Altamont Capital Management LP

Item 5.     Fees and Compensation

The Adviser or its affiliates generally receive Advisory Fees and Carried Interest (as defined
below) or similar performance-based remuneration from a Fund. A Fund, and/or its portfolio
companies also typically reimburse the Adviser and its affiliates for certain expenses and/or make
other payments to the Adviser or its affiliates for services provided to the Fund and/or its portfolio
companies which, in certain circumstances as set forth in the applicable Governing Documents of
the applicable Fund, reduce the Advisory Fees payable to the Adviser. Additionally, consistent
with the Governing Documents of the applicable Fund, such Fund typically bears, directly or
indirectly, certain out-of-pocket expenses incurred by the Adviser in connection with the services
provided to such Fund and/or the portfolio companies. Details about such fees and expenses are
contained in the Governing Documents of the applicable Fund. Further details about certain
common fees and expenses are set forth below.

Advisory Fees

As compensation for investment supervisory services rendered to certain Funds, the Adviser
receives from each such Fund an advisory fee (each, an “Advisory Fee”), typically calculated based
on committed capital or invested capital with respect to such Fund. Advisory Fees paid by a Fund
may be reduced by certain other fees or compensation received by the Adviser or its affiliates that
relate to such Fund’s activities and investments, or by certain excess organizational or other
expenses borne by such Fund, as described in more detail below. Advisory Fees paid by a Fund
are indirectly borne by investors in such Fund.

Advisory Fees are payable by the Funds to the Adviser for the period January 1 through June 30
of each calendar year on January 5 of each calendar year and for the period from July 1 through
December 31 on July 5 of each calendar year, in each case, based on a calculation as of the start
of such semi-annual period.

In circumstances when the Advisory Fee of a Fund is based on invested capital, the Advisory Fee
is calculated based on the terms of the Governing Documents of the Funds, which is typically
based on the aggregate amount of the investment by the applicable Fund in portfolio investments,
reduced by, among other things, (i) the cost basis for portfolio investments that have been written
off for U.S. federal income tax purposes, (ii) with respect to realized portfolio investments, the
amount of realized losses for U.S. federal income tax purposes (the amounts described in clauses
(i) and (ii), collectively “Impairments”), and (iii) with respect to realized portfolio investments,
the cost basis of any securities distributed in kind and amounts distributed to limited partners of
the Fund that are a return of capital, in each case, to the extent required under the applicable
Governing Documents. The Governing Documents do not require any reduction or refund of
Advisory Fees in connection with a decrease in value (whether temporary or permanent), except
to the extent of an Impairment. The Governing Documents do not require any reduction or refund
of Advisory Fees for any capital recovered by limited partners following a recapitalization,

refinancing or restructuring (each, a “Recap Distribution”). In the case of a partial disposition of
shares of a portfolio investment, the Adviser will generally reduce the fee base by the portion of
the cost basis of such portfolio investment distributed to the limited partners (and not any portion
of the basis so retained) in accordance with the terms of the Governing Documents, and where a
portfolio investment sells a portion of its assets, the Adviser will generally reduce the fee base by
the portion of the cost basis (if any) that is returned to limited partners, and no such reduction is
required except to the extent of such cost basis returned to investors or until the portfolio
investment is fully disposed and income or loss realized for U.S. federal income tax purposes. As
a result, the Advisory Fees generally will not track changes in the fair value of any individual
investment or of a Fund. The Governing Documents generally do not provide for the
reimbursement or refund of Advisory Fees in the event of Impairments or complete dispositions
occurring mid-calculation period or if the methodology for calculating Advisory Fees changes
during the term (e.g., because of the occurrence of a stepdown in the Advisory Fee), but do provide
for adjustments in the subsequent period for additional equity invested during the calculation
period.

Certain fees and expenses allocated to a portfolio company at the time of investment, including
but not limited to transaction fees, prepaid monitoring fees and other permitted transaction
expenses, are capitalized into the transaction. To the extent that the Adviser allocates Dead Deal
Costs (as defined below) to the next deal completed by a Fund (as further described below in
“Allocation of Expenses”), such Dead Deal Costs are also capitalized into the transaction.
Accordingly, to the extent that Advisory Fees are calculated based on invested capital and to the
extent that any such capitalized fees and expenses increase equity invested by the Fund, it will
increase the amount of Advisory Fees paid to the Adviser. See “Fee Structure” in Item 11 below.

The precise amount of, and the manner and calculation of, the Advisory Fees for each Fund are
established by the Adviser, as modified by negotiations with investors in the applicable Fund, and
are set forth in such Fund’s Governing Documents. The Advisory Fees and other fees and
distributions described herein are generally subject to modification, waiver or reduction by the
Adviser in its sole discretion, both voluntarily and on a negotiated basis with selected investors via
side letter and other arrangements, which may not be disclosed to other investors in the same Fund.
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Item 7.     Types of Clients

The Adviser currently provides investment supervisory services to the Funds. Investment advice
is provided directly to the Funds and not individually to investors in such Fund.

Interests in the Funds are offered pursuant to applicable exemptions from registration under the
Securities Act and the 1940 Act. Investors in most of the Funds are “qualified purchasers” or
“knowledgeable employees”, in each case, as defined in the 1940 Act, and may include, among
others, high net worth individuals, banks, thrift institutions, pension and profit-sharing plans,
trusts, estates, charitable organizations, university endowments, corporations, limited partnerships
and limited liability companies or other entities.

The Adviser does not have a minimum size for a Fund, but minimum investment commitments
may be established for investors in the Funds. The Adviser may in its sole discretion permit
investments below the minimum amounts set forth in the Governing Documents of such Fund.