Pollen Street Capital US LLC

Item 5       Fees and Compensation

A.       PSCUS directly or indirectly charges a management fee based on percentage of Client assets under
         management which may include capital borrowed from leverage providers, pursuant to Client
         Documents (as defined in Item 4), which are provided to prospective investors. To avoid fee
         layering, if at any time the UK Investment Company invests in or through any other investment
         fund or special purpose vehicle and a management fee or performance-based fee is charged to such
         investment fund or special purpose vehicle by PSCL, PSCUS (the sub-adviser) or any of their
         affiliates, such fees will be adjusted for the purposes of determining any fees due to the UK
         Investment Company. Compensation in lieu of fees and reimbursement of expenses associated with
         the UK Investment Company and its subsidiaries may be paid between PSCL and PSCUS, as
         agreed upon between them from time to time. PSCUS may enter into different fee arrangements
         pursuant to a Client’s Documents or otherwise.

         Certain fees are subject to clawback provisions as defined in and set forth in the Client Documents.

B.       Management and performance-based fees are generally deducted from Client assets, although
         certain Client Documents may stipulate that fees be billed to and paid directly by the Client.
         Management fees are generally deducted either monthly or quarterly and performance allocations
         or incentive fees are calculated and withdrawn following the fiscal year end of the relevant Client.

C.       As set forth in the Client Documents, each Client generally bears its own expenses, including legal,
         accounting, brokerage, custody, administration and other expenses. To the extent that any Client
         transactions are executed through a broker-dealer, the Client will incur brokerage and other
         transaction costs. Please refer to Item 12, Brokerage Practices, for more information.

D.       Management fees are deducted from Client accounts or billed to Clients in arrears.

E.       PSCUS has from time to time packaged loans in a special purpose vehicle for purposes of
         securitizing such loans and may receive management (administrative) fees directly from such
         vehicle. Otherwise, no supervised person accepts compensation for the sale of securities or other
         investment products.

Item 7     Types of Clients

As described in Item 4, PSCUS provides investment advisory services to (i) separate accounts for trusts,
partnerships, corporations, or other institutional clients and businesses and (ii) the UK Investment
Company.