Maltese Capital Management LLC

Item 5. Fees and Compensation

Asset-Based Compensation

The Adviser is paid an investment management fee on each of the Funds, which ranges from 0.5% (per
annum) to 1.25% (per annum) of the assets of each particular Fund.

Investment management fees are charged to the Funds each fiscal quarter in advance based on their net
asset value on the first day of the fiscal quarter. If an investor in a Fund invests other than as of the
beginning of the quarter or an investor in a Fund makes an addition to its investment during a quarter the
investment management fee will be charged as of the effective date of the investment and will be
prorated for the number of months remaining in the quarter. Under certain limited circumstances, these
fees are negotiable.

Fees relating to SMAs are negotiated separately, and asset-based fees for SMAs are included in the
SMA Agreements.

Performance-Based Compensation

The Adviser and affiliates of the Adviser may be paid a performance-based fee, which is compensation
that is based on a share of capital gains on or capital appreciation of the assets of a Fund. This
performance-based compensation ranges from 10% to 20%, and is subject to a high water mark in each
case. Under certain limited circumstances, these fees are negotiable.

Except to the extent the Adviser collects fees via invoice to Fund investors, the Adviser deducts the fees
from the Funds by instructing the Fund's custodian.

Fees relating to SMAs are negotiated separately, and performance-based compensation for SMAs is
included in the SMA Agreements.

Other Fees and Expenses

In addition to paying investment management fees and performance-based fees, the Funds also bear
other investment expenses (e.g., brokerage fees and commissions and interest expense), and all of their
other operating expenses, including without limitation legal (including, but not limited to the costs of any
litigation or investigation), accounting and consulting expenses, auditing and tax preparation expenses,
telephone, news, quotation and computer equipment and services (including the costs of accounting
software), dues and subscriptions, travel (e.g., meals, lodging and airfare) and entertainment expenses
incurred for research and investment related purposes (including, for the avoidance of doubt, travel (e.g.,
meals, lodging and airfare) related to research and investment activities), expenses relating to the offer
and sale of Fund interests and other expenses related to the Funds, including, without limitation, fees
related to regulatory filings and preparation of filings (including, without limitation, Form PF, Section 13
filings, Section 16 filings and other similar regulatory filings), government licensing of Funds, registered
office and registration of Funds, anti-money laundering compliance costs (including fees for the
engagement of anti-money laundering officers), fees and expenses of the Funds’ administrator, director’s
fees and expenses, corporate secretarial fees, insurance expenses (including premiums for cybersecurity
insurance and liability insurance (e.g., insurance plans covering directors, officers and executives)
covering Fund directors, the Adviser and its affiliates), Fund formation expenses, database and investor
transparency reporting expenses, and entity-level taxes.

To the extent that expenses to be borne by a Fund are paid by the Adviser or an affiliate, the Fund will
reimburse such party for such expenses. For additional information on other types of fees or expenses

charged to the Funds, please see the relevant Fund’s confidential private placement memorandum and
other governing documents.

Fees and expenses relating to SMAs are negotiated separately, and expenses born by the SMAs (which
include a pro rata share of certain expenses in common with the Funds) are included in the SMA
Agreements.

Please refer to Item 12 of this Firm Brochure for a discussion of the Adviser’s brokerage practices.

Item 7. Types of Clients

The Adviser’s clients consist of private investment funds and separately managed accounts.

Any initial and additional minimum investment amounts are disclosed in the offering memorandum for
each Fund and each SMA Agreement.