Verso Partners LP

Item 5: Fees and Compensation

The fees applicable to each of the Funds are set forth in detail in the corresponding Offering
Documents. A brief summary of such fees is provided below.

Management Fee

Verso is paid an investment management fee (“Management Fee”) per annum based on the
target invested capital of the Funds or Net Asset Value.

The Firm, in its sole discretion, may waive or modify the Management Fee for any Investor.

Verso’s fee schedule is omitted because this brochure is only being delivered to qualified
purchasers as defined in the Investment Company Act of 1940, as amended. Management fees
generally are payable by investors quarterly, in advance, as of the beginning of each calendar
quarter. Management fees are deducted directly from the capital account of each investor.

Our advisory fees are generally not negotiable.

Other Types of Fees or Expenses

Verso is authorized to incur and pay in the name and on behalf of the Funds all expenses which
they deem necessary or advisable.

The Firm is responsible for and shall pay, or cause to be paid, all of their own ordinary
administrative and overhead expenses, including, without limitation, all costs and expenses
related to rent, furniture, fixtures, equipment, office supplies, clerical expenses and all salaries,
bonuses and benefits paid to, or on behalf of, personnel of the Firm.

The Funds will bear all expenses relating to its ongoing structure and operation, including: (i)
the management fee; (ii) all investment-related costs and expenses (i.e., expenses that, in the
Firm’s sole discretion, are related to the investment of the Funds’ assets, whether or not such
investments are consummated), including commissions and charges, interest on margin
accounts and other indebtedness, expenses relating to short sales, clearing and settlement
charges, option premiums and custodial and service fees, research-related expenses (including
research-related travel expenses), expenses relating to consultants, attorneys, brokers or other
professionals or advisors who provide research, advice or due diligence services with regard to
investments; (iii) fees and expenses related to portfolio exposure and performance management
systems, risk management services and software related to trade reconciliation, treasury,
margin, financial and counterparty management, risk monitoring, performance reporting,
valuation quotation services (e.g., Bloomberg terminals, historical and live financial data and
other similar services and data feeds) and trade order management systems (including systems
that facilitate trade compliance, commission management, stock locates and transaction cost
analysis, and third party service providers used for implementation, custom reporting, updates,
consultations, support, maintenance, monitoring and data extracts); (iv) the Funds’ legal,
accounting, tax preparation and other tax-related expenses (including preparation and mailing
costs of financial statements, tax returns and other reports to Limited Partners), auditing,
consulting and other professional expenses; (v) third-party administration costs, fees and
expenses (including any costs, fees and expenses related to investor communications, relations,
reporting or other investor materials, tax preparation and related reporting, performance
information, data extraction and other types of reporting and any audit or accounting services
provided by a third-party administrator); (vi) all fees and charges of custodians, clearing
agencies and banks; (vii) compliance and reporting expenses and expenses attributable to
regulatory filings that are made with respect to the Funds or assets of the Funds (including
Section 13, Section 16, Form D, Form PF, FATCA, anti-money laundering compliance, state

security filings, general regulatory compliance and non-U.S. position reporting filings, if
applicable, and non-U.S. filings, if any); (viii) the Funds’ pro rata share of Fund-related
insurance costs (including the Funds’ pro rata portion of director’s and officer’s insurance,
errors and omissions insurance, fidelity insurance and other similar policies covering the
General Partner and/or the Firm); (ix) any taxes (including but not limited to any withholding
taxes, transfer taxes, stamp duties and other governmental or self-regulatory agency-related
charges or duties); (x) all costs and expenses incurred in attempting to protect and enhance the
value of a Fund investment (including any fees and expenses associated with any pending or
threatened litigation, audit, investigation, administrative or other proceeding, as well as any
settlement costs); (xi) any fees and expenses related to the Funds’ liquidation, if applicable;
(xii) fees paid to proxy and securities class action advisory firms; (xiii) expenses relating to the
offer and sale of Interests and withdrawals and transfers thereof; (xiv) other reasonable
expenses related to the purchase, sale, preservation or transmittal of the Funds’ assets and (xvii)
any extraordinary expenses (e.g., indemnification expenses).
The Funds will bear all costs and expenses relating to the organization of the Funds and to the
offering of Interests (including government filing fees, stamp duties or other taxes, legal and
accounting fees, printing and mailing expenses and any other organizational costs, if any). To
the extent that the General Partner or the Firm advances organizational expenses that should be
borne by the Funds and does not waive reimbursement of such expenses, the General Partner
or the Firm will be reimbursed by the Funds.
In general, each Investor will bear its proportionate share of the Funds’ expenses on a pro rata
basis with respect to the size of such Investor’s target invested capital or with respect to the
relative net asset value of the shares held by such Investor, as applicable.

Notwithstanding the foregoing, the General Partner and/or the Firm, as applicable, may
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Item 7: Types of Clients

Our clients are the Funds, as described in Item 4 above, and the Funds are generally open to,
among others, institutions, pension plans, endowments, high net-worth individuals, financially
sophisticated individuals, and other sophisticated investors.

To invest in the Funds, investors generally must be, among other things, “accredited investors”
as defined in Rule 501(a) of Regulation D under the U.S. Securities Act of 1933, as amended,
and either “qualified clients” as such term is defined in Rule 205-3 under the Investment
Advisers Act of 1940 (as amended, the “Advisers Act”), or “qualified purchasers” as such term
is defined in Section 2(a)(51)(A) of the Investment Company Act of 1940, as amended (the
“Company Act”).