Idyllic Partners Manager LP

Item 5 – Fees and Compensation

A.     Fee Schedule
The fees and compensation payable to Idyllic are negotiable and vary among its Clients.
However, the range of compensation is generally as follows:
       1.      Management Fee

Idyllic typically receives a quarterly asset-based management fee calculated as a percentage
of each Investor’s capital account, payable in advance. The management fee for the Fund is
1% per year and will be reduced following the end of the Investment Period of the underlying
third-party managed fund. Idyllic may, with respect to any Limited Partner in the Fund, elect
to waive, in whole or in part, or reduce the Management Fee at its discretion. Additionally,
Idyllic shall not charge a management fee to the Fund’s General Partner or any Limited
Partner that is an Affiliate of the General Partner.

With respect to the SMA, Idyllic generally receives fees similar to those paid by the Fund, but
these fees are subject to additional negotiation as to the amount and timing. Fees paid by
SMA Clients may be different and/or more favorable than those paid by the Fund, and by
extension, the Investors.

Fees and other compensation are negotiable and arrangements with any particular Client will
vary in certain circumstances. Although Idyllic believes its fees are competitive, lower fees
for comparable services will in certain circumstances be available from other investment
advisers.
       2.      Performance-based Fees

Idyllic does not currently charge any of its Clients performance fees.

B.     Payment of Fees

Third-party fees (discussed below) are deducted from Client assets. Management fees, which
are paid in advance, are withdrawn at the beginning of the quarter.

C.     Client Expenses and Other Fees
The Fund bears all costs incurred in connection with operation of its business, including all
investment-related expenses, legal, audit, registration, financial fees, the cost of Fund
meetings; and any extraordinary expenses of such Fund. The SMA shall bear all costs of the
account including legal, consulting, audit, technology, investment-related expenses, and
meetings. The SMA expenses are subject to an annual cap after which the Firm will bear the
account expenses.
The Firm will bear all of its own ordinary administrative and overhead expenses.

                                                                                 Part 2A of ADV:
                                                           Idyllic Partners Manager LP Brochure

Idyllic’s fees are exclusive of brokerage commissions, transaction fees, and other related costs
and expenses, which shall be incurred by the Clients. Additionally, Clients must pay all fees
associated with the underlying third-party funds in which they invest. The Clients will bear
their share of the organizational expenses, operating expenses, management fee and carried
interest of the third-party managed funds in which they invest in accordance with the
governing documents of each investment. No such fees or expenses shall reduce or otherwise
offset the management fees or expenses of the Clients and Idyllic shall not receive any portion
of these commissions, fees, and costs.
The foregoing discussion in Item 5 represents Idyllic’s basic compensation
arrangements. It is critical that investors refer to the relevant agreements for a complete
understanding of expenses. The information contained herein is a summary only and is
qualified in its entirety by such documents.

Item 7 – Types of Clients

Idyllic provides investment advice and management to the Fund and the SMA. Idyllic may in
the future provide the same or similar services to other Funds and/or SMAs.
Each Investor in the Fund generally must be a “qualified purchaser” (as defined in Section
2(a)(51) of the U.S. Investment Company Act of 1940, as amended) and must meet other
criteria as specified in the governing documents. Prospective Investors in the Fund are also
subject to certain withdrawal requirements and limitations. Though the Clients generally
pursue the same strategy, offering terms may differ. Terms for new SMAs will generally be
similar to the Fund and the SMA but can be negotiated on a case-by-case basis and may differ
from those of the existing Clients.
The minimum initial investment for any Client is $1,000,000, subject to waiver at the
discretion of Idyllic.

                                                                                  Part 2A of ADV:
                                                            Idyllic Partners Manager LP Brochure