Leucadia Asset Management LLC

Item 5. Fees and Compensation

The Investment Manager will not charge a management fee or any carried interest to the Funds. The
Investment Manager’s clients are private funds offered solely to current senior employees, board
members and senior advisers, certain members of Jefferies’ senior management and subsidiaries of
Jefferies. Therefore, the Investment Manager will not be compensated for its services to the Funds.
Investors in the Funds will indirectly bear any management fees or performance compensation paid to
managers of the Funds’ investments. The expenses borne by each Fund are explained more fully in the
offering memorandum for each Fund (the “Memorandum”) and are set forth in each Fund’s partnership
agreement (together with any Memorandum, the “Governing Documents”).
When we consider appropriate, we may invest a portion of a Fund’s assets in cash equivalents and
short-term investments including, without limitation, U.S. government and agency obligations, bank
deposits and money market funds. When any such investments are made, the Fund will bear its
proportionate share of any fees for such investments, including management fees charged by a manager
of such money market funds.

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Item 7. Types of Clients

We provide advisory services to the Funds which are only offered to current senior employees, board
members and senior advisers, certain members of Jefferies’ senior management and subsidiaries of
Jefferies.
Each private fund is excepted from the definition of an “investment company” pursuant to Section 3(c)(7)
of the Company Act. The investors in these private funds are generally “accredited investors,” as that term
is defined in Regulation D promulgated under the Securities Act, and “qualified purchasers” as that term
is defined in the Company Act and the rules promulgated thereunder. Each of the private funds sets
minimum investment requirements for the investors in such vehicle. The minimum investments are
typically $250,000.00. Such minimum investment requirements may be waived at our discretion, except
to the extent that such waiver is expressly prohibited by the constituent documents of the private fund or
applicable law.

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