American Ventures IM LLC

Item 5 – Fees and Compensation
The Series managed by American Ventures IM are generally charged a management fee and
performance fee. The amount and manner in which management fees are assessed by American
Ventures IM are based on contractually specified percentages set forth in the Advisory Agreements.

The management fee paid by members of each of the Series is a one-time, upfront fee paid to
American Ventures Management LLC (“American Ventures Management”), the manager of the
Fund and an affiliate of American Ventures IM, equal to two percent (2.00%) of a member’s initial
capital contribution to a Series, unless otherwise set forth in a Series Advisory Agreement.

        Additional Fees and Expenses

American Ventures IM’s fees are charged separately, net of any transaction fees, fund fees or other
series related costs and expenses (which are incurred by the Fund or Series, as the case may be, and
may include legal and accounting costs).

Members are charged an upfront expense fee of up to one and one-half percent (1.50%) of each
member’s capital contribution relating the actual out of pocket expenses associated with a particular
Series of interests (the “Series Expenses”). Upon the liquidation of any Series interests, any
additional Series Expenses which may have accrued shall be deducted out of proceeds from such
Series interests (and prior to any distribution of the proceeds to members of such Series). The Series
Expenses cover various expenses relating to the Series, including the Series of interests’ portion of
the reasonable costs, fees, and expenses incurred by or on behalf of the Fund in connection with

the operation of the Fund; including expenses relating to legal, tax, and accounting advice; expenses
incurred by the Fund in connection with the acquisition, holding, or disposition of an investment
relating to the Series of interests; preparation of reports and notices to members of the Series of
interests, and expenses incurred in winding down the Series of interests upon liquidation or
distribution of the assets associated with the Series of interests.

The Fund shall pay or reimburse American Ventures IM for all expenses incurred by the Fund in
the ordinary and usual course of business. Costs incurred by the Fund in accordance with its
operating agreement shall be allocated among the interests of the members on a pro rata basis in
accordance with their respective membership percentages.

American Ventures IM will pay for its own administrative and overhead expenses incurred in
connection with providing services to the Fund. These expenses include all expenses incurred by
American Ventures IM in providing for its normal operating overhead, including, but not limited
to, the cost of providing relevant support and administrative services (e.g., employee compensation
and benefits, rent, office equipment, insurance, utilities, telephone, secretarial and bookkeeping
services, etc.).

Item 7 – Types of Clients

American Ventures IM provides investment advisory services to pooled investment vehicles. The
suitability requirements for the Series are set forth in the Advisory Agreements of such vehicles.

Investors in the Series are required to meet certain suitability requirements, and thus an investor
must qualify as an “accredited investor” as defined in Rule 501(a) of Regulation D promulgated
under the Securities Act of 1933, as amended, and a “qualified client” as defined in Rule 205-3 of
the Advisers Act, as stated in the offering materials.

Investors in the Fund must meet a minimum initial investment requirement of fifty thousand dollars
($50,000). American Ventures Management may accept lower initial investments in its sole
discretion.