Weber Capital Management LLC

Item 5 – Fees and Compensation

Compensation provided to WCM is negotiable and varies, but typically consists of the following
components. First, WCM typically charges an annual fee of 1.5-1.7% of assets under management,
which amount is payable in advance in quarterly installments at the beginning of each calendar
quarter based on the net market value of the client's account on the date the fee accrues and becomes
payable.

Second, WCM typically receives a performance allocation or fee. With respect to the Funds, WCM is
allocated from each limited partner a performance allocation equal to 16.5%-20% of net profits
(including both realized and unrealized gains and losses) otherwise allocable to that limited partner.

WCM believes that its fees are competitive with fees charged by other investment advisers for
comparable services. Comparable services may be available, however, from other sources for lower
fees than those charged by WCM.

The specific manner in which fees are charged by WCM is established in a client’s written agreement
with WCM. WCM will generally bill its fees in advance on a quarterly basis. WCM deducts its
management fees and receives performance allocations from each Fund’s assets. For other accounts
(not the Funds) the fees will either be directly debited from the client’s custodial account or invoiced
for the client to pay.

With respect to the Funds, management fees will be charged beginning with the first full quarter
following each capital contribution made by a limited partner. Withdrawals by limited partners
require 120 days advance notice so there will be no unearned fees in the event of withdrawal.

WCM’s fees are exclusive of brokerage commissions, transaction fees, and other related costs and
expenses, which will be incurred by the client. Clients may incur certain charges imposed by
custodians, brokers and other third parties such as custodial fees, transfer taxes, wire transfer and
electronic fund fees, and other fees and taxes on brokerage accounts and securities transactions.
Client assets may be invested in mutual funds and exchange traded funds, which charge management
fees in addition to WCM’s fees. Those fees are described in the funds’ prospectuses. WCM will not
receive any portion of these commissions, fees, and costs.

A/74046234.2                                       4

Item 12 describes the factors that WCM considers in selecting or recommending broker-dealers for
client transactions and determining the reasonableness of their compensation (e.g., commissions).

Item 7 – Types of Clients
WCM provides portfolio management services to private investment funds and U.S. and international
institutions.

WCM generally requires each limited partner of each Fund to make a capital contribution to the Fund
of at least $1 million, but WCM, as the general partner of each Fund, reserves the right to waive the
minimum. Limited partners generally must be (a) “accredited investors” as defined in Regulation D
under the Securities Act of 1933, as amended. We generally require such investors to make
representations concerning their sophistication as investors and their ability to bear the risk of loss
of their entire investment in the Fund.

WCM generally requires a minimum of $10 million to open a separately managed account but
reserves the right to waive this minimum. WCM generally requires separately managed account
clients to make representations concerning their sophistication as investors and their ability to bear
the risk of loss of their entire investment under WCM's management.