American Securities LLC

Item 5 – Fees and Compensation
Management Fees and Carried Interest:

As described in each ASP Fund’s confidential offering materials, American Securities receives a
management fee and, as described more thoroughly in Item 6, certain general partner entities affiliated
with American Securities receive performance-based fees (also known as “carried interest”). Annual
management fees typically equal a specified percentage of aggregate capital commitments during a
commitment period, and a lower percentage of invested capital after the commitment period for the
remaining life of the ASP Fund. Management fees are generally collected semi-annually, partially in
arrears but mostly in advance. The governing documents for the ASP Funds do not provide for any
refunds for management fees paid in advance. American Securities deducts management fees from the
account of each ASP Fund.

The management fee and carried interest distributions may be waived or reduced at the discretion of
American Securities or its affiliates. As described in each ASP Fund’s governing documents, the general
partner of each ASP Fund (each, a “General Partner” and collectively, the “General Partners”), which
is an affiliate of American Securities, may admit certain investors who receive terms that are more
favorable than those offered to other investors. More favorable terms offered to such investors may
include, among other things, reduced or eliminated carried interest, and/or management fees. Please
see Item 7 for more information regarding the vehicles through which these investors subscribe to the
ASP Funds.

Additional Fees and Expenses:

In addition to management fees and carried interest distributions, investors bear indirectly the expenses
charged to each ASP Fund. Those expenses vary, but typically include legal, auditing, consulting and
accounting expenses (including expenses associated with the preparation of partnership financial
statements, tax returns (including K-1s)), expenses for preparing and making regulatory filings
(including Form PF), expenses and costs of maintaining each ASP Fund’s books and preparing any
reports (including any expenses or costs associated with any software or online data portal used in
connection therewith), expenses of any limited partner advisory board and annual meetings of the
investors (at which some non-investors may be in attendance and whose expenses associated with
attendance at the annual meeting are paid by the Company) and meetings of one or more investors,
expenses and costs, including interest on and fees and expenses arising out of borrowings, guarantees
or other credit arrangements made by an ASP Fund, insurance and other expenses associated with the
identifying, evaluating, acquisition, holding, monitoring and disposition of its investments (including
underwriting commissions and discounts, research expenses, travel expenses, investment banking, legal,
consulting, and other professional fees), all third-party expenses in connection with transactions not
consummated (i.e., broken deal expenses) and extraordinary expenses (such as indemnification
expenses and advances and litigation expenses), as determined by the general partner of the applicable
ASP Fund in its discretion, subject to the terms of such Fund’s confidential offering memorandum and

limited partnership agreement. Expenses of the Advisory Board and the Executive Council may be
charged to the ASP Funds or, the Company may, instead, pay such expenses. The organizational
expenses of each ASP Fund (including legal, accounting, filing, capital raising, travel and
accommodation expenses, printing expenses and other similar costs) are generally paid by such ASP
Fund. Expenses, commissions, and fees of placement agents or finders are borne by American
Securities or its related entities, as further described in the governing documents of each respective ASP
Fund.

In some cases, expenses might be attributable to more than one ASP Fund, or to American Securities
or an affiliate thereof. In such cases, American Securities and its affiliates will apply an expense
allocation methodology that is believed to be fair to affected ASP Funds and consistent with the ASP
Funds’ confidential offering materials and limited partnership agreements. American Securities and its
affiliates may experience a conflict of interest when determining and applying an allocation
methodology.

American Securities utilizes the American Securities’ Resources Group to diligence potential Portfolio
Companies pre-closing and assist post-closing. The Resources Group is comprised primarily of
employees of American Securities, some of whom receive carried interest, that have expertise in areas
such as operations, information technology, strategy and growth, human capital, sourcing, purchasing,
data science, and pricing, including a Shanghai office with distinctive capabilities in Asia-Pacific growth,
competitive strategy and operations. ASP Funds, either directly or through Portfolio Companies,
reimburse American Securities for cash compensation and other expenses attributable to the Resources
Group’s work regarding current or prospective portfolio investments. In some instances, expenses
incurred in connection with services provided by American Securities for the benefit of a Portfolio
Company will be charged to that company. In other instances, such expenses will be charged directly
to the relevant ASP Fund(s) as permitted under the ASP Fund documents. In the latter scenario, where
American Securities is not the sole owner of a Portfolio Company, non-ASP Fund investors in that
company will indirectly benefit from those services without incurring any expense.

American Securities also utilizes its Human Capital team to help facilitate and manage searches for
executives or employees for Portfolio Companies. The Human Capital team executes its objectives
...

Item 7 – Types of Clients
The Company provides investment advice to private investment vehicles, which are structured as US
limited partnerships or limited liability companies, all of which are pooled investment vehicles that are
exempt from the requirement to register as an investment company under Section 3(c)(1) or 3(c)(7) of
the Investment Company Act of 1940.

In order to facilitate investment by foreign and certain other investors, the general partner of an ASP
Fund may create one or more parallel investment entities (“Parallel Investment Vehicles”). Such Parallel
Investment Vehicles will invest and divest side-by-side with the respective parallel partnership vehicle
at the same time and on the same general terms, will share in each portfolio investment pro rata in
proportion to their commitments and similarly will share any related investment expenses. Such
vehicles are generally structured with the intention of achieving an alignment of interests that American
Securities believes is in the best interest of the ASP Funds. American Securities’ Chief Compliance
Officer monitors any such investment structures for potential conflicts of interest. Material conflicts of
interest may be disclosed to the applicable ASP Fund’s limited partner advisory board or to all limited
partners depending on the nature and severity of the conflict. Employees, executives of Portfolio
Companies and other affiliated persons may invest in Parallel Investment Vehicles. For more
information on American Securities’ oversight of employee investments in Parallel Investment
Vehicles, please see Item 11.

Subject to the discretion of American Securities to accept less, the minimum investment threshold for
an investment in the ASP Funds (as set forth in the related offering materials) is $5 million for a natural
person and $10-15 million for an institution or other entity.