Twentyfour Asset Management US LP

Item 5.         Fees and Compensation
The Firm is compensated by TwentyFour UK for its services to TwentyFour UK via a cost
reimbursement calculation. The Firm also receives management fees for advisory and sub-advisory
services provided to the segregated mandate, the Private Fund and the RICs.

The Private Fund and the segregated mandate each pay the Firm a management fee within 10 business
days following each month end. TwentyFour US reserves the right to reduce or waive this management
fee with respect to any fund investor.

The Firm has voluntarily agreed to cap total operating expenses of the Private Fund at an annualized
rate of 0.495% of the average daily net assets of the Private Fund. If the total operating expenses exceed
that amount, TwentyFour US will bear such excess and will not be reimbursed by the Fund.

The Private Fund may bear all of its respective administrative and operational expenses, including, the
organizational expenses paid in connection with the formation of the fund; the expenses relating to the
initial offering of the interests (generally referred to as syndication costs); legal fees; printing and mailing
costs, including the costs of printing and distributing annual reports and statements; software, data
bases and other technical and telecommunications services; hardware directly related to the Private

Fund; custodial fees, bank service fees and charges; regulatory and compliance expenses directly related
to the Private Fund as well as filing fees and expenses (including government and regulatory filings
made in respect of the Private Fund, such as Form PF preparation and filing expenses); the Custodial
Trustee’s fees; the Delaware Trustee’s fees; the fees of any outside service providers such as a third-
party administrator (including investor-related administrative services for the Private Fund, as well as
middle- and back-office services for the Firm in relation to the Private Fund); insurance expenses;
accounting, audit, and tax preparation expenses; and taxes (including interest and penalties) imposed
on the Private Fund and all expenses incurred by the Private Fund or the Firm in connection with any
tax audit, proceeding or investigation of the Private Fund.

The Private Fund will bear all its investment expenses, including interest expenses, brokerage
commissions (including options trades), spreads, mark-ups on securities, swaps and forwards,
transaction costs, taxes on securities held in the investment portfolio, financing expenses in respect of
the Private Fund’s use of derivatives, and any other expenses that the Firm reasonably determines
should be expenses of the Private Fund.

To the extent that an expense is shared among the Private Fund and other client accounts of the Firm
and its affiliates, such expense will be allocated on a fair and equitable basis, as determined by
TwentyFour US in its sole discretion.

Information on fees and expenses paid by TwentyFour UK clients and the RICs and shareholders will
be outlined in the relevant advisory agreements or offering documents.

Where TwentyFour US enters into investment advisory or sub-advisory agreements with U.S. clients,
all fees and compensation to be received by TwentyFour US will be outlined in the relevant investment
advisory agreements.

Item 7.        Types of Clients
TwentyFour US provides discretionary sub-advisory services to two RICs, and also provides
discretionary investment advisory services to the Private Fund and a segregated mandate as described
above.

Investors for the Private Fund may be ERISA or other employee benefit accounts, but ultimately, the
Private Fund is designed only for sophisticated persons who are able to bear a loss of their capital
contributions in the Private Fund. Investors are generally required to make a minimum initial
investment of $5,000,000.

Separate mandate clients will be reviewed and approved on a case-by-case basis but typically would not
be accepted by TwentyFour US except for an institutional client with a minimum initial investment of
$5,000,000 and a commitment to grow investment in the mandate to at least $50,000,000 within 3 years.
TwentyFour US does not manage assets of segregated mandates belonging to individuals.

TwentyFour US also provides advisory services to TwentyFour UK. TwentyFour UK provides
discretionary investment management services to non-U.S. institutional investors via segregated
mandates, to an Irish Private Credit Fund that is available to US and non-US investors, to two
Guernsey-based closed ended funds that are listed on the London Stock Exchange and targeted toward
non-US investors, and to UCITS funds in Europe and the UK which are targeted toward non-U.S.
investors. The UCITS funds are all organized outside the U.S. and not offered to U.S. persons.