Superstring Capital Management LP

Item 5 - Fees and Compensation

Management Fees

With respect to the Funds and SMA, Superstring predominantly receives Management Fees at
an annual rate between 1.0%-2.0% (the “Management Fee”), depending on the particular share
class of the Funds. The Management Fee is deducted from the Funds quarterly in advance and
prorated for any investment period less than a full calendar quarter. The Management Fee is
refundable if the advisory contract is cancelled prior to the end of a payment period. The
Management Fees is described in more detail in the relevant Fund Documents.

Superstring Capital Management, LP                                           Form ADV Part 2A

While the Management Fee is generally non-negotiable, Superstring may waive or modify the
Management Fee for certain Investors that are members, employees or affiliates of Superstring,
relatives of such persons, or for certain large or strategic Investors.

Other Expenses

The Funds bear their own expenses and generally are allocated a proportionate share of
investment and operational expenses. These expenses may include, among other things: legal,
administration, audit and accounting expenses (including third-party accounting services);
proxy voting services; investment expenses such as commissions, research fees, market data
and similar expenses; interest on margin accounts and other indebtedness; borrowing charges
on securities sold short; custodial fees; bank service fees; Fund-related insurance costs
(including D&O and E&O insurance for Superstring and the general partner); and any other
expenses related to the purchase, sale, or transmittal of the Funds’ assets. The inclusion of an
expense category in a Fund’s Fund Documents will not impose on Superstring an obligation to
charge an expense (or the full amount of that expense) to that Fund; instead, permitted
expenses will be allocated and charged in Superstring’s discretion to the Fund(s) it deems
appropriate

If Superstring incurs any of the above expenses on behalf of the Funds, then the Firm will
allocate such expenses among the Funds in proportion to the size of the investment made in
the activity by each Fund, to the entity to which the expense relates, or in such other manner
as Superstring considers fair and reasonable.

The Firm shall bear its own overhead costs or expenses, including, without limitation, the
salaries and benefits of the Firm’s employees performing the services as described in the Fund
Documents.

For a more detailed discussion of brokerage and transaction costs, Investors are directed to

Item 7 - Types of Clients

The Firm provides discretionary advice to its Funds and SMA. The Fund Documents provide
the eligibility criteria and minimum investment requirements.

In general, each Investor in the Funds is a “qualified purchaser” as defined in Section 2(a)(51)
of the Investment Company Act of 1940, as amended. Although Superstring has the authority
to accept subscriptions of a lesser amount, the required minimum initial investment is generally
US$5,000,000 for the Hedge Fund and US$1,000,000 for the PE Fund.

Superstring also manages one separately managed account.