ACM Advisors LLC

Item 5.        Fees and Compensation

Management Fees

Management fees vary amongst the Funds and are structured based on the investment strategy and
operations of the individual Funds. Investors should consult the relevant Offering Documents and
agreements for the specific management fee charged to the Fund in which they are invested or are
interested in investing.

Generally, FEP and/or the respective general partner entity will receive a management fee from the
Funds that is typically a percentage of the commitments to the Fund and is tiered based on the life
stage of the Fund. Management fees are paid quarterly in advance.

Fee Offset

If a general partner of a Fund, or any FEP related persons receive transaction, commitment, break-up,
advisory, syndication, directors, officers, management, or any similar fees paid by a portfolio company
held by a Fund, those amounts will be used to offset future management fees payable by the relevant
Fund.

Expenses

In addition to the fees charged by FEP, investors will bear indirectly other fees and expenses incurred
by the Funds including, but not limited to, the following: brokerage and other transaction costs, legal
fees; accounting fees; audit fees; custodian fees; costs of insurance; organizational and registration
expenses; fund administration fees; and certain offering costs For more information on brokerage
transactions and costs, please see Item 12 Brokerage Practices. Investors should review all fees
charged by FEP and the expenses charged to the Funds to fully understand the total amount of fees to
be paid. In general, the Funds will pay for the following: (i) organization and syndication costs (subject
to limits in each Funds respective Offering Documents); (ii) legal, accounting, audit, custodial,
consulting and other professional fees; (iii) banking, brokerage, broken-deal, registration,
qualification, finders, depositary and similar fees or commissions; (iv) transfer, capital and other taxes,
duties and costs incurred in acquiring, holding, selling or otherwise disposing of Fund assets;
(v) insurance premiums, indemnifications, costs of litigation and other extraordinary expenses; (vi)
costs of financial statements and other reports to investors; (vii) costs of meetings of the investors
(viii) costs of Fund, general partner, and management company compliance with applicable securities
laws and registration or licensing laws arising from the management of, or provision of advice to, the
Fund and (ix) costs and expenses associated with preparing Fund tax returns, making tax elections and
determinations, and similar activities.

Item 7.        Types of Clients
FEP provides investment advice on a discretionary basis to privately-offered, pooled investment
vehicles; the Funds. As the investment manager of the Funds, FEP has overall responsibility to manage
and control the business affairs of the Funds, including the exclusive authority to oversee and to
establish policies regarding the management, conduct and operation of the business of the Funds. FEP
manages the Funds in accordance with the terms of the Offering Documents of applicable to the Funds.

Investments in FEP’s Funds are available solely to “Accredited Investors,” as that term is defined in
the Securities Act of 1933, as amended, at a minimum and higher qualifications may be required.
Investors who wish to subscribe to any FEP managed Fund will be required to demonstrate their
investment qualifications prior to accessing any information regarding FEP’s Funds.

Investors into the Funds are not able to redeem their investment prior to the end of the life of the Fund
without the approval of the Fund’s general partner. The general partner will generally not permit early
withdrawal unless, in its view, the withdrawal of the investor will not result in any harm or
disadvantageous situation for other investors or the Fund. Investors do not have the ability to restrict
the investment activities of the Fund beyond those granted in the relevant Fund’s governing
documents.