1876 Partners LP

Item 5. Fees and Compensation
General

In general, 1876 Partners and its affiliates typically receive management fees, carried interest
distributions and expense reimbursements, in connection with advisory services it provides to the
Funds, all in accordance with each Fund’s Governing Documents. Investors should review the
relevant Governing Documents to fully understand the total amount of fees to be paid by a Fund
and, indirectly, by its Investors. See “Performance-Based Fees and Side-by-Side Management”
below for a further discussion of fees and the potential conflicts of interest they can create.

Management Fees

As described in the applicable Fund’s Governing Documents, each Fund will pay to 1876
Partners a management fee (the “Management Fee”). The Management Fee is expected to be
based on a percentage of capital commitments (during each Fund’s investment period) and on a
percentage of the aggregate capital contributions to such Fund used to make investments that
have not been sold or determined by the general partner in its reasonable discretion to be
permanently and completely written off in full (following the expiration of each Fund’s
investment period). Management Fees are generally payable quarterly in advance. Management
Fees may be reduced by a percentage of the amount of certain other fees received by 1876
Partners in accordance with each Fund’s applicable Governing Documents. 1876 Partners and
its affiliates are not subject to the Management Fee. In addition, in accordance with the
Governing Documents of certain Funds, 1876 Partners has the right, at its sole and absolute
discretion, to waive all or any portion of the Management Fees payable with respect to any
Investor. In addition, under the terms of certain Funds’ Governing Documents, 1876 Partners
has the right, in its sole and absolute discretion, to defer the Management Fee payable in any
period and recoup the deferred portion in any subsequent period.

Carried Interest

Under the terms of certain Funds’ Governing Documents, the general partner (or its affiliate) of
each such Fund will generally be entitled to receive “carried interest distributions” from the
applicable Fund equal to a share of the profits distributed by the applicable Fund to its Investors,
after the recovery of realized capital and costs and payment of a specified return thereon.
Additional information regarding these carried interest distributions is provided under
“Performance-Based Fees and Side-by-Side Management” below.

Transaction, Break-Up and Other Fees

Under the terms of certain Funds’ Governing Documents, 1876 Partners and its affiliates may be
entitled to collect from or with respect to a Fund’s investments certain transaction fees, break-up
fees, advisory fees, directors’ fees, monitoring fees and other similar fees in connection with
actual and proposed investments; provided that the Management Fee payable by such Fund will
generally be reduced by a percentage of any such fees as set forth in the Governing Documents.

                                       1876 PARTNERS, LP
                                   Form ADV, Part 2A Brochure

If any such fees required to be credited against the Management Fees for a particular Fund for
any period exceed the Management Fees payable by such Fund for such period, the amount of
such excess will generally be carried forward and credited against the Management Fees payable
by such Fund for subsequent periods.

Overhead Expenses

1876 Partners will generally pay all of its own ordinary overhead expenses in connection with its
day-to-day operations, including compensation and benefits for its employees and expenses for
office space as well as its own regulatory compliance costs

Other Fund Expenses

Each Fund will generally pay, or will generally reimburse 1876 Partners for, other expenses of
such Fund, as set forth in the applicable Governing Documents. Such expenses generally include,
without limitation: (a) activities with respect to the structuring, organizing, negotiating,
consummating, financing, refinancing, acquiring, bidding on, owning, managing, monitoring,
operating, holding, hedging, restructuring, trading, taking public or private, selling, valuing,
winding up, liquidating, or otherwise disposing of, as applicable, the Fund’s portfolio companies
and its actual and potential investments (including follow-on investments) or seeking to do any
of the foregoing (including any associated legal, financing, commitment, transaction or other
fees and expenses payable to attorneys, accountants, investment bankers, lenders, third-party
diligence service providers, consultants and similar professionals in connection therewith and
any fees and expenses related to transactions that may have been offered to co-investors); (b) all
fees, costs, expenses, liabilities and obligations relating to investment and disposition
opportunities for each Fund not consummated (including, without limitation, legal, accounting,
auditing, insurance, consulting (including consulting and retainer fees paid to any consultants
performing investment initiatives and other similar consultants), brokerage, finders’, financing,
appraisal, filing, printing, real estate title, survey, reverse breakup, termination, entity formation
and other fees and expenses relating to such investment and disposition opportunities
(collectively, “Broken Deal Expenses”) (including Broken Deal Expenses relating to transactions
that have been syndicated or offered to but not taken by co-investors, or for which a syndication
or co-investment was believed necessary in order to consummate such transaction, or would have
been beneficial in the judgment of 1876 Partners)); (c) indebtedness of, or guarantees made by,
such Fund, 1876 Partners or their respective affiliates on behalf of such Fund (including any
credit facility, letter of credit or similar credit support), including interest with respect thereto, or
...

Item 7. Types of Clients
1876 Partners provides management and discretionary investment advisory services directly to
the Funds, subject to the direction and control of the general partner of each Fund. In each case,
1876 Partners does not provide advisory services individually to the Investors. Investors in the
Funds may include, but are not limited to, governmental or corporate pension funds, university
or similar endowments, funds of funds, other institutional investors, high net worth individuals
and foundations.

The Funds may impose a minimum initial investment requirement, which varies from Fund to
Fund. However, 1876 Partners may waive any such requirement at its sole discretion to the
extent permitted by applicable law. In addition, subject to applicable law, the Funds may enter
into separate agreements, commonly referred to as “side letters,” with certain Investors, to
provide such Investors with additional or different terms than those specifically described in the
Governing Documents. These side letters primarily relate to laws, policies and procedures
applicable only to specific Investors and not all Investors. However, to the extent permitted by
applicable law, under certain circumstances, these side letters could create alternative fee
arrangements or preferences or priorities for such Investors with respect to other Investors.

Investors are typically required to meet certain suitability qualifications as described in the
applicable Fund’s Governing Documents, such as being an “accredited investor” within the
meaning set forth in Rule 501(a) of Regulation D under the Securities Act. Also, Investors will
be required to make certain representations when investing in a Fund, including, but not limited
to, that (i) they are acquiring an interest for their own account, (ii) they received or had access to
all information they deem relevant to evaluate the merits and risks of the prospective investment
and that (iii) they have the ability to bear the economic risk of an investment in such Fund.
Details concerning applicable Investor suitability criteria are set forth in the respective Fund’s
Governing Documents and subscription materials, which are furnished to each prospective
Investor.

                                     1876 PARTNERS, LP
                                 Form ADV, Part 2A Brochure