TIG Advisors LLC

Item 5. Fees and Compensation

FEES

The Adviser receives an investment management fee from each Client generally ranging between 1.0%
to 1.5% per annum based on the value of the Client’s net assets under management.

Investment management fees are charged each quarter or month, as applicable, typically in arrears
based on the total market value of the assets in the client account (including net unrealized appreciation
or depreciation of investments) on the last day of the quarter or month, as applicable. If a new client
account is established during a quarter or month, as applicable, or a client makes an addition to its
account during a quarter or month, as applicable, the investment management fee will be prorated for the
number of days remaining in the quarter or month, as applicable. If a client’s investment management
agreement is terminated or a withdrawal is made from a client account during a quarter or month, as
applicable, the fee payable to the Adviser will be calculated based on the value of the assets on the
termination date or withdrawal date and prorated for the number of days during the quarter or month, as
applicable, in which the investment management arrangement was in effect or such amount was in the
account.

Generally, the Adviser is also entitled to receive performance-based compensation, which is
compensation that is based on a share of capital gains on or capital appreciation of the assets of a Client.
This compensation may be paid or reallocated to the Adviser or to a related person of the Adviser and is
generally an amount equal to 20% of a Client’s net profits.

The Adviser, in its sole discretion, may waive or reduce the investment management fee and/or the
performance-based compensation with regard to investors that are employees or affiliates of the Adviser,
relatives of such persons, and for certain strategic investors.

With respect to Private Funds, the administrator deducts the investment management fee from such client
accounts and pays the Adviser upon proper instruction from the Adviser to the administrator. With
respect to clients that are separately managed accounts, the Adviser does not deduct the investment
management fee from client accounts. Rather, the Adviser bills clients or, in the alternative, the client
authorizes the custodian of the account to pay the applicable fee to the Adviser.

EXPENSES

In addition to paying investment management fees and, if applicable, performance-based compensation,
Clients will also be subject to other expenses such as custodial charges, brokerage fees, commissions
and related costs; interest expenses; taxes, duties and other governmental charges; fees paid to any
advisory board or governance committee; fees paid to any Board of Directors; administrator fees and
expenses, research (including research-related travel) and technical support expenses (including risk
management and collateral management services and software and trade order management systems);
security master expenses, external consulting services (if any), compliance and reporting expenses and
expense attributable to regulatory filings, and the preparation thereof and technology related thereto
(including Section 13, Section 16, Form D, Form PF, the Foreign Account Tax Compliance Act, anti-
money laundering compliance, state security filings, general regulatory compliance and non-US position
reporting filings, if applicable, and any other non-U.S filings), all compliance costs and expenses
associated with the Clients in complying with the rules related to private fund advisers under the U.S.
Investment Advisers Act of 1940, as amended, costs associated with foreign exchange transactions; legal
expenses; accounting expenses (including, in the Adviser’s discretion, accounting software and
technology related thereto); audit and other service provider expenses, including the Clients’ allocable
share of the fees and expenses of any third-party providers of back office and middle office services
relating to trade settlement, accounting and related operations for the Clients; organizational expenses;

other portfolio expenses; and costs, expenses and fees (including, investment advisory and other fees
charged by investment advisers with, or funds in, which the Client’s invests) associated with products or
services that may be necessary or incidental to such investments or accounts.

Client assets may be invested in money market mutual funds, exchange-traded funds or other registered
investment companies. In these cases, the Client will bear its pro rata share of the investment
management fee and other fees of the fund, which are in addition to the investment management fee paid
to the Adviser. Certain Private Funds are organized in a master-feeder structure. Feeder funds bear a
pro rata share of the expenses associated with the related master fund.

In addition, clients will incur brokerage and other transaction costs. Please refer to Item 12 of this
brochure for a discussion of the Adviser’s brokerage practices.

The allocation of expenses by the Adviser between it and any client and among clients represents a
conflict of interest for the Adviser. The Adviser has adopted an expense allocation policy that is designed
to address this conflict. The Adviser generally expects to allocate common expenses among Clients pro
rata based on Clients’ assets under management as of the beginning of the month in which the expenses
are accrued. The Adviser may, however, deviate from pro rata allocations where it believes that it is fair
and reasonable to do so. When reviewing whether to allocate an expense other than pro rata, the
Adviser may consider the following factors: relative use of a product or service, the nature or source of a
product or service, the relative benefits derived by Clients from a product or service, or other relevant
factors.

Notwithstanding the foregoing, the Adviser will bear any portion of a common expense that is allocable to
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Item 7. Types of Clients

The Adviser provides investment advisory services on a discretionary basis to Private Funds intended for
institutional investors and other sophisticated investors and separately managed accounts.

With respect to any client that is a Private Fund, any initial and additional subscription minimums are
disclosed in the offering memorandum for such Private Fund. With respect to any Client that is a
separately managed account, the Adviser generally requires a minimum of $50 million to open such
account. If the account size falls below the minimum requirement due to market fluctuations only, a client
will not be required to invest additional funds with the Adviser to meet the minimum account size.