Weiss Multi-Strategy Advisers LLC

Item 5         Fees and Compensation
Advisory Fees and Compensation
A. Describe how you are compensated for your advisory services. Provide your fee schedule.
   Disclose whether the fees are negotiable.

   Please refer to the appropriate Confidential Private Offering Memorandum, Confidential
   Explanatory Memorandum, Prospectus, Statement of Additional Information or Investment
   Management Agreement for information relating to our fee schedule.

Payment of Fees

B. Describe whether you deduct fees from clients’ assets or bill clients for fees incurred. If clients
   may select either method, disclose this fact. Explain how often you bill clients or deduct your
   fees.

   The fees for each of the Adviser’s private investment fund and its mutual fund are verified by
   the funds’ administrator which transfers the fees from the fund to the Adviser. Separately
   managed accounts are invoiced for fees incurred or inform the Adviser as to the amount of the
   fee which is verified by the Adviser. The Firm’s proprietary capital does not pay fees. The
   charitable account does not pay fees for management of its managed accounts.
   Management fees are paid quarterly in arrears, except for the mutual fund, which is monthly in
   arrears. Incentive allocations, if any, are made at year-end and upon redemptions, except for the
   separately managed accounts. Redemption fees, if applicable, are paid upon redemptions. With
   respect to separately managed accounts, most of any incentive fee is paid after the end of the
   year or quarter (depending on the account).

Other Fees and Expenses
C. Describe other types of fees or expenses clients may pay in connection with your advisory
   services, such as custodian fees or mutual fund expenses. Disclose that clients will incur
   brokerage and other transaction costs, and direct clients to the section (s) of your brochure that
   discuss brokerage.
   Each client is responsible for all its own ongoing operational expenses relating to the client,
   including administrator fees, legal, tax preparation and audit expenses, certain insurance costs
   (including D&O and E&O insurance), all investment expenses such as commissions, research
   and consulting fees, interest on margin accounts and other indebtedness, borrowing charges on
   securities sold short, custodial fees, fees for transaction-based order management and execution
   systems, bank service fees, fees or expenses associated with insuring its assets, organizational
   expenses and any other reasonable expenses related to the purchase, sale or transmittal of client
   assets. Each client is also indirectly responsible for the fees and expenses paid to unaffiliated
   investment vehicles in which they may invest. The charitable account pays for investment-
   related expenses but does not pay other operational expenses. Please refer to Item 12 for
   information about brokerage.

Prepayment of Fees
D. If your clients either may or must pay your fees in advance, disclose this fact. Explain how a
   client may obtain a refund of a pre-paid fee if the advisory contract is terminated before the end
   of the billing period. Explain how you will determine the amount of the refund.
   Clients do not pay fees in advance.

Additional Compensation and Conflicts of Interest
E. If you or any of your supervised persons accepts compensation for the sale of securities or other
   investment products, including asset-based sales charges or service fees from the sale of mutual
   funds, disclose that fact.
   Neither the Adviser nor its supervised persons accept such compensation.

Item 7     Types of Clients

Describe the types of clients to whom you generally provide investment advice, such as individuals,
trusts, investment companies, or pension plans. If the Adviser has any requirements for opening or
maintaining an account, such as minimum account size, disclose the requirements.
The Adviser’s clients consist of private investment funds, a mutual fund, UCITS fund, separately
managed accounts for institutional investors, a charitable organization and entities affiliated with
the Adviser.

With respect to any client that is a pooled investment vehicle or separately managed account for
institutional investors, any initial and additional subscription minimums are disclosed in the offering
memorandum or Prospectus for the pooled investment vehicle or the investment management
agreement for the separately managed account. There is no account minimum for the charitable
organization whose account the Adviser manages. The foregoing amounts can be waived by the
Adviser.