Matrix Capital Management Company LP

Item 5 – Fees and Compensation

The fees applicable to each Fund are set forth in detail in each Fund’s governing documents
(“Governing Documents”). Generally, the Firm is paid a fee for its advisory services (the
“Management Fee”). Additionally, the General Partners may receive incentive allocations or
carried interest (as applicable) (“Performance Allocation”).

The Firm may, and has, in its discretion, agreed to waive all or a portion of the Management Fee
with respect to a capital account or, with the consent of the investors, charge a Management Fee
on a different basis or at a different rate. The Firm has the discretion to waive the payment of any
Management Fee or Performance Allocation. The Firm reduces or waives Management Fees
and/or Performance Allocation for certain affiliates and related persons of the Firm, including,
without limitation, limited partners that are employees or partners of the Firm and/or their
immediate family members, and accounts established for the benefit of such persons.

As more fully described in each Fund’s respective Governing Documents, the Funds will generally
bear expenses in connection with their organizational matters and investment activities, in certain
cases subject to an expense cap. The Firm will allocate expenses in accordance with its expense
allocation policies and procedures. Certain expenses are the obligation of a particular Fund and are
borne by such Fund. Conversely, certain expenses relate to more than one Fund and in such
instances are generally allocated among such Funds on a pro rata basis.

Neither Matrix, AyurMaya or any of its supervised persons accept any other forms of
compensation.

A.     Matrix Capital Management Company, LP

Management Fee

Matrix is paid a Management Fee, payable quarterly in advance, with respect to each capital
account. Effective as of January 1, 2025, the Management Fee from the Matrix Funds is equal to
0.25% (1% annualized) of such capital account’s balance. The Management Fee is calculated and
payable as of the first day of each calendar quarter, giving effect to any contributions on that day.
A pro rata Management Fee is assessed on any capital contributions accepted as of any date other
than the first day of the quarter and charged to the capital account of the contributing investor. If
an investor withdraws all or a portion of the balance of a capital account other than on the last
business day of a calendar quarter, Matrix will repay to the Matrix Fund for disbursement to the
withdrawing investor a pro rata portion of the Management Fee charged to such capital account.
Without consent of the investors, the Management Fee may be charged to, and paid by, the Master
Fund, instead of the Feeder Funds.

Performance Allocation

Matrix receives a Performance Allocation generally equal to 20% of realized and unrealized net
profits of each Feeder Fund for each fiscal year; provided, that each such Fund maintains a
bookkeeping account to determine the high-water mark (a “Loss Recovery Account”) that must be
exceeded before the performance-based compensation with respect to an investor in a Matrix Fund
is charged at a rate of 20%. The Loss Recovery Account of each investor in a Matrix Fund
commences at zero. As of each adjustment date, the Loss Recovery Accounts of each Matrix Fund
is either (i) increased by an amount equal to two and one-half times (250%) of any net loss
allocated for such fiscal period or (ii) decreased (but not below zero) by the amount of any net
profit allocated for such fiscal period. An investor will bear a Reduced Performance Allocation
equal to 10% of its realized and unrealized net profits until the balance of its Loss Recovery
Account is reduced to zero, and a Performance Allocation at the 20% rate thereafter. Unless
otherwise determined by Matrix, in the event that a Matrix Fund is terminated or an investor
withdraws or redeems other than at the end of a fiscal year, then for purposes of determining the
applicable Performance Allocation, net capital appreciation will be determined as if such dates
were the end of the fiscal year, subject to certain adjustments.

Effective October 1, 2025, Matrix adopted changing the performance fee from a traditional
"hedge fund" arrangement calculated on the basis of realized and unrealized gains and looses to a

traditional "private equity style" waterfall. The new performance compensation structure will be
a back-ended, European-style waterfall model. Under this structure, Matrix will not receive its
performance compensation (in the form of “carried interest”) until all investors have received (x)
a full return of their capital account balances as of October 1, 2025, and (y) a full recovery of the
Loss Recovery Account calculated as of September 30, 2025, consistent with the methodology
used under the existing hedge fund fee arrangement. Any carried interest distributions will be
subject to an after-tax clawback if, upon the final liquidation of the Fund, Matrix actually
receives carried interest distributions in excess of the carried interest distributions it is entitled to
receive under the distribution waterfall (net of taxes to which Matrix and its members bear in
respect of such carried interest distributions). In addition, to accommodate the Matrix’s
(and its partners’) periodic tax obligations with respect to allocations of income in respect of
carried interest, the Fund will allow the Matrix to receive distributions to cover taxes on such
allocated taxable income. Importantly, the Fund will no longer apply the modified high-water
mark provision in connection with calculating performance compensation. The carried interest
“rate” will be fixed at 10% across all investors. Under the new performance compensation
structure, there will be no preferred return or catch-up provision.

Expenses

Matrix bears its own overhead expenses incurred in connection with managing the Matrix Funds,
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Item 7 – Types of Clients

Matrix and AyurMaya provide investment advisory services to the Matrix Funds and AyurMaya
Fund, respectively. The Funds are formed as partnerships and limited companies in the U.S. and
Cayman Islands. Interests in the Funds were offered pursuant to applicable exemptions from
registration under the Securities Act of 1933 (“Securities Act”) and the 1940 Act. Investors in the
Funds are generally “qualified purchasers” or “knowledgeable employees,” each as defined in the
1940 Act (and rules promulgated thereunder) and may include, among others, U.S. and foreign-
based high net worth individuals, corporations, trusts, institutions, financial institutions, and
government entities. The Matrix Funds and AyurMaya Fund impose a minimum initial investment
of $5 million, which may be waived at the discretion of Matrix and AyurMaya respectively.