Kenmar Preferred Investments LLC

Item 5: Fees and Compensation

Kenmar Preferred does not have a standardized fee schedule. Kenmar Preferred generally receives a
management fee ranging from 0% to 2% per annum of assets under management for the Private
Funds (a) based on beginning of period or end of period assets, (b) generally charged monthly and (c)
payable either in advance or in arrears.

Kenmar Preferred may be entitled to receive incentive (or performance-based) fees, but did not receive
any in 2025.

Management fees charged in arrears will be prorated, and management fees charged in advance will
be refunded for any partial period. Management fees may be negotiable depending upon a variety of
factors including, among others, the investment strategy employed by Kenmar Preferred, the amount
of the investor’s assets under management, or the overall relationship with the investor.

Fees paid to Kenmar Preferred are generally deducted from the Private Fund assets as more fully set
forth in the respective Offering Documents. Private Funds also pay certain other fees and
expenses such as brokerage, custody, clearing, transaction and give-up fees, withholding taxes,
legal, administrative, registration and regulatory costs, operational due diligence costs, regulatory
reporting, offering costs, and audit & tax preparation fees. All such fees and expenses and other
important information regarding an investment in a Private Fund, such as risk factors, are more fully
set forth in each Private Fund’s Offering Documents.

Each of the Private Funds invests, either directly or indirectly, in a Portfolio Fund and, as such, the
Private Funds will bear their pro rata share of the Portfolio Fund’s fees and expenses, including
but not limited to management fees and incentive fees paid to the Manager, brokerage and other
transaction fees, legal, audit, administrative, offering and operating fees and expenses.

Certain supervised persons of Kenmar Preferred may receive a bonus based in part on the assets
managed by Kenmar Preferred (“Kenmar”).

This practice may present a conflict of interest as it gives Kenmar Preferred and/or its supervised
persons an incentive to recommend the investment advisory services of Kenmar taking into account
the fact that compensation may be received based upon an increase in Kenmar’s assets. We do not
believe this conflict to be material because, among other things, such supervised persons are not
incentivized to sell one investment product over another and thus will generally consult with each
prospective investor to select the investment product(s) most appropriate for their specific investment
objectives and requirements. Further, the relationship between Kenmar Preferred and its affiliates is
disclosed to Clients and investors.

Item 7: Types of Clients

Kenmar Preferred provides discretionary investment management services to Private Funds that in
turn, invest in Portfolio Funds or strategies advised and/or managed by a Manager.

Each Private Fund has a minimum investment requirement for investors as set forth in such Private
Fund’s respective Offering Documents. Investors also are required to meet certain eligibility
standards as set forth in each Private Fund’s offering memorandum and related documents.

In its discretion, Kenmar Preferred has entered into (and may in the future enter into) side letter
arrangements with certain investors in Private Funds managed by Kenmar Preferred (“Side Letter
Investors”) whereby Kenmar Preferred and a Side Letter Investor have agreed (or may agree in the
future) to vary the Side Letter Investor’s investment terms from those made available to other investors
in Private Funds, including but not limited to (1) the greater availability to the Side Letter Investor of
certain information, disclosures and/or reports (including personnel or other changes to Kenmar
Preferred or the Private Fund, or portfolio holdings and other information concerning the Private
Fund’s investments or the Side Letter Investor’s investment), (2) the timing of the delivery to the Side
Letter Investor of such information or other Private Fund information, disclosures and/or reports, and
(3) certain other investment terms, including but not limited to reduced fees to be charged to a Side
Letter Investor (management and/or incentive), shorter notice periods for redemption, more frequent
dates for redemptions, timing of redemption payouts, and/or timing for subscriptions. As a result,
certain Side Letter Investors may be able to act (i.e., request redemptions) on such additional
information that other investors do not receive. Granting more favorable liquidity terms to certain
investors may have a material adverse effect on investors not receiving such terms. A Private Fund
also may issue additional classes that are subject to such different terms and conditions which are
similar or the same as a side letter arrangement.