Huizenga Capital Management LLC

“Item 5 - Fees and Compensation” for a description of the fees or allocations we receive from the
Entities.

A performance-based fee or allocation creates an incentive for our firm to make investments for an
Entity that are riskier or more speculative than would be the case absent a performance-based
compensation arrangement. In order to address this conflict of interest, we are responsible for ensuring
that investments are suitable for each Entity and in compliance with the applicable investment
guidelines and objectives.

Performance-based compensation also creates an incentive for our firm to overvalue investments
that lack a market quotation. To address this conflict, we have adopted policies and procedures that
require our firm to follow an established process to “fairly value” any investments that do not have
a readily ascertainable market value.

Certain Clients are subject to performance-based fees, but certain Clients are not. This is known
as “side-by-side management,” which creates a conflict of interest. As noted, generally, these
Clients have similar investment guidelines and objectives. Side-by-side management might
provide an incentive for our firm to favor accounts for which we receive performance-based
compensation. For example, we may have an incentive to allocate limited investment opportunities
to Clients who are charged performance-based fees over Clients who are charged asset-based fees only.
To address this conflict of interest, we have instituted policies and procedures that require our firm to
allocate investment opportunities (if they are suitable) on a fair and equitable basis among our Clients
over time, regardless of whether the Client is charged performance-based fees.

Item 7 – Types of Clients

We offer investment advisory services to certain pooled investment vehicles that are exempt from
registration as investment companies with the SEC pursuant to Sections 3(c)(1) or 3(c)(7) of the
Investment Company Act of 1940, as amended (the “40 Act”). To invest in these Entities, an
investor generally needs to make a minimum investment/commitment ranging from $250,000 to
$1,000,000, although we may accept lesser amounts at our discretion. In addition, investment in
the Entities may be limited to “accredited investors” within the meaning of Regulation D under the
Securities Act of 1933, as amended, “qualified clients” as defined in Rule 205-3 under the
Investment Advisers Act of 1940, as amended (the “Advisers Act”), and/or “qualified purchasers”
as defined in Section 2(a)(51) of the 40 Act. Each Entity’s private offering memorandum or
organizational documents include a complete discussion of the investor eligibility requirements for
that Entity.