Point Break Capital Management LLC

ITEM 5 — FEES AND COMPENSATION

 Point Break and General Partner Management Fees

The Master Fund seeks to accomplish its objective by allocating assets among various side pockets for
specific investments or pools of securities (each a “Pool”). The General Partner has the power to create
Pools in its sole discretion and one or more series within a Pool to reflect different fee arrangements and
other conditions (each a “Series”). Different Pools may reflect different investment strategies being
implemented by Point Break. Subject to the General Partner’s approval, investors in the Funds may
participate in a particular investment strategy or a specific investment by subscribing for interests in the
relevant Pool offered by the General Partner.

In consideration for the services provided to the Funds, Point Break is paid an annual management fee by
the Master Fund payable on a monthly basis with respect to each Pool and Series (“Management Fee”). The
Investment Manager, in its sole discretion, may waive, reduce or rebate the Management Fee to be charged
with respect to any investor in the Funds.

 Other Fees and Expenses

In addition to the advisory fees, Point Break may also be entitled to reimbursements of reasonable expenses
and costs that were incurred in relation with the performance of its duties under the investment management
agreement.

Point Break’s fees are exclusive of brokerage commissions, transaction fees, mark-ups and mark-downs,
and other related costs and expenses, which are borne by the Funds. The Funds may incur certain charges
imposed by custodians, brokers, and other third parties such as fees charged by sub-managers, custodial
fees, transfer taxes, wire transfer and electronic fund fees, and other fees and taxes on brokerage accounts
and securities transactions. The Funds also pay their own partnership-level expenses such as fund
administration, audit, tax, and legal fees.

Further details on fees and expenses that are charged are in the relevant offering memoranda and/or other
governing documents of the Funds.

ITEM 7 — TYPES OF CLIENTS

Point Break currently provides portfolio management services exclusively to the Funds.

The Funds are available only to investors who satisfy certain suitability standards, such as being institutions,
high net-worth individuals, financially sophisticated individuals, and other sophisticated investors.

While Point Break provides advice to the Funds, it does not provide individualized investment advice to
the investors in the Funds.