Mill Hill Capital LLC

Item 5 - Fees and Compensation

Mill Hill does not have a standard fee schedule. Mill Hill charges a management fee and a performance or
incentive fee for investment advisory services. This management fee is generally expressed as a
percentage of net asset value of an account and is approximately 1.5% per annum for Mill Hill Credit
Opportunities Master Fund Clients, 0.75% per annum for Mill Hill Convex Credit Fund Clients and 1% for
Mill Hill Structured Opportunities Fund Clients. Although Mill Hill expects that the management fees
charged to its Clients in the future will be calculated in a similar manner, management fees for certain
Clients may be a lower amount and may also be based on gross or net assets and may be calculated
utilizing cost, par value, fair market value or other mutually agreed-upon measures. The management fee
is generally calculated in advance and debited from an account monthly. Mill Hill may reduce management
fees based on increases in the net asset value of its Funds under management. For Fund Clients, Mill Hill
also generally receives a performance fee (10 to 20% for MHCOMF, 15% or 20% above a hurdle for MHCC,
and 14% to 16% above a hard hurdle of 4% for MHSCO) of the net capital appreciation above a high-water
mark and hurdle (if applicable) of each sub-series of shares or limited partner interest, subject to certain
limitations. Performance Fees are generally calculated and accrued monthly and paid on an annual basis
or upon a redemption or withdrawal. The performance-based fee will be charged in compliance with Rule
205-3 of the Investment Advisers Act of 1940, as amended. Such performance fee may be subject to a
“high-water mark” or loss carry-forward provision and/or may be payable only to the extent that a certain
minimum rate of return is achieved.

The Investment Manager and the Funds have entered into arrangements with certain Limited Partners
whereby certain Limited Partners will receive a portion of the Mill Hill’s management fee and performance
fee, which will, in effect, reduce the amount of the management fees received by Mill Hill. This
arrangement also applies to future fees that Mill Hill may receive.
Disclosure regarding fees, expenses, and other information applicable to a Fund are set forth in each
Fund’s offering and other constituent documents.

Item 7 – Types of Clients

Mill Hill currently provides advice to the Funds and may in the future provide investment advice to other
Funds and Separate Accounts. With respect to prospective U.S. investors in the Funds, Mill Hill expects
to seek investments from high net worth individuals, investment companies, corporations and other
institutional investors. The minimum initial investment would generally be $2,500,000 (or a lessor amount
deemed acceptable by the General Partner) and would be limited to investors which are both “accredited
investors” (“Accredited Investors”) as defined in Rule 501(a) of Regulation D of the Securities Act of 1933,
as amended, and “qualified purchasers” (or “knowledgeable employees”) as defined in the Investment
Company Act of 1940, as amended. Fund Investors will also be required to complete a subscription

agreement and related questionnaire designed to establish their investment sophistication. Mill Hill may
in its discretion waive the minimum investment amount for certain Fund Investors, including affiliated
investors. Mill Hill may impose additional restrictions on prospective investors which are not U.S. persons.
Investors in Separate Accounts are generally also limited to institutional persons who are “Accredited
Investors.”