SPQ Asia Capital Limited

Item 5: Fees and Compensation

The fees applicable to each Fund are set forth in detail in each Fund’s offering documents,
the Manager receives an annual management fee range up to 2% in respect of the net asset
value of the Funds without accrual of unearned performance fees. The management fees are
generally paid monthly in arrears.

The Manager will pay the Firm an advisory fee, which will be calculated in accordance with
the terms of the Investment Advisory Agreement.

The Funds may from time to time enter into Side Letters providing for changes in
management and performance fees.

SPQ Asia Capital Limited                                                 Form ADV Part 2A

The Funds pay for organizational and initial offering expenses as well as ongoing operating
expenses, including but not limited to, accounting, auditing, tax preparation, legal,
administration, research, and trading costs. The Funds may incur brokerage and other
transaction costs. For further details on the Firm’s brokerage practices refer to Item 12 of
this Brochure.

Fees and compensation are generally deducted from the assets of each Fund. As discussed
above, management fees are generally deducted on a monthly basis.

Clients with SMAs will pay generally the same Management Fee as stated above.

Item 7: Types of Clients

SPQ provides investment advice to the Funds. Investors in the Funds primarily consist of
institutional investors and high net worth individuals.

The minimum initial investment amount for each Fund is generally US$1,000,000 and the
minimum subsequent investment amount is US$100,000. In certain circumstances, minimum
investment amounts may be amended by directors.

All SMA clients are required to enter into an Investment Management Agreement (“IMA”)
with the Firm. The minimum account size for each client is US$ 100 million, although the
Firm can consider lowering the minimum amount on a case by case basis.