Harraden Circle Investments 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

Harraden Circle is paid an investment management fee (“Management Fee”) per annum of
the net asset value of the Funds.

The standard Management Fee ranges from 1.00%-1.50% per annum.

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

Other Types of Fees or Expenses

Harraden Circle is authorized to incur and pay in the name and on behalf of the Funds all
expenses which they deem necessary or advisable.

The Firm is responsible for and shall pay, or cause to be paid, all of their own ordinary
administrative and overhead expenses, including, without limitation, all costs and expenses
related to rent, furniture, fixtures, equipment, office supplies, clerical expenses and all salaries,
bonuses and benefits paid to, or on behalf of, personnel of the Firm.

The Funds bear all other expenses, which include, without limitation, the following expenses
incurred by or allocable to the Funds: (a) organizational and offering expenses; (b) expenses
associated with all investments and transactions considered, evaluated and/or consummated
by the Funds, including, without limitation, those expenses incurred before the initial closing
of the Funds, including, without limitation, expenses associated with sourcing, negotiating,
investigating, researching, financing and structuring of investments and potential investments,
whether or not consummated, including, without limitation, third-party research, data,
analytics, modeling, structuring, pricing, execution and other third-party information systems,
software and service fees (including, without limitation, the expenses with respect to data
feeds, subscriptions, expert networks, political intelligence providers, and reports); (c)
research-related computer hardware and software expenses, including, without limitation,
Bloomberg terminals; (d) the Funds’ pro rata share of the Firm’s order management system,
portfolio management system and any other software used for accounting and/or monitoring
of the portfolio; (e) expenses associated with holding, financing, monitoring, hedging,
maintaining and disposing of all investments of the Funds and all transaction and other costs
associated therewith; (f) travel and related expenses associated with investments and potential
investments; (g) professional fees associated with investments and potential investments,
including, without limitation, consulting, due diligence, accounting, valuation, financial, legal,
and other advisory fees and expenses; (h) transaction fees, brokerage commissions, custodial
fees, clearing and settlement charges and similar fees and expenses associated with the
acquisition, disposition and settling of investments and potential investments; (i) expenses
associated with legal and regulatory filings of the Funds (including, without limitation, pursuant
to Section 13 and 16 of the Securities and Exchange Act of 1934, as amended (the “Exchange
Act”)) and the Funds’ pro rata portion of the expenses associated with preparation of the
Firm’s Form 13F, Form 13H and Form PF, and any other similar filing in any other U.S. or non-
U.S. jurisdiction; (j) administrative, custodial, appraisal, valuation, legal, regulatory, compliance,
consulting, advisory and similar fees and expenses associated with the Funds’ operations,

investments and transactions, including, without limitation, fees and expenses of the Funds’
administrator; (k) expenses incurred in connection with responding to requests or inquiries
from any U.S. federal, state, local or non-U.S. governmental entity or authority, regulatory
body or self-regulatory organization and all extraordinary expenses; (l) broken-deal, failed
transaction, break-up and similar fees, costs and expenses, if any; (m) costs and expenses of
leverage or any other borrowings of the Funds, including, without limitation, interest charges
and fees; (n) expenses incurred in the collection of monies owed to the Funds, as applicable;
(o) auditing and accounting expenses of the Funds, including, without limitation, expenses
associated with the preparation of financial statements, tax returns and Schedules K-1 and the
fees and expenses of the auditor; (p) any entity level taxes, fees or other governmental charges
on the Funds, including, without limitation, any withholding taxes not due to the status or
noncompliance of a particular Investor; (q) costs and expenses associated with investor
communications and reports and the delivery thereof to investors; (r) the costs of service
providers or software to measure or monitor risk metrics, to aggregate positions and/or to
provide reporting with respect to risk metrics and/or positions; (s) costs and expenses
associated with meetings of the Investors; (t) insurance expenses; including, without limitation,
directors’ and officers’ liability insurance, general partner liability insurance, errors and
omissions insurance and other policies, if any; (u) costs and expenses (including, without
limitation, entity-level taxes, fees or other governmental charges) associated with the
formation, organization and operation of any subsidiary, special purpose vehicle, alternative
investment vehicle, holding company, or similar entity formed with respect to investments,
credit facilities or other transactions entered into for the benefit of the Funds; (v) wind-up,
liquidation, termination and dissolution expenses; (w) costs, fees and expenses related to
registration, qualification and/or exemption under any applicable U.S. federal, state, local or
non-U.S. laws, rules or regulations, including, without limitation, blue sky fees, Form D, Form
8.3, CFTC filings and notices and other securities and/or investment-related filing expenses;
...

Item 7: Types of Clients

Our clients are the Funds and SMAs, as described in Item 4 above. The Funds are generally
open to, among others, institutions, pension plans, endowments, high net-worth individuals,
financially sophisticated individuals, and other sophisticated investors. The SMAs are for
institutional investors with strategies that differ from the Funds’ strategies.