Hondius Capital Management LP

5 (Fees and Compensation) of this Brochure for a detailed description of the Performance Allocation.
Performance-based fees may create an incentive the Adviser to make investments on behalf of the
Advisory Clients that are riskier or more speculative than would be the case in the absence of such an
arrangement. The Adviser does not currently manage any funds or other client accounts that are not
subject to performance-based compensation. However, the Adviser may, in the future, manage additional
funds or accounts with higher or lower fees, and different fee structures, than those applicable to the
Funds. Different fee structures between client accounts may create a potential conflict of interest in that
the Adviser has an incentive to allocate investment opportunities to certain clients over others. See Item

Item 7 – TYPES OF CLIENTS
The Adviser provides discretionary investment advice to the Advisory Clients as more fully described in
Item 4 (Advisory Business). Fund Investors may consist of financial institutions, corporations, funds of
hedge funds, endowments, foundations, high net worth individuals, trusts, estates, and pension or profit
sharing plans.

In order to invest in the Funds, a prospective investor is required to make certain representations as to
suitability and legal requirements of the respective Fund. Each US Fund Investor must be: (i) an
“accredited investor” (as such term is defined pursuant to Rule 501(a) of Regulation D, promulgated
pursuant to the U.S. Securities Act of 1933, as amended (the “Securities Act”)); and (ii) a “qualified
purchaser” (as such term is defined in Section 2(a)(51) of the U.S. Investment Company Act of 1940, as
amended (the “Investment Company Act”)). At such time that the Adviser is registered as an investment
adviser pursuant to the U.S. Investment Advisers Act of 1940, as amended (the “Advisers Act”), each
investor must also be a “qualified client,” as that term is defined in the rules of the Advisers Act, but will
meet such standard by virtue of qualifying as a qualified purchaser.

The minimum initial investment in a Fund is $1,000,000 (or such lesser amount as may be permitted by
the General Partner or the Adviser, subject to the statutory minimum of $100,000 in the case of the
Offshore Fund (or such other minimum amount as may be applicable from time to time)). Thereafter, the
minimum additional investment required will be $250,000 (or such lesser amount as may be determined
by the General Partner or the Adviser).

The Managed Account minimum account size and other terms have been individually negotiated.