Newoak Asset Management LLC

Item 5 Fees and Compensation
Description

Under the IAAs, NAM will be paid an investment advisory fee equal to a stated percentage
per annum of the assets under management, and in certain cases subject to a fixed
minimum (the “management fee”) payable quarterly or monthly in advance. NAM will
also receive performance-based fees as more fully described in Item 6 below.

These fees are negotiable.

Payment of Fees

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Under the IAAs NAM invoices clients (or, in the case of the Trust, the Trustee) for its
management fees. NAM is not entitled to withdraw its fees from clients’ accounts.

Other Fees

Under the IAAs, in addition to paying investment management fees (and, if applicable,
performance-based compensation), client accounts will also be subject to other investment
expenses such as custodial and other administrative charges; trustees’ fees, servicers’ fees
and expenses; brokerage fees, commissions and related costs; interest expenses;
securitization expenses and fees; taxes, duties and other governmental charges; transfer,
recording and registration fees or similar expenses; costs associated with foreign exchange
transactions; and other portfolio expenses.

In addition, clients may be required to reimburse NAM or its related persons for certain
organizational and offering expenses in connection with the offering of clients’ securities
to investors.

Prepayment of Fees
Under the IAAs, clients are required to pay NAM’s fees in advance as set forth in the IAAs.

Item 7 Types of Clients

NAM does not have any requirements for opening or maintaining an account.

NAM’s current clients are the Trust, FuturePay Holdings, Inc. (“FPHI”), a fin-tech online
lender for which NAM manages pooled consumer receivables and Orbis Financial
Technologies, Inc. (“OFTI”), a fin-tech firm that provides advances against earned
wages. Both OFTI and FPHI are early-stage ventures, and neither has generated
substantial receivables to date. They are currently on hold until further capitalization
and/or joint partnerships globally and in US.

NAM also provides investment management services to NOC, its parent, with respect to
NOC’s investment portfolio of closely-held early-stage ventures.

NAM has previously offered a private fund, Acorn Trade Finance Fund I, which was
intended to purchase trade finance loans from Acorn. This offering was withdrawn after
acquisition by NAM of the remaining equity interests in Acorn, which was completed

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after December 31, 2023, but prior to the date of this Brochure. NAM intends to offer a
revised version of Acorn Trade Finance Fund I at some future date backed by
commodities and supply chain receivables.