ONDO Capital Management LLC

Item 5: Fees and Compensation
As compensation for investment supervisory services rendered to the Fund, the Investment Manager
will receive a monthly management fee (the “Management Fee”) calculated based on each relevant
Limited Partner’s “Management Fee Base” (as defined below).

Management Fees will be calculated monthly but will be paid daily based on the value of each
Limited Partner’s Management Fee Base (as defined below) as of the beginning of the first day of
each month. A Limited Partner’s “Management Fee Base” for any calendar month means such
Limited Partner’s Capital Account balance as of the first day of such calendar month (or such
Limited Partner’s initial Capital Account balance if such Limited Partner makes a Capital
Contribution at any time other than at the beginning of a calendar month) accounting for any
additional subscriptions, withdrawals, and changes in the Fund’s net asset value as of the first day
of each month.

The Management Fee for each Class of Interests may be calculated differently based on the Fund’s
Governing Documents.

OUSG Limited Partners will be subject to a Management Fee calculated at an annual rate of 0.15%
(0.0125% per month) and paid daily (calculated pro rata for the month) being based on such Limited
Partner’s Management Fee Base with respect to such Limited Partner’s OUSG Capital Account, as
of the first day of each calendar month.

The Investment Manager and/or the Sub-Advisor, as applicable, may elect to reduce, otherwise
modify, or waive the Management Fee with respect to any relevant Limited Partner, including
allowing the Management Fee to accrue without being actually paid as indicated above. If a Limited
Partner makes a Capital Contribution at any time other than at the beginning of a calendar month, a
pro rata portion of the Management Fee will be paid to the Investment Manager and/or Sub-Advisor,
as applicable, (based on the actual number of days remaining in such partial month).

All current and prospective investors in the Fund should review the Fund’s Governing Documents
together with this Brochure for complete information regarding the fees and compensation
applicable to the Fund.

As of the time of this Form ADV Brochure filing, the 0.15% management fee is waived for all
investors until July 1, 2026.

Additional Fees and Expenses

The Fund bears and shall be responsible for its own expenses, including, but not limited to: (i)
Management Fees; (ii) all general investment expenses (i.e., exchange commissions and expenses,
brokerage commissions, research expenses, data processing costs and expenses, bank service fees,
interest expenses, borrowing charges, custodial expenses, outsourced risk management advisory
and software, investment-related consultants, brokers or other professionals or advisors, including
any Sub-Advisors, who provide advice or due diligence services with regard to Investments, and
travel costs that are research-related and other investment expenses); (iii) expenses incurred in
connection with the tokenization of the Interests including the creation and distribution of the Token
Units; (iv) all administrative, legal, accounting, auditing, record-keeping, tax form preparation,
compliance, and consulting costs and expenses; (v) all fees, costs and expenses related to middle
office operations which may include daily reconciliation of cash, cost, positions, and valuations;
(vi) fees, costs, and expenses of third-party service providers that provide such services; (vii) costs
and expenses associated with preparing investor communications, printing, and mailing costs; (viii)
insurance costs and expenses (e.g., for the assets of the Fund, D&O, E&O); (iv) marketing and
syndication expenses; (x) taxes and other governmental charges; (xi) governmental licensing, filing,
and exemption fees (including Blue Sky filing fees); (xii) indemnification obligations; (xiii) all
judgments, settlements, fines, and expenses (including reasonable attorneys’ fees) incurred in
connection with any actual, anticipated, or threatened litigation or governmental inquiry,
investigation, or proceeding, including any examination, audit, request for information, subpoena,
or any similar request or requirement from the U.S. Internal Revenue Service (“IRS”), the U.S.
Securities and Exchange Commission (“SEC”) or any other local, state, federal, or foreign authority;
and (xiv) any extraordinary expenses.

The General Partner, the Investment Manager, and any Sub-Advisor bear their own expenses,
including office space and utilities, computer equipment and software (not otherwise paid by the
Fund’s) and secretarial, clerical, employee related and other personnel, except as assumed by the
Fund.

The General Partner will cover all expenses related to the following Fund matters (collectively
referred to as the “Organizational Expenses”):

  i.   all costs associated with forming and organizing the Fund, as well as the offering and sale
       of Interests and partnership interests in any parallel investment vehicle (excluding any
       costs related to the tokenization of the Interests, including the creation and distribution of
       Token Units); and

 ii.   expenses incurred in negotiating, executing, and delivering the Partnership Agreement,
       any side letters, investment management agreements, and any related or similar
       documents. This includes, without limitation, associated legal and accounting fees, travel
       expenses, and filing fees.

Selling commissions and/or referral fees may be paid in connection with the offering of the Limited
Partnership Interests. A portion of the Management Fee may be remitted to third parties introducing
Limited Partners to the Fund, or the General Partner or Investment Manager may use its own
resources to compensate third parties for such introductions. The Sub-Advisors, in consultation with

the Investment Manager, may also direct brokerage from Fund’s trades to broker-dealers which
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Item 7: Types of Clients
OCM offers investment advisory services to a private Fund and not to the individual Limited
Partners or Investors. Investors in the Private Fund are required to adhere to the criteria established
in the Private Fund Offering Documents.

The Fund is the Adviser’s sole Client. As a result, the conflicts typically associated with allocating
investment opportunities among multiple clients generally do not arise. If the Adviser were to
manage additional clients in the future, it would maintain and apply policies designed to ensure that
investment opportunities are allocated in a fair and equitable manner.

Investors in the Fund must satisfy certain eligibility requirements. Specifically, interests in the
Funds are offered to Investors who are (i) accredited investors as defined by Regulation D under
the Securities Act of 1933, as amended (“Accredited Investors”); (ii) qualified purchasers as defined
in Section 2(a)(51) of the Investment Company Act of 1940, as amended (“Qualified Purchasers”);
and (iii) non-U.S. investors subject to similar restrictions under local law.

The minimum initial investment that will be accepted from a new or existing Limited Partner will
be determined by the General Partner from time to time. The General Partner may raise or lower
the minimum investment amounts from time to time and accept Capital Contributions below the
established minimums in its sole discretion. Capital Contributions will be credited to the Fund as
of the first Business Day (as defined below) of each week or on such other day or days as the General
Partner may from time to time determine. Capital Contribution will generally be credited to the
Fund on the same Business Day, subject to the requirements as described immediately below. The
General Partner may reject any Capital Contribution in its sole discretion.

This firm Brochure is not an offer to invest in our Funds.