L1 Capital Global Inc

Item 5: Fees and Compensation

L1 Capital US will receive payment from L1 Global for providing sub-advisory services to the
Funds. The sub-advisory fees payable to L1 Capital US by L1 Global represent a portion of the
fees received by L1 Global from the Funds. The fees, compensation, and expenses applicable
to the Funds are set forth in detail in their respective governing agreements.

Management Fee

Investors in the Funds managed by L1 Global are charged a fee for investment management
services based on assets under management (the “Management Fee”), which is set forth in
the Funds’ offering documents. L1 Global receives an annual management fee of 2% per annum
in respect of the net asset value (“NAV”) of the relevant class of shares or interests. The
Management Fee is payable monthly in arrears as soon as practicable after the end of each
calendar month.

L1 Global may, in its sole discretion, waive, rebate or decrease the Management Fee that is
payable in whole or in part, in respect of certain Investors.

The Funds may from time to time enter into Side Letters providing for changes in management
fees. As of the date of this Brochure, no Side Letters have been entered into by the Funds.

Performance Based Compensation

In addition to Management Fees, L1 Global (or one of its affiliates) receives performance-based
compensation in the form of a performance fee or performance allocation (the
“Performance Fee”) which is set forth in the Funds’ offering documents. The Performance
Fee will accrue monthly as at the close of business on each valuation day and generally will be
paid annually in arrears.

L1 Global in its sole discretion, may reduce, waive, rebate, or modify the Performance Fee
with respect to certain Investors.

The Funds may from time to time enter into Side Letters providing for changes in Performance
Fees.

Other Costs and Expenses

The Funds pay various ongoing operational expenses, including but not limited to, accounting,
auditing, tax preparation, legal, administration, research, travel, and trading costs. The Funds
may incur brokerage and other transaction costs.

Fees and compensation are generally deducted from the assets of each Fund on a monthly
basis.

If, in the future, L1 manages multiple client accounts, a portion of the Funds’ operating
expenses may be shared with other investment entities or accounts managed by L1 on an
equitable basis.

Sales Compensation

L1 and its supervised persons do not receive (directly or indirectly) any compensation from
the purchase or sale of securities or investments for the Funds Presumably this does not
include structuring fees. L1 and its supervised persons do not receive (directly or indirectly)
sales commissions in connection with sales of interests in the Funds.

L1 Capital Global Inc.                                                      Form ADV Part 2A

Item 7: Types of Clients

L1 Capital US currently provides investment advisory services for the ultimate benefit of the
Funds through the Subadvisory Agreement. Investors in the Funds primarily consist of
institutional investors.

The minimum initial investment amount for the Funds is generally US$250,000 and the
minimum subsequent investment amount is US$250,000. In certain circumstances, minimum
investment amounts may be amended by a Fund’s directors in consultation with L1.

L1 Capital Global Inc.                                                      Form ADV Part 2A