Sourcerock Group LLC

Item 5: Fees and Compensation
As compensation for our advisory services to our Clients, we, or our affiliates, generally receive a
management fee based on assets under management and performance-based compensation (“incentive
allocation”) as set forth in the applicable offering documents.
Management Fees
Management fees generally range from 0% to 1.50% per annum and are calculated and payable monthly in
arrears.
Incentive Allocation
Clients are generally subject to an annual incentive allocation equal to 15% to 55% of net eligible profits,
which is paid to Sourcerock or its affiliates. If the value of an investor’s investment has decreased at the
end of an accounting period, we will not charge an incentive allocation in respect of any subsequent
increases until such increases have caused the investor’s investment to exceed its previous highest value
(its “High Water Mark”).
We have the right to waive or reduce the management fee and/or incentive allocation with respect to any
investor in a Sourcerock Fund or any other Client. Certain investors in the Sourcerock Funds and other
Clients of Sourcerock may have different fee arrangements from those described above.

Additional Fees and Expenses
As part of our investment advisory services, we may invest Client assets in mutual funds (which include
money market funds), Master Limited Partnerships (“MLPs”) and Exchange-Traded Funds (“ETFs”). The
fees that a Client pays to Sourcerock for investment advisory services are in addition to the fees and
expenses charged by mutual funds, MLPs or ETFs, (described in each such fund’s prospectus) to their
shareholders. These fees will generally include a management, custodial and transfer agent fee and other
fund expenses.
Our fees are exclusive of, and Clients may incur certain other fees and expenses, including brokerage
commissions, banking fees, interest, custodial fees, transaction fees, and other investment related costs and
expenses, including research expenses (such as computer software and hardware, news and information
services and licensing costs which benefit our clients). Brokerage commissions, custodial fees and other
transaction expenses and fees are typically imposed by broker-dealers, custodians and other third parties.
Please refer to Item 12 for a description of the factors we consider in selecting or recommending broker-
dealers for client transactions and determining the reasonableness of their compensation.
Clients may also be subject to organizational, operating, administrative, legal, audit and other professional
expenses. Clients may also bear their share of expenses attributable to regulatory filings which are made
with respect to the Client’s holdings. In some instances, certain clients will be responsible for extraordinary
expenses, including the expenses of litigation. Each Client will be responsible for their own taxes. Please
refer to the applicable governing documents of a Client for more information.
Client costs and expenses are the responsibility of, and may be paid directly by, the applicable Client.
However, where we have the ability to do so in respect of our Clients, we may pay Client costs and expenses
directly out of our own account for and on behalf of the Client, and in those cases, we are entitled to
reimbursement from the Client. Certain costs and expenses may be incurred for the benefit of, or be shared
by, multiple clients which may include Clients which do not bear any responsibility for such costs and
expenses. Such shared expenses generally will be allocated across the applicable Clients pro rata or in such
other manner as we deem appropriate. We may directly bear the responsibility for the portion of such shared
costs and expenses otherwise allocable to one or more Clients which benefit from such shared costs and
expense.
It is critical that all Clients refer to the relevant operating documents for a complete understanding of how
fees are deducted from their assets. The information contained herein is a summary only and is qualified in
its entirety by the relevant Client’s operating documents.

Item 7: Types of Clients
Sourcerock provides investment advisory services to pooled investment vehicles that operate as private
investment funds where an affiliate of Sourcerock is the General Partner. Sourcerock is also a sub-advisor
to other pooled investment vehicles. In the future Sourcerock may provide advisory services to Institutional
Investors. An investor in a Sourcerock Fund must be an “accredited investor” within the meaning of
Regulation D under the Securities Act of 1933, and a “qualified client” within the meaning of the Advisers
Act or a "qualified purchaser" within the meaning of the Investment Company Act of 1940. Each investor
in the Sourcerock Funds is required to represent that their investment is being acquired for its own account,
for investment, and not with a view to resale or distribution. Investments in the Funds are suitable only for
sophisticated investors for whom an investment in the Fund does not constitute a complete investment
program and who fully understand, are willing to assume, and have the financial resources necessary to
withstand the risks involved in the Fund's specialized investment program and to bear the potential loss of
their entire investment in those investments. The minimum initial investment in a Sourcerock Fund is
$1,000,000 but is negotiable on a case-by-case basis.