ORSO Partners LP

Item 5: Fees and Compensation

The fees applicable to the Account are set forth in detail in the corresponding IMA. A brief
summary of such fees is provided below.

Management Fee

Orso is paid an investment management fee for the Account (“Management Fee”).

The Management Fee for the Account is the percentage as defined within the IMA of the
targeted gross short exposure as of the end of the last business day of that quarter (calculated
according to the formula defined in the IMA), paid in arrears each quarter.

Incentive Fee

With respect to the Account, Orso is paid an annual performance fee (“Performance Fee”)
equal to the percentage as defined within the IMA of the outperformance, i.e., the positive
amount by which the Performance NAV exceeds the Hurdle (each as defined in the IMA).

Other Types of Fees or Expenses

In addition to Management Fees and Performance Fees, the Account will bear the following
expenses, excluding any expenses for which the Firm is responsible (such covered expenses
collectively, “Account Expenses”):

            1) with respect to transactions that comply with the Account’s investment
               guidelines, as described in the IMA (excluding any trade errors), all (w)
               premiums charged for options, swaptions, and other derivative instruments,
               (x) financing charges, brokerage commissions, clearing fees, bid/ask spreads,
               (y) issue fees, transfer fees, transfer taxes or stamp taxes, and (z) similar third-
               party costs of effecting transactions;
            2) to the extent incurred by the Account (and, with respect to fees for any
               professional services, retained by the Account for its own account) in
               connection with the Account, all (x) custodial, administration, accounting,
               audit, legal or other professional fees and expenses and (y) settlement
               payments and judgments; and
            3) any indemnification payments, non-party claims and other payments borne
               by the Account in accordance with the IMA.

For the avoidance of doubt, Account Expenses shall only include the Account’s pro rata portion
(based on its relative investment in the subject assets) of any expenses that are also
attributable to any other funds and/or accounts managed by the Firm or its affiliates.

            a) The Account will be responsible for the following expenses which will not
               reduce Net Asset Value and shall be paid by the Account from funds outside
               of the Account all: (1) income taxes or similar entity-level taxes imposed on
               the Account and (2) other Account-incurred costs and expenses unrelated to
               the Account.