Khronos LLC

Item 5 - Fees and Compensation

All of our clients are “qualified purchasers” (as defined in Section 2(a)(51) of the Investment Company Act
of 1940, as amended (the “1940 Act”)), and as such a schedule of our fees is not included in this
brochure. Our fees and compensation are described in the advisory contracts we enter into with the
Funds and/or each Fund’s offering memorandum, as applicable.

As compensation for its advisory services, Khronos receives a management fee which is deducted from
the Funds. The management fee is generally not negotiable, although Khronos retains the discretion to
waive fees for one or more investors, in whole or in part, without notification to other investors.

In addition to the management fee, each Fund is directly or indirectly responsible for its own expenses
associated with the operations of the Fund. Such expenses include operational expenses; transaction
costs and brokerage expenses; legal, accounting, auditing, tax preparation, and administration fees and
expenses; and expenses related to the ongoing offering of its shares or interests, if applicable; as well as
other similar fees and expenses as set forth in more detail in each Fund’s offering memorandum and/or
governing documents.

In addition to the fees and expenses discussed above, due to the fact that we also allocate the Funds’
capital to private investment funds and accounts that are managed by other investment managers
(including registered investment companies) and may also allocate a portion of the Funds’ capital to
money market funds or exchange-traded funds, investors will indirectly incur additional similar fees and
expenses, as these funds and accounts in turn pay similar fees to their investment managers and other
service providers. A Fund may be subject to performance-based fees or allocations to the managers of
the private investment funds and accounts in which it invests, even if the Fund, as a whole, experiences a
loss.

Some Funds pay management fees in advance and some pay management fees in arrears, as set forth
in each Fund’s offering memorandum and governing documents. Once paid, management fees that are
paid in advance are not refundable if the advisory contract is terminated prior to the end of a payment
period.

Neither our firm nor our supervised persons accepts compensation for the sale of securities or other
investment products.

Item 7 - Types of Clients

Khronos provides investment advice to private investment funds. Investors in the Funds are generally
institutional investors and high net worth individuals that satisfy eligibility standards under applicable
securities laws. The minimum investment in the KLOF Funds is generally $250,000, subject to our
discretion (or the discretion of the directors in the case of KLOF Ltd.) to accept lesser amounts.