Maritime Partners LLC

Item 5: FEES AND COMPENSATION

Items 5.A., 5.B., and 5.C.

Maritime Partners receives fees from its advisory Clients in connection with the Firm’s asset management
and investment advisory services on behalf of the advisory Clients. Generally, fees are not negotiable;
however, in certain cases, the Firm has negotiated alternative fee arrangements with Investors, for

example by way of a “side letter” agreement. The fees are typically billed to the advisory Client account
and paid from the assets of such account.

An overview of Maritime Partners’ fee schedule is summarized below.

Management Fee

Maritime Partners manages several different Funds with different terms related to management fees.
Depending upon the specific Fund’s Governing Documents and related “side letter” agreements, if any,
management fees are, generally: (i) paid monthly in arrears in an amount equal to 0.125% (the monthly
equivalent of 1.50% per annum) of each Fund Member’s pro rata share (based on equity ownership) of
the initial acquisition cost (including any portion thereof that is financed with debt) of assets then owned
by the applicable Fund, (ii) paid monthly in arrears in an amount equal to 0.1667% (the monthly equivalent
of 2.0% per annum) of the aggregate contributions of each Fund Member to the applicable Fund, (iii) paid
monthly in arrears in an amount equal to the monthly equivalent of 1.0% per annum of the lesser of (x)
each Fund Member’s pro rata share (based on equity ownership) of the aggregate net asset value of the
applicable Fund and (y) the aggregate contributions of each Investor to the applicable Fund, (iv) paid
monthly in advance in an amount equal to 0.08333% of the acquisition cost of the vessels then owned by
such Fund or (v) paid monthly in advance in an amount equal to a daily fee based on the number of actual
days elapsed in such month.

Other Fees and Expenses

The Funds pay for all of their own expenses as detailed in the Governing Documents of each such Fund
which includes, but is not limited to, (i) all fees, costs and expenses, if any, incurred in evaluating,
negotiating, structuring, acquiring, appraising, selling, financing, refinancing or otherwise dealing with
investments pursued for such Fund (whether or not the Fund actually acquires such investments),
including fees for any travel costs, legal, due diligence, investment banking, financing or underwriting
costs, reporting, projections, valuation, tax and accounting expenses and other fees and out-of-pocket
costs related thereto; (ii) all fees, costs and expenses, if any, incurred in relation to the holding,
monitoring, management, appraising, or otherwise dealing with investments, including any travel, legal,
audit, financing, appraisal, insurance consulting, brokerage, inspection, indemnification and accounting
expenses and other fees and out-of-pocket expenses related thereto; (iii) indemnification expenses
incurred or related to any investment of a Fund, and any other extraordinary administrative or operating
fees or expenses; and (iv) insurance (including, but not limited to, liability, casualty and other insurance
expenses as Maritime Partners determines to be necessary, appropriate, or advisable for the protection
of the assets and affairs of a Fund or for any other purpose beneficial to a Fund). Subject to the terms of
the applicable Fund’s Governing Documents, to the extent that Maritime Partners determines, in good
faith, that an expense (i) is applicable or otherwise beneficial to a Fund (or a Fund’s investors) and (ii) has
been clearly disclosed to investors as an expense that will be borne such Fund, then such expense may, at
Maritime Partners’ discretion, thereafter be treated as a Fund expense.

Please refer to Item 12 of this brochure for a discussion of Maritime Partners’ brokerage practices.

Item 5.D. Timing of Fee Payments

As described above, management fees (whether they accrue on a monthly, daily or other basis) are
payable monthly. When the circumstance arises, the Management Fee is prorated with respect to any
partial periods. If necessary, Maritime Partners will rebate any fees directly to its Fund Members as and
when appropriate in accordance with the Governing Documents and any “side letter” agreements.

Item 5.E. Receipt of Compensation for Sales

Not applicable. Neither Maritime Partners nor any of its supervised persons accept compensation for the
sale of securities or other investment products.

Item 7: TYPES OF CLIENTS

As set forth above in Item 4 of this brochure, Maritime Partners’ clients are the Funds (Maritime Partners
anticipates that additional Funds will be formed in order to facilitate various investments). Fund Members
are required to review various offering materials, sign subscription documentation, and take other
required steps.

At least one of the Funds requires minimum capital commitments and/or investments of at least
$5,000,000, which amount may be waived or reduced at the sole discretion of the managing member of
such Fund(s).