Nine Left Capital LP

Item 5. Fees and Compensation

Our fees and compensation are described fully in our Funds’ Governing Documents. All of our clients are
“qualified purchasers” (as defined in Section 2(a)(51) of the Investment Company Act of 1940, as
amended). We are paid management fees from the Funds quarterly in advance. We deduct such
management fees from each Fund. Once paid, the management fees will be non-refundable. We have the
right, and have, to reduce or waive the management fee payable with respect to any investor and have
done so with respect to certain investors.

The Nine Left Fund GP is entitled to receive performance-based allocations from the Funds, as further
described in Item 6 – Performance-Based Fees and Side-By-Side Management.

In general, the Funds bear all of their operating expenses, such expenses include, without limitation: (a)
organizational and offering expenses; (b) expenses associated with all investments and transactions
considered, evaluated and/or consummated by the Funds, as well as overall consideration and evaluation
of the Funds’ portfolio, including, without limitation, those expenses incurred before the initial closing of
the Funds, including, without limitation, expenses associated with sourcing, negotiating, investigating,
researching, financing and structuring of investments and potential investments, whether or not
consummated, including, without limitation, data and research onboarding, ingestion, aggregation,
analysis, third-party research, data (including, without limitation, market data, risk data, factor data, big
data, and alternative data), analytics, modeling, risk, structuring, pricing, execution and other third-party
information systems, including, without limitation, installation and maintenance, information technology
hardware, software or other technology and service fees (including, without limitation, the expenses with
respect to data, data feeds, subscriptions, expert networks, political intelligence providers and reports);
(c) the costs of research-related computer hardware and software expenses, including, without limitation,
Bloomberg terminals and subscriptions and other market information systems, as well as the costs of
research management systems and corporate access tracking systems; (d) the costs of Nine Left’s portfolio
management system and any other software used for accounting and/or monitoring of the portfolio,
including, without limitation, subscriptions relating to, among other things, trading and order
management systems and services; (e) expenses associated with holding, financing, monitoring, hedging,
maintaining and disposing of all investments of the Funds and all transaction and other costs associated
therewith, including, without limitation, expenses associated with proxy research and voting services;
(f) travel and related expenses for research and investment purposes; (g) professional fees associated with
investments and potential investments, including, without limitation, consulting, due diligence,
accounting, valuation, financial, legal and other advisory fees and expenses; (h) transaction fees,
placement fees, brokerage commissions, custodial fees, clearing and settlement charges, bank service
fees, and similar fees and expenses associated with the acquisition, disposition and settling of investments
and potential investments, including, without limitation, in connection with outsourced trading;
(i) expenses associated with legal and regulatory filings of the Funds in the United States, the Cayman
Islands, or in any other jurisdiction (including, without limitation, pursuant to Sections 13 and 16 of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), as well as the expenses associated
with the preparation and filing Nine Left’s Form 13F, Form 13H and Form PF, if applicable, and any other
similar filing in any other U.S. or non-U.S. jurisdiction; (j) administrative, custodial, appraisal, valuation,
legal, regulatory, compliance, consulting, advisory and similar fees and expenses associated with the
Funds’ operations, investments and transactions, including, without limitation, fees and expenses of the
Funds’ administrator (“Administrator”) and fees of any service provider engaged to verify the work of the
Administrator, which include, but are not limited to, valuation agents, or regulatory matters with respect
to the Funds and any anti-money laundering officer fees with respect thereto; (k) expenses incurred in
connection with responding to requests or inquiries from any U.S. federal, state, local or non-U.S.
governmental entity or authority, regulatory body or self-regulatory organization with respect to the

Nine Left Capital LP                                                                      Form ADV Part 2A
Funds; (l) costs and expenses of leverage or any other borrowings of the Funds, including, without
limitation, financing costs, bank service fees and interest charges and fees; (m) expenses incurred in the
collection of monies owed to the Funds, as applicable; (n) auditing and accounting expenses of the Funds,
including, without limitation, expenses associated with the preparation of financial statements, tax returns
and Schedules K-1 and the fees and expenses of the auditor; (o) broken-deal, failed transaction, break-up
and similar fees, costs and expenses (if any); (p) any entity-level taxes, fees or other governmental charges
on the Funds, including, without limitation, any withholding taxes not due to the status or noncompliance
of a particular investor; (q) costs and expenses associated with investor communications and reports and
the delivery thereof to investors, as well as costs and expenses associated with preparing and updating
investor disclosures related thereto; (r) the costs of service providers or software to measure or monitor
risk metrics, to aggregate positions and/or to provide reporting with respect to risk metrics and/or
...

Item 7. Types of Clients

Investors in the Funds are generally institutional investors, high net worth individuals, and endowments
that qualify as “accredited investors” (as defined in Rule 501 under the Securities Act of 1933, as amended)
(the “Securities Act”) and qualified purchasers. The minimum initial investment in the Funds is generally
$5,000,000. We can waive such minimum under certain circumstances.

Nine Left Capital LP                                                                          Form ADV Part 2A