Kynam Capital Management LP

ITEM 5: FEES AND COMPENSATION

The fees applicable to each Fund are set forth in detail in each Fund’s offering documents. Kynam
generally charges Clients an asset-based management fee and performance allocation or fee; a
brief summary of such fees is provided below.

Kynam deducts its investment management fees (the “Management Fee”) generally from each
Fund monthly in advance. The Management Fee, which ranges from 1.5% to 2% per annum, is
adjusted for contributions or subscriptions and withdrawals or redemptions made during each
quarter. Sub-advisory Clients may have another fee structure which is described in the Clients
written advisory agreement.

The Adviser or a related party may also receive a performance-based fee or allocation for the
management of certain of the Funds which is based on a share of capital gains or appreciation of
the assets of the Fund. Performance-based compensation generally ranges from 15%-20% and is
subject to a loss carry-forward provision. Performance-based compensation is generally taken at
the end of each calendar year. As noted above, sub-advisory Clients’ may have another fee
structure which is described in the Clients’ written advisory agreement.

Kynam or its affiliates, in their sole discretion, may elect to reduce or waive the performance-
based allocation or fee, or the Management Fee with respect to any Investor, including, without
limitation, an Investor that is a partner, member or employee of the Adviser, the General Partner,
or such person’s family members and trusts, or other entities established for the benefit of such
person or his or her family members.

Management Fees and performance-based fees or allocations are described in greater detail in the
offering documents of the Funds.

The Adviser will render its services to the Partnership at its own expense and will be responsible
for its overhead expenses including: office rent; utilities; furniture and fixtures; stationery;
secretarial/internal administrative services; salaries and bonuses; entertainment expenses;
employee insurance and payroll taxes.

All other expenses will be paid by the Funds, including but not limited to: the Management Fee;
legal, compliance, regulatory, administrator, audit and accounting expenses (including third party
accounting services); fees and expenses related to directors or an advisory board, if any; consultant
fees, including expert fees and/or lobbyist fees; fees and expenses related to various filings (or
portions thereof) made in connection with managing the Partnership’s portfolio (including, but not
limited to, Section 13 filings, Section 16 filings, Form PF filings and similar expenses (if
applicable)); Organizational Expenses (as defined below); investment expenses such as
commissions, research and proxy solicitation fees and expenses (including research-related travel);
costs of independent appraisals, broken-deal and/or unconsummated expenses associated with an
investment (including any portion of expenses that could have been borne by any other co-
investment vehicle or account); expenses in connection with conducting due diligence and
negotiating terms of investments, regardless of whether such investments are consummated;
interest on margin accounts and other indebtedness; borrowing charges on securities sold short;

Form ADV Part 2A | Kynam Capital Management, LP                                       March 2026

custodial fees; bank service fees; Fund-related insurance costs (including D&O and E&O
insurance for the Adviser, General Partner and outside directorship liability); and any other
expenses reasonably related to the purchase, sale or transmittal of Fund assets (including trading
systems and order management systems). The organizational expenses of the Funds (the
“Organizational Expenses”) will be paid by the Funds and, for net asset value purposes, may be
amortized over a period of up to sixty (60) months from the date the Partnership commences
operations.

Kynam may, in its sole discretion, bear any of the Funds’ expenses described above; provided that,
if Kynam does pay any such expenses, it will not be required to continue to pay such expenses and
may thereafter cause the Funds to pay such expenses.

The allocation of expenses by the Adviser between it and any Fund and among Clients represents
a conflict of interest for the Adviser. Kynam has adopted an expense allocation policy that is
designed to address this conflict. The Adviser allocates expenses to each Client in accordance
with the Client's arrangements with the Adviser. Kynam seeks to allocate shared expenses for
products and services benefitting the Adviser and a Fund, and not covered in the Client's
arrangements in a fair and reasonable manner. The Adviser generally allocates common Fund
expenses among multiple Funds or Clients pro rata based on assets under management.

More detailed information regarding the fees and expenses paid by the Funds may be found in the
offering documents of the Funds.

Neither the Adviser nor its employees accept compensation, including sales charges or service
fees, from any person for the sale of securities or other investment products.

Form ADV Part 2A | Kynam Capital Management, LP                                          March 2026

ITEM 7: TYPES OF CLIENTS

Kynam provides investment management services to certain private funds organized in a master-
feeder structure. Kynam could engage in investment management services for certain sub advised
accounts as well (as described above). Fund Investors may include, but are not limited to; high
net worth individuals; pension plans (corporate, state or foreign); sovereign wealth funds;
endowments; foundations; banks; pooled investment vehicles (e.g., funds-of-funds); trusts; estates
or charitable organizations and corporate or business entities.

Any initial and additional subscription minimums or other investor suitability criteria with respect
to investment in a Fund are disclosed in the governing documents for each Fund.

Form ADV Part 2A | Kynam Capital Management, LP                                          March 2026