Triaxx Asset Management LLC

Item 5 Fees and Compensation

TAM is entitled to the following management and performance fees.

   •     Structured Product Vehicles. In connection with quarterly distributions by a
         Structured Product Vehicle, TAM is entitled to an incentive management fee
         (“Incentive Management Fee”) equal to 50% of the sum of interest proceeds and
         principal proceeds remaining after payment of all other amounts pursuant to the
         applicable interest proceeds waterfall and principal proceeds waterfall. No such
         proceeds have been available since before 2014 and accordingly, no fees have been
         paid from the Structured Product Vehicles to TAM since before 2014. No Incentive
         Management Fees are expected to be incurred in the near future. To the extent funds
         are available in accordance with the applicable priority of payments, TAM also is
         entitled to a quarterly subordinate management fee from each Structured Product
         Vehicle equal to 0.05% per annum of the quarterly asset amount of the applicable
         vehicle. As before, since no proceeds have remained after payments of principal in
         interest through the waterfall, no Subordinate Management Fee has been accrued or
         paid by the Structured Product Vehicles to TAM since before 2014, and none are
         expected in the near future. Any unpaid subordinate management fee that is deferred,
         as a result of the operation of the priority of payments, is accrued and paid on the
         next quarterly distribution date to the extent funds are available to make the payment.
         Incentive management fees and subordinate management fees payable to TAM by the
         Structured Product Vehicles will become payable to TAM subject to payment of
         other amounts under the waterfalls and priorities of payments for the applicable
         Structured Product Vehicle. These fees are generally deductible from the assets of the
         Structured Product Vehicle. The foregoing description of fees payable to TAM by the
         Structured Product Vehicles is qualified in its entirety by the fee terms and
         descriptions set forth in the applicable Offering Documents.

Other Fees
In addition to the fees set forth above, the Funds pay some additional costs, fees and
expenses, including trustee fees. Funds are responsible for paying for expenses in operating
them, including issuer, trustee, accounting, and litigation expenses.

Item 7         Types of Clients

TAM’s only clients are the Current Clients, which are structured investment vehicles relating
to CDOs that invest in structured credit investments, including CDOs. TAM does not
currently intend to offer investment advisory services to any client other than the Current
Clients.

TAM does not impose any minimum requirements on the Funds. The Funds, however, are
not taking on new investors.