at its own expense and without reimbursement from the ETF, all ordinary
expenses of the ETF, except the fee paid to the Firm, distribution fees or expenses under a Rule 12b-1
plan (if any), interest expenses, taxes, acquired ETF fees and expenses, brokerage commissions and any
other portfolio transaction related expenses and fees arising out of transactions effected on behalf of the
ETF, credit facility fees and expenses, including interest expenses, and litigation and indemnification
expenses and other extraordinary expenses not incurred in the ordinary course of the ETF’s business.

ETF Administrator Fees

The ETF’s Administrator receives an asset-based fee computed daily and paid monthly on the average
daily net assets of the Fund, subject to a minimum fee plus out-of-pocket expenses.

Sub-adviser’s Fees and Expenses

Pursuant to an Investment Sub-Advisory Agreement between the Firm and the ETF’s sub-adviser (the
“Sub-Advisory Agreement”), the sub-adviser is responsible for trading portfolio securities for the
ETF, including selecting broker-dealers to execute purchase and sale transactions, subject to the
supervision of the Firm and the ETF’s Board of Trustees. For the services it provides for the ETF, the
sub-adviser is compensated by the Firm from the management fees paid by the ETF to the Firm. The
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Item 7: Types of Clients

Our Clients are the Funds as described in Item 4 above. The Funds are open to Accredited Investors as
defined in in Rule 501 of Regulation D of the Securities Act.

Golden Eagle serves as an investment adviser to its proprietary open-end investment company, of which
is registered under the Company Act. Further details on the Firm’s open-end investment company can
be found in the ETF’s prospectus and in the relevant disclosure documents and registration statements.

Golden Eagle may, in the future, provide investment advisory services to other types of clients. The
investment programs of the Funds and any additional clients may or may not overlap.