Telligent Investment Management LLC

Item 5: Fees and Compensation

(a) Management Fees

    Telligent receives an investment management fee from the net asset value of each applicable
    feeder fund. For:

    •   Telligent Fund, Ltd. and Telligent Fund, LP, Telligent charges a management fee of 0.375% per
        calendar quarter (approximately 1.50% annually); and

    •   Telligent Fund II, LP, Telligent charges a management fee of 0.25% per calendar quarter
        (approximately 1.00% annually).

   Management fees are non-refundable and are payable quarterly in advance on the first day of
   each calendar quarter. Once calculated and finalized, the fee is deducted directly from the
   assets of the applicable feeder fund.

   If a subscription or redemption occurs at a time other than quarter-end, the management fee is
   adjusted on a pro rata basis to reflect the portion of the quarter during which assets were under
   management. Any overpayment resulting from such adjustment is refunded accordingly.

   Management fees may be negotiated in certain circumstances. Any variation from the stated fee
   schedule is granted solely at Telligent’s discretion. As a result, similarly situated investors may
   pay different management fees.

(b) Fund Expenses

   Each feeder fund bears its own expenses and its pro rata share of the Master Fund’s expenses. In
   addition to the management and performance-based fees disclosed in this brochure and the
   applicable offering documents, Fund expenses generally fall into the following categories:

   •   Trading and investment-related expenses, including brokerage commissions, margin
       interest, custodial and clearing costs, research, market data, trading platforms, portfolio
       management and trade cycle systems, software, due diligence, and related investment
       infrastructure costs;

   •   Operating expenses, including fund administration, audit, tax, legal, insurance, director
       fees, investor reporting, and other professional services, including third-party providers
       supporting accounting, middle- and back-office functions, reconciliation, data aggregation,
       trade processing, monitoring, quotation, and valuation;

   •   Organizational and offering expenses, including legal, accounting, regulatory filing, and
       investor admission costs; and

   •   Extraordinary expenses (if any), including litigation, regulatory matters, proxy-related costs,
       and restructuring expenses.

   Investment-related infrastructure and research expenses may include real-time financial data
   services, news and research subscriptions, third-party research providers, publications,
   databases, data processing and analytical software, and specialized data or analysis relating to
   companies, sectors, or asset classes in which the Fund invests or intends to invest.

   Where the Master Fund invests in other pooled investment vehicles or investment funds,
   investors indirectly bear a proportionate share of the management fees, performance fees (if
   any), and operating expenses charged by such underlying funds, resulting in an additional layer
   of expenses.

   Expenses are allocated in accordance with the Fund’s governing documents. Telligent or its
   affiliates may voluntarily bear certain expenses or waive reimbursement; any such arrangement
   may be modified or terminated at any time.

   A complete description of Fund expenses is set forth in the applicable offering documents.

(c) Other Compensation

   Telligent does not receive sales compensation, placement fees, subscription fees, or other
   transaction-based compensation in connection with investments in the Fund. Telligent does not
   impose early withdrawal or redemption fees (commonly referred to as “soft lock-ups”).

    Telligent’s sole compensation from the Fund consists of the management fees described above
    (and any performance-based compensation, if applicable and disclosed in the Fund’s offering
    documents, if relevant).

(d) Withdrawals and Liquidity

    Investors generally may withdraw capital upon 30 days’ prior written notice, subject to a
    minimum withdrawal amount of USD 10,000 as of each month-end. Investors in Telligent Fund II,
    LP may withdraw capital only as of each calendar quarter-end.

    Unless otherwise approved by Telligent, partial withdrawals are not permitted if such withdrawal
    would reduce an investor’s capital account balance below USD 1,000,000.

    Telligent may, in its sole discretion, permit withdrawals that vary from these terms.

(e) 5% Holdback Provision

    If an investor requests withdrawals aggregating 95% or more of the value of its capital account
    within any fiscal year, Telligent will distribute 95% of the investor’s opening capital account
    balance for that fiscal year (based on unaudited data) and will retain a 5% balance as a
    holdback.

    This 5% holdback will be paid, without interest, within 15 days following completion of the
    December 31 audited financial statements for the fiscal year in which the withdrawal occurred,
    subject to adjustment based on the audited results.

    Notwithstanding the foregoing, Telligent may, in its sole discretion, authorize payment of the full
    withdrawal amount (based on unaudited data) without applying the holdback.

(f) Conflicts of Interest Relating to Fees

    Because Telligent’s management fee is calculated as a percentage of assets under
    management, Telligent has a financial incentive to increase the amount of assets managed and
    to discourage withdrawals. Telligent addresses this conflict through internal compliance policies
    and procedures, including fiduciary oversight and periodic review of fee calculations.

    Investors should carefully review the applicable offering documents for a detailed description of
    fees, expenses, withdrawal rights, and related risks.

Item 7: Types of Clients

Telligent’s advisory client is the Fund itself; investors in the Fund are not treated as advisory clients
of Telligent for purposes of individualized advisory services.

Interests in the Fund are offered and sold exclusively to investors who satisfy applicable eligibility
and suitability requirements under U.S. federal securities laws and other applicable regulations.
Investors generally include high-net-worth individuals, family offices, and institutional investors.

U.S. investors participating through a U.S. feeder fund must qualify as “qualified clients” within the
meaning of Rule 205-3 under the Investment Advisers Act of 1940, which permits Telligent to receive
performance-based compensation. Investors must also meet applicable accredited investor or
other eligibility standards as set forth in the Fund’s offering documents.

The minimum initial capital contribution is generally USD 1,000,000, and the minimum additional
subscription is USD 50,000. Telligent may, in its sole discretion, accept a lesser amount. There is no
stated minimum or maximum aggregate amount that investors must contribute to the Fund.