Oakum Bay Capital LLC

Item 5 - Fees and Compensation

Oakum Bay Capital charges each client an investment management fee and a performance
allocation or fee. The fees described below apply to the Funds. Fees applicable to other clients
are substantially similar.

The Fund pay management fees quarterly in advance based on the net assets of the Funds as of
the first business day of the fiscal quarter.

Oakum Bay Capital or an affiliate shares, along with the other Fund investors, in the allocation of
the increase in net assets of each Fund in accordance with its respective proportionate share of
the Fund’s capital. Furthermore, a specific percentage of the increase, if any, allocated to each
investor for each fiscal year is deducted from each investor’s account and reallocated to Oakum
Bay Capital or an affiliate. If the net asset value of an investor’s accounts decreases during the
applicable fiscal year, no reallocation will be made with respect to that account until such loss
has been recouped.

The amount that each Fund investor pays in management fees and performance allocations or
fees depends on the redemption rights elected by the investor, as outlined in the Fund’s offering
documents. Such redemption rights may include lock-up provisions extending from one to three
years and may require at least 60 days’ advance written notice of redemption.

TCF. The standard fees for TCF are as follows:

   2.0 Percent of Assets Under Management – Based on the investor’s proportion of the Fund’s
   assets under management at the beginning of each quarter or as reflected in the Fund’s
   private placement memorandum or other offering document.

   20 Percent Performance Allocation or Fee – Calculated based on the percentage of net capital
   appreciation attributable to the investor’s interest in the Fund at the end of each calendar
   year or as reflected in the Fund’s offering documents or other offering document.

Fees and Client Expenses, Generally. All fees are agreed to prior to an investor investing in a Fund.
From time to time, Oakum Bay Capital may negotiate lower or higher management fees,
performance fees and allocations, as well as minimum investments. To the extent that fees are
negotiable, some clients may pay more or less than other clients for the same investment
management services.

Management fees or performance allocation and fees may be waived or reduced with respect to
clients who are Oakum Bay Capital partners or employees, family members of Oakum Bay Capital
partner or employees, trusts or similar vehicles formed for the benefit of such persons or certain
other investors for any reason as determined by Oakum Bay Capital in its sole discretion.
Oakum Bay Capital, LLC
Form ADV, Part 2A
March 20, 2026
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Minimum account sizes vary depending on the type of investment advisory services to be
performed and in certain circumstances may be negotiable. Fund investment services are
generally available to individuals or institutions with a minimum account size of $250,000 in
assets.

All fees charged by Oakum Bay Capital are exclusive of brokerage commissions, transaction fees,
and other related costs and expenses, which shall be the responsibility of the client incurring that
cost or expense. A client may incur certain charges imposed by custodians, broker-dealers and
other third parties, such as a custody fee, deferred sales charges, odd-lot differentials, transfer
taxes, wire transfer and electronic fund fees, and other fees and taxes on brokerage accounts
and securities and currency transactions.

All fees paid to Oakum Bay Capital for investment management services are separate and distinct
from fees and expenses charged by collective investment funds, including exchange- traded
funds, in which a client may invest. Those fees and expenses are described in each collective
investment fund’s prospectus or other offering materials. Those fees generally

Oakum Bay Capital, LLC
Form ADV, Part 2A
March 20, 2026
                                                                                          Page | 3

include a management fee, other fund expenses, and a possible distribution fee.

Other Forms of Compensation Received By Oakum Bay Capital. Oakum Bay Capital does not
currently receive any other form of compensation.

Item 7 - Types of Clients

Oakum Bay Capital provides investment management to family offices and wealthy individuals.
Oakum Bay Capital currently provides investment management advice to those investors only by
their investments in the Funds although it may provide investment management directly through
separately managed accounts.

Oakum Bay Capital, LLC
Form ADV, Part 2A
March 20, 2026
                                                                                           Page | 4

The Fund’s initial and ongoing account minimum investment amounts are described in its offering
documents.