Politan Capital Management LP

Fees and Compensation

A.     Advisory Services and Fees

Politan, either directly or indirectly through Politan GP, receives management fees and
performance-based compensation in connection with the management of the Funds.

The fees and/or compensation applicable to each series of a Fund are set forth in detail in each
Fund’s Offering Documents. A brief summary of such fees and compensation is provided below.

Management Fee

The standard management fee with respect to each Series is 1.50% per annum (the “Management
Fee”), based on each investor in the Fund’s (“Fund Investor”) interest in the applicable Series as
of the beginning of each calendar quarter, payable in advance on the first day of each calendar
quarter.

Politan has modified the Management Fee charged to certain Series Investors, and may in the
future, in its sole discretion, elect to waive, reduce or calculate differently the Management Fee
with respect to any Fund Investor, including any member, partner, director, officer, employee and
principal of Politan, or any family members of any of the foregoing, which includes accounts,
trusts, partnerships or other entities primarily for the benefit of any of the foregoing or their family
members (collectively, “Politan-Related Investors”). Typically, no Management Fee will be paid
by any Politan-Related Investor.

Each Fund may offer other series of interests into which Investors may invest, as detailed further
in the applicable Fund’s Offering Documents. The management fee rate will differ among such
series of interests and therefore the specific management fee amounts charged to Investors will be
determined by the specific investor’s series of interests.

Carried Interest, Incentive Fees and Incentive Allocation

Generally, Politan GP is entitled to receive performance-based carried interest distributions and/or
incentive fees or allocations (“Carry/Incentive”) of up to 20% as more fully set forth in the
applicable Offering Documents.

Politan has modified the Carry/Incentive charged to certain Series Investors, and may in the future
elect to reduce, waive, or calculate differently the Carry/Incentive with respect to any Fund
Investor, including Politan-Related Investors.

The Funds have entered into side letter arrangements with certain Investors which provide for
different or additional terms than those described above including, without limitation, different or
more favorable withdrawal rights, such as more frequent withdrawals or shorter withdrawal notice
periods, different fee or Carry/Incentive terms, greater information than may be provided to other

Investors, more favorable transfer rights, key-person notifications, “most favored nation” clauses,
and other rights.

B.       Payment of Fees

Fees and compensation paid to Politan and its affiliates by clients are generally deducted from the
assets of such clients. As discussed above, Management Fees are generally deducted on a quarterly
basis and any Carry/Incentive is allocated as set forth in the Fund’s Offering Documents.

C.       Additional Expenses

Each client pays costs and expenses of such client’s activities as set forth in the applicable
Offering Documents, including but not limited to some or all of the following:

     •   Expenses associated with all investments and transactions considered, evaluated and/or
         consummated by a client, including but not limited to expenses associated with sourcing,
         negotiating, investigating, researching, financing and structuring of investments and
         potential investments, whether or not consummated (including third-party investment
         sourcing fees, third-party research, data, analytics, modeling, structuring, pricing,
         execution and other third-party information systems, software (including any information
         technology hardware, software or other technology incorporated into the cost of obtaining
         such research and market data and expenses related to obtaining, processing and analyzing
         “big data” or “alternative data”), service fees (including data feeds, subscriptions, reports
         and similar items));
     •   Expenses associated with holding, financing, monitoring, hedging, maintaining and
         disposing of all investments (including expenses related to order management systems,
         portfolio management systems and asset and property management expenses of third
         parties) and all transaction and other costs associated therewith;
     •   Travel and related expenses associated with investments and potential investments of a
         client;
     •   Professional fees associated with investment and potential investments of a client,
         including, but not limited to, consulting, accounting, investment banking, legal and other
         advisory fees and expenses;
     •   Fees and expenses related to outsourced middle and back office providers (including fees
         and expenses for services relating to Investment Advisers Act of 1940 compliance);
     •   Transaction fees, brokerage, prime brokerage and futures commission merchant fees,
         commissions and expenses (including fees, commissions and expenses paid or reimbursed
         to an external trading desk), clearing and settlement charges and similar fees and expenses
         associated with the acquisition, disposition and settling of investments and potential
         investments of a client;
     •   Expenses relating to short sales, clearing and settlement charges, custodial fees and
         expenses, bank service fees, interest expenses and fees related to financings or
         refinancings;
     •   Fees and expenses of proxy research and voting services;

•   Fees and expenses (including travel and lodging expenses) associated with activist
    campaigns (both long and short) such as fees and expenses related to event hosting and
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Types of Clients

Politan provides investment advice to the Funds, as described above.