Meketa Capital LLC

Item 5: Fees and Compensation

 All fees are subject to negotiation.

 The specific amount and manner in which fees are charged is established in a client’s written
 agreement. The amount of the fees charged is based on a number of factors, including, but not limited
 to, the scope of services, the complexity of such services and the nature of the client relationship. Fees
 may be billed on a fixed-fee basis or calculated as a percentage of assets under management.

 Advisory Services
 As compensation under the Investment Management Agreement, the Fund pays Meketa Capital a
 monthly Management Fee equal to 1.50% on an annualized basis of the average daily net assets of the
 Fund. We have the ability, but are not obligated, to waive up to 0.50% of the Management Fee on cash
 and cash equivalents held in the Fund from time to time.

 Meketa Capital has entered into an expense limitation and reimbursement agreement (the “Expense
 Limitation Agreement”) with the Fund, whereby Meketa Capital has agreed to reduce the Management
 Fee payable to it (but not below zero), and to pay any operating expenses of the Fund, to the extent
 necessary to limit the operating expenses of the Fund, excluding certain “excluded expenses” as further
 defined in the Fund’s prospectus.

                                                                                    Meketa Capital
                                                                      Form ADV, Part 2A Brochure

Model Portfolio Services
Meketa Capital generally receives compensation in the form of a percentage of assets for its model
portfolio services. These fees are generally negotiable and vary depending on the particular model
offered. Fees related to model portfolios are generally paid to Meketa Capital by the platform hosting
models in accordance with the agreement between the platform and Meketa Capital.

See Item 4: Model Portfolio and RIA Services above for information on fee waivers for certain
recommendations made in the delivery of model portfolio services.

Item 7: Types of Clients

Meketa Capital provides investment advisory services to registered investment companies under the
Investment Company Act of 1940. Currently, we only provide advisory services to one registered
investment company.

For its model portfolio and research services, Meketa Capital generally provides non -discretionary
models via third-party platforms to other registered investment advisers.

We do not have any minimum requirements (such as minimum account size) for an advisory
relationship.