Fee Disclosure Statement

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Blacksmith Fund LP

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1. Introduction

This Fee Disclosure Statement provides a clear and transparent breakdown of the fees charged by Blacksmith Fund LP. The goal is to ensure all investors understand the costs associated with their investment.

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2. Fee Structure

A. One-Time Load Fee:

• 5% initial contribution fee (charged upon investment).

B. Performance-Based Fee:

• A performance fee applies based on fund returns.

• Performance fee structure: 20% of profits above a predetermined hurdle rate 6%

C. Maintenance fee:

• 1% of all assets under management except when paying the 5% load fee

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3. Fee Calculation Examples

• Example 1: If an investor contributes $100,000, the initial load fee is $5,000 (5%), and the net invested amount is $95,000.

• Example 2: If the fund achieves a 12% return in a given year, and the hurdle rate is 8%, the performance fee applies to the 4% excess return.

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4. Transparency & Reporting

• Investors will receive quarterly statements detailing all fees charged.

• Full disclosure of fund expenses will be provided in annual reports