MICA Creek Capital LLC

Item 5: Fees and Compensation

Asset-Based Compensation

MCC charges each fund client an investment management fee based on the value of the fund
client’s assets under management (as an annual percentage of assets) of up to 1.0%. Asset-based
fees received from any non-fund clients are set forth in the Governing Documents of such
Managed Accounts.

Generally such asset-based investment management fees are charged each month:

▪   in advance based on the net market value of the assets in the client account (including net
    unrealized appreciation or depreciation of investments and cash, cash equivalents and
    accrued interest) on the first day of the month, or
▪   in advance based on the fair market value of the assets in the client account (including
    unrealized appreciation or depreciation of investments and cash, cash equivalents and
    accrued interest) on the first day of the month, or
▪   based on the fair market value of the assets in the client account (including unrealized
    appreciation or depreciation of investments and cash, cash equivalents and accrued interest)
    on the last day of the month.

The asset-based investment management fee will be prorated for partial periods. These fees are
negotiable and are typically waived or reduced for MCC and its members, employees and
affiliates, relatives of such persons, and for certain large or strategic investors.

Item 7: Types of Clients

MCC serves as the investment manager to one or more fund clients and the Managed Account
clients. Fund clients advised by MCC are exempt from registration under the Investment
Company Act of 1940, as amended (the “Investment Company Act”), pursuant to Section 3(c)(1)
or Section 3(c)(7) of such act. Investors in the fund clients relying on the exemption provided by
Section 3(c)(7) of the Investment Company Act are required to represent that they meet the
requirements of a “qualified purchaser” as such term is defined in Section 2(a)(51) of the
Investment Company Act and are required to make other investor suitability representations. The
Managed Account clients consist of institutional investors.

Minimum investment requirements for fund clients can be as high as $100,000, although MCC
reserves the discretion to reduce or waive such minimum investment requirements. There is no
fixed minimum account size required for Managed Accounts, although the size of such account
is, in general, significantly in excess of the minimum investment required for fund clients.