Altimeter Capital Management LP

Item 5 – Fees and Compensation

Altimeter receives Management Fees (as defined below) and performance-based fees or
allocations from its Clients. A Client and/or its portfolio companies also from time to time make
other payments to Altimeter or its affiliates for services provided which, in certain circumstances,
may reduce Management Fees payable to Altimeter. Each Client’s Organizational Documents set
forth the fee structure relevant to such Client. Additionally, under such Organizational Documents,
Clients may bear certain out-of-pocket expenses incurred by Altimeter in connection with services
provided to the Clients and/or their portfolio companies. Further details about such fees and
expenses are set forth below and in such Organizational Documents.

Please see Item 6 below for additional information regarding “carried interest,” performance
allocation, and other performance-based compensation.

Management Fees

Management Fees – In General

As compensation for the investment advisory services rendered to its Clients, Altimeter receives
an advisory fee calculated based on a Client’s net assets, the cost basis or valuation of Private
Investments, or a percentage of committed capital or net invested capital, or as otherwise specified
in a Client’s Organizational Documents, as applicable (a “Management Fee”). Management Fees
are generally charged quarterly in advance or at such time as specified in the applicable Client’s
Organizational Documents. Subject to the terms of a Client’s Organizational Documents (and any
amendments thereto), Management Fees will continue to be payable during any term extensions.

Fee Payments and Waivers

The precise amount of, and the manner and calculation of, the Management Fee for each Client
are established by Altimeter and are set forth in each such Client’s Organizational Documents.
The Management Fees and performance-based fees described herein are generally not negotiable.
The Management Fee and other fees and distributions described herein are, however, generally
subject to modification, deferral, waiver or reduction by Altimeter in its sole discretion. A deferral
or waiver does not obligate Altimeter to defer or waive fees in the future. The fee structures
described herein may be modified from time to time.

Strategic Investors (as defined below), as well as certain employees, business associates, certain
large or strategic investors, and other “friends and family” of Altimeter or its personnel (“Adviser
Investors”) have in certain cases not paid, and may not pay, Management Fees or performance-
based fees in connection with their investment in a Fund. Even though Adviser Investors will
generally not pay Management Fees or performance-based fees, Adviser Investors will generally
pay for their pro rata share of certain Fund expenses or the pro rata portion of such Adviser
Investors’ expenses will be allocated to Altimeter or the General Partner (as defined below) of a
Fund. Specifically, Altimeter has consistently waived, and will continue to waive, both the
Management Fee and performance-based fees for its equity owner and employees. Please refer to
Item 11 for additional conflicts associated with Strategic Investors.

Management Fee Offsets

Subject to the terms of a Client’s Organizational Documents, a portion of the amount of any
directors’ fees or consulting fees, break-up fees or equivalent compensation (collectively, “Fees
Subject to Offset”), whether in cash or in kind, received by Altimeter, a managing member of the
General Partner (so long as he or she is a member thereof) or an employee of Altimeter (so long
as he or she is an employee thereof) from any portfolio company of a Fund (other than direct
reimbursement of out-of-pocket expenses) are subject to offset against and reduce the Management
Fee paid by such Client. To the extent a reduction relates to more than one Client, the Fees Subject
to Offset will be allocated among the applicable Clients in proportion to their interest in the
relevant portfolio company. Generally, the portion of Fees Subject to Offset allocable to capital

invested by the Hedge Fund or Co-Investment Funds will be retained by Altimeter and such
amounts will not offset any Management Fee. Altimeter may receive Fees Subject to Offset, which
fees may be substantial. In such cases, there may not be an independent third-party involved to
act on behalf of the relevant portfolio company. Therefore, a conflict of interest may exist in the
determination of any such fees and other related terms in the applicable agreement with the
portfolio company.

Fees Subject to Offset do not include fees received by any individual whose primary relationship
with a General Partner and Altimeter is as a mere “venture partner”, “entrepreneur-in-residence”,
“executive-in-residence”, consultant, contractor, or adviser (as those terms are generally
understood in the venture capital and private equity industries), even if such individual technically
qualifies as an “employee” of Altimeter or such General Partner under applicable law. In addition,
for certain of the Funds, the percentage of compensation that would otherwise be treated as Fees
Subject to Offset and fully reduced against the Management Fee may be reduced and offset at a
lesser rate in accordance with the Organizational Documents.

Altimeter is likely to maintain any amounts associated with Fees Subject to Offset in accounts that
bear interest before such amounts are offset. Any such interest would not be considered “Fees
Subject to Offset” and would not reduce the Management Fees or otherwise benefit Clients or their
investors.

Expenses

Altimeter Expenses

To the extent provided in each Fund’s Organizational Documents, Altimeter will pay certain of its
own operating expenses, including rent, utilities, office supplies, office equipment, salaries (other
than performance allocations as described in Item 6 below), and any expenses incurred for
...

Item 7 – Types of Clients

Altimeter currently provides investment advisory services to the Funds, each of which is exempt
from registration as an investment company under the 1940 Act, as well as to an SMA. Altimeter
provides investment advice directly to each Fund, subject to each corresponding General Partner’s
direction, and not individually to any Fund’s investors. Please refer to Item 4 – Advisory Services
for additional descriptions of Altimeter’s Clients.

As outlined in each Fund’s Organizational Documents, each Fund investor must satisfy certain
legal eligibility requirements, as well as any established minimum investment commitments. For
example, each Fund investor must be an “accredited investor,” as defined in Regulation D under
the Securities Act. Each Fund’s General Partner, in its sole discretion, may establish minimum
account requirements and has in the past, and expects in the future, to permit investments below
the required minimum investment commitments.