Alidade Capital LLC

Item 5 Fees and Compensation
Alidade Capital generally charges its Managed Funds a percentage-based management fee.
Management Fee
The Management Fee is generally payable in advance on the first day of each calendar quarter. Initially,
the Management Fee charged to each Managed Fund is derived based on the capital commitments of the
underlying limited partners of each Managed Fund, or in certain instances in the case of the largest limited
partner, partially on the amount of their invested capital. After the end of the commitment or investment
period the Management Fee is based on either the capital commitments or the invested capital, with the
specifics varying amongst the Managed Funds, both as to rate and as to any discounts based on total
commitment size, loyalty, or first close commitments, as examples.

The organizational documents for the Managed Funds describe the above-mentioned fees in greater
detail.

See Item 6 for information regarding the General Partner's incentive compensation (the "Carried
Interest").

Item 7 Types of Clients
The Firm provides advisory services exclusively to pooled investment vehicles sponsored by the Firm.
Investors in those vehicles are not clients of the Firm.

Future pooled investment vehicles may pursue either the Firm’s value-add strategy or its Net Lease
Strategy.