Magnetar Asset Management LLC

Item 5 - Fees and Compensation
Prior to investing in a Client, each investor is asked to carefully read and review the particular
Client’s offering, governing documents and/or separately managed account agreement, as the
case may be, for a complete understanding of the terms of the Client, including, the
compensation received by Magnetar and its affiliates and how such compensation is
calculated, the expenses paid by the Client and withdrawal rights. The information contained
in this Brochure is only a summary and is qualified in its entirety by each such Client’s
offering, governing documents and/or separately managed account agreement, as the case
may be.

Compensation for Advisory Services.
Magnetar’s fee schedule is omitted because this Brochure is only being delivered to qualified
purchasers as defined in the Investment Company Act of 1940, as amended.

Payment of Fees.

With respect to the Funds, to the extent there are any managed by Magnetar, a third-party
administrator calculates and confirms the asset-based and performance-based compensation. Once
calculated, the fees and allocations are deducted from the applicable Funds’ accounts.
Management fees are generally paid monthly, in arrears. Incentive fees and allocations are
generally paid or made annually, in arrears. Carried interest distributions, where applicable, are
payable after investors have received a return of their capital contributions (and/or some other
contractually specified return or distribution).

Fee Negotiation and Waivers.

Management fees and incentive fees and allocations generally are non-negotiable, although
Magnetar may, in its sole discretion, permit certain investors to invest on different fee terms. In
addition, Magnetar, either directly or through one of its affiliates, has the discretion to waive all or
a portion of the management fee and/or incentive fees and allocations. In general, investors that
are the Magnetar, its affiliates, their respective current or former principals, members, partners,
officers, directors, employees and their family members and any affiliates of the foregoing (including
employee benefit plans, estate planning vehicles, and trusts for the benefit of such persons) (the
“Magnetar Investors”) do not pay management fees and are not subject to incentive fees and
allocations. Specifically, Magnetar has consistently waived, and will continue to waive, both the
management fees and incentive fees and allocations for its equity owners and employees. No

waiver or modification of the management fee and/or incentive fee and allocation for any investor
shall entitle any other investor to any such waiver or modification.

Fees for managing single investor or non-discretionary vehicles will be set forth in the written
agreement with the relevant investor. Generally, such arrangements will include an asset-based
and/or a performance-based component and will be negotiated on a case-by-case basis and may be
lower than compensation paid by other Funds.

Other Types of Fees and Expenses.

       Investment and Operating Expenses.

       In addition to compensation payable to Magnetar, and in some cases subject to certain
       limitations, the Clients generally pay their own organizational, investment, administrative
       and operating expenses, including, without limitation, the expenses listed below. This list is
       not intended to be exhaustive; the relevant Client offering, governing document and/or
       separately managed account agreement provides further detail relating to fees and expenses.

                • brokerage commissions and other transactional costs, fees and expenses, which
                  are discussed in more detail below;

                • interest expenses;

                • fees and expenses incurred in the borrowing and lending of securities;

                •   the costs of acquiring and maintaining financing for a portfolio;

                •   the costs of margin lending arrangements (if applicable);

                •   the costs implicit in repurchase and reverse repurchase agreements;

                •   research and due diligence expenses of Magnetar, its affiliates and third-party
                    consultants (including any independent environmental, social and governance
                    (“ESG”) retained to provide strategic advisory-related services related to ESG
                    practices), including travel, research and due diligence or analyses related to
                    proposed or existing investments (including expenses for transactions that are
                    not consummated (i.e., broken deal expenses));

                •   all expenses and fees incurred in connection with any actual or proposed
                    investment (including external legal counsel expenses, trustee fees and
                    calculation agent expenses) or other participation in, or any holding or

    disposition of any interest in, another investment entity, business entity or
    organization, whether consummated or not, including expenses related to
    investing with an operating partner, management fees, performance
    compensation and/or reimbursement of overhead expenses paid to joint venture
    managers and other managers and fees and expenses related to the organization
    of joint ventures and other manager funds (to the extent applicable);

•   external legal and compliance fees and expenses (including software expenses
    and fees of third-party service providers and consultants), including regulatory
    reporting expenses, including, but not limited to, expenses incurred in
    connection with complying with applicable U.S. and non-U.S. reporting
    obligations, including those required by the SEC and the Commodity Futures
    Trading Commission, as well as out-of-pocket costs of preparing regulatory
    filings related to the Fund or Magnetar with respect to the Fund (including, but
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Item 7 - Types of Clients

Magnetar provides discretionary, and may at times provide non-discretionary, investment advisory
services to the Clients. Underlying investors in the Clients may include pension plans, financial
institutions, insurance companies, state and municipal government agencies, sovereign wealth
funds, corporations, certain Magnetar Investors, family offices, and other institutional investors
other than those listed herein. All investors in the Clients are subject to applicable suitability and
eligibility requirements as set forth in each Client’s offering, governing documents and/or
separately managed account agreement. To the extent applicable, the minimum initial investment
in the Funds is generally $5 million, subject to change or waiver at the discretion of Magnetar
and/or the Fund’s Board of Directors.