Raveneur Investment Group LP

Item 5: Fees and Compensation
Raveneur’s fee schedule is omitted as this brochure is only being provided to qualified
purchasers as defined in section 2(a)(51)(A) of the Investment Company Act of 1940, as
amended (the “Investment Company Act”). Separate account clients and Investors (as defined
below) generally pay a fee based on a percentage of assets under management (“Management
Fee”) and a performance-based fee (the “Performance Allocation”). The Management Fee
charged by Raveneur is calculated and payable either monthly in arrears or quarterly in advance.
The Performance Allocation is debited or invoiced annually or on the effective dates of any
redemptions or transfers. Raveneur deducts a Client’s (as defined below) fee from its custodial
account or invoices a Client based on Client direction.

The Funds may issue different tranches or series of interests or shares, which may be subject to
different early redemption charges, Management Fee rates, and Performance Allocation rates.
Each Fund’s Private Placement Memorandum or Offering Memorandum and other governing
documents applicable to the Funds (hereafter referred to as the “Governing Documents”) set
forth in detail the fee structure relevant to each Fund. Investors should review all fees charged by

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Raveneur and related entities to fully understand the total amount of fees to be paid by a Fund
and, indirectly, by Investors.

Management Fees and Performance Allocations may be waived, reduced or calculated
differently with respect to any separate account client or Investor, including, without limitation,
Investors that are officers, directors, members, partners, or employees (collectively the
“Employees”) of Raveneur, members of the immediate families of such persons, and trusts or
other entities for their benefit, in each case in Raveneur’s sole discretion.

Other Costs
Clients separately incur costs associated with custody, brokerage and trading activities. Clients
should refer to Item 12 for additional information about the Raveneur’s brokerage practices.

Fund Expenses
In addition to the fees and costs discussed above, the Funds are responsible for the organizational
and operating expenses described in the Governing Documents. The types of fund expenses
generally include the following non-exhaustive list: compliance, accounting, tax audit and legal
expenses; administrator expenses; regulatory filing expenses made in connection with managing
a Fund’s portfolio, including expenses related to Form PF; initial ongoing and offering expenses
(which are being amortized); Fund restructuring expenses; investment expenses such as
brokerage commissions and trading costs, research fees and expenses; interest on debit balances
or borrowings; custody fees; Director fees; and the costs of any liability insurance obtained on
behalf of the Funds or Raveneur. Investors in certain tranches are also subject to an early
redemption charge in the event they redeem prior to the end of an initial period specified in the
Governing Documents. Raveneur may, in its sole discretion, choose to absorb any such expenses
incurred on behalf of the Funds.

Please refer to the Governing Documents for a full description of Fund expenses.

Item 7: Types of Clients
Raveneur’s clients include related private funds as well as separate account clients (collectively,
Raveneur’s “Clients”). The shares or limited partnership interests in the Funds are not registered
under the U.S. Securities Act of 1933, as amended (the “33 Act”); nor are the Funds registered
under the Investment Company Act. Accordingly, interests or shares in the Funds are offered and
sold exclusively to investors satisfying the applicable eligibility and suitability requirements,
either in private transactions within the U.S. or in offshore transactions.

Raveneur manages Fund assets in accordance with the terms of the Governing Documents.
Investors in the Funds are encouraged to read each Fund’s Governing Documents for further
information and important disclosures regarding the Fund’s terms, restrictions or limitations.
Investment advice will be provided directly to the Funds and not individually to the investors in
the Funds (the “Investors”). Raveneur’s appointment as investment adviser to each Fund is
subject to the direction and control of the general partner or board of directors, as applicable, of
such Fund, and not individually to any Investors. While Raveneur’s advisory services to
separate account clients employ similar investment objectives as the Funds, separate account
clients may impose reasonable restrictions on investing in certain securities or types of securities.

Investments in the Funds are limited to sophisticated investors that meet certain financial
sophistication requirements. To invest in a Fund, an Investor must be (i) a non-U.S. person or
(ii) a U.S. person that is an “accredited investor” within the meaning of Regulation D under the
33 Act and a “qualified purchaser” within the meaning of the Investment Company Act. Certain
Employees who are “knowledgeable employees” as defined under the Investment Company Act
may also invest in the Funds. Both separate account clients and Investors in the Funds may
include, but are not limited to, institutions such as pension plans, sovereign wealth funds,
endowments, foundations, banks, pooled investment vehicles (e.g., funds-of-funds), trusts,
estates or charitable organizations, corporate or business entities and high net worth individuals.

Raveneur has established a minimum dollar amount to open a separate account or invest in the
Funds. The minimum separate account size is $75,000,000. Each Fund’s initial and additional
subscription minimums and lock-up periods are disclosed in the applicable Governing
Documents for such Fund. These investment minimums may be waived or reduced in
Raveneur’s sole discretion.