Repertoire Partners LP

Item 5.        Fees and Compensation

Repertoire charges an annual management fee of 1% with respect to Class A and Class B investors
and 2% with respect to Class FF1 investors. It does not charge a management fee with respect to
Class FF2 investors. The management fee is calculated and charged monthly based on each investor’s
capital account balance at the beginning of each calendar month. Repertoire also receives a
performance-based allocation with respect to each investor equal to a percentage of net profits
(including both realized and unrealized gains and losses) otherwise allocable to such investor. The
performance allocation is 15% (after a 6% preferred hurdle) for Class A and 20% (after a 6% hard
hurdle) for Class B and the performance allocation is 20% for Class FF2 investors. Performance
allocations are assessed in arrears on an annual basis (and on withdrawals with respect to the amount
withdrawn) and are only applied to the portion of profits that exceed the cumulative losses previously
allocated to or incurred by investors. Repertoire complies with Rule 205-3 under the Investment
Advisers Act of 1940, to the extent required by applicable law. Performance allocations and fees
may create an incentive for Repertoire to make more risky and speculative investments than it would
otherwise make.

Repertoire may waive or reduce all or any portion of the management or performance-based
allocations and distributions with respect to any investor or client.

Repertoire deducts management fees and performance-based allocations and distributions directly
from client accounts.

To the extent that a client invests in mutual funds or ETFs, such client also bears indirectly the
investment advisory fees to the managers of those funds.

Repertoire believes that its fees are competitive with fees charged by other investment advisers for
comparable services. Comparable services may be available, however, from other sources for lower
fees.

The disclosure in this Item 5, together with the disclosure in Item 12, allow a plan that is subject to
the Employee Retirement Income Security Act of 1974 and that invests in one of Repertoire’s funds
to use the “alternative reporting option” to report Repertoire’s compensation as “eligible indirect
compensation” on the Schedule C of the plan’s Form 5500 Annual Return/Report of Employee
Benefit Plan.

Relationships with Repertoire’s investment fund clients are terminable on the termination of the
applicable investment management agreement and, with respect to Repertoire’s investment limited
partnership clients, on expiration of the partnership’s term, dissolution of the partnership or on the
withdrawal by Repertoire or its affiliates as the general partner of that fund. On at least 65 days prior
written notice, for Class FF1 and Class FF2, on the calendar quarter end immediately preceding
every third anniversary of an investor’s investment in a fund the investor may withdraw/redeem 25%
of its capital account balance related to that specific investment, and the remainder may be
withdrawn/redeemed at the end of the following three calendar quarters, as specified in more detail
in the funds’ offering materials. Further, with respect to Class A investors are subject to an annual

lock up and Class B investors are subject to a two-year lock-up. At the one-year anniversary of
investment date for Class A investors and two-year anniversary of investment date for Class B
investors, with at least 65 days prior written notice, the respective investors may request full
redemption on the calendar quarter-end immediately following the anniversary, which is paid equal
to 25% of their capital account balance over the following four quarters. Withdrawals outside of the
last day of the calendar quarter immediately following each anniversary for Class A investors and
every second anniversary for Class B investors, will be subject to a fee payable to the fund equal to
5% of the withdrawal proceeds. These and other withdrawal/redemption provisions are described in
greater detail in the Funds’ governing and offering documents.

In all cases, expenses, the pro-rata portion of the management fee and the performance allocation or
fee through the date of termination are charged to the account. All prepaid but unearned advisory
fees are refunded on termination of a client’s account. An investor who withdraws from a fund on a
date other than the last day of a quarter or other appropriate period, however, does not receive a
refund of the management fee previously paid.

Each fund or other client is responsible for its own costs and expenses as detailed in the governing
documents for such fund. Such costs and expenses include, but are not limited to, trading costs and
expenses (such as brokerage commissions, expenses related to short sales, and clearing and
settlement charges), ongoing legal, accounting, and bookkeeping fees and expenses, and the fees and
expenses charged by any fund administrator for its accounting, bookkeeping and other services.

Repertoire bears its own operating, general, administrative, and overhead costs and expenses, other
than the expenses described above. All or part of these costs and expenses may be paid, however, by
securities brokerage firms and futures commission merchants that execute clients’ securities trades,
as discussed in Item 12 below.

Item 7.        Types of Clients

Repertoire provides investment advice to investment funds and other accounts. Investors in the funds
are required to invest a minimum of $5,000,000, but Repertoire may waive this minimum. Repertoire
generally requires a minimum of $500,000,000 to open an individually managed account, but may
waive this minimum. Repertoire’s separate account clients may include high- net-worth individuals,
institutions, trusts, endowments and pension plans.