Sachem Hill LLC

Item 5.                  Fees and Compensation

Portfolio Management

Sachem Hill’s advisory clients generally pay an annual fee of up to a maximum of 0.85% of assets
under management for investment advisory services. The investment advisory fee is based on
assets under management, payable in quarterly installments in arrears at the end of each calendar
quarter. This fee is calculated based on the average net market value of the portfolio during the
quarter. Sachem Hill calculates the average net market value of each client portfolio for the
purpose of calculating the annual fee. Such calculation for a client’s portfolio is available on that
client’s request.

Sachem Hill typically receives advisory fees directly from managed portfolio accounts but at its
discretion may accept a client’s request that it bill the client directly. Each time Sachem Hill
receives a fee payment from such a client account, it does so pursuant to written authorization
from the client and sends the client an invoice specifying and itemizing such fee, including the
formula used to calculate the fee, the amount of assets under management on which the fee is
based, and the period covered by the fee.

Financial Planning & Consulting

Sachem Hill provides financial planning services for an additional fee agreed upon with each
client. The services and the fee for such services are outlined in the client’s Investment Adviser
Agreement, if applicable.

Private Investment Funds

Sachem Hill typically charges an annual management fee of 0.50% for each investment fund,
payable quarterly or monthly in arrears, based on each investor’s capital account balance as of
the last day of that calendar quarter. The funds do not charge this fee to their investors that are
also Sachem Hill’s investment advisory clients. Each investment fund’s administrator calculates
the management fee. Some investment funds that Sachem Hill manages also pay it a carried
interest distribution after investors receive a return of their invested capital and a preferred return.
Other investment funds that Sachem Hill manages allocate to Sachem Hill a performance
allocation equal to a specified percentage of net profits (including both realized and unrealized
gains and losses) otherwise allocable to such investor if such profits exceed a specified hurdle
rate. Performance allocations are assessed in arrears annually and are only applied to the profits
that exceed the cumulative losses previously allocated to such investor. Investors that are also
Sachem Hill’s investment advisory clients do not pay profit allocations. The amount of all private
investment fund fees depends on the fund’s terms and is disclosed to investors in the fund’s
offering documents. Sachem Hill complies with Rule 205-3 of the Investment Advisers Act of
1940, to the extent required by applicable law. Performance allocations create an incentive for
Sachem Hill to make more risky and speculative investments than it would otherwise make.

Sachem Hillcapital.com                                                                                5

Other Fees and Expenses

Sachem Hill’s fee does not include fees charged by third-party portfolio managers, investment
funds, account custodians, broker-dealers or other third parties. Trade costs, mutual fund
expenses, investment fund expenses, advisory fees of third-party portfolio managers, etc. are all
additional and separate from our advisory fees.

Clients will incur brokerage transaction charges for trades executed in client brokerage accounts.
These brokerage transaction fees are separate from our fees. All or part of these costs and
expenses may be paid, however, by securities brokerage firms that execute clients’ securities
trades, as discussed in Item 12 below. Also, clients will pay the following separately incurred
expenses, which we do not receive any part of: charges imposed directly by a mutual fund, index
fund, exchange traded fund or private investment fund which shall be disclosed in the fund’s
prospectus, private offering memorandum or other constituent documents (i.e., fund
management fees and other fund expenses). Third-party portfolio managers and sub advisors will
also charge clients advisory 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 a private investment
fund of which Sachem Hill is general partner, to use the “alternative reporting option” to report
Sachem Hill’s compensation as “eligible indirect compensation” on the Schedule C of the plan’s
Form 5500 Annual Return/Report of Employee Benefit Plan.

Termination of Relationship

Except as may be otherwise negotiated in particular cases, a client may terminate its relationship
with Sachem Hill by giving 30 days’ prior written notice. In all cases, expenses and the pro rata
portion of Sachem Hill’s fees through the date of termination are charged to the client.

Investors in some of the funds that Sachem Hill manages generally may not withdraw their
investments in such funds until the funds’ investments are sold or otherwise disposed of.
Relationships with other of Sachem Hill’s investment fund clients are terminable on expiration of
the partnership’s term, dissolution of the partnership or on Sachem Hill’s withdrawal as general
partner. Each investor in those funds may withdraw all or part of its capital account balance
attributable to a capital contribution, on specified prior written notice, per the withdrawal
procedures outlined in each fund’s offering documents.

Sachem Hillcapital.com                                                                            6

Item 7.                  Types of Clients

Sachem Hill provides investment advice to families and their foundations. It generally requires a
minimum of $10,000,000 to establish an advisory relationship. It also manages private
investment funds that typically require a minimum investment of $250,000. Sachem Hill may
waive these minimums.