Haverstock Capital LLP

Item 5. Fees and Compensation

Sub-advisory Fees

Haverstock will typically receive a management fee based on a percentage of notional capital that
is billed monthly in arrears. Management fee calculations may use both the average notional
capital or a specific value at the end of the measurement period. The precise management fee
calculations and terms differ across accounts and are detailed in each client’s investment advisory
agreement. The parties negotiate and establish such terms at the inception of the relationship.

Sub-advised accounts generally calculate both the management and performance-based fee
(described fully in “Item 6” below) and send such calculations to Haverstock for review and
approval. Clients then pay fees once approved and invoiced by the Adviser.

Sub-advised accounts will also pay custodial, interest, leverage, and direct trading costs (including
brokers’ commissions, borrowing charges on securities sold short, interest on margin accounts,
and other reasonable and customary out-of-pocket transaction charges payable to third parties).
These expenses can be charged both directly to client accounts as transactions occur or
periodically. Each client’s specific investment advisory agreement will detail the precise fees and
expenses applicable to the arrangement.

In accordance with FCA rules, clients may also establish accounts to pay research-related expenses
provided to Haverstock by prime brokers, executing brokers, or other research providers. The
accounts will be funded by a direct charge payable by the client and will not be linked to the value
or volume of transactions executed on behalf of any client. Where applicable, Haverstock seeks
to operate within the safe harbor provided by Section 28(e) of the US Securities Exchange Act of

1934, as amended. See Item 12 “Brokerage Practices” of this Brochure for additional information
about Haverstock’s brokerage practices.

Private Fund Fees and Expenses

Haverstock anticipates that Private Fund investors will pay a monthly management fee equal to
one-twelfth of 1.5 percent multiplied by the net asset value of each series of shares as of the last
day of the prior month (before considering the estimated accrued performance-based fee, if any).

Along with the management fee and potential performance-based fee, Haverstock anticipates that
investors in the Private Fund will pay a pro-rata share of allowable expenses charged to the fund
including, but not limited to, expenses related to the research, due diligence, and monitoring of
actual and prospective investments (whether or not consummated) including the following: third-
party investment sourcing fees; fees and expenses related to obtaining research and market data
(including investment research, corporate access fees for any computer hardware and connectivity
hardware (e.g., telephone and fiber optic lines) and expenses related to obtaining, processing and
analyzing “big data” or “alternative data”); due diligence expenses including consulting and
appraisal fees; investment-related travel expenses; brokerage, prime brokerage and futures
commission merchant fees, commissions and expenses (including fees, commissions and expenses
paid or reimbursed to an external trading desk); expenses relating to short sales; clearing and
settlement charges; custodial fees and expenses; bank service fees; interest expenses and fees
related to financings or refinancings; fees and expenses of proxy research and voting services;
organizational expenses; operational expenses, including the following: fees and expenses relating
to information technology hardware, software or other technology (including costs of software
licensing, implementation, data management and recovery services and custom development) used
to research investments, evaluate and manage risk, facilitate valuations, accounting functions,
compliance with the rules of any self-regulatory organization or applicable law (including
reporting obligations), facilitate and manage the order execution of financial instruments such as
Bloomberg terminals, portfolio management systems, risk management systems and order
management systems; fees and expenses of third-party risk management products, models and
services; third-party administrative fees and expenses; fees and expenses of third-party
professionals, including consultants, valuation service providers, attorneys and accountants; the
costs of any litigation or investigation involving activities of the Private Fund and/or any asset
holding vehicle; third-party audit and tax preparation expenses; insurance expenses, including
premiums for cybersecurity insurance and liability insurance covering the Adviser and the
members, partners, directors, managers, shareholders, officers, employees and agents of the
Adviser and each member of the Board of Directors; fees and expenses (including director
registration fees) of the fund and affiliate’s directors and officers (including any AML Officers);
costs of preparing and distributing reports and notices; taxes; expenses incurred in connection with
negotiating and complying with provisions of agreements; fees and expenses related to compliance
with the rules of any self-regulatory organization or applicable law in connection with the activities
of the fund or any asset holding vehicle, including any governmental, regulatory, licensing, filing
or registration fees or taxes; expenses incurred in connection with the offering and sale of the
shares and other similar expenses related to the fund (excluding fees payable to any placement
agent); extraordinary expenses, including the following: indemnification expenses; fees and
expenses incurred in connection with any tax audit by any taxing authority, including any related

administrative settlement and judicial review; and fees and expenses incurred in connection with
the reorganization, winding-up, dissolution or termination of the fund or its affiliates. While the
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Item 7. Types of Clients

Haverstock currently sub-advises pooled investment vehicles sponsored by other registered
investment advisers and anticipates that it will manage a Cayman-Islands domiciled pooled
investment vehicle open to both foreign and U.S. investors (“Private Fund”). As noted in “Item 5.
Fees and Compensation,” clients and Haverstock negotiate the contours of the advisory
relationship and investment advisory agreements articulate such parameters. The Adviser does
not require a minimum investment amount for sub-advised accounts but anticipates that the Private
Fund will require a $5 million minimum investment.