Meson Quantitative Management LLC

Item 5. Fees and Compensation

Funds
Management Fee
The fees applicable to each Fund are set forth in the corresponding Governing Documents. A
summary of such fees is provided below.

With respect to any Class A Limited Partner, the General Partner will receive a monthly management
fee, calculated at an annual rate of 2.0% (the “Management Fee”) of such Class A Limited Partner’s
Capital Account

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Meson Quantitative Management LLC                                           Form ADV Part 2A Brochure

The Management Fee will be calculated and paid monthly in arrears, based on the value of each
Limited Partner’s Capital Account, as of the last day of the calendar month. The General Partner may
elect to reduce, otherwise modify or waive the Management Fee with respect to any Limited Partner.
If Capital Contributions are made at any time other than at the beginning of a calendar month, a pro
rata portion of the Management Fee will be paid to the General Partner in respect of such Capital
Contribution (based on the actual number of days remaining in such partial month). If Capital
Accounts are withdrawn at any time other than at the end of a calendar month, a pro rata portion
of the Management Fee will be paid to the General Partner for such partial month (based on the
actual number of days elapsed in such partial month).

With respect to any Shareholder holding Class A Participating Shares, the Investment Manager will
receive a monthly management fee, calculated at an annual rate of 2.0% (the “Management Fee”)
of the Net Asset Value of the Class A Participating Shares.

The Management Fee will be calculated and paid monthly in arrears, based on the Net Asset Value
of each Class A Shareholder’s Shares as of the last day of the calendar month. The Investment
Manager may elect to reduce, otherwise modify, or waive the Management Fee with respect to any
Shareholder. If subscriptions are made at any time other than at the beginning of a calendar month,
a pro rata portion of the Management Fee will be paid to the Investment Manager (based on the
actual number of days elapsed in such partial month). If Shares are redeemed at any time other than
at the end of a calendar month, a pro rata portion of the Management Fee will be paid to the
Investment Manager for such partial month (based on the actual number of days elapsed in such
partial month).

The Investment Manager may, in its sole discretion, elect for the Management Fee to be paid by the
Master Fund on behalf of the Fund. To the extent the Management Fee is paid by the Master Fund,
no Management Fee will be paid directly by the Fund.

Sub-Advised Funds
The fees applicable to each Sub-Advised Fund are separately negotiated and set forth in the
respective advisory agreement or investment management agreement. Additionally, any expenses
borne by the Sub-Advised Funds are set forth in the respective advisory agreement or investment
management agreement.

Separately Managed Accounts
The fees applicable to each SMA are separately negotiated and set forth in the respective
investment management agreement. Additionally, any expenses borne by the SMAs are set forth
in the respective investment management agreement.

Other Types of Fees or Expenses
The Funds are responsible for their own operating expenses and, where applicable, its pro rata share
of expenses of the Master Fund. These expenses broadly include: management fees; investment-
related costs (such as brokerage, exchange fees, research, market data, custody, vault storage for
private keys, and risk management services); administrative and professional expenses (legal,
accounting, auditing, compliance, record-keeping, and tax preparation); middle-office services;
third-party service providers; investor communications; insurance (e.g., D&O and E&O); marketing
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Meson Quantitative Management LLC                                              Form ADV Part 2A Brochure

and syndication costs; taxes and regulatory fees (including Blue Sky filings); FATCA/CRS and AML
compliance costs; indemnification obligations; litigation, investigation, and regulatory inquiry costs;
organizational expenses; and any extraordinary expenses.

Where expenses benefit multiple entities in the structure (e.g., the Fund, Master Fund, or other
feeder funds), they are generally allocated on a pro rata basis based on capital, unless the
Investment Manager determines another equitable allocation or the expense is clearly attributable
to a specific entity. Within the Fund, expenses are typically allocated pro rata among shareholders
based on their Net Asset Value.

The General Partner or Investment Manager bears its own internal operating expenses, such as
office space, utilities, equipment, software, and personnel costs, unless those expenses are
specifically assumed by the Fund or paid through permitted commission dollars.

The Fund also pays Organizational Expenses, which include costs associated with forming and
organizing the Fund and related vehicles (such as the Master Fund and other feeder funds), offering
and selling interests or shares, and negotiating and executing key governing and investment
management documents (including partnership agreements, side letters, and related agreements).
These expenses may include related legal, accounting, travel, and filing costs.

At the discretion of the General Partner or Board of Directors, Organizational Expenses may be
amortized over a 60-month period from the Fund’s commencement of operations. However, this
treatment does not comply with U.S. GAAP, which generally requires such costs to be expensed
when incurred. If the difference is material, auditors may issue a qualified or exception opinion in
the Fund’s audited financial statements. The General Partner or Board may also accelerate the
amortization schedule at its discretion.

Item 7. Types of Clients

Meson Quantitative provides discretionary investment advisory services to private funds, sub-
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Meson Quantitative Management LLC                                              Form ADV Part 2A Brochure

advised funds and separately managed accounts. Investors in the Funds and separately managed
account clients may include institutions, pension plans, endowments, high net-worth individuals,
trusts, funds of funds, charitable organizations, financially sophisticated individuals, and other
sophisticated investors that meet certain qualification requirements.

The minimum investment for the Funds is $1,000,000. The General Partner may waive the minimum
investment requirement for any investor and may raise it in the future. There are no minimum
investment requirements with respect to the Sub-Advised Funds or SMA clients.