Innocap Global Investment Management Ireland Ltd

Item 5 – Fees and Compensation

Compensation

With respect to the Vehicles, IGIM is generally paid a management fee to reflect its services as either AIFM or
dedicated account manager/ platform manager as relevant (“Management Fee”). The Management Fee is negotiated
with each client and based on the assets of each Vehicle and the complexity of managing such Vehicle. The
Management Fees are payable monthly or quarterly in arrears at the end of each relevant payment period

     Noting that the AUM of one or more funds, included in this calculation, may be provided as of September 30th, 2025, since the
     funds has a quarterly NAV.

and are deducted from each Vehicle (including each class of shares where applicable). In addition, IGIM also
receives fees generated through share class FX hedging services in certain cases in which it offers such a
service. The Vehicles launched or terminated during the relevant monthly or quarterly period will be charged
a pro-rated fee. Fees related to the onboarding and liquidation of Vehicles may also apply. The fees payable
by each Vehicle are set forth in detail in each of the Vehicles' respective offering documents, when
applicable, or in an agreement with the relevant Vehicle or investor, as the case may be.

Additional Fees

Vehicles managed by IGIM may also bear the following fees:

Trading Advisor Fees
Fees paid to the Trading Advisors vary and generally include a management fee based on the value of the assets
of the relevant Vehicle and a performance fee based on the net trading gain of such Vehicle. Fees applicable
to a Trading Advisor are specified in the relevant Vehicle’s offering documentation and management
agreement with each relevant Trading Advisor and disclosed to investors in the Vehicles. These details are
confidential to the Trading Advisor and specific Vehicle.

Administration Fees
The Vehicles also bear administrative fees and expenses based on the assets of the Vehicles, sometimes
subject to a minimum fee, which may include administration fees, registrar and transfer agent fees and
expenses, accounting, audit and legal costs, custodial fees, bookkeeping and recordkeeping costs,
communication and promotional expenses, other professional fees and expenses as further described
below, any trading and investment-related costs and expenses and dissolution costs, regardless of whether
profits are realized.

Trading Fees
Certain types of strategies employed in the Vehicles, or in underlying investment vehicles in which the
Vehicles invest, may require frequent changes in trading positions and consequent portfolio turnover. This
may involve brokerage commission expenses exceeding those of other investment schemes of comparable
size. In relation to such Vehicles, the Vehicles must therefore make meaningful profits from their
investments to avoid depletion or exhaustion of their assets from these and other expenses.

Corporate Secretarial Fees
Innocap Corporate Services Limited, a subsidiary of IGIM, may be engaged by certain Vehicles to perform
corporate secretarial functions (such as organizing board meetings and drafting minutes), as required. Fees
for company secretarial services are established at typical commercial rates, disclosed in the offering
documentation (where applicable) and in the relevant support services agreement and paid from the
relevant Vehicle’s assets.

Other Fees
The Vehicles may be subject to other types of fees including initial set-up fees 2, liquidation or redemption
fees, administration services and related software fees, banking commissions and charges, custodian fees,
legal fees, audit fees and other professional advisory fees, company secretarial fees, registration and
statutory fees, regulatory fees, translation and accounting expenses, interest on borrowings, insurance costs
and/or premiums, director and officer fees and expenses, licensing and government filing fees, taxes and

  These fees are negotiated on a case-by-case basis and are typically a one-time flat fee based on considerations including but
not limited to the following; 1) the level of complexity of the Trading Advisor’s strategy; 2) the size of the relationship; 3) the number
of accounts to be launched; 4) the amount of upfront work required of IGIM in building the Vehicle structure. Where applicable,
these fees are described in the platform management agreement, dedicated management account services agreement or
agreements whereby IGIM is retained by a client to provide platform services. Set-up fees, where applicable, will be charged in
compliance with the Innocap Group’s Set-Up Fee Procedure.

governmental expenses applicable to the Vehicles, costs of preparation, translation, printing and
distribution of reports and notices, marketing material and advertisements and periodic update of the
offering documentation, stock exchange filing fees, expenses in connection with registration, listing and
distribution of the Vehicles issued or to be issued, expenses in connection with obtaining and maintaining a
credit rating for any Vehicle, expenses of shareholders meetings, expenses in connection with obtaining and
maintaining a credit rating for any Vehicle, expenses of shareholders meetings, clerical costs of issue or
redemption of shares, postage, telephone, facsimile and telex expenses, costs of litigation, brokerage,
research and market data expenses (except to the extent that all or a portion of its costs in respect of
brokerage or research-related services or products are paid through the use of "soft dollars", where
permitted) fees associated with maintaining the Vehicles’ registered office in the relevant jurisdiction, rating
agency fees, pricing services fees, costs and expenses of third-party risk management products and services
(including but not limited to the costs of risk management software or database packages) consultant and
...

Item 7 – Types of Clients

Type of clients

IGIM provides investment advisory and investment management services to clients that are investment

vehicles (“Vehicles”). In respect of the Vehicles, investors may include some or all types of qualifying investors
as set forth in the relevant offering documentation, where applicable, or are dedicated to a sole investor.
Investors in the Vehicles are typically large institutional investors and qualifying investors.

Minimum account size

The minimum subscription amount in a Vehicle varies.        The minimum initial investment in a Dedicated
Vehicle is generally higher than in Commingled Vehicles but may vary depending on the investment
objectives and particular circumstances of a specific account and Vehicle type.