Springhouse Capital Management LP

Item 5 – Fees and Compensation

Advisory Contracts and Fees

5.A. Adviser Compensation

Fees charged to Investors are described in detail in the Fund’s offering documents. In addition,
Springhouse and the Fund’s general partner, Springhouse Asset Management, LLC have the
authority to waive or reduce fees charged to certain Investors.

Asset-Based Compensation

Springhouse is paid a management fee, payable quarterly in advance, of 1.5% per year of the
value of each limited partners’ interest in the Fund, calculated as of the first day of the calendar
quarter. The Investment Manager may, in its sole discretion, waive or reduce the Management
Fee as to the Interests of one or more Limited Partners.

Performance-Based Compensation

The Fund’s general partner, Springhouse Asset Management, LLC is entitled to receive an
annual performance-based allocation equal to 20% of the net capital appreciation credited to
each Investor in the Fund, subject to a high water mark. The performance allocation, if any, is
generally calculated and determined as of December 31st of each year, but may be calculated on
other dates, such as upon the termination of the Fund and the final liquidation of its assets. If an
Investor withdraws on a date other than December 31st, the performance allocation will be
calculated through the date of withdrawal with respect to such Investor. Any performance-based
compensation complies with Rule 205-3 under the Investment Advisers Act of 1940, as amended
(the “Advisers Act”).

5.B. Direct Billing of Advisory Fees

Management fees and performance allocations are deducted directly from the Fund’s account
with its custodian and in accordance with the invoices prepared by Springhouse and the Fund’s
offering documents.

5.C. Other Non-Advisory Fees

The management fee and the performance allocation are exclusive of brokerage commissions,
transaction fees, and other related costs and expenses that are incurred by the Fund and indirectly
borne by Investors. The Fund incurs certain charges for services by custodians, brokers,
administrators, lawyers, auditors and other third parties such as custodial fees, wire transfer and
electronic fund fees, audit and legal fees, and other fees and taxes on brokerage accounts and
securities transactions. The Fund’s portfolio may include positions in mutual funds or exchange
traded funds that also charge management fees. Such charges, fees, and commissions are
exclusive of, and in addition to, Springhouse’s fees. Springhouse does not receive any portion of
these commissions, fees, and costs.

Item 12 of this disclosure describes the factors Springhouse considers in selecting broker-dealers
for Fund transactions and determining the reasonableness of their compensation (e.g.,
commissions).

5.D. Advance Payment of Fees

Fees include an annual management fee of 1.5%, which is generally payable quarterly as of the
first day of the quarter. Management fees are charged on a prorated basis with respect to capital
contributions accepted on days other than the first business day of a calendar quarter. If any
Investor withdraws all or a portion of its capital account from the Fund on any day other than the
last day of a calendar quarter, such Investor’s capital account will be credited, on the withdrawal
date, with the unearned portion of the management fee attributable to the percentage withdrawn
as of such date.

5.E. Compensation for Sale of Securities or Other Investment Products

Neither Springhouse nor its supervised persons accept compensation for the sale of securities or
other investment products, including asset-based sales charges or service fees from the sale of
mutual funds.

Item 7 – Types of Clients

Springhouse’s only client is the Fund, which is a private pooled investment vehicle, organized as
a Delaware limited partnership.

The minimum initial investment in the Fund is $2,000,000 and each additional capital
contribution must be in the amount of $250,000. The General Partner, in its sole discretion, may
accept new or additional capital contributions in lesser amounts, may refuse to accept any such
new or additional contributions in whole or in part, or may accept additional capital contributions
on other dates. Management fees will be charged on a pro-rated basis with respect to capital
contributions accepted on days other than the first business day of a calendar quarter. An
Investor also may be required to withdraw all or part of its interest in the Fund upon provision of
ten days’ notice. All Investors much be qualified purchasers and qualified investors.