Timefolio Asset Management Singapore PTE Ltd

Item 5. Fees and Compensation

Advisory Fees and Compensation. Advisory fees may vary with each Client and are explained more fully
in each Client’s Governing Documents. The Investment Manager is generally paid an asset-based
investment management fee ranging from .50% to 1.5% per annum of the net assets of the Private Funds
and a management fee of 1% based on the notional capital invested on behalf of the Sub-Advised Account.
In the Private Funds, investment management fees are charged each month in arrears based on the total
market value of the assets in the Private Funds. Fees for the Sub-Advised Account are invoiced monthly in
arrears. The Investment Manager does not receive an asset-based investment management fee from the
Affiliate Sub-Advised Account.

Performance-Based Compensation. Performance-based compensation may vary with each Client and
is explained more fully in each Client’s Governing Document. The Investment Manager is generally paid
performance-based compensation on its Clients, which is compensation that is based on a share of capital
gains on or capital appreciation of the assets of a Client. This compensation will be paid to the Investment
Manager and ranges from 10% to 20% per annum. The Investment Manager will also be paid performance-
based compensation with respect to the Affiliate Sub-Advised Account, which is approximately 6% per
annum.

The Investment Manager or its affiliates, as applicable, may waive, modify or calculate differently the asset-
based investment management fee and any performance-based compensation paid by any Client or
investor in a Private Fund on a case-by-case basis. Asset-based investment management fees will be
prorated for partial periods. Performance-based compensation is generally charged at fiscal year-end, but
may be charged at other times pursuant to a Client’s Governing Documents.

Other Fees and Expenses. The Private Funds will bear (or will reimburse the Investment Manager for) all
expenses relating to its ongoing structure and operation including: (i) all transactions carried out by a Private
Fund or on its behalf and (ii) the administration of the Private Fund, including (a) the charges and expenses
of legal advisers and auditors, (b) brokers’ commissions (if any), borrowing charges on securities sold short
and any issue or transfer taxes chargeable in connection with any securities transactions, (c) all taxes and
corporate fees payable to governments or agencies, (d) fees of directors (“Directors”) of a Private Fund

(such as registration under the Directors Registration and Licensing Act, (as amended) and expenses, (e)
interest on borrowings, including borrowings from the prime brokers and custodians, (f) fees and expenses
incurred by the Investment Manager in connection with the provision of its investment management services
including, but not limited to, research related expenses, system related expenses, reasonable travel and
accommodation costs, and such other costs and expenses incurred for the purpose of protecting or
enhancing the value of a Private Fund’s assets, (g) fees and expenses of custodians, counsel, independent
accountants, auditors, administrators, and other professionals, experts and consultants; (h) communication
expenses with respect to investor services and all expenses of meetings of investors in a Private Fund and
of preparing, printing and distributing financial and other reports, proxy forms, placement memoranda and
similar documents, (i) the cost of insurance (if any) for the benefit of the Directors, (j) fees and expenses of
any custodian appointed by the Private Fund, (k) litigation and indemnification expenses and extraordinary
expenses not incurred in the ordinary course of business and (l) all other organizational and operating
expenses. The expenses to be borne by a Sub-Advised Account and Affiliate Sub-Advised Account will be
determined pursuant to the Sub-Advised Account’s and Affiliate Sub-Advised Account’s Governing
Documents.

The allocation of expenses by the Investment Manager between it and any Client and among Clients
represents a conflict of interest for the Investment Manager. To address this conflict, the Investment
Manager has adopted and implemented policies and procedures for the allocation of expenses. The
Investment Manager allocates expenses to each Client in accordance with the Client’s arrangements with
the Investment Manager (including applicable Client disclosures). The Investment Manager seeks to
allocate shared expenses for products and services benefiting the Investment Manager in a fair and
reasonable manner. The Investment Manager may use a variety of methods to allocate common expenses
among Clients, including methods based on assets under management, relative use of a product or service,
the nature or source of a product or service, the relative benefits derived by each Client from a product or
service, the size of a Client’s investment, or other relevant factors. Nonetheless, the portion of a common
expense that the Investment Manager allocates to a Client for a particular product or service may not reflect
the relative benefit derived by such Client from that product or service in any particular instance. The
Investment Manager may deviate from this standard allocation method if it determines that an expense
disproportionately benefits a particular Client or group of Clients.

Item 7. Types of Clients

The Investment Manager’s clients consist of Private Funds, a Sub-Advised Account and an Affiliate Sub-
Advised Account. The Investment Manager, however, is not precluded from advising any type of Client.
With respect to any Client that is a Private Fund, any initial and additional subscription minimums are
disclosed in the offering memorandum for the Private Fund. The Investment Manager is under no obligation
to accept any prospective Client or investor and may decline acceptance of a prospective Client or investor
in its sole discretion.