Sound Energy Partners Inc

Item 5. Fees and Compensation

The Adviser charges each client an investment management fee based on the value of the client’s assets
under management ranging from 1.0% to 2.0% per annum.

The investment management fees are calculated and charged to clients either quarterly or monthly in
advance based on the total market value of the assets in the client account (including net unrealized
appreciation or depreciation of investments and cash, cash equivalents and accrued interest) on the first
day of the month or quarter, as applicable. If a new client account is established during a quarter or a
client makes an addition to its account during a quarter, the investment management fee will be charged
as of the date of the additional contribution based on the value of the assets as of the applicable date and
will be prorated for the number of days remaining in the quarter. Contributions are not accepted intra-
month.

These fees are not negotiable.

The Adviser or a related person of the Adviser will also receive performance-based compensation, which
is based on a share of capital gains or on capital appreciation of the assets of a client. This
compensation may be paid to the Adviser or to a related person and is equal to 20% of net profits.

These fees are not negotiable.

The Adviser deducts the investment management fee from client accounts by instructing the client’s
custodian.

In addition to investment management fees and, if applicable, performance-based compensation, client
accounts will also be subject to other investment expenses such as custodial charges, brokerage fees,
commissions and related costs; interest expenses; taxes, duties and other governmental charges;
transfer and registration fees or similar expenses; costs associated with foreign exchange transactions;
other portfolio expenses; administrator, accounting and legal fees and expenses; organizational
expenses; and costs, expenses and fees associated with products or services that may be necessary or
incidental to such investments or accounts. Client assets may be invested in ETFs or other registered
investment companies. In these cases, the client will bear its pro rata share of the investment
management fee and other fees of the fund, which are in addition to the investment management fee paid
to the Adviser.

Certain client assets are invested in a master-feeder structure. Feeder funds bear a pro rata share of the
expenses associated with the related master fund.

To the extent an investor in a private pooled investment vehicle withdraws during a quarter, the investor
will be refunded its pro rata portion of the investment management fee paid in advance, based on the
number of days remaining in the quarter.

Item 7. Types of Clients

The Adviser’s clients are private pooled investment vehicles. With respect to such clients, any initial and
additional subscription minimums are disclosed in the offering memorandum for the pooled investment
vehicle. The Adviser may, in the future, provide investment advisory services to other types of clients.