TMF Capital Management LLC

Item 5.          Fees and Compensation

A.       Advisory Fees. The compensation the Fund pays us is set forth in its Offering Document. We,
in our sole discretion, may assess a higher or lower management fee or rate of performance-based
compensation with respect to certain investors in the Fund.

We reserve the right to waive or reduce any fees or compensation payable to us at any time, provided that
any such waiver or reduction does not result in an increase in the management fees or allocations
attributable to any other investor’s capital account.

B.      Payment of Fees. The Fund’s management fee is paid monthly, payable in advance and
calculated as of the beginning of each month. The Fund’s incentive allocation is calculated as of: (i) each
December 31 and (ii) each capital withdrawal by such member.

C.       Other Fees or Expenses. The Fund bears its own expenses on a pro rata basis, including, but
not limited to, marketing expenses and expenses associated with the distribution and sale of shares; fees
in connection with the custody of assets of the Fund; securities brokerage commissions and other
transaction costs; margin and interest expenses; legal, accounting, consulting, valuation and other
professional fees; computer service costs; “key man” insurance; the costs of research and execution
services which are of benefit to the Fund and are not otherwise provided by brokers; due diligence
expenses including travel and lodging; audit and tax preparation fees; directors’ fees; regulatory and filing
expenses; and extraordinary expenses, such as litigation costs and the cost of proceedings or examinations
by or involving governmental bodies or self-regulatory organizations. Such costs reduce appreciation
and do not include any of our allocable overhead.

                                      TMF Capital Management LLC
                                          Form ADV Part 2A
                                           January 11, 2012

More information regarding our brokerage practices is contained below in Item 12.

D.       Other Compensation. Our firm and our employees do not accept compensation for the sale of
securities or other investment products.

Item 7.          Types of Clients

Our only client is the Fund. Fund minimum investment requirements are set forth in the Offering
Document.