WFM Asia HK Limited

ITEM 5 – FEES AND COMPENSATION

The Adviser’s Basic Fee Schedule

The Adviser earns an advisory fee, calculated at operating cost plus an agreed mark-
up, from the investment manager of the Funds, WFMA(BVI), which receives
management fees in an amount up to one percent (1.0%) per annum of the net asset
value of the relevant Fund. Such management fees are accrued daily and calculated on
the basis of the net asset value of the relevant Fund as of certain valuation dates and
payable in arrears after month end as specified in the private placing memorandum of
the relevant Fund. No management fee is payable by the employee share class of the
respective Fund.

Specifically in relation to WFAR, the management fee of 1% was reduced to 0.50% for
the period from 1 October 2025 to 31 December 2025. Since 1 January 2026, the
management and performance fees have been waived on the remaining portion of the
main portfolio. Actual payment of the management fee with respect to special
investment shares is subject to several considerations, such as cash availability and
determined by the Investment Manager in its sole discretion. Management fees with
respect to certain special investments may be waived by the Investment Manager in
its sole discretion. Full details of the arrangement are mentioned in the private placing
memorandum of WFAR.

The Investment Manager has sole discretion in reducing or rebating any portion of its
fees to any shareholder of the relevant Fund based on commercial considerations,
including but not limited to, a large investment size.

The Investment Manager may also receive performance fees, as described in Item 6
below.

Fund details, including other expenses and details of the investment strategies, are
described in each Fund’s private placing memorandum.

Calculation and Deduction of Fees

The Investment Manager will be paid its management fee on a monthly basis in arrears
by the fund administrator of the Funds and may receive annual performance fees, all
as specified in each Fund’s private placing memorandum.

Other Fees and Expenses

In addition to management fees and performance-based fees if earned (as described
in Item 6 below), investors in the Funds will indirectly bear any other costs charged to
the Funds. Such costs will vary and typically include, though are not limited to,
accounting, legal, regulatory and compliance, insurance, fund administration, audit,
directors and other Fund-related fees. Furthermore, brokerage commissions,
transaction fees, and other related costs and expenses are incurred by the Funds. The
impact of mark-ups and mark-downs are also incurred by the Funds. The Funds may
incur certain charges imposed by custodians and brokers, transfer taxes, wire transfer
and electronic fund fees, and other fees and taxes on brokerage accounts and
securities transactions.

Such charges, fees and commissions are exclusive of and in addition to the
Investment Manager’s fee, and the Investment Manager and Adviser shall not receive
any portion of these commissions, fees and costs. Please refer to the audited financial
statements of the Funds for details.

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

Prepaid Fees

The Adviser does not charge fees in advance.

Compensation for the Sale of Securities

Neither the Adviser nor the Adviser’s supervised persons accept compensation for the
sale of securities or other investment products.

ITEM 7 – TYPES OF CLIENTS

The Adviser provides portfolio management services to the Funds as well as non-
discretionary investment advisory services to an institutional client. The Adviser does
not currently offer separately managed accounts. For purposes of this Brochure, the
terms “client” and “account” are synonymous with the Funds.