Kenrich Partners PTE Ltd

Item 5 – Fees and Compensation

   B.       Compensation for Advisory Services

Kenrich Fund- Fees

Under the terms of the relevant Kenrich Client Documentation, Kenrich is entitled to receive an
annual management fee from the Kenrich Fund (the “Kenrich Fund Management Fee”) in the
amount of one percent (1%) of the Kenrich Fund’s net asset value. The Kenrich Fund
Management Fee is payable monthly in arrears.

Kenrich is also entitled to receive from the Kenrich Fund a performance-based fee (the “Kenrich
Fund Performance Fee”), which is calculated on a share-by-share basis. For each “Performance
Period” (as defined below), the Kenrich Fund Performance Fee is fifteen percent (15%) of any
appreciation in the net asset value of a Kenrich Fund share during that Performance Period
(subject to the “high water mark” increased by the hurdle rate applicable to that share for that
performance period). The application of a “high water mark” means that Kenrich only collects
performance-based compensation on any value above the highest historical value of the relevant
share. The hurdle rate in relation to the payment of the Performance Fee in respect of the share
for a performance period, is fifteen percent (15%), multiplied by the number of calendar months
in the performance period for which such share was in issue, and divided by 36.

“Performance Period” for any share (A) begins on the start of business of the day following the
last day of the preceding Performance Period (except for the first Performance Period, that begins
on the start of business of the issue date of that share) and (B) ends on the close of business of
any of the following dates:

       30 June of the third year from the date of issue of the participating shares;

       30 June of the third year from the end of the last performance period or the date the
        relevant share is redeemed; or

       the date of termination of the management agreement between Kenrich and the Kenrich
        Fund.

The Kenrich Fund Performance Fee is calculated and accrued monthly and is payable to Kenrich
in arrears as soon as possible within thirty (30) days after the end of the relevant Performance
Period.

(See Item 6 for disclosure regarding certain potential conflicts regarding performance-based
compensation.)

Kenrich may, in its sole discretion and out of its own funds, decide to rebate to some or all
shareholders or their agents or to intermediaries all or a portion of the relevant Kenrich Fund
Management Fee and/or Kenrich Fund Performance Fee. Any such rebates may be applied to the
purchase of new shares by the relevant shareholder.

The Kenrich Fund’s administrator calculates the amount of the Kenrich Fund Management Fee
and the Kenrich Fund Performance Fee.

Valuation

The value of the Kenrich Clients’ assets is relevant to numerous aspects of the Kenrich Clients,
including:

        the amount of the management fee payable to Kenrich (which is generally based on the
         net asset value of a Kenrich Client’s account);
        the amount of Kenrich’s performance-based compensation (which is generally based on
         any increase in the net asset value of a Kenrich Client’s account over a specified period of
         time);
        the amount to be paid to a client or shareholder in respect of a redemption request;
        the number of shares to be assigned to a shareholder in the Kenrich Fund that is making
         an investment in the fund; and
        the performance information to be provided to existing and potential clients and
         shareholders in the Kenrich Fund.

While Kenrich maintains ultimate discretion as to the valuation of its clients’ assets, the Kenrich
Clients’ administrators value the Kenrich Clients’ assets (in accordance with the valuation
parameters set forth in the relevant Kenrich Client Documentation).

There may be a potential conflict of interest related to Kenrich’s discretion over the valuation of
Kenrich Client assets. Specifically, Kenrich may seek to overvalue those assets to increase the
amount of Kenrich’s asset-based and performance-based fees and to attract and retain clients and
shareholders, and may undervalue those assets to decrease the amount of any redemption
payments (each of which could conflict with Kenrich’s duty to act in the best interests of its
clients). Kenrich believes that any such potential conflicts of interest are mitigated by the fact
that Kenrich generally accepts the valuations provided by the Kenrich Clients’ administrators.

B.       Method of Fee Payments

Pursuant to the terms of the relevant Kenrich Client Documentation, for the Kenrich Fund, the
Kenrich Fund Management Fee and Kenrich Fund Performance Fee are deducted from the
Kenrich Fund’s assets in arrears.

Expenses borne by the Kenrich Clients (as described below in “Other Fees/Expenses”) are
deducted from the Kenrich Client’s assets periodically.

C.       Other Fees/Expenses

The Kenrich Fund bore its organizational expenses, which have been fully amortized. The Kenrich
Fund bears its operating and administrative expenses, which include, without limitation:

        the cost of any brokerage payable on the purchase or sale of investments;

        interest on borrowings and related fees;

        fees payable in the Cayman Islands on increases in the share capital of the Kenrich Fund;

        annual Kenrich Fund registration fee payable in the Cayman Islands;

        fees and reasonable travel, hotel and incidental expenses of the Kenrich Fund’s directors;

        insurance premiums in respect of directors’ and officers’ liability insurance;

        fees and expenses (including any indemnification expenses, if applicable) of the auditors,
         administrator, custodian, and legal advisers to the Kenrich Fund; and

        the cost of printing and distributing the annual and any semi-annual reports and
...

Item 7 – Types of Clients

As noted in Item 4 above, Kenrich provides discretionary advisory services to the Kenrich Fund
(an exempted company with limited liability in the Cayman Islands).

Shares of the Kenrich Fund and the Kenrich Fund itself are not registered under the U.S. Securities
Act of 1933, as amended or the 1940 Act, respectively. Accordingly, shares of the Kenrich Fund
are offered exclusively to investors satisfying the applicable eligibility and suitability
requirements either in private placement transactions within the United States or in offshore
transactions, and the Kenrich Fund is excepted from the definition of an “investment company”
under Section 3(c)(1) of the 1940 Act.

Unless the following requirements are waived by the Kenrich Fund’s directors, and subject to any
minimum required by Cayman Islands law, the Kenrich Fund requires a minimum initial
investment of US $10 million. Shareholders in the Kenrich Fund are generally institutional
investors, funds-of-funds and high net worth individuals. Each Kenrich Fund shareholder is
required to qualify as an “accredited investor” under the Securities and Futures Act, Chapter 289
of Singapore.