Samjo Management LLC

Item 5: Fees and Compensation

Management Fee and Performance Allocation for the Funds

Each Fund is generally charged (1) a management fee and (2) a performance allocation which is calculated
based upon a percentage of the net capital appreciation of each Fund at the end of each fiscal year.

Investors in the Funds are generally charged a 1.0% annual management fee (0.25% quarterly). The
management fee is deducted on a quarterly basis in advance based upon the value of each Investor’s capital
account as of the first day of each calendar quarter. The management fee will be prorated for any period
that is less than a full calendar quarter. Fees are deducted from each Fund’s custodial or prime brokerage
account(s).

An affiliate of Samjo Management receives an annual performance allocation equal to 15% of the net profits
(including net unrealized gains), if any, attributable to each Investor, subject to a loss carryforward
provision, provided that no performance allocation will be earned to the extent such a performance
allocation would reduce the annual net profits of an Investor to below the annualized, non-cumulative
Hurdle Rate (as defined below).

The Hurdle Rate for Samjo Partners is the return generated by the lesser of (i) the yield on the 5-year
U.S. Treasury bond as of the first day of each fiscal year or (ii) 5.0%. The Hurdle Rate for HAFF Partners
is 7.0%. The Hurdle Rate is applied each year in isolation and is not cumulative.

The management fee and performance allocation for each Fund may be subject to individual negotiation
with certain Investors and subject to waiver or reduction by Samjo Management in its sole discretion.

Management and Performance Fees for the SMA Clients

SMA Clients are generally charged an annual management fee (payable quarterly) that ranges between
0.5% to 2.0%. Except with respect to the initial quarter, the management fee is based upon the fair market
value of the assets in the SMA Client Account, and will be paid quarterly, in advance, using the prior
quarter-end fair market value of the assets in the SMA Client Account (determined as of the last business
day of the prior calendar quarter).

Generally, SMA Client fees will be debited from the SMA Client Account that generated the fee, unless
otherwise indicated by the SMA Client in writing. If an SMA Client does not have sufficient liquidity in its

Samjo Management, LLC                                                        Form ADV Part 2A

SMA Client Account to pay the management fee, Samjo Management may instruct the custodian to
liquidate securities in the SMA Client Account or use margin to cover the amount of management fees.

SMA Clients may, instead of paying a management fee, pay a performance-based fee based on a share of
up to 15% of the realized and unrealized profits in the Account during each calendar year.

Samjo Management has, and may in the future, in its discretion, waive or reduce the management fees and
performance fees calculated in accordance with the management fee and performance fee schedule for
specific SMA Client Accounts taking into consideration, among other things, account strategy, current
portfolio and asset classes, the size of the account and the length of the SMA Client relationship.
Management and performance fees are subject to negotiation.

Unless an SMA Client directs otherwise, management fees are deducted from the relevant SMA Client
Account or from a related account. When the management fees are deducted, the charge is shown on
the monthly statement for the month in which the charge is made.

Samjo Management’s fees are exclusive of brokerage commissions, transaction fees, custodial fees and
other related costs and expenses which shall be incurred by the SMA Clients, the Funds and the Investors.
Each SMA Client and Fund is subject to fees, allocations and expenses as described in the particular SMA
Client’s IMA and each Fund’s applicable Offering Documents. For brokerage practices, see Item 12 of this
Brochure.

Other Expenses of the Funds

Samjo Management shall be authorized, in its sole discretion, to charge to each Fund all expenses which
it deems necessary or advisable relating to the operation and management of each Fund and the winding
up and dissolution of each Fund. Without limiting the generality of the foregoing, the expenses which
Samjo Management shall be so authorized to charge to the Funds shall include the following: all expenses
incurred in order to hold, protect, purchase, sell, deliver and receive assets of the Funds, including, without
limitation, brokerage commissions, delivery charges, interest on margin accounts and other indebtedness,
borrowing charges on securities sold short, custodial fees and bank and service fees; all fees and expenses
for audit and accounting purposes (including third-party accounting services and accounting software); tax
preparation and other tax related expenses (including preparation costs of financial statements, tax returns
and reports to Investors); legal services (including expenses relating to compliance or regulatory filings,
such as Section 13, Section 16 and Form PF, made with respect to each Fund’s assets, as applicable);
expenses relating to distribution and marketing of the Funds; investment expenses such as commissions
and research fees and expenses (including research-related travel, Bloomberg and similar subscriptions
and data services); trading-related technology software costs deemed by Samjo Management to benefit
the Funds, such as portfolio, order and risk management systems; Fund(s)-related insurance costs
(including D&O and E&O insurance for Samjo Management or an affiliate entity); and any other expenses
reasonably related to the purchase, sale, transmittal or preservation of the Funds’ assets, whether incurred
before, during or after the term of one of the Funds.

To the extent that any of the foregoing expenses relate to the operations of one or more of the Funds
...

Item 7: Types of Clients

Samjo Management’s current clients are the Funds and the SMA Clients, where the SMA Clients are
generally high net worth individuals or families, as well as trusts, foundations, endowments, non-profit
organizations and other business entities.

The initial subscription minimums for each Fund is generally US $500,000, as disclosed in the Offering
Documents of each Fund.

The Offering Documents provide the eligibility criteria and minimum investment requirements to be an
Investor in the Fund.

Investors in each Fund at a minimum will be: (i) an “Accredited Investor”, as defined in Regulation D under
the U.S. Securities Act of 1933 (the “Securities Act”); and (ii) a “Qualified Client”, as defined in Rule
205-3 of the Advisers Act.

Samjo Management will target working with SMA Clients with a minimum account size of US $1,000,000
or more. However, the Firm reserves the right to accept SMA Clients of a lesser amount.