Advaita Capital LLC

Item 5: Fees and Compensation

Item 5.A. Compensation for Advisory Services

In consideration of our services, we generally receive management fees and we and/or certain of our
affiliates are entitled to receive carried interest distributions, with respect to the Funds. While such fees and
carried interest distributions are described in detail in the applicable Fund Governing Documents or
investment management agreements, a general summary of our basic fee schedule is set forth below. We
have the sole discretion to waive, reduce or alter the fee structure, and therefore, Investors’ fee structures
vary. In addition, we occasionally enter into side letter arrangements with certain Investors which provide
for different or additional terms than those described below

Management Fees

With respect to each Fund, we generally are entitled to receive an annual management fee, payable
in advance either annually or for the entire Fund term, in amounts calculated as a percentage of
committed capital, depending on the Fund and as outlined in Fund Governing Documents.

Carried Interest Distributions

Carried interest charged to a Fund is generally calculated and paid as a percentage, of the net
distributions to the Client or Investors in excess of their invested capital. Any performance-based
compensation is paid in accordance with Section 205(3) of the Advisers Act and the rules promulgated
thereunder, which specify certain qualification thresholds for Clients being assessed such a fee.

Investor Servicing Fees

As described in the applicable Fund Governing Documents, Limited Partners in certain Funds are also
charged a one time “Investor Servicing Fee” as a percentage of their subscription amount, to the extent the
Firm or its affiliates are required to pay any fees or expenses to any registered investment adviser, placement
agent or broker-dealer in connection with any Limited Partner’s admission to such Partnership

Late Admission Fees

In the event that an Investor subscribes to a Fund after a Portfolio Company investment has been made, the
Investor will be charged a fee, calculated as described in Fund Governing Documents.

Item 5.B. Other Fees & Expenses

In addition to any Management Fees and performance-based compensation paid to the Firm, each Fund is
responsible for its own organizational, investment, and operating expenses (“Fund Expenses”). These
Fund Expenses may be paid directly by the Fund or may be reimbursed to the Firm or its affiliates for
expenses incurred on the Fund’s behalf.

Fund Expenses are described more fully in each Fund’s Governing Documents, but generally include,
without limitation:
    •   Costs related to sourcing, evaluating, structuring, negotiating, financing, acquiring, monitoring, and
        disposing of portfolio investments, including costs associated with unconsummated investments
        (i.e., broken deal expenses);
    •   Legal, accounting, tax, audit, consulting, administration, and other professional fees and expenses;

    •   Expenses related to fund governance, compliance, reporting, regulatory filings, and tax return
        preparation;
    •   Organizational and offering costs (subject to an established cap or threshold for certain Funds);
    •   Fees for fund-related software and data subscriptions;
    •   Travel and related expenses incurred in connection with fund activities;
    •   Costs related to Investor communications, Limited Partner advisory committee (“LPAC”)
        meetings (where applicable), and administering side letters;
    •   Interest and fees on credit facilities or other fund-level financing arrangements;
    •   Insurance premiums and indemnification expenses;
    •   Expenses associated with valuations, third-party service providers, and other operational needs;
    •   Other reasonable and non-recurring expenses incurred in connection with the Fund’s operations.

This list is not intended to be exhaustive. Prospective and existing Investors are advised to carefully review
the applicable Fund’s Governing Documents for a complete description of Fund Expenses.

Fund Expenses are typically allocated among all Limited Partners on a pro rata basis unless otherwise
specified in applicable Fund Governing Documents or otherwise determined by the Firm to be appropriate.
Expenses shared between multiple Funds are allocated among such parties as specified in applicable Fund
Governing Documents or as otherwise determined in good faith by the Firm. Shared expenses may be
allocated based on various reasonable methods, including effort expended, benefit received, total
commitments, assets under management, or other appropriate factors. Such methods may vary across
expense types and over time.

The Firm provides information about the nature and amount of such expenses in each Fund’s financial
statements.

Item 5.D. Payment In Advance

In the event that a Fund is dissolved, or our advisory services are terminated prior to the end of any calendar
quarter, then a proportionate amount of any fees charged in advance will be refunded to the applicable
Investor(s) or Clients.

Item 5.E. Compensation for Sale of Securities

None of Advaita or any of its supervised persons accept compensation for the sale of securities or other
investment products.

Item 7: Types of Clients

Advaita provides investment advisory and management services to its affiliated Funds. The Funds have a
minimum investment amount, which is set forth in each Fund’s Governing Documents and may vary at the
discretion of management. The Firm also retains the right to waive the stated minimum investment amount.

Advaita’s Clients rely on certain exclusions and exceptions from the definition of “investment company”
in the Investment Company Act of 1940 (the “Investment Company Act”). Accordingly, none of
Advaita’s Clients are registered as investment companies with the SEC.

Investors in the Funds generally include high-net-worth individuals, family offices, and institutional
Investors such as foundations, endowments, and state retirement systems. These Investors qualify as
“accredited investors,” “qualified clients,” and, where required by the applicable exemption, “qualified
purchasers” under the Securities Act of 1933, as amended (the “Securities Act”), the Advisers Act, and
the Investment Company Act, respectively.