Versor Investments LP

Item 5 – Fees and Compensation

The Funds

Compensation received by Versor and/or an affiliate for their investment advisory services to the Funds is
comprised of management fees based on a percentage of assets under management. The fees are deducted directly
from the applicable Fund’s account. The rate of management fees may differ based on share class. Investors in the
Funds ultimately determine in which share class they invest.

Management and Performance Fees

For its investment management services to the Funds, the applicable Versor Adviser is entitled to receive a
management fee (“Management Fee”) in advance as of the first calendar day of each month equal to a percentage
of the net asset value of each series of shares, and in some cases a performance fee (“Performance Fee”) on an
annual or quarterly basis based on the fee schedule below. Versor may reduce or waive any Management Fee
at any time with respect to certain investors or investments, including family members and affiliated
entities.

                                                         Management             Performance
           Strategy
                                                            Fees                    Fees
           Versor Stock Selection                             0.00%                 20.00%
           Versor Merger Arbitrage                            1.00%                 10.00%
           Versor Trend Following                             0.90%                   Nil
           Versor Global Macro – Share Class A                0.90%                   Nil
           Versor Global Macro – Share Class B                1.00%                 10.00%
           Versor GETT Alpha                                  1.50%                 20.00%
           Versor GETT Directional                            1.50%                 20.00%
           Versor Equity Prism                                1.50%                 20.00%
           Versor Alternative Risk Premia Low                 0.65%                   Nil
           Vol
           Versor Alternative Return Capture                  1.00%                   Nil
           Versor Alternative Risk Premia                     1.00%                   Nil

In addition to the management and performance fees, Versor may also charge costs associated with data usage.

Other Types of Fees or Expenses

In addition to the Management and Performance Fee, the Funds also bear certain costs and expenses and its
affiliates attributable to investment advisory services.

In the event that an investor seeks to redeem shares prior to the end of the twelfth month following the
subscription date on which such shares were issued, an early redemption fee equal to 1% of what otherwise would
have been the proceeds of such redemption will be retained by the relevant Fund for the benefit of other remaining
shareholders of the Fund.

Fund investors bear indirectly the fees and expenses charged to the Funds. These fees vary, but typically include legal,
auditing, accounting and other professional expenses (for example, accounting and tax advisory and compliance
fees, tax compliance and filings related costs, legal fees charged in negotiating prime brokerage, ISDA Master
Agreements and related custody and segregation agreements, repurchase agreements or other trading or financing
agreements); administration expenses and fees including, but not limited to, the provision of any
investment/management related reporting; research expenses; investment expenses such as commissions, ticket
charges, prime brokerage fees, give up fees, borrow costs, interest on margin accounts and other indebtedness and

similar charges, as well as the expenses incurred in connection with trading; order and execution management
systems; custodial fees; bank and wire service and transaction fees; regulatory reporting costs of the Funds; costs
associated with data usage; and other expenses and legal fees related to the purchase, sale and maintenance of Fund
assets as determined by Versor. The Fund’s operating expenses will also include the fees and expenses of the Directors
(including errors and omissions insurance) and other costs associated with the Fund’s business, such as the costs
and expenses associated with issuing new shares as well as revising the Fund’s offering and operative documents.

With respect to the Fund, Versor will limit the amount of certain specified non-trading expenses, as described
to investors in the Fund, including but not limited to audit fees, administrator charges, legal fees, registered
office charges and amortization of organization charges by bearing over time the excess, if any, of such
non-trading expenses over an amount equivalent to an annual rate of 35 basis points (or 0.35%) of the Net
Asset Value of the Fund. To the extent Versor has paid any Expense Excess and the non-trading operating
expenses in a future month are less than the Monthly Expense Cap, Versor may be reimbursed any Expense Excess
(up to the Monthly Expense Cap).

Fund investors should review all fees charged by the Funds, broker-dealers, and other third parties to fully
understand the total amount of fees to be paid by the Funds. Please also see “Item 12—Brokerage Practices” below
for additional information.

Separately Managed Account Fees

The fees associated with any separately managed account will be negotiated on a case-by-case basis. Such
fees generally include a management fee based on a percentage of the value of the assets managed, to be paid on either
a monthly or quarterly basis (in advance or in arrears), as well as performance-based fees (please see Item 6 for more
information). Versor may also charge costs associated with data usage to separately managed accounts.

Item 6 – Performance Based Compensation and Side-by-Side Management

Versor Adviser is also entitled to receive an allocation of profits (“Performance Allocation”) on an annual or quarter
...

Item 7 – Types of Clients

Versor generally provides investment advice to private investment vehicles, including the Funds, and separately
managed accounts, such as pension plans, high net worth investors, institutions, and sovereign wealth plans.
Investment advice is provided directly to the Funds and not individually to the Fund investors. Any minimum
initial and additional subscription requirements are disclosed in the governing documents for the relevant Fund.
Investors will be required to make certain representations when investing in a Fund through the execution of a
subscription agreement and other documents. Interests in the Funds are not registered under the Securities Act
of 1933 (as amended), and such Funds are not registered under the Investment Company Act of 1940 (as amended).
Accordingly, interests in the Funds are offered and sold exclusively to investors satisfying the applicable
eligibility and suitability requirements either in private transactions within the United States or in offshore
transactions.