Optima Fund Management Limited Partnership

Item 5 Fees and Compensation

   A.     The management fees charged to the Client Pooled Funds range from an annual rate
          of 1.0% to 1.5% of net assets at the end of each month. If a Client Pooled Fund
          invests in another entity for which Optima or an affiliate serves as the general
          partner or investment manager, then either that portion of the entity’s assets
          represented by such an investment are excluded from the calculation of net assets for
          the purposes of calculating the management fees, or the fees received by the affiliate
          are refunded to the Client Pooled Fund in full.

          Certain of the Client Pooled Funds charge investors in these Client Pooled Funds a
          performance fee of 10% of the profits earned by such investors, subject to a high
          watermark and loss carryforward.

          Fees charged to Client Pooled Funds are set forth in the offering memorandums for
          the respective Client Pooled Funds and are not negotiable. Fees may vary according
          to the share class of the Client Pooled Fund.

          There is one Client Managed Account that is non-discretionary, which is charged
          fees according to the level of services agreed to between the client and Optima.

   B.     Any fees earned by Optima are charged directly against the assets in a Client Pooled
          Fund’s account or Client Managed Account held by the independent custodian of the
          Client Pooled Fund or Client Managed Account. Where Client Pooled Funds use
          independent administrators and in the case of Client Managed Accounts, Optima
          reviews the calculation of the fee prepared by the administrator, but it is the
          administrator who instructs the custodian to make payment of the fee to Optima.

          Upon an investor’s withdrawal of its investment from a Client Pooled Fund, any fees
          owed to Optima are prorated to the date of withdrawal. Upon the termination of an
          advisory agreement with a Client Managed Account, any fees owed to Optima are
          prorated to the date of termination.

   C.     Where Client Pooled Funds are allocated to other investment managers and/or
          commingled investment vehicles pursuant to Optima’s recommendations, the Client
          Pooled Fund is charged an additional fee by that investment manager and/or
          investment vehicle, as the case may be. Fees charged by such investment managers
          and/or investment vehicles may range from a 0% to 3% management fee and a 0% to
          30% performance fee.

          Investors in Client Pooled Funds also bear third party fees charged by the Client
          Pooled Fund’s auditors and any administrator’s fees as set forth in the Client Pooled
          Fund’s offering memorandums. Client Managed Accounts bear additional third
          party fees charged by such account’s auditor, administrator and custodian.

   D.     Optima does not charge any fees in advance to Client Pooled Funds or Client
          Managed Accounts.

    E.      No employee of Optima receives compensation for selling securities or other
            investment products.

Item 7 Types of Clients

As of the date of this brochure, Optima provides discretionary and non-discretionary investment
advice to 4 commingled multi-manager Client Pooled Funds and 1 customized institutional
Client Managed Account.

The investors in our 4 commingled multi-manager Client Pooled Funds are comprised of
approximately 62% institutional investors and 38% high net worth individuals/family offices.
Such Client Pooled Funds are structured as open-end investment companies or sub-funds of an
umbrella unit trust.

In order to make an investment in a Client Pooled Fund, an U.S. investor must qualify as an
"accredited investor" within the meaning given to such term in Regulation D under the U.S.
Securities Act of 1933, as amended as amended by the Dodd-Frank Wall Street Reform and
Consumer Protection Act of 2010, and/or a "qualified purchaser" within the meaning given to
such term under the U.S. Investment Company Act of 1940, as amended.