GSI Capital Advisors LLC

ITEM 5. FEES & COMPENSATION

How We Are Compensated for Our Advisory Services

Investment Supervisory and Management Services:

Compensation is derived as both fee income based upon the percentage of assets under management
(“Management Fee”) and, on some occasions, a Performance based fee.

The compensation method is explained and agreed to with the clients in advance before any services are
rendered. We generally charge a Management Fee, expressed as an annual percentage, but payable
monthly or quarterly, based on the market value of a client’s account. Investment advisory services begin
with the effective date of the client agreement, which is the date the client signs the Investment Advisory
Agreement or the investor signs the Subscription Agreement. Additional contributions and withdrawals
will cause an adjustment in the amount of Management Fee charged for the period.

We reserve the right to adjust the fee schedule for accounts depending on the size and type of account
and the services required. In some cases, negotiation of fees may result in different fees being charged
for similar services and may be less than the stated fee schedule.

Payment terms on investment management fees vary based on the type of account. Management fees
may be payable monthly or quarterly, in advance or in arrears, as outlined in a client’s separate account
investment advisory agreement or in our private fund offering documents. If you wish to terminate our
services, you need to contact us in writing and submit your request per the terms of the investment
advisory agreement. Upon receipt of your letter of termination, we will proceed to close out your account
and charge you a pro-rata advisory fee(s) for services rendered up to the point of termination.

Other Fees:

In addition to our fees, clients will sometimes bear the fees and expenses charged by third parties. Those
fees will vary, but typically they include custodial, fund administration and transaction costs paid to
custodians, brokers or any other third parties.

Commissionable Securities Sales

GSI Capital does not sell securities for a commission.

 Please note that our method for computing the amount of “client assets we manage” can be different from the method for computing “assets
under management” required for Item 5.F in Part 1A of Form ADV. However, we have chosen to follow the method outlined for Item 5.F in Part
1A of Form ADV. If we decide to use a different method at a later date to compute “client assets we manage,” we must keep documentation
describing the method we use and inform you of the change. The amount of assets we manage may be disclosed by rounding to the nearest
$100,000. Our “as of” date must not be more than three months before the date we last updated our Brochure in response to Item 4.E of Form
ADV Part 2A.

ADV Part 2A – Firm Brochure                                    Page 5                                          GSI Capital Advisors LLC

ITEM 7. TYPES OF CLIENTS & ACCOUNT REQUIREMENTS

We provide investment management, advisory, and sub-advisory services for the following type(s) of
clients:
     Pension and Profit Sharing Plans;
     Bank and Thrift Institutions;
     Corporations or other businesses;
     Foundations, Endowments and charitable institutions;
     Registered investment companies.

Account minimums will vary depending on the strategy of a given account. Generally, the minimum
commitment for separate accounts is $20 million. We retain the option of waiving account minimums at
our sole discretion.