Leadenhall Capital Partners LLP

Item 5: Fees and Compensation

Management Fees

The Firm charges each client a management fee. For the funds, these fees are based on the
Net Asset Value (“NAV”) of each class within a fund and are deducted from the portfolio on
a monthly basis.
The fee schedule for the funds varies from fund to fund and between share classes in those
funds. A summary of the current fee schedule is set out below:

    Fund                                              Fee range

    Unregulated funds
    Leadenhall   Diversified      Insurance   Linked 1/12 of 1.5 per cent per month of the
    Investments Fund Plc                             Net Asset Value of the Class A
                                                     Shares, Class B Shares, Class C
                                                     Shares, Class E Shares, Class F Shares,
                                                     1/12 of 1 per cent per month of the
                                                     Net Asset Value of the Class G
                                                     Shares and up to 1/12 of 1.5 per cent
                                                     per month of the Net Asset Value of
                                                     the Class H Shares (before deduction
                                                     of     that    month’s      Investment
                                                     Management       Fee    and     before
                                                     deduction      for    any      accrued
                                                     Performance Fees) as at the last
                                                     Valuation Day in each month, payable
                                                     in arrears.

    Leadenhall Value Insurance Linked Investments 1/12 of 2 per cent per month of the
    Fund Plc                                      Net Asset Value of the Class A
                                                  Shares, 1/12 of 1.5 per cent per
                                                  month of the Net Asset Value of the
                                                  Class B Shares, Class C Shares, Class
                                                  E Shares, Class F Shares and Class G
                                                  Shares and up to 1/12 of 1.5 per cent
                                                  per month of the Net Asset Value of
                                                  the Class H Shares (before deduction
                                                  of    that     month’s      Investment
                                                  Management       Fee     and     before
                                                  deduction      for     any     accrued
                                                  Performance Fees) as at the last
                                                  Valuation Day in each month,
                                                  payable in arrears.

    Leadenhall Life Insurance Linked Investments 1/12 of 1 per cent. of the Net Asset
    Fund Plc                                     Value (prior to deduction of that
                                                 month’s Investment Management Fee
                                                 or Performance Fee) of the relevant
                                                 Class.   (Excluded    classes:  GBP
                                                 Accumulating Manager Class and the
                                                 USD Accumulating Manager Class)

Leadenhall Capital Partners LLP                                        Form ADV Part 2A

    Leadenhall Nat Cat Focus Insurance Linked 1/12 of 1.5 per cent per month of the
    Investments Fund ICAV                     Net Asset Value of the Class A
                                              Shares, 1/12 of 1 per cent per
                                              month of the Net Asset Value of the
                                              Class G Shares and up to 1/12 of 1.5
                                              per cent per month of the Net Asset
                                              Value of the Class H Shares (before
                                              deduction of that month’s Investment
                                              Management       Fee     and    before
                                              deduction      for     any     accrued
                                              Performance Fees) as at the last
                                              Valuation Day in each month,
                                              payable in arrears.

    Leadenhall Remote Risk        Insurance   Linked 1/12 of 0.75 per cent per month of
    Investments Fund ICAV                            the Net Asset Value of the Class A
                                                     Shares, 1/12 of 0.5 per cent per
                                                     month of the Net Asset Value of the
                                                     Class G Shares and up to 1/12 of 0.75
                                                     per cent per month of the Net Asset
                                                     Value of the Class H Shares (before
                                                     deduction of that month’s Investment
                                                     Management       Fee     and     before
                                                     deduction      for     any     accrued
                                                     Performance Fees) as at the last
                                                     Valuation Day in each month,
                                                     payable in arrears.
...

Item 7: Types of Clients

Funds

The funds managed by Leadenhall are described above under “Advisory Business”.

Each fund where Leadenhall Capital Partners LLP acts as investment adviser specifies
minimum subscription limits and the subscription and redemption terms applicable. These
may vary according to the terms and base currency of each individual share class. Minimum
initial subscription limits and redemption terms by fund are as follows:

Unregulated funds

Leadenhall Diversified Insurance Linked Investments Fund Plc, Leadenhall Value Insurance
Linked Investment Fund Plc and Leadenhall Nat Cat Focus Insurance Linked Investments
Fund ICAV:

        Euro             €250,000
        US Dollar        US$ equivalent of €250,000
        Sterling         GB£ equivalent of €250,000

Investors may subscribe to Leadenhall Diversified Insurance Linked Investments Fund Plc,
Leadenhall Value Insurance Linked Investment Fund Plc and Leadenhall Nat Cat Focus
Insurance Linked Investments Fund ICAV on the first business day of each month and or
such other day or days as the Directors may from time to time determine if the share class
is in issue. Shares in classes not yet in issue are available for issue during the relevant initial
offer period and thereafter on the first business day of each month.

Subsequent redemptions may be made on the first business day of January, April, July and
October (in the case of the Diversified Fund, Remote Risk Fund and Value Fund) and on the
first business day of January and July (in the case of the Nat Cat Focus Fund) upon the giving
of at least 90 days’ prior written notice to the Administrator in respect of Redemption Days
in January and July of each year and 120 days’ prior written notice to the Administrator in
respect of Redemption Days in April and October of each year (in the case of the
Diversified Fund and Value Fund) or after such lesser period and/or upon such shorter
notice as the Directors may in general determine.

Leadenhall Remote Risk Insurance Linked Investments Fund ICAV

        Euro             €100,000
        US Dollar        US$ equivalent of €100,000
        Sterling         GB£ equivalent of €100,000

Investors may subscribe to Leadenhall Remote Risk Insurance Linked Investments Fund
ICAV on the first business day of each month and or such other day or days as the
Directors may from time to time determine if the share class is in issue. Shares in classes not
yet in issue are available for issue during the relevant initial offer period and thereafter on
the first business day of each month.

Leadenhall Capital Partners LLP                                            Form ADV Part 2A

Subsequent redemptions may be made on the first business day of January, April, July and
October upon the giving of prior written notice to the Administrator (see the Remote Risk
Fund’s prospectus for the exact length of notice required).

Leadenhall Life Insurance Linked Investments Fund Plc:

        Euro            €250,000
        US Dollar       US$ equivalent of €250,000
        Sterling        GB£ equivalent of €250,000

The Fund is in run-off and is now closed to new subscriptions. Share are being redeemed
pro rata among investors (on a staged basis) on the redemption days falling on the first
business day of January, April, July and October

Leadenhall Life Insurance Linked Investments Fund II L.P.:

        US Dollar       US$ 1 million

There is an investment period that was due to end on 20 November 2020. This was
extended by the general partner with the consent of the advisory committee through to 20
November 2021. Subsequent closing dates, after the initial closing date, were held in
October 2018 and August 2019. The fund is now closed.

The Life Fund II is a closed-ended fund.

Leadenhall Life Insurance Linked Investments Fund IV L.P.

        US Dollar       US$ 1 million

The General Partner may draw down Commitments from the Partners to make investments
at any time during the period from the Initial Closing until December 31, 2023. The Fund is
now closed.

The Life Fund IV is a closed-ended fund.

Regulated funds

Leadenhall UCITS ILS Fund plc

US Dollar          $250,000
Euro                EUR equivalent of US$250,000
Sterling           GBP equivalent of US$250,000
Swiss Franc       CHF equivalent of US$250,000

Investors may subscribe to Leadenhall UCITS ILS Fund Plc on the 1st business day and the
Monday after the 2nd Friday of each month save where such day is not a business day in
which case it will be the following business day or such other day or days as the Directors
may from time to time determine if the share class is in issue. Shares in classes not yet in
issue are available for issue during the relevant initial offer period and thereafter on the 1st
business day and the Monday after the 2nd Friday of each month.

Leadenhall Capital Partners LLP                                         Form ADV Part 2A

Redemptions may be made on the relevant Dealing Day, upon the receipt of a redemption
application which must arrive no later than the Dealing Cut-Off Time (first or third
Wednesday of each month), in order to be effective on the relevant Dealing Day.

Leadenhall Insurance Finance Fund LP

       US Dollar       US$ 100,000

Investors may subscribe to IFF on the first business day of each month and or such other day
or days as the Directors may from time to time determine.

Subsequent redemptions may be made on the first business day of each month by providing
30 calendar days’ notice.

Leadenhall Cat Bond Fund LP

       US Dollar       US$ 250,000

Investors may subscribe to Leadenhall Cat Bond Fund LP no later than the Dealing Cut-Off
time. The “Dealing Cut-Off Time” is 12:00 p.m. in Dublin time on the third Business Day
immediately preceding the proposed Dealing Day, unless otherwise agreed to by Leadenhall
in its sole discretion.

An Investor may request a redemption of all or any portion of such Investor’s Interest
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