MSR Capital Partners LLC

ITEM 5 - FEES AND COMPENSATION
Management Fee

Sub-Advisory Management Fee. In consideration of acting as a sub-adviser, MSR receives annual
compensation from the Fund of up to 0.25% of the net asset value (plus any applicable value-added
tax) that we manage. Our sub-advisory management fee (the “Management Fee”) is billed
quarterly in arrears. In rare cases, the Management Fee may be collected in advance if the Firm
requires it to ensure its liquidity. Fees and expenses are calculated and applied by the Fund.

Pursuant to the Fund’s governing agreements, the Management Fee payable for any fiscal quarter
will be reduced by 100% of the Limited Partners’ pro rata share (based on their respective
subscriptions) of certain fees, rebates or commissions received by the Adviser, the general partner,
or their respective affiliates in connection with portfolio investments (“Fees Subject to Offset”),
unless otherwise provided. The Management Fee for any Limited Partner will not be reduced below
zero for any fiscal quarter. To the extent such Fees Subject to Offset exceed the Management Fee
otherwise payable for a given quarter, the excess amount will be carried forward and applied to
reduce Management Fees in subsequent quarters.

In addition, if any Fees Subject to Offset remain unutilized at the time of the final liquidation of the
Fund or any applicable sub-fund, such excess amounts will be returned to Limited Partners in
proportion to their respective shares of Management Fees paid, unless a Limited Partner elects in
writing to decline such return. Fees Subject to Offset generally include any fees, rebates, or

commissions received by the Adviser, the general partner, or their affiliates in connection with the
Fund’s investments, net of unreimbursed out-of-pocket expenses and applicable taxes, as further
described in the governing agreements.

Consulting Services Fee. In consideration of providing consulting services, as described above,
the Firm negotiates fees with each Insurance Client based on the scope, complexity, and nature of
the services to be provided under the applicable Service Agreement. Fees may be structured in a
variety of ways, including as an annual fixed fee or as a fee calculated based on a rate applied to
assets under advisement (“AUA”). The specific fee arrangement, including the methodology used
and any applicable billing terms, is set forth in the client’s Service Agreement.

Termination of the Advisory Relationship

The Investment Advisory Agreement may be terminated by either party, without cause, upon written
notification as set forth in the Investment Advisory Agreement. If the Investment Advisory
Agreement is terminated during a quarter, we will refund a pro rata portion of any fees paid at the
beginning of the quarter, based on the number of days actually remaining in such quarter following
the withdrawal date.

Termination of the Service Relationship

The Service Agreement may be immediately terminated by either party in writing without requiring
any formal demand.

Compensation for Sale of Securities or Other Investment Products

Neither our Firm nor any of the Members’ or the Firm’s employees receive any transaction-based
compensation for the sale of securities or other investment products.

ITEM 7 - TYPES OF CLIENTS
MSR provides non-discretionary sub-advisory services to its affiliate, LGT CP Dublin, as it relates
to the Fund and affiliated group insurance companies.