One Oak Capital Management LLC

ITEM 5: FEES AND COMPENSATION

Advisory and Other Services and Fees

Private Funds

          One Oak Capital Management 2026 Firm Brochure
In consideration for services provided pursuant to the Investment Management Agreement, One Oak
will receive a monthly management fee (“Management Fee”), with respect to the One Oak Alpha
Opportunities Fund LP equal to 1.00% annually for the Municipal Opportunities Portfolio and 1.50%
annually of the One Oak Multi-Strategy Master Fund, Ltd. The Management Fee is calculated and
payable to One Oak monthly, in arrears, based on the net asset value of the Fund on the last business
day of the previous month. No part of the Management Fee will be refunded in the event that a Limited
Partner withdraws, whether voluntarily or involuntarily, all or any of the value in such Limited
Partner’s capital account during any month. The Management Fees are deducted monthly from the
Fund and paid directly to the Adviser.

One Oak, in its sole discretion, may waive or reduce the Management Fee with respect to one or more
Limited Partners (including One Oak’s Affiliates) for any period of time or agree to apply a different
Management Fee for any Limited Partner (all such arrangements in the form of a rebate or otherwise).

The Mid Atlantic Total Return Portfolio, which is a portfolio “sleeve” of the Alpha Fund, does not
charge a Management Fee, but does charge a Performance Fee of 60%.

The management fee paid by the KStone High Income Muni Fund LP is 1.25% for Series C-1 and C-
2 and 0.75% for Series F-1 and F-2, and also pays a 0.10% administration fee for Series C-1, C-2, F-
1 and F-2. Series B-1 and B-2 are not subject to either the management or administration fees.

Sub-Advisory Arrangements
With respect to the Multi-Strategy Fund, One Oak has entered into sub-advisory agreements with other
advisers to provide certain advisory services on behalf of the Adviser. At present, the Multi-Strategy
Fund is sub-advised by one investment adviser. One Oak has discretionary trading authority with
respect to certain assets of the advisers’ funds to be placed in the account for the benefit of the Funds.

Separately Managed Accounts
In consideration of the services provided pursuant to each Investment Management Agreement for
each Separately Managed Account, One Oak will earn a 0.15% to 0.30% Management Fee per annum,
paid quarterly in arrears, based on the market value of each account on the last business day of the
previous month. The Management Fees are deducted from each separately managed account by One
Oak after the calculation date and paid directly to the Adviser.

Retail Advisory
Retail Advisory Clients will pay an annual principal advisory fee between 0.025% to 1.25%, paid
monthly in arrears, based on the market value of each account on the last business day of the previous
quarter.

Please see Item 6, “Performance-Based Fees and Side-By-Side Management,” below, for further
information on fees.

Additional Expenses and Fees
Our fees are exclusive of brokerage commissions, custody fees, fund expenses, transaction fees, and
other related costs and expenses, which may be incurred by our clients. Clients may incur certain
charges imposed by custodians, brokers, and other third parties, including fees charged by managers,

          One Oak Capital Management 2026 Firm Brochure
custodial fees, deferred sales charges, odd-lot differentials, transfer taxes, wire transfer, and electronic
fund fees, and other fees and taxes on brokerage accounts and securities transactions. These charges,
fees, and commissions are exclusive of and in addition to our management fees. We shall not receive
any portion of these commissions, fees, and costs and shall not receive a brokerage commission or
other compensation attributable to the sale of a security or other investment product.

Prepayment of Fees
In cases when the advisory agreement does not span the full billing period, fees are prorated from the
date of inception. Fees are not rebated if an account is terminated prior to the end of the billing period.
The Adviser or Client may terminate the investment advisory agreement at any time with written
notice to the Client or Adviser, respectively.

Additional Compensation and Conflicts of Interest
We do not receive a brokerage commission or any other compensation attributable to the sale of
securities or investment products, and our personnel do not receive such compensation.

ITEM 7: TYPES OF CLIENTS

At present, we provide investment advisory services to private funds, as well as advice on a separately
managed account basis to individuals, high net worth individuals, trusts, estates, endowments,
charitable organizations, corporations, limited liability companies, other businesses entities, and other
investment advisors.

The minimum account size necessary to invest in our portfolio will vary by the type of Investor. For
the Private Funds, except the KStone Fund, investors must make a minimum initial investment of at
least $500,000, and any additional investment must be in increments of $100,000. For the KStone
Fund, the investment minimum is $1,000,000. For separately management accounts, the initial
minimum is $250,000. From time to time, initial investments less than minimums may be accepted,
and these thresholds may be increased or decreased. The Adviser has the discretion to negotiate a
lower minimum investment size.