Shaolin Capital Management LLC

Item 5. Fees and Compensation

The specific manner in which SCM will charge fees with respect to the Funds is set forth in the
applicable Feeder Fund’s private offering memorandum. The Master Fund (and, indirectly, the
Feeder Funds) will pay a management fee to SCM, calculated and payable monthly in arrears,
equal to 1.5% per annum of the net assets of the Funds. In addition, the Funds make an
incentive allocation to TigerStyle, LLC, the general partner or sponsor of the Funds (the
“Sponsor”), as applicable equal to 20% of the net profit in each investor’s capital account, subject
to a high-water mark.

As compensation for the services it will provide to the Private Funds, SCM will be entitled to
an annual management fee that is typically calculated and paid monthly in arrears, subject to the
terms of SCM’s agreement with the investors. In addition, SCM is entitled to performance-based
compensation, which typically, is equal to a portion of the distributions of net profit
attributable to the Private Funds, subject to the terms of SCM’s agreement with the investors.

SCM and the Sponsor reserve the right, in their sole discretion, to reduce or waive the management
fee or incentive allocation, respectively, for current or prospective investors.

Each Feeder Fund will bear its operating, offering and investment-related expenses and its pro
rata share of the expenses of the Master Fund, including, without limitation, legal expenses,
internal and external accounting, research fees and expenses (including subscription costs,
quotation services, data fees, and research related travel), audit and tax preparation expenses, any
taxes, filing fees, Fund-related insurance costs (including D&O and E&O insurance), directors’

fees and expenses, administrator and custody fees and expenses, brokerage commissions,
borrowing charges (including interest on borrowings). In no event shall the Feeder Funds bear, or
be responsible for, any expenses, excluding management fee and investment expenses, in a fiscal
year that exceed an annual rate of 0.50% of the average monthly trading level for the Feeder Funds
during such fiscal year (the “Expense Cap”).

Each Fund shall reimburse SCM and its affiliates for any such operating, offering and investment-
related expenses incurred by SCM or its affiliates on behalf of such Fund.

Overall fees may vary by Advisory Client and are determined in accordance with the applicable
governing documents of such Advisory Client.

Item 7. Types of Clients

SCM provides investment advisory services to pooled investment vehicles, private funds and
separately managed accounts. In the future, it may also provide such services to high net worth
individuals and families, corporate pension and profit-sharing plans, charitable institutions,
foundations, endowments, municipalities, registered mutual funds, private investment funds, trust
programs, sovereign funds, foreign funds such as UCITs and SICAVs, and other U.S. and
international institutions.

The minimum subscription amount for each Feeder Fund is $1,000,000. The Sponsor, an affiliate
of SCM, may waive the minimum account or subscription requirements at its sole discretion.