Gradient Ridge Capital LP

Item 5: Fees and Compensation

Advisory Fees and Compensation

Gradient Ridge will be paid a management fee, payable in advance of each quarterly period, as
compensation for the services to be performed by the Firm (the “Management Fee”).
Unless otherwise determined by the General Partner, the Management Fee will be calculated
at the Onshore Fund and Offshore Fund level on an interest-by-interest and class-by-class
basis, and charged at the Master Fund level to the corresponding sub-capital accounts
attributable to each underlying Investor. The Management Fee ranges between 0.% to 1.5% on
an annualized basis, depending on the class of interests or shares. Each class of interests has
different terms and rights, and the General Partner has discretion to establish additional share
classes. The Management Fee will be equal to a percentage on an annualized basis of the net
asset value of the interests or shares, as applicable, and will be determined as of the beginning
of each quarterly period before taking into account any accrued incentive allocation.

The Management Fee will be prorated and payable as of a subscription date for any capital
contribution by an Investor that is effective other than as of the first day of a fiscal quarter. In
the event of a withdrawal by an Investor other than as of the last day of a fiscal quarter,
Gradient Ridge will return to the Master Fund, and the Master Fund will pay to the Fund, for
payment to, or credit to the capital account of, the withdrawing Investor, an amount equal to
the pro rata portion of the Management Fee, based on the actual number of days remaining in
the fiscal quarter.

The Management Fee for the Third-Party Vehicles are individually negotiated with the fees
charged to the Third-Party Vehicles calculated on assets under management on a notional
basis, billed monthly in arrears, in accordance with the terms and conditions outlined in the
Portfolio Management Agreement.

Gradient Ridge may reduce, waive, assign, participate or otherwise share or modify the
Management Fee payable with respect to any Investor (including the General Partner and any
affiliates of the General Partner or Gradient Ridge) without the consent of or notice to any
Investor. However, such Investors and/or affiliated persons will be responsible for their pro-
rata share of expenses. The General Partner and/or Gradient Ridge, as applicable, shall have
the authority to alter or change the manner and method of calculating and/or paying the
Management Fees for the purpose of ease of administration, including, without limitation,
charging such Management Fees at the Master Fund Level. Investors may request a redemption
from a Fund upon 65 days’ written notice. Withdrawals from the Funds are generally allowed

Gradient Ridge Capital, L.P.                                                  Form ADV Part 2A

on the last business day of each calendar quarter. The General Partner, in its sole discretion,
may waive or modify the management fee or redemption terms.

The General Partner receives annual incentive-based allocations (“Incentive Fee”) from each
investor in the Funds, depending on the series investors are invested in, ranging from 20% to
25%, subject to a high-water mark.

Gradient Ridge receives an annual performance fee (“Performance Fee”) individually
negotiated based on new net profits and subject to a loss-carry forward, with adjustments
made for fees and expenses, calculated based on a calendar year from the Third-Party Vehicles
pursuant to the Portfolio Management Agreement.

Payment of Fees

Gradient Ridge deducts fees and compensation paid by the Funds directly from the assets of
such Funds.

For the Third-Party Vehicles, Gradient Ridge will provide a monthly report detailing the
Management Fee calculation.

Additional Compensation

Neither Gradient Ridge, nor any of its supervised persons, accepts compensation (e.g.,
brokerage commissions) for the sale of securities or other investment products.

Expenses

Fund Expenses
The Onshore Fund and Offshore Fund each will bear all of its organizational expenses and
offering expenses and its pro rata share of the organizational and offering expenses of the
Master Fund and will reimburse the General Partner, Gradient Ridge and/or the Principals, as
applicable, to the extent that any of them bears organizational or offering expenses on behalf
of the Funds. Each of the Funds may amortize such organizational expenses and offering
expenses for accounting purposes over a period of sixty (60) months from the date the Funds,
as applicable, commences operations, or such other period of time as determined by General
Partner or Gradient Ridge, as applicable, in its sole and absolute discretion. In the event that
the Fund, as applicable, is wound up before such expenses are fully amortized, the unamortized
portion of such expenses will be accelerated and debited against the Funds’ assets, as
applicable, at such time. In addition, in general, each of the Onshore Fund and Offshore Fund
will bear all of its operating expenses and its pro rata share of the operating expenses of the
Master Fund, which expenses will include, without limitation: (a) organizational and offering
expenses; (b) expenses associated with all investments and transactions considered, evaluated
and/or consummated by the such Fund, the Master Fund or any such trading vehicle, as
applicable, including, but not limited to, expenses associated with sourcing, negotiating,
investigating, researching, financing and structuring of investments and potential investments,
whether or not consummated, including data and research on-boarding, ingestion, aggregation,
and analysis, third-party research, data, analytics, modeling, risk, structuring, pricing, execution
and other third-party information, technology, hardware, software or other technology
systems, including installation and maintenance, software and service fees (including the
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Item 7: Types of Clients

Gradient Ridge provides portfolio advisory and management services to pooled investment
vehicles and Third-Party Vehicles as described in Item 4 above.