Union Bancaire Privee Asset Management LLC

Item 5 Fees and Compensation

The specific manner and amount of fees paid to UBPAM is documented in each clients’ written advisory
agreement. UBPAM reserves the right to negotiate fees which are different than those reflected below.

U.S. Equity Fund

UBPAM is paid an asset-based investment management fee (the “Management Fee”) of 0.5% per annum
of the net assets of the respective client account. The Management Fee is payable quarterly in arrears,
based on the quarterly average of the daily net asset value of such client account.

UBPAM may also be paid performance-based compensation, which is compensation that is based on a
share of capital gains on or capital appreciation of the assets of a client account over a client specified
benchmark.

UBPAM does not deduct the investment management fee from the client accounts. Rather, UBPAM bills
the clients.

Neither UBPAM nor any of its supervised persons receives any compensation for the sale of securities or
other investment products. All UBPAM client compensation is as disclosed above.

1 As disclosed in the Form ADV Part 1, Schedule B members of the de Picciotto family are indirectly
and/or through attribution 75 percent or more shareholder of Union Bancaire Privée S.A. indirectly
through the holding companies: H de P S.A. (Holding de Picciotto), HdeP continuation Groupe S.A. and
CBI Holdings S.A.

Item 7 Types of Clients

UBPAM currently has a single client that is a commingled investment vehicle, the US Equity Fund, that is
structured as a sub-fund to a Luxembourg SICAV. UBPAM, however, is not precluded from advising
additional clients and types of clients that are not listed above.

UBPAM has not established a minimum dollar value to provide investment management services to its
clients.