Alchemy Investment Management

Not included above

• • In addition to the Management Fee, investors in the Funds are typically subject to an initial subscription fee (“Subscription Fee”), payable at the time of investment to Alchemy. The Subscription Fee typically ranges between 1.5% and 3.0% of the amount of the initial subscription, thus reducing the amount actually invested by an investor. Additionally, an Exit Load of up to 3% may be applicable on redemptions, depending on the investor’s Subscription Date and the holding period. For investments made before May 15, 2025, an Exit Load applies if redeemed within 12 months. For investments made on or after May 15, 2025, the Exit Load applies if redeemed within 36 months. In addition to the Management Fee, Subscription Fee and Incentive Fee, each Fund bears its own organization and initial offering expenses, including, but not limited to, legal and accounting fees, printing and mailing expenses and government filing fees, and other expenses of a capital nature. In addition, the Funds typically pay or reimburse the Firm or its affiliates for (i) all expenses incurred in connection with the offering, including, but not limited to, travel, legal/compliance, and printing of any applicable Governing Documents
• • (ii) all operating expenses of the Funds such as tax preparation fees, governmental fees and taxes, compliance costs, Fund administrator fees, director fees and expenses, costs of communications with shareholders and investor relations, and ongoing legal, accounting, auditing, bookkeeping, consulting and other professional fees and expenses
• • (iii) all Fund research, trading and investment related costs and expenses (e.g., research reports, due diligence on portfolio companies, brokerage commissions, margin interest, expenses related to short sales, custodial fees and clearing and settlement charges), including the costs of calculating and complying with any applicable debt limits to invest in listed securities in India
• • and (iv) all fees and other expenses incurred in connection with the investigation, prosecution or defense of any claims, assertion of rights or pursuit of remedies, by or against the Funds, including, without limitation, professional and other advisory and consulting expenses and travel expenses, and whether or not pursuant to bankruptcy or other legal proceedings, or participation in informal committees of creditors or other security holders of an issuer. Expenses charged on the managed accounts would be negotiated separately at the time of executing the Governing Documents.