Keyhaven Capital Partners Limited

Item 5: Fees and Compensation

Each Fund will bear its own operating expenses and costs, including legal and audit fees and
third party costs arising from uncompleted transactions and any irrecoverable VAT incurred
or payable by the Adviser or General Partner(s). The Funds may incur brokerage and other
transaction costs. For further details on the Firm’s brokerage practices refer to Item 12 of this
Brochure.

The Adviser may charge and receive transaction fees on investments by the Fund whether or
not completed and other similar fees (such as advisory board fees, commitment fees etc.) and
such fees will be off-set against the General Partner(s) Share(s).

Fees are deducted from the investors’ accounts by instructing the Funds’ custodian.

Keyhaven and its employees do not accept compensation, including sales charges or service
fees, from any person for the sale of securities or other investment products.

Item 7: Types of Clients

The Firm’s clients are the Funds. Investors in the Funds consist primarily of select number of
institutional investors with whom the Keyhaven team works closely.

The minimum initial investment for the Funds is US$ 11,158,223.00 (€10m) or such lesser
figure as may be agreed by the Manager in its absolute discretion.