SAX Capital LLC

ITEM 5 – FEES AND COMPENSATION

    A. Fees

SAX Capital or an affiliate (typically an affiliated special purpose vehicle acting as the general partner of
the Fund) is entitled to receive incentive compensation in the form of a carried interest in the profits
generated by the Fund (“Carried Interest”). The total Carried Interest is typically 20% of a Fund’s net profits
and is split between SAX Capital and the Sub-Adviser, if any. The share payable to SAX Capital is typically
up to 5% of the Fund’s net profits.

For certain Clients, including the Access Fund, SAX Capital is entitled to receive a management fee for its
advisory services, as provided for in the applicable operating agreement or investment management
agreement between SAX Capital and such Client. Occasionally, the Funds enter into side letters relating
to management fees and Carried Interest with investors that effectively reduce the aggregate fees
charged to the Funds or certain investors.

    B. Charging Fees

Fees are detailed in the Governing Documents for each Fund and may include Carried Interest or
management fees. Carried Interest is deducted from Client assets and is payable after Fund expenses
have been paid, and investors have received a return of their capital contributions, a hurdle rate of return,
or some other contractually specified metric. Management fees, when applicable, are typically deducted
from Client assets and paid quarterly in advance or in arrears, as described in each Fund’s Governing
Documents.

    C. Other Fees and Expenses

Each Fund is responsible for the legal, accounting, administrative, and other organizational expenses
incurred in its own formation, as well as a share of such expenses for the general partner to such Fund.
These expenses will typically include, but are not limited to, the private placement of the limited
partnership interests, blue sky filing costs and preparation of the relevant formation documents and,
partnership agreement and operating agreement.

In addition, the Funds will bear the costs and expenses directly related to their portfolio investments,
including but not limited to brokerage commissions, interest on borrowings, fees due to unaffiliated
advisors and consultants, travel expenses, specific expenses incurred in obtaining or maintaining systems,
research and other information utilized with respect to the Funds’ investment programs and any
withholding or transfer taxes imposed on the Funds. The Funds will also bear all out-of-pocket costs of
their administration, including accounting, audit, administration, compliance and legal expenses, costs of
any litigation or investigation involving Fund activities, and third-party costs associated with reporting and
providing information to existing and prospective investors. Generally, expenses of the Funds will be
borne pro rata by their investors. Fund expenses will typically be capped at a certain amount, as described
in the Governing Documents of each Fund.

The Funds will not have their own separate employees or offices. SAX Capital will be responsible for its
own general operating and overhead costs (excluding any fund accounting or administrative functions and
related expenses).

The Clients may incur brokerage and other transaction costs. Please see Item 12 for a further description
of such brokerage costs.

    D. Timing of Fee Payments

Clients are not required to pay fees in advance. As described above, management fees, if applicable, are
generally paid quarterly. The timing and calculation of management fees are described in the Governing
Documents of each Fund.

    E. Payments to Supervised Persons

The Adviser does not compensate any of its Supervised Persons directly or indirectly for the sale of
securities or other investment products.

ITEM 7 – TYPES OF CLIENTS

SAX Capital’s Clients are generally pooled investment vehicles that are exempt from registration under
the Investment Company Act of 1940, as amended. Investment advice is provided to the Funds (subject
to the direction and control of the general partner of each such Fund, if applicable) and not individually
to the investors in such Fund. Investors in the Funds are accredited investors, as defined in the Securities
Act of 1933, and include high net worth individuals, endowments, trusts, other investment funds, and
other U.S. and non-U.S. investment vehicles.