Quinn Opportunity Partners LLC

Item 5: Fees and Compensation

Our fees and compensation are described in the advisory contracts we enter with our clients. Investors in
Quinn Opportunities pay a quarterly management fee of 0.375% per quarter (approximately 1.5% per
annum) and are subject to an annual performance-based allocation of up to 20% of net capital
appreciation, subject to a high watermark. Investors in Series A and Series D are subject to just a
performance-based allocation of up to 20% of net capital appreciation upon capital return.

Fees charged to managed account holders are determined on a case-by-case basis but may include
management fees and performance-based fees.

We generally deduct our management fees from client accounts quarterly in arrears. Management fees
are generally pro-rated for less than full calendar quarters. Generally, we or our affiliates receive
performance-based fees or allocations from client accounts on an annual basis in arrears and upon
redemptions by investors in the Funds.

The Funds will bear all expenses directly or indirectly related to its operations and investment transactions
and positions for its account, including, but not limited to: the management fees and investment
management expenses, interest expense, brokerage commissions, custodial fees, costs of borrowing
securities to be sold short, research and due diligence fees and expenses (including any research and/or
due diligence related travel) and materials (including online news and quotation services, computer
hardware and software used for research, Bloomberg service, etc.), order management systems,
withholding and transfer taxes imposed on it, blue sky fees, initial and periodic legal, audit, administration
and accounting fees and expenses, investor reporting costs, insurance expenses, consulting fees and
expenses, professional fees and expenses, and other similar fees and expenses. We may, in our discretion,
fully or partially waive the reimbursement of any of the foregoing expenses by the Funds and in result
bear such expenses. (See Item 12 “Brokerage Practices” below)

The expenses that are charged to separately managed accounts are determined on a case-by-case basis.

We may also allocate a portion of certain clients’ capital to money market funds, exchange-traded funds
or similar fee-bearing products or private investment funds and accounts that are managed by other
investment managers. In addition to the fees and expenses discussed above, a client will indirectly incur
similar fees and expenses if we invest such client’s capital in such products, as these products in turn pay
similar fees to their investment managers and other service providers.

Item 7: Types of Clients

We provide investment advice to the Funds and to separately managed accounts. Investors in the Funds
qualify as “accredited investors” (as defined in Rule 501 under the Securities Act of 1933, as amended)
and “qualified clients” (as defined in Rule 205-3(d) under the Investment Advisers Act of 1940, as
amended (the “Advisers Act”)). The minimum investment in the Funds is generally $500,000. We will

determine the minimum investment for a separately managed account on a case-by-case basis, but it is
generally expected to be at least $50 million.