Rogge Global Partners Limited

Fees and Compensation

Rogge gives investment advice pursuant to a written investment advisory agreement with each client (the
“Agreement”). In addition, the organisational documents of a fund advised by Rogge will describe the fee
charged to investors in such fund. In general, Rogge bases its fees on its standard fee schedule that is in
effect at the time the Agreement is entered into, and therefore a client’s fee schedule may be different
from the standard fee schedule for new separate accounts. Advisory fees may also be negotiated with
clients and therefore may vary from the standard fee schedule. Generally, either party may terminate an
Agreement upon 30 day’s prior written notice. Upon termination, clients pay the pro-rata portion of fees
through the termination date. In the event a client has paid quarterly fees in advance and terminates prior
to the end of such quarter, Rogge will refund the client the portion of fees paid that corresponds to the
period from the date of termination to the end of such quarter.

Rogge generally calculates its fixed advisory fees as a percentage of assets under management. Rogge
also may enter into a performance fee arrangement with a client pursuant to individualised negotiations,
in accordance with all applicable laws and regulatory requirements. Performance fees are typically
calculated over one- or three-year rolling periods. The level of such performance fee due is determined by
reference to the performance of the investment portfolio relative to a given benchmark. Such fees are
generally due annually.

Other investment advisers may charge higher or lower fees than those charged by Rogge for comparable
services.

Performance based fee arrangements may create an incentive for an adviser to recommend investments
which may be riskier or more speculative than those which would be recommended under a different fee
arrangement.

Rogge generally charges advisory fees quarterly in arrears based on the market value of a portfolio,
which may be measured by (a) calculating the average value of assets in the portfolio over the charging
period or (b) using the value of the portfolio at a specific point in time.

Rogge’s current standard fee schedule is as follows, though fee schedules are negotiable and often relate
to the investment mandate:

0.5% on first $25 million under management
0.4% on next $25 million under management
0.3% on excess over $50 million under management

Fixed fees are considered and are typically paid quarterly in arrears. Such fixed fees are approximately
equivalent to the ad-valorem fee schedule that would have been on offer at the commencement of
business. They are typically reviewed annually in line with inflation and have renegotiation clauses
triggered by material cash flows.

Typically, the minimum account Rogge will accept for management is $50 million. In its sole discretion,
Rogge may accept accounts with amounts of assets lower than the preferred minimum. In such cases,
the fees charged for investment advisory services may be higher than those fees indicated herein. Rogge
may terminate client accounts with assets that fall below the minimum indicated.

Clients may choose to be billed directly for fees, or may authorize their custodian to pay Rogge directly
from their account. If a client directs its custodian to pay Rogge from its account, the client’s custodian
should send a quarterly statement directly to the client, showing transactions in the account, including
Rogge’s fees. Rogge will receive paper or electronic copies of the custodian’s statements. Rogge urges
you to carefully review these statements, where applicable, and compare the official custodial records to

                                                                                CRD Number; 105819
                                                                                SEC File Number; 801-25482

any account statements Rogge may send to clients

Investment Advisory Contracts may be terminated by either party before the normal expiration date of the
contract upon service of written notice in accordance with terms negotiated within the Investment
Advisory Contract or immediately upon the occurrence of certain trigger events as detailed in the
Investment Advisory Contract.

                                                                               CRD Number; 105819
                                                                               SEC File Number; 801-25482

Performance-Based Fees and Side-By-Side Management

Types of Clients

Rogge manages investment portfolios for Institutional clients. Rogge also manages pooled and private
funds. Rogge generally provides discretionary investment services to: banks, investment companies,
pensions and profit sharing plans, trusts, estates or charitable organizations, and other corporations or
business entities.

                                                                                   CRD Number; 105819
                                                                                   SEC File Number; 801-25482

Methods of Analysis, Investment Strategies and Risk of Loss