Miura Global Management LLC

ITEM 5 - FEES AND COMPENSATION

Fee Schedules; Calculation and Deduction of Fees

Miura will generally receive a management fee based on the net asset values of each Client account.
Miura will also generally receive performance-based compensation based on the net capital appreciation
of the Client accounts, typically after the Clients have recouped prior losses, if any.

The fees charged to the Funds are described in each Fund’s offering documents. Miura generally
receives a quarterly management fee between 1.0% and 1.5% per annum of the net asset value of each
Fund and annual performance-based compensation of between 10% and 20% of the net capital
appreciation of the Funds, subject to a high-water mark. Fee rates vary based on various factors,
including size of investment and redemption terms. Fund investors that are members, employees or
affiliates of Miura or Miura Global Capital, LLC, relatives of such persons, and certain large or strategic
investors have received and may in the future receive fee reductions or waivers attributable to their
interest in the Funds. Miura deducts the fees directly from the Funds.

Other Fees and Expenses

Additional expenses incurred by Clients include legal, audit and accounting expenses (including third
party accounting services); administrator fees and expenses; valuation fees; organizational expenses;
investment expenses such as commissions, research fees and expenses (including research-related
travel up to 25 basis points of a Fund’s net assets per annum); interest on margin accounts and other
indebtedness; borrowing charges on securities sold short; custodial fees; and any other expenses related
to the purchase, sale or transmittal of a Client’s assets (including but not limited to fees and expenses

relating to filings and regulatory reporting by the Funds or Miura, such as Form 13F and other Section 13
filings, Form D and related state securities filings). The Funds have other expenses, which are described
in each Fund’s offering documents.

Expenses shared by each of the Funds are generally allocated pro rata based on the value of each of the
Funds or as Miura otherwise determines in its discretion in a fair and equitable manner. To the extent that
a Fund is invested in an exchange-traded fund or mutual fund, the Fund will bear, along with other
shareholders, its pro rata portion of the exchange-traded fund’s or mutual fund’s management, trading,
and administrative fees and expenses.

For certain share classes or series, withdrawals or redemptions of capital from a Fund may also be
subject to a redemption fee, payable to such Fund, if certain holding periods are not met, as described in
the relevant offering documents.

Prepaid Fees

The Funds pay the management fee quarterly in advance based on the value of their net assets as of the
beginning of each calendar quarter (adjusted for subscriptions and redemptions made during the quarter).
The management fee is prorated for any period that is less than a full fiscal quarter.

ITEM 7 - TYPES OF CLIENTS

Currently, Miura’s only clients are the Funds which invest into a master-feeder hedge fund structure.
Fund investors are generally required to make a minimum initial investment of $500,000 or $1,000,000
(depending on the Fund) for participation in a Fund, subject to waiver. In addition, Fund investors
generally must meet certain net worth, net assets or other sophisticated investor criteria as set forth in
other securities and commodities laws and regulations.