Ampersand Capital Group LP

Item 5.        Fees and Compensation

A. Fee Schedule

Ampersand delivers this brochure to prospective investors and clients that are qualified purchasers
as defined in section 2(a)(51)(A) of the Investment Company Act of 1940, as amended. Therefore,
information on how Ampersand is compensated for its advisory services and its fee schedule with
respect to its clients and Funds are not included here.

B. Payment of Fees

Ampersand deducts management fees and performance fees or allocations directly from client
accounts.

Relationships with a Fund are terminable on expiration of the Fund’s term, dissolution of the Fund
or on Ampersand’s termination as investment adviser of the Fund. Relationships with other clients
are terminable on the termination of the investment adviser agreement. Each investor may

withdraw capital from a Fund only on specified prior written notice and subject to significant
withdrawal limitations as specified in the applicable Fund’s governing documents. Investors should
refer to the Funds’ offering documents for specific information.

Except as may be otherwise negotiated in particular cases, the holder of an individually managed
account may terminate the account by giving 60 days prior written notice.

In all cases, expenses, the pro rata portion of the management fee and the performance fee or
allocation through the date of the investor’s withdrawal or termination of the client account are
charged to the investor or client. All prepaid but unearned advisory fees are refunded on termination
of a client’s account. An investor who withdraws from a Fund on a date other than the last day of a
quarter, however, does not receive a refund of the management fee previously paid.

Ampersand believes that its fees are competitive with fees charged by other investment advisers
for comparable services. Comparable services may be available, however, from other sources
for lower fees.

C. Third-Party Fees

Each client is responsible for its own costs and expenses, including trading costs and expenses (such
as brokerage commissions, expenses related to short sales, and clearing and settlement charges),
ongoing legal, accounting and bookkeeping fees and expenses, and the fees and expenses charged
by any Fund administrator for its accounting, bookkeeping and other services. Investors should refer
to the Funds’ offering documents for specific information. In addition, certain of Ampersand’s own
costs and expenses may be paid by securities brokerage firms that execute clients’ securities
trades, as discussed in Item 12 below.

Accounts that invest in mutual funds also pay, indirectly, investment advisory fees to the managers
of those funds.

Item 7.        Types of Clients

Ampersand provides investment advice to the Funds and may provide advice to other clients in the
future. Investors in the Funds are required to invest a minimum of $5 million, but Ampersand may
waive this minimum. Ampersand generally requires a minimum of $100 million to establish an
individually managed account, but may waive this minimum. Ampersand’s clients are expected to
include sovereign wealth funds, endowments, pension plans and other institutional investors.