Savoir Faire Capital Management LP

ITEM 5 – FEES AND COMPENSATION

The extent to and specific manner in which management fees, performance-based compensation
and expenses are charged by Savoir Faire is set forth in each client’s applicable written agreement
with Savoir Faire.

Management fees for client accounts generally range from 0.5% to 1.5% (annually) of assets under
management and are charged monthly or quarterly in advance. Performance-based compensation
generally ranges from 15% to 30% (annually) of net realized and unrealized trading gains subject
to a high water mark and is charged annually in arrears. Performance-based compensation with
respect to clients will conform to Rule 205-3 under the Advisers Act, as applicable.

Under certain circumstances, fees are negotiable. The factors that determine whether or not fees
will be negotiable include, among others, the relationship between Savoir Faire and the client,
amount of assets under management, lock-up and liquidity terms, and type of advisory services to
be provided. Management fees, performance-based compensation, and expenses charged with

respect to certain of Savoir Faire’s clients may be similar to or different than those charged to other
clients (and those charged to investors in any Funds).

Generally, Savoir Faire invoices Managed Account clients directly for management fees and
performance-based compensation and does not have authority to deduct such amounts from client
assets held with a custodian or otherwise. Upon termination of any account during any partial
period or upon investment other than at the beginning of the normal investment cycle, fees charged
to clients will be prorated.

The expenses that are charged to each client is determined on a case-by-case basis according to
the specific terms of the client’s investment management agreement with Savoir Faire or
Memorandum, as applicable. In general, clients are solely responsible for all of the costs and
expenses in operating their accounts, including, without limitation, expenses directly related to
investment transactions and positions for the account, brokerage commissions and custody
charges, interest and commitment fees on loans and debit balances and bank charges, as well as
any legal fees and costs (including settlement costs) arising in connection with any litigation or
regulatory investigation instituted against us in connection with the affairs of the account, and any
withholding or transfer taxes imposed on the client as a result of its earnings, investments or
withdrawals. Such costs and expenses are exclusive of and in addition to Savoir Faire’s fees and
performance-based compensation. For a summary of our brokerage practices, please see Item 12
below.

Savoir Faire’s management fees, performance-based compensation, and expenses may be reduced
or waived in certain circumstances, including with respect to investments by Savoir Faire
personnel and other related persons of Savoir Faire in any future Funds.

Savoir Faire may invest on behalf of client accounts in money market funds, exchange-traded
funds (“ETFs”) or similar fee-bearing products or private investment funds and accounts that are
managed by other investment managers. In that case, such client accounts generally would be
responsible for paying the fees and expenses associated with such products, which would be in
addition to the fees and expenses discussed above.

ITEM 7 – TYPES OF CLIENTS

Savoir Faire expects to provide investment advice to various types of clients, including, without
limitation, institutional clients, private investment funds, funds-of-funds, private or public pension
plans, and/or family offices.

Savoir Faire will determine the minimum investment for a Managed Account (and any other
conditions for opening and maintaining a Managed Account) on a case-by-case basis, but it is
generally expected to be at least $20 million.