Highbrook Investment Management LP

Item 5: Fees and Compensation

HighBrook receives investment management fees from Clients in exchange for investment
advisory services provided. Management fees are typically a specific percentage of each
Investor’s aggregate capital commitment or invested capital in the applicable client, but are
sometimes a flat fee.

The Fee will range from 75bps to 175bs. In some instances, this fee will be based off
investment capital, and in most instances it will be based off of committed capital.

The Firm may, in its discretion, elect to waive or modify all or any part of the management fee
with respect to any client.

Costs and Expenses
The Clients generally bear all costs and expenses relating to the organization of the Clients,
their general partners, and all other costs and expenses incurred in relation to the operation,
business and investments. Such costs and expenses may include without limitation, legal,
auditing, consulting, financing, administration, accounting and custodian fees and expenses;
expenses associated with the preparation of financial statements and tax returns; the
management fees; reimbursable costs and expenses of HighBrook or its affiliates;
indebtedness; all costs and expenses related to indemnification obligations; expenses
incurred in connection with potential transactions not consummated; expenses related to the
members of the advisory committee; the costs and expenses associated with any litigation;
director and officer liability or other insurance; all expenses incurred in liquidating the Clients;
any taxes, fees or other governmental charges and all expenses incurred in connection with
any tax return, audit, investigation, settlement or review; other expenses associated with the
acquisition, holding and disposition of investments; and all other liabilities of the Clients of
whatsoever kind and nature subject to applicable laws and regulations.

Performance-Based Compensation
HighBrook receives performance-based compensation in the form of an allocation of a profits
interests from the Clients or a participation right in the profits of a Client (commonly referred
to as “Carried Interest”). HighBrook may, in its sole discretion, waive, reduce or defer the
distributions of Carried Interest with respect to any Client.

Item 7: Types of Clients

Our clients are the Funds, as described in Item 4 above. HighBrook provides its advisory
services to pooled investment vehicles and certain investors with specific investment
strategies.