Argonne Capital Group LLC

ITEM 5 – FEES AND COMPENSATION

Each Portfolio Company will pay an annual management fee to Argonne or an affiliate of
Argonne. The management fees payable in respect of a Private Fund’s interest in each
Portfolio Company (based on a Private Fund’s equity ownership percentage of such

Portfolio Company) will be calculated based on the aggregate annual management fees
payable by each Portfolio Company. The portion of the management fees payable by the
Portfolio Companies to Argonne or an affiliate of Argonne attributable to interests held by
equity holders of each Portfolio Company other than the Private Funds will be calculated
as set forth in the governing documents of each Private Fund and may be subject to
adjustment, such that such portion may be higher or lower than the Management Fees
payable in respect of the Private Funds’ interest in each Portfolio Company over time. Any
such adjustments, however, will not affect the Management Fees payable in respect of the
Private Funds’ interest in each. Each General Partner of the Private Funds receives a
performance-based distribution (see Item 6 below for additional information on such
distribution).

The Private Funds will pay or otherwise bear all out-of-pocket payments, fees, costs,
expenses and other liabilities or obligations related to, associated with, arising from or
incurred in connection with the operation and activities of the Private Funds.

In addition, Portfolio Companies from time to time engage affiliates of Argonne to provide
services, including but not limited to services in connection with the following, in each
case subject to the terms of the applicable Private Fund governing documents: (i) sale-
leaseback transactions entered into with respect to fee simple properties acquired by the
Portfolio Companies,(ii) real estate leasing, (iii) property management and (iv)
development and construction management, in each case. This description of services
provided by Argonne affiliates is not intended to be exhaustive, and each Private Fund is
governed by its own governing documents.

The recipients of this Brochure should refer to the governing documents of the Private
Funds for specific information about expenses to be borne by the Private Funds. As noted
above, to the extent any of the statements herein conflict with a Private Fund’s offering
materials and governing documents, such materials and documents shall govern, and
investors in such Fund will be bound by the terms, conditions, risks, and other relevant
information contained therein.

Neither Argonne nor any of its supervised persons accept compensation for the sale of
securities or other investment products.

ITEM 7 – TYPES OF CLIENTS

Argonne provides discretionary investment advisory services to the Private Funds, each a
pooled investment vehicle, and not individually to the Investors in the Private Funds. The
Investors in the Private Funds are each “accredited investors” in reliance upon the
exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as
amended (the “Securities Act”), and Regulation D promulgated thereunder. In addition,
Investors in certain of the Private Funds are “qualified purchasers,” as such term is defined
in Section 2(a)(51) of the Investment Company Act of 1940, as amended, and the rules and
regulations promulgated thereunder. Argonne reserves the right to offer investment
advisory services to other client accounts or pooled investment vehicles in the future.