Troob Capital Management LLC

Item 5 : Fees and Compensation

Management Fees

Fund I and Fund II
Investors in Fund I and Fund II will be generally charged a management fee as follows: (i) prior to the
termination of the Commitment Period, as defined in the Governing Documents, an annual management
fee of 2% of the total Commitment and (ii) thereafter, an annual management fee of 2% of the cost basis
of unliquidated investment positions, as defined in the Governing Documents. For the avoidance of doubt,
unliquidated investment positions generally includes, among other items, cash and cash equivalents, except
that in the case of Fund II, “investment positions” excludes cash-equivalent investments funded with any
credit facility proceeds. Please refer to the Governing Documents for additional terms and details related
to the management fee for each fund.

The management fees are paid quarterly in advance and shall be pro-rated for partial periods. Troob, in
its full discretion, can reduce, waive, or calculate differently the management fee with respect to any
Investor.

Fund III
Investors in Fund III will generally be charged a management fee as follows: (i) prior to the termination of
the Commitment Period, as defined in the Governing Documents, an annual management fee of 0.75% of
the total unfunded Commitment and 1.75% of the total capital contributions and (ii) thereafter, an annual
management fee of 1.75% of the cost basis of unliquidated investment positions, as defined in the Governing
Documents. For the avoidance of doubt, unliquidated investment positions generally includes, among other
items, cash and cash equivalents, except that “investment positions” excludes cash-equivalent investments
funded with any credit facility proceeds. Please refer to the Governing Documents for additional terms and
details related to the management fee.

The management fees are paid quarterly in advance and shall be pro-rated for partial periods. Troob, in
its full discretion, can reduce, waive, or calculate differently the management fee with respect to any
Investor.

TCM Stone
Investors in TCM Stone will generally be charged a management fee of 1.0% per annum of the cost basis
of unliquidated investment positions, as defined in the Governing Documents. For the avoidance of doubt,
unliquidated investment positions generally includes, among other items, cash and cash equivalents, except
that “investment positions” excludes cash-equivalent investments funded with any credit facility proceeds.
Please refer to the Governing Documents for additional terms and details related to the management fee.

Troob Capital Management LLC                                                                Form ADV Part 2A

The management fees are paid quarterly in advance and shall be pro-rated for partial periods. Troob, in
its full discretion, can reduce, waive, or calculate differently the management fee with respect to any
Investor.

RB Holdings Funding LLC
Investors in RB Holdings Funding LLC are not charged a management fee. RB Holdings Funding LLC
received a portion of a one-time 2.25% origination fee for a senior secured loan made from Duck Pond
Lending LLC, a Delaware limited liability company, and receives a $6,250 quarterly servicing fee. The
origination fee and the annual servicing fee cover costs related to set-up, arrangement, administration, and
ongoing monitoring.

Separate Account
TFI does not pay a management fee to Troob in connection with advisory services provided to TFI as a
separate account client. TFI invests, in part, in limited partnerships and private investment vehicles managed
by third-parties, which charge management and performance fees. Such fees charged by third-party managers
are not received by Troob.

TFI also invests in the Fund Clients alongside other Investors and on substantially similar terms. TFI pays
the management, performance, and other fees applicable to each of the Funds.

Other Fees

The Funds have paid and shall pay, subject to the Adviser’s discretion, for their organizational, initial, and
certain ongoing offering expenses as well as for their operating expenses, including but not limited to,
accounting, auditing, tax preparation, legal, administration, research, consulting and trading costs. The Clients
incur brokerage and other transaction costs in addition to the management fees and performance fees charged
by Troob. For further details on the Adviser’s brokerage practices, refer to Item 12 of this Brochure.

Troob (or its personnel or affiliates) have in the past and may in the future earn certain commitment fees,
break-up fees, consulting fees, directors’ fees or advisory fees in connection with the investments made
by the Fund Clients. One hundred percent of any such fees will generally be credited (directly or indirectly)
to the Fund Clients. Please refer to the Fund Client Governing Documents for more information regarding
fees and offsets applicable to a specific Fund Client.

For Fund II, Fund III and TCM Stone, for the avoidance of doubt, the General Partner and/or its affiliates
may receive compensation in connection with certain co-investment opportunities or other activities
outside of the Fund. Any such amounts will be deemed additional compensation and will not reduce or
otherwise offset the Management Fee or the Carried Interest that the Investment Manager, as defined in
the Governing Documents, and the General Partner are entitled to, pursuant to the Governing
Documents. The receipt of compensation by the General Partner and/or its affiliates in connection with
co-investment opportunities and other activities outside of the Fund, creates a conflict of interest for the
General Partner and/or its affiliates. Please refer to Item 8 and Item 10 for additional information about
conflicts of interest.

Fees are deducted from each Investors’ capital account by instructing the Fund’s custodian or
administrator.
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Item 7 : Types of Clients

As discussed in Item 4, the Adviser’s Clients consist of privately offered pooled investment vehicles and
one separate account for the family office of the Managing Members. Investors in the pooled investment
vehicles managed by Troob primarily include family offices, endowments, and high net worth individuals.
The Funds rely on the 3(c)(7) exemption from registration as an investment company as set forth under
the Investment Company Act of 1940, as amended (the “Investment Company Act”). Investors in the
Fund Clients must meet the requirements for an “accredited investor” as defined in the Securities Act of
1933 and a “qualified purchaser” under the Investment Company Act.

To invest in the Funds, the Adviser generally requires a minimum investment between $1,000,000 and
$5,000,000, although the Adviser may accept lesser amounts, in its sole discretion.