Iso-MTS Capital Management LP

Item 5 - Fees and Compensation

The extent to and specific manner in which our clients are responsible for fees, performance-
based compensation and/or expenses are set forth in each client’s applicable written
agreement with us (and, in the case of clients that are private investment funds, in the Fund
Documents for such funds).

In general, we deduct fees from the Funds quarterly in advance, at a rate between one percent
(1.0%) to one and a half percent (1.5%) per annum of the net asset value of the Funds
(“Management Fees”). Additionally, we generally receive performance-based fees or
allocations from the Funds annually and upon the distribution of capital (such as a withdrawal
by a Fund investor), at rates between ten percent (10%) to twenty percent (20%) per annum
of the increase in net asset value, or, in the case of certain separately managed accounts, based

 ISO-mts Capital Management LP Form ADV: Part 2A                                        Page 5

on the net profit of the Funds, subject to a high water mark (“Performance Fee”).

Unless provided otherwise in the applicable Fund Documents, Clients that are private
investment funds generally bear all costs and expenses associated with their operations,
including, without limitation: (i) expenses related to the research, execution and monitoring of
actual and prospective investments (whether or not consummated) and the consummation of
investments, including, without limitation, the following: third-party investment sourcing
fees; consulting fees; expert fees; fees and expenses of and related to obtaining research,
analytics and market data (including, without limitation, third-party data sources and any
information technology hardware, software and data subscriptions (such as Bloomberg and
FactSet) or other technology incorporated into the cost of obtaining such research and market
data); due diligence expenses including, without limitation, consulting and appraisal fees;
investment- and research-related travel expenses (consistent with the Adviser’s travel policy);
any outsourced trading provider fees; brokerage and prime brokerage fees, commissions and
expenses (including the costs of negotiating, documenting and/or amending agreements with
prime brokers, ISDAs and other agreements with trading and financing counterparties);
expenses relating to borrowing securities to be sold short; clearing and settlement charges;
custodial fees and expenses; bank service fees; interest expenses and other borrowing costs;
fees and expenses of proxy research and voting services; broken deal expenses; fees and
expenses of third- party professionals, including, without limitation, consultants, investment
bankers, attorneys, accountants and service providers who, in each case, provide services to
the funds or provide services to the Adviser, the General Partner or the principals of the
foregoing (on matters that would not have arisen but for their respective advisory
relationships with the funds); and expenses relating to engagement with a company
irrespective of the outcome of such engagement, such as shareholder and management
communication, soliciting proxies, hiring proxy advisory consultants, hosting shareholder
forums, hiring public relations consultants and proposing or nominating directors or
executives, including sourcing, recruiting, standby and indemnification and other expenses,
regardless of whether the nomination is successful; (ii) organizational fees and expenses and
fees and expenses incurred in connection with the offering and sale of the Interests, including,
without limitation, the draft and preparation of the funds’ Fund Documents; and fees and
expenses of the Adviser incurred in connection with “world sky” matters and private
placement regimes, including the European Alternative Investment Fund Managers Directive,
and Form D and blue sky and similar fees and expenses; (iii) operational expenses, including,
without limitation, the following: fees and expenses relating to information technology
hardware, software or other technology (including, without limitation, costs of software
licensing, implementation, data management and recovery services and custom development)
used to research investments, evaluate and manage risk, facilitate valuations, facilitate
accounting functions, facilitate compliance with the rules of any self-regulatory organization
or applicable law (including, without limitation, reporting obligations) in connection with the
activities of the Funds, and facilitate and manage the order execution of securities or otherwise
manage the Funds (such as portfolio management systems and order management systems);
fees and expenses of third-party risk management products, models and services; third-party
administrative fees and expenses, including fees and expenses of the fund administrator and
any middle and/or back office service provider; fees and expenses of third-party
professionals, including, without limitation, consultants, valuation service providers,
attorneys, accountants and tax preparers; third-party audit and tax preparation expenses;
insurance expenses, including, without limitation, premiums for cybersecurity insurance and
liability insurance (including directors and officers liability insurance and errors and omission

 ISO-mts Capital Management LP Form ADV: Part 2A                                        Page 6

insurance) covering the funds, the Adviser, the General Partner and the principals, officers,
employees, managers, partners, members, affiliates or agents of any of the foregoing, and the
directors of the Offshore Feeder Fund (and/or any other non-U.S. client) (in each case, even
if such insurance covers conduct for which indemnity would not be available from the funds);
fees and expenses associated with director meetings and meetings of the fund investor as a
whole, including, without limitation, expenses related to the organization and conduct of such
...

Item 7 - Types of Clients

We provide investment advice to clients that are private investment funds and institutional
investors. Investors in the private investment funds generally must qualify as “accredited
investors” (as defined in Rule 501 under the Securities Act of 1933, as amended) and
“qualified clients” (as defined in Rule 205-3 of the Advisers Act), and may be subject to other
suitability requirements to the extent provided in the applicable Fund Documents. We may
provide investment advice to other types of clients in the future.

The minimum initial investment in the Funds is $1,000,000, subject to the Funds’ discretion
to accept lesser amounts. We will determine the minimum investment amount (and any other
conditions for opening and maintaining an account) for other clients, such as separately
managed accounts, on a case-by-case basis.