Newbrook Capital Advisors LP

Item 5. Fees and Compensation

This brochure is only delivered to qualified purchasers and therefore does not contain our
advisory service fee schedule.

We (or our affiliate) typically receive from our clients, an asset-based management fee and
performance-based compensation.

We deduct the asset-based management fee from our Fund Clients’ accounts monthly or
quarterly in advance, as applicable. The asset-based management fee is calculated and
determined based on investor capital accounts with respect to our domestic Fund Clients or, in
the case of our offshore Fund Clients structured in a “mini-master” structure, at the feeder-fund
level, based on share the net asset for our offshore feeder Fund Client.

Investors in our Fund Clients may only make a withdrawal on the last day of the quarter (or
month, as applicable), so they will likely never pay an asset-based fee with respect to any period
following the withdrawal of their assets.

With respect to our Fund Clients, the annual performance-based compensation is made as an
allocation to our affiliate as the general partner of our domestic Fund Clients or, in the case of
our offshore Fund Clients, at the master-fund level as the general partner of the master fund. The
performance-based allocation is calculated and determined at the end of each year based on
annual net capital appreciation (subject to a “high water mark” formula) of investor capital
accounts with respect to our domestic Fund Clients and, for our offshore Fund Clients, is
calculated and determined utilizing memorandum capital sub-accounts in the master fund that
relate to the sub-series of shares of investors in the feeder fund.

Performance-based compensation is also calculated when investors make a withdrawal (but only
with respect to the amount withdrawn). The respective offering documents of our Fund Clients
contain further details of the calculation and determination of the asset-based management fee
and the performance-based allocation.

We have the general discretion to waive or modify the asset-based management fee and/or the
performance-based allocation (including modifying the percentage rate and method of
calculation), and have previously done so.

Our Fund Clients bear all of their own expenses, which for our offshore feeder Fund Client,
includes the expenses of the master fund, as provided for in our Fund Clients private placement
memoranda and governing documents. The lists below are detailed but do not contemplate every
possible expense that a client may incur.

The expenses that our Fund Clients pay pertaining to researching and executing investment
transactions related to portfolio investments or prospective investments, when applicable,
include:

   •   interest and commitment fees on debit balances or borrowings;
   •   borrowing charges on securities sold short;
   •   custodial fees;
   •   proxies;
   •   brokerage commissions;
   •   trade processing fees, including clearing and settlement charges;
   •   research fees and materials (including online news and quotation services);
   •   costs of any outside appraisers, accountants, attorneys or other experts or consultants
       engaged in connection with specific transactions;
   •   bank charges;
   •   withholding and transfer taxes; and
   •   other ordinary miscellaneous research and trade-related expenses of the respective Fund
       Client.

Our Fund Clients pay for expenses related to their operations, when applicable, including:

   •   governmental, regulatory, licensing, filing, registration or compliance costs, expenses and
       fees in compliance with rules of self-regulatory organizations or federal, state or local
       laws;
   •   costs and expenses associated with organizational expenses;
   •   costs of preparing and providing information to or holding meetings with investors;
   •   legal costs (including settlement costs);
   •   accounting fees and expenses (including tax and audit);

   •   costs and expenses of outside appraisers, pricing services, experts or others to facilitate
       valuations;
   •   insurance;
   •   independent director fees;
   •   administrator fees; and
   •   other ordinary miscellaneous operating and out-of-pocket expenses of the respective
       Fund Client.

For more information on brokerage transactions and costs, please see Item 12: Brokerage
Practices.

Neither we nor any of our principals or employees receive any transaction-based compensation
for the sale of securities or other investment products.

Item 7. Types of Clients

Our clients are private pooled investment vehicles (hedge funds), as also described in Item 4:
Advisory Business.

The investors in our Fund Clients are generally required to make a minimum investment of
$1,000,000. We have the discretion to, and on occasion may, accept subscriptions for a lesser
amount.

This firm brochure is not an offer to invest in our Fund Clients.

Item 8. Method of Analysis, Investment Strategies and Risk of Loss

We base our security selection on fundamental business and security analysis. In making our
investment selections, we rely on several factors: (i) market valuation, (ii) competitive market
position, (iii) profit and growth outlook, (iv) management capabilities, (v) capital structure and
(vi) cash flow generation properties. We also rely on numerous sources of publicly available
information to make our decisions, including, but not limited to, management teams of potential
portfolio companies and their competitors, suppliers and customers, SEC filings, research
reports, industry investors, analysts and consultants.

In addition, we have a process for screening and sizing investment positions. The purpose is to
create additional oversight in the investment process, and to help us maximize our opportunities
by sizing them correctly.

Despite our thorough research and analysis and comprehensive investment strategies, investing
in securities involves a risk of loss that any clients and investors in our clients must be prepared

to bear. Please see below for a detailed explanation of the investment strategies we employ and
some of the significant risks associated with them. Certain risks applicable to short-selling do
not apply with respect to one of our Fund Clients, who has a long-only investment strategy and
does not sell securities short.

Certain risks associated with an investment in our clients include:

   •   Investment Judgment and Market Risk: The success of our investment programs depends,
       in large part, on correctly evaluating future price movements of investments. We cannot
       guarantee that we will be able to accurately predict these price movements and that our
       investment programs will be successful.
   •   Investment and Trading Risk: Investments in securities and other financial instruments
       involve a degree of risk that the entire investment may be lost. The use of short sales and
       option trading can, in certain circumstances, substantially exacerbate the impact of
       unfavorable price movements on our clients’ investments. Also, changes in the general
       level of interest rates may negatively affect our clients’ results.
   •   Financial Markets and Regulatory Change: The instability pervading global financial
       markets heightens the risks associated with the investment activities and operations of
       investment management organizations, including those resulting from a reduction in the
       availability of credit and the increased cost of short-term credit, a decrease in market
       liquidity and an increased risk of bankruptcy of third parties with which we work.
       Market disruptions over the recent years and the increase in capital allocated to hedge
       funds and other alternative investment vehicles have led to increased scrutiny and
       regulation over the private investment fund and asset management industry. In addition,
       the laws and regulations affecting business and applicable to our clients, especially those
       involving taxation, investment and trade, can change quickly and unpredictably in a
       manner adverse to our clients’ interests.
   •   Cybersecurity Risk. The information and technology systems of not only our firm but
       also our clients’ portfolio companies or third-party service providers may be vulnerable to
       damage or interruption from computer or telecommunication viruses, failures, infiltration
       by unauthorized persons and security breaches, usage errors, power outages and
       catastrophic events. Although we have implemented, and portfolio companies and
       service providers have likely implemented, various measures to manage risks relating to
       these types of events, if these systems are compromised, become inoperable for extended
       periods of time or cease to function properly, our firm, our clients, portfolio companies
       and/or service providers, as applicable, may have to make a significant investment to fix
       or replace them. The failure of these systems and/or of disaster recovery plans for any
       reason could cause significant interruptions in our firm’s, our clients’, portfolio
       companies’ and/or service providers’ operations and result in a failure to maintain the
       security, confidentiality or privacy of sensitive data, including personal information
       relating to investors in our clients (and, to the extent applicable, the beneficial owners of
       investors). These failures could harm our firm’s, our clients’, a portfolio company’s
       and/or a service provider’s reputation.
   •   General Economic Risk. Our business is materially affected by conditions in the global
       financial markets and economic conditions or events throughout the world that are
       outside of our control, including, but not limited to, changes in interest rates, availability

       of credit, inflation rates, economic uncertainty, slowdown in global growth, changes in
       laws (including laws relating to taxation and regulations on the financial industry),
       disease, pandemics or other severe public health events, trade barriers, commodity prices,
       currency exchange rates and controls and national and international political
       circumstances (including government shutdowns, wars, terrorist acts or security
       operations). These factors may affect the level and volatility of securities prices and the
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