Andra Capital LLC

Item 5. Fees and Compensation

All investors and prospective investors should review the Governing Documents of the Fund in
conjunction with this Brochure for complete information on the fees and other compensation
payable in connection with an investment in the Fund. In limited circumstances, the advisory fees
payable to Andra by certain investors in the Fund may be negotiable and/or waived. Investors and
prospective investors in the Fund should note that similar advisory services may (or may not) be
available from other investment advisers for similar or lower fees.

Item 6. Performance-Based and Side-By-Side Management

The existence of performance-based compensation has the potential to create an incentive for
Andra to make riskier or more speculative investments on behalf of a Fund than it would otherwise
make in the absence of such arrangement. Andra generally attempts to mitigate conflicts of interest
associated with carried interest distributions through (i) the requirement that contributed capital be
returned to investors before the General Partner is entitled to receive any carried interest
distributions, and (ii) the requirement that Andra or its affiliates have a capital commitment to the
Fund.

Please refer to the Governing Documents of the Fund for complete information on the specific
“performance-based fee” arrangements of the Fund.

Item 7. Types of Clients

Andra provides investment advice to the Fund. Investors participating in the Fund may include
individuals, banks or thrift institutions, other investment entities, university endowments,
sovereign wealth funds, family offices, pension and profit-sharing plans, trusts, estates, charitable
organizations, other corporations or business entities, and may include, directly or indirectly, the
Managing Partners, other investment professionals or other employees of Andra.