Tremblant Capital LP

Item 5         Fees and Compensation
As provided under the Agreements and in practice, Tremblant is paid an annual management fee
(a) with respect to Hedge Fund Clients, generally ranging from 1% to 1.5% of the net asset value
of the respective Hedge Fund, and (b) with respect to the Long Only Fund Clients, generally
ranging from 0% to 1.25% of the net asset value of the respective Long Only Fund.

With respect to the Hedge Funds and the Long Only Funds, management fees are generally
charged each month in advance based on the total market value of the assets in the respective
Client account on the first day of the month.

With respect to SMAs, management fees are generally charged each month or quarter based on
the total market value of the assets in the Client account on the first day of the period, on the
last day of the period or on a daily basis. If a Client makes a subscription or addition to its account
during a period, the management fee may be prorated. If a Client’s investment management
agreement is terminated or a withdrawal is made from a Client account during a period, the fee
payable to the Adviser may be prorated for the number of days during the period in which the
investment management arrangement was in effect or such amount was in the account.

The applicable fees for the UCITS Funds are set forth in the governing documents.

Tremblant or a related person receives annual performance-based compensation from the
Hedge Funds generally ranging from 15% to 20% of the net profit of such Client account, subject
to certain loss carry-forward provisions, as set forth in each Hedge Fund’s Memorandum, as
applicable. For the Long Only Funds and SMAs, Tremblant currently receives annual
performance-based compensation based on the terms of particular subclasses of the Long Only
Funds or SMA’s investment management agreement, which may be subject to a hurdle rate.

Tremblant reserves the right to waive or modify the management fee and/or any performance-
based compensation for investors in the Hedge Funds and Long Only Funds that are, among other things,
members, principals, employees or affiliates of Tremblant or the relatives of such persons and for
certain large or strategic investors.

Performance-based compensation is charged to investors at fiscal year-end or upon redemption
pursuant to the terms of the governing documents for each respective Client.

Investment management fees and performance-based compensation (if applicable) are
deducted from Client accounts by the Client’s administrator or other designee. In addition to
paying investment management fees and, if applicable, performance-based compensation, Client
accounts, in accordance with each Client’s governing documents, may also be subject to other
operating expenses including, but not limited to, custodial and administrative, legal, accounting,
tax, auditing and other professional expenses including, but not limited to, regulatory
compliance, filings and reporting expenses (to the extent related to the Client or its investments),
translation services for foreign language research reports, proxy service expenses, director and
officer insurance, errors and omissions insurance, consultants’ fees, the cost of listing the Client's

common shares on any exchange, brokerage fees, commissions and related costs; interest
expenses; taxes, research and research-related expenses including, but not limited to, expenses
associated with identifying and evaluating proposed investments, the cost of third-party research
providers and consultants, industry conferences and travel expenses. In addition, the Client
accounts will be responsible for all investment expenses such as commissions, interest on margin
accounts and other indebtedness, custodial fees, bank service fees and other expenses related to the
purchase, sale or transmittal of Client account holdings.

Client assets may be invested in ETFs. In these cases, the Client will bear its pro rata share of the fees
and expenses of the ETF, which are in addition to any fees or other compensation paid to the
Adviser. Client assets may be invested in a master-feeder structure. Feeder funds bear a pro rata
share of the expenses associated with the related master fund unless the expense is specific to a
particular feeder fund only. In addition, Clients will incur brokerage and other transaction costs.
Please refer to Item 12 of this Firm Brochure for a discussion of the Adviser’s brokerage
practices.

Item 7         Types of Clients
The Adviser’s Clients are Hedge Funds, Long Only Funds, SMAs, and UCITS Funds (as further
described in Item 4).

With respect to a Client that is a Hedge Fund or Long Only Fund, initial and additional
subscription minimums are disclosed in the pooled investment vehicle’s Memorandum.
Additionally, the Adviser provides investment advisory services to SMAs, provided such SMAs
meet certain size and other appropriate criteria as determined by the Adviser in its sole discretion
on a case-by-case basis..