Lab Quantitative Strategies LLC

Item 5: Fees and Compensation
The General Partner receives management and incentive allocations or fees from the Funds,
which it may assign to the Adviser. The Adviser is also reimbursed for its operating expenses by
the General Partner. This Brochure is only delivered to “qualified purchasers” as defined in section
2(a)(51)(A) of the Investment Company Act of 1940 and as a result, the Adviser has not provided
its fee schedule in this Brochure. Information about the General Partner and the Adviser’s
compensation is provided in the Offering Documents.

Limited Partners will also be indirectly subject to management fees and performance-based fees
paid by the Funds to third-party investment managers (“Underlying Managers”) in connection
with the respective Fund’s investment program, thus resulting in two layers of fees. Such
Underlying Fund fees and expenses (“Underlying Fund Expenses”) are incorporated in the Fund
Expenses (as defined below) payable by all Limited Partners of each respective Fund.

The General Partner and Adviser will provide and be responsible for paying all overhead expenses
such as rent, furniture, and fixtures, supplies, telephone, salaries of in-house personnel, and other
services that are part of the day-to-day operation and supervision of the Funds.

The Funds bear all other expenses (the “Fund Expenses”), unless otherwise limited by the General
Partner, incurred by the General Partner or Adviser (on behalf of the Funds) or the Fund in
conduct of the Fund’s business, including, but not limited to, management allocations and the
management fees; Organizational Expenses (as defined below); Underlying Fund Expenses;
investment expenses including, without limitation, the cost of investments, management and
advisory fees, performance compensation, transaction expenses including, but not limited to,
brokerage commissions, prime broker fees, initial and variation margin, interest and dividend
expense, margins, option premiums, brokerage, floor, exchange, and clearinghouse commissions,
memberships and fees, custodial and related services fees, bank fees, commitment fees or other
finance charges, borrowing charges on securities sold short, clearing and settlement charges,
transmission costs and related expenses; expenses incurred in connection with transactions not
consummated and all other reasonable expenses related to the management and operation of the
Fund or the purchase, sale, or transmittal of Fund assets; expenses related to consultants,
brokers, or other professionals or advisors who provide research, advice, or due diligence services
(including fees for research and investment reports, studies and analyses); research-related costs
and expenses (including fees for news, market data, data feeds, software, and databases related
maintenance or other technology fees, quotation and similar information, execution and pricing
services); due diligence expenses, including travel and travel-related expenses related to
investment selection and monitoring (including travel to professional conferences in connection
with potential investments); the Fund’s proportionate share of the fees and costs assessed by
other investment vehicles or accounts in or through which the Fund invests assets; expenses
incurred by the General Partner or the Firm for performance-based compensation paid or
reimbursed to all employees, including, without limitation, investment professionals and
members of management, expenses and fees paid or reimbursed to consultants, subcontractors
and agents, and investment advisers engaged directly by the General Partner or the Firm, and
fees paid to persons or entities who assist in identifying and recruiting investment professionals
and other personnel; expenses related to computers, equipment and technology (including,
without limitation, information technology hardware and software and third-party software
licensing, implementation, data management and recovery services and custom development
costs); expenses for insurance premiums, including, without limitation, for General Partner and
Firm liability insurance, directors and officers, errors and omissions insurance, casualty and
property, cyber liability and other risk-specific insurance, and key-man life insurance on certain
employees; expenses for professional services such as accounting, asset valuation, audit, third-
party administration and third-party portfolio valuation and reporting; legal expenses, including,
without limitation, the costs of on-going legal advice and services, blue sky filings and all costs
and expenses related to or incurred in connection with the General Partner or Investment
Manager’s compliance obligations under applicable federal and/or state securities laws directly
arising out of its relationship to the Fund, including expenses incurred in connection with SEC
examinations that are attributable to the Fund, regulatory and compliance related matters
necessitated by the Fund’s operations or investments, including those of the General Partner or
the Firm such as Form PF, NFA CPO filings, and any administration, reporting (including risk
reports prepared by LAB QS or third parties), registration fees and expenses incurred in
connection with the Firm’s compliance with FATCA, CRS or other information sharing
requirements, AIFMD and MIFID II, if applicable; expenses related to Limited Partner
communications, including but not limited to preparing and distributing any statements, reports,
and notices to the Limited Partners, printing and duplication, mailing expenses, solicitation and
marketing expenses, and other related expenses; all expenses for preparation of the Fund’s
financial statements, tax returns and filings, including Partners’ Schedule K-1s, Schedule K-3s,
tax preparation, and any applicable tax liabilities (including transfer taxes and withholding
taxes); other governmental charges or fees payable by the Fund; all costs and expenses associated
...

Item 7: Types of Clients
The Firm current clients are the Funds. Investment advice is provided directly to the Funds
by LAB QS, subject to the direction and control of the General Partner, and not individually
to the Investors.

As described more fully in the respective Fund’s Offering Documents, both Funds are private
investment funds exempt from registration as an investment company under Section 3(c)(7)
of the Investment Company Act. LAB QS, however, is not precluded from advising other
clients, or other types of clients, in the future. The Funds require Investors to meet certain
minimum investment criteria and suitability requirements as detailed in the Offering
Documents. In order to invest in any of the Funds, an Investor is required to complete and
execute a subscription agreement that, among other things, requires the Investor to represent
that it meets the suitability requirements of the applicable Fund. Initial minimum
subscription levels for Limited Partners of the Funds are as follows:

   •   Class A investors in the Funds are required to make an initial minimum subscription
       of $25 million;
   •   Class B investors are required to make an initial minimum subscription of $1,000 for
       investment in the LAB QS Dynamic Equity Fund, LP or the LAB QS DYNAMO Fund,
       LP (Class B interests are only available to current “knowledgeable” employees of
       entities affiliated with the General Partner and the Adviser); and
   •   Class C investors in the Fund are required to make an initial minimum subscription
       of $5 million.
   •   Class D investors in the Fund are required to make an initial minimum subscription
       of $100 million.
LAB QS does not currently have personnel permitted to invest in the LAB QS Dynamic Equity
Offshore, LP. If this changes, Class B investors in the LAB QS Dynamic Equity Offshore Fund,
LP will be statutorily required to make an initial minimum subscription of $100,000.

Where not prohibited by law, initial minimum subscription requirements are subject to a
determination by the General Partner in its sole discretion, to accept initial subscriptions of
a lesser amount. Investors in the Funds can make additional subscriptions at such times as
the General Partner may determine in its sole discretion.

The General Partner has the authority and discretion to waive, alter, or otherwise modify
many of the requirements generally applicable to Limited Partners. This includes, without
limitation, the ability to negotiate, reduce, modify or waive the Management Allocation,
Incentive Allocation, assess, reduce or waive the allocation of Organizational Expenses and
other Fund Expenses, reduce or waive the minimum investment amounts, capital withdrawal
requirements, redemption rights, grant special rights with respect to future contributions
and future investments, or offer additional and/or specialized reporting or information about
the Funds. These waivers or modifications are made pursuant to separate written agreements
(sometimes called “side letters”) between each respective Fund and the Limited Partners
involved. The General Partner may enter into side letters without obtaining the consent of
any other Limited Partner (other than a Limited Partner whose share rights would be
materially and adversely changed by such waiver or modification) and without entitling any
other Limited Partner to the terms of such side letter, provided that such side letter does not
vary the terms of any issued interests of the Fund.