Warwick Capital Partners US LP

Item 5 Fees and Compensation

MANAGEMENT FEES

Private Funds

In consideration for management or advisory services supplied to the Private Funds, the Advisers
typically receive management or advisory fees. Management or advisory fees are generally payable
quarterly in advance or quarterly in arears. Specific fee rates and the methodology for calculating fees
are agreed upon at the time a new Private Fund is established and are described in each Private Fund’s
investment advisory agreement with the relevant Adviser. Management or advisory fees paid by a
Private Fund are indirectly borne by the investors in such Private Fund.

CLOs

As compensation for its service as the collateral manager of the CLOs, each CLO will generally distribute
to Warwick CLO Management senior and subordinated management fees.

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PERFORMANCE FEES

In addition, the Advisers may be entitled to certain performance-based compensation when certain
conditions are met. See Item 6 for more information on performance fees.

EXPENSES

In addition to the management fees and performance fees described above, the Funds (and, indirectly,
any investors therein) will typically bear certain additional fees and expenses, including, inter alia:

   •   All expenses that are attributable to the organization of the Fund and the sale of its interests;
   •   The registration and ongoing regulatory and compliance obligations of the Advisers (including,
       without limitation, obligations arising under the EU/UK risk retention rules and/or obligations
       arising to Warwick CLO Management under the Advisers Act); or any contractual undertaking,
       including any risk retention agreement;
   •   The fees and expenses of the Fund’s administrator and its agents (as well as any other third
       parties the Advisers may select to provide similar services), including establishing computer and
       systems connectivity with the Fund administrator and other third-party service providers and
       paying agency, transfer agency, accounting verification (if any) and/or investor registrar services
       and the costs of middle-office and back-office support as provided by the Fund administrator;
   •   Fees, costs and expenses for (i) appraisals, valuations, ratings, strategic advisors or other
       persons who provide services to the Advisers and (ii) legal, auditing, risk management,
       compliance, custodial, accounting, banking, brokerage, administrative agent and collateral agent
       services, tax and other professional services, including fees and expenses associated with the
       preparation of the Fund’s financial statements, tax returns and Schedules K-1 and the
       representation of the Fund and its investors by the partnership representative (if applicable);
   •   The cost of accounting software packages and other software expenses; certain market data and
       research-related fees and expenses;
   •   Costs related to borrowings or other indebtedness incurred by the Fund, including any principal,
       interest, fees and expenses payable under any credit facility and including borrowings by the
       Fund;
   •   External transaction-related expenses;
   •   Premiums for insurance protecting the Advisers and other indemnified parties from liabilities in
       connection with the investment and other activities contemplated by the Fund’s governing
       documents, including an allocable share of any insurance policies obtained by the Warwick
       Group or its affiliates in respect of the Fund and one or more other investment funds or other
       persons sponsored or managed by the Warwick Group and its affiliates;
   •   Expenses incurred in connection with any amendment, waiver or variation of the Fund’s
       governing documents, and any other agreement related to the Fund;
   •   Fees and expenses incurred in connection with negotiating any side letters or business terms;
       the costs and expenses of complying with any side letter provisions;
   •   Any taxes imposed on the Fund or the Advisers, taxes and other governmental charges, fees and
       duties payable by the Fund;
   •   Registered office fees and expenses of the Fund, its general partner or managers, the Advisers or
       Warwick UK, preparing and maintaining the books and records of the Fund, including internal
       costs that the Fund’s general partner, the Advisers or Warwick UK may incur to produce the

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       Fund’s official books and records, external costs in cases where the Fund’s general partner, the
       Advisers or Warwick UK hires a third-party administrator to maintain the Fund’s official books
       and records and any costs of the Fund’s general partner, the Advisers or Warwick UK to oversee
       and manage such third-party administrator and any special purpose vehicles of the Fund; costs
       and expenses of reporting to and communicating with the Fund’s investors;
   •   Costs and expenses of any meeting of the Fund’s general partner or any member of the Warwick
       Group and one or more Fund investors, including all travel, events and hospitality and other out-
       of-pocket costs incurred by the Fund’s general partner or any member of the Warwick Group in
       attending such meetings, fees, costs and expenses incurred in connection with distributions to
       the Fund’s investors (including any in-kind distributions);
   •   Fees, costs and expenses incurred in connection with a transfer of an investor’s interest in the
       Fund or withdrawal or admission permissible under the Fund governing documents, as
       applicable;
   •   Fees, costs and expenses related to a default by a Fund investor; fees, costs and expenses
       relating to litigation, threatened litigation or government, commission or authority inquiry,
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Item 7 Types of Clients

The Advisers currently provide management and advisory services to the Funds. Investment advice is
provided directly to the Funds and not individually to investors in the Funds.

Interests in the Funds are offered pursuant to available exceptions under the 1933 Act and the 1940 Act.

Investors in the Funds may include, without limitation, high net worth individuals, pensions, profit
sharing plans, trusts, endowments, estates, corporations, limited liability companies and limited
partnerships.

This Brochure may be provided to current or prospective investors in a Fund, together with the Fund’s
governing and offering documents and other related documents, prior to or in connection with such
person’s consideration or execution of an investment in a Fund, and may subsequently be provided in
the Advisers’ discretion or, annually, at the request of an investor in the Fund(s). Investors and other

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recipients should be aware that while the Brochure may include information about the Funds, as
necessary or appropriate, it should not be considered to represent a complete discussion of the
features, risks or conflicts associated with any Fund. More complete information about each Fund is
included in the Fund’s governing and offering documents, which may be provided to current and eligible
prospective investors only by the Adviser or another authorized party.

In no event should this Brochure be considered to be an offer of interests in a Fund or relied upon in
determining to invest. It is also not an offer of, or agreement to provide, advisory services directly to
any recipient. Rather, this Brochure is designed solely to provide information about the Advisers for the
purpose of compliance with certain obligations under the Advisers Act and, as such, responds to
relevant regulatory requirements under the Advisers Act, which may differ from the information
provided in an offering document. To the extent that there is any conflict between discussions herein
and similar or related discussions in any offering document, the offering document shall govern.