West Tower Group LLC

Item 5 – Fees and Compensation

Advisory Fees, Payment of Fees

Private Funds

The fees and other compensation for advisory services to Clients are set forth either in the Private
Fund’s applicable Private Fund Governing Documents. Generally, each Client pays WTG a fee
equal to a percentage (typically, 1%-2% per annum) of the capital account balances of each Client
as of the first day of each calendar quarter (the “Management Fee”). The Management Fees are
generally payable in advance for each calendar quarter.

In addition to the Management Fee, WTG (or an affiliate of WTG which serves as the general
partner of the Private Funds) is generally entitled to a quarterly performance-based fee, generally
ranging from 5% to 20% of net profits allocated to each Private Fund investor, subject to an
applicable “high water mark” (the “Incentive Fee”). The Incentive Fee is determined with respect
to each calendar quarter as of the close of business on the last business day of the respective quarter.

The Private Fund Governing Documents permit WTG (or the general partner of the Private Funds)
to reduce, waive, assign, participate or otherwise share the Management Fee or Incentive Fee
payable with respect to any investor.

Please refer to the individual Private Fund Governing Documents, including each Private Fund’s
Private Placement Memorandum, for additional detail regarding the calculation of the
Management Fee and Incentive Fee. (Item 6 provides further information regarding Incentive Fees,
including conflicts of interest).

Private Fund Additional Fees and Expenses

In addition to the Management Fee and Incentive Fees, the Private Funds generally will bear all of
its organizational expenses and will reimburse WTG and/or the general partners, as applicable, to
the extent that any of them bears organizational or offering expenses on behalf of the Private
Funds.

In general, the Private Funds will bear all of its operating expenses, which include, without
limitation legal fees, marketing expenses (including travel expenses and the cost of marketing
material), premiums for errors and omissions insurance, fidelity insurance and officers and
directors liability insurance for the directors of the applicable Private Fund and WTG (and its
partners, employees and agents), fees payable to the Administrator, the NAV Calculation Agent,
auditing and accounting expenses and other professional fees, regulatory and compliance fees and
expenses, monthly reporting and bookkeeping expenses (including software license fees for
investor reporting and related services, allocated among each of the funds for which WTG serves
as general partner or investment manager, based upon WTG’s best judgment after taking into
account the assets of each fund as a percentage of total assets under management), corporate
licensing and custodial fees, annual fees payable to the governmental entities (including the
Government of the Cayman Islands), due diligence costs (including travel expenses) related to the
selection of External Funds and Managers (including External Fund and Manager selection
expenses paid to third parties) and ongoing monitoring and operational diligence with respect to

existing managers, interest expense associated with any borrowing by the Private Fund under a
line of credit or similar facility and the Private Fund’s pro rata share of the expenses of each Third-
Party Fund in which it invests, including commissions, interest expense, custodial fees and other
trading expenses, general overhead and administrative expenses and compensation to the general
partner or investment manager of each such Third-Party Fund, as applicable.

In addition, as disclosed in Private Fund Governing Documents, certain of the WTG Private Funds
may be responsible for the payment of certain performance-based investment team compensation,
both with respect to internal WTG portfolio management teams responsible for the management
of Direct Investments as well as External Managers. Such payment creates a potential conflict of
interest if there are different levels of such fees payable to internal WTG portfolio management
teams compared to External Managers in that WTG may be incentivized to allocate assets to the
internal portfolio management teams where performance-based compensation is paid to such
portfolio management employees of WTG. Performance-based compensation paid to either
internal WTG portfolio management teams or Managers is typically determined based upon the
performance of the individual internal WTG portfolio manager, External Fund or Manager, so
performance-based compensation may be payable to such internal WTG portfolio manager,
External Fund or Manager, even if a WTG Private Fund loses money during the applicable
calculation period.

Similarly, as permitted and disclosed in Private Fund Governing Documents, the WTG Private
Funds may be responsible for the payment of certain expenses related to third-party middle office
services, such as the trade reconciliation process for Direct Investments, treasury services and
reporting, which expenses would otherwise be borne by WTG.

Current and prospective investors in the Private Funds should refer to the private placement
memorandum or other offering documents of the respective Private Fund for detailed information
with respect to the fees and expenses they may pay in connection with an investment in such
Private Fund. The information contained herein is a summary only and is qualified in its entirety
by such documents.

Managed Accounts

Advisory fees for SMAs are negotiated and depend on a variety of factors including the nature and
size of the account and services to be provided. Managed Account fees will generally include an
asset-based management fee of either a fixed rate or 1.0% and a performance-based allocation/fee
of up to 18.0%. Please refer to the investment management agreement related to any Managed
Account for more information.

Additional Compensation
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Item 7 – Types of Clients

Private Funds

WTG manages and provides investment advisory services to Private Funds for which its related
persons act as general partner or sponsor. Underlying investors in Private Funds typically include
high net worth individuals, banks, thrift institutions, trusts, estates, charitable organizations,
foundations, pension funds, sovereign wealth funds, endowments and other corporations.
Generally, each underlying investor in a Private Fund must be an “accredited investor” as defined
under Rule 501(a) of Regulation D promulgated under the Securities Act of 1933, as amended (the
“Securities Act”) and a “qualified client” as defined under the Investment Advisers Act of 1940,
as amended (the “Advisers Act”). Investors in the Private Funds must meet certain suitability and
other requirements, as set forth in the Private Fund’s Governing Documents.

The minimum initial investment by investors, as set forth in the applicable Governing Documents
ranges between $250,000 to $1,000,000 in the Fund of Funds, ranges between $5,000,000 and
$10,000,000 in the Multi-Strategy Funds and is $1,000,000 in Focused L/S Fund. WTG or the
general partners to the Private Funds may, however, in their sole and absolute discretion, waive or
change the minimum investment amount.

Private Fund Side Letter Agreements

WTG and/or the general partners to the Private Funds have, and from time to time will, enter into
side letters or similar separate agreements with one or more Private Fund investors that may alter
the terms and conditions set forth in the Private Fund’s Governing Documents. Such alteration of
terms and conditions include, without limitation, with respect to the Management Fees, Incentive
Fees, transfers to affiliates and other parties, expenses, notices and reporting, and disclosure.

The modifications may, among other things, be based on the size of the Private Fund investor’s
investment in the Private Fund or affiliated investment entity, an agreement by a Private Fund
investor to maintain such investment in the Private Fund for a significant period of time, or other
similar commitment by a Private Fund investor to the Private Fund. As a general matter, WTG
owes certain fiduciary duties to its Clients, which require that WTG act in good faith and in what
WTG considers to be in the best interests of the Private Funds. In doing so, WTG also will
endeavor to act in a manner that ensures the fair treatment of Private Fund investors.

Managed Accounts

WTG may also provide investment management services to Managed Accounts, which are
managed according to each account’s specific investment guidelines, restrictions and mandates.