Arthur Ventures Management 2 LLC

Item 5 – Fees and Compensation

Arthur Ventures receives a management fee and its affiliated General Partners are allocated carried
interest as compensation for providing investment advisory services to the Funds. The Funds are also

responsible for bearing certain expenses as detailed below and in each Fund’s Governing Documents.
Differences in fees and expenses exist from Fund to Fund, and certain Funds do not charge certain
fees or expenses that other Funds charge or charge them in different amounts. The following is a
general description of fees and expenses of the Funds. Investors should refer to the Governing
Documents of the applicable Fund for a complete understanding of how Arthur Ventures is
compensated for its advisory services; the information contained herein is a summary only and is
qualified in its entirety by such documents.

Management Fees

Arthur Ventures charges each Fund a management fee (the “Management Fee”) based on a percentage
per annum of each non-affiliated investor’s commitments, which percentage differs by Fund.
Generally, Management Fees are initially charged up to 2.5% of each non-affiliated investor’s
committed capital for the period of time during which each Fund is actively investing prior to the
existence of a successor Fund; thereafter, the Management Fee percentage is reduced as per the
Governing Documents of each Fund. Management Fees are permitted to be paid during term
extensions unless otherwise notified to investors.

Assessed semi-annually in advance (and paid partially in advance and partially in arrears), the
Management Fee charged to each Fund is described in full detail in the relevant Fund’s Governing
Documents. All Management Fees were negotiated with investors during the fundraising period of
the applicable Fund and are not subject to negotiation thereafter.

The General Partners are permitted, in their sole discretion, to reduce or waive all or a portion of the
Management Fee. Management Fees differ from one Fund to another as well as among investors in
the same Fund. Some Funds do not charge a Management Fee and Management Fees are generally
waived for Arthur Ventures employees (including employees investing in a Fund through a General
Partner or an employee parallel Fund vehicle), affiliates and their respective families investing in a
Fund (although in each case, these investors generally pay their pro rata share of certain Fund
expenses).

Carried Interest

Each Fund’s General Partner is entitled to be allocated carried interest (“Carried Interest”) with
respect to the Funds, which is generally equal to 20% of certain realized profits net of all expenses.
Each Fund’s Carried Interest arrangement differs and is further described in full detail in the relevant
Fund’s Governing Documents and more briefly in Item 6, below.

Fund Expenses

Each Fund is governed by its own Governing Documents, which details a description of expenses for
such Fund. While differences exist among Funds, the following is a description of expenses generally
charged to each Fund. The Funds will pay all expenses of operating the Funds and its subsidiaries’

and intermediate entities’ including (but not limited to) all costs and expenses incurred in (i) the
diligencing, holding, purchase, sale or exchange of assets (whether or not ultimately consummated and
whether or not attributable to co-investment opportunities which were not ultimately consummated),
including, but not limited to, private placement fees, finder’s fees, interest on and fees and expenses
arising out of borrowed money real property or personal property taxes on investments, including
documentary, recording, stamp and transfer taxes, brokerage and investment banking fees or
commissions, or other similar charges (including any merger fees payable to third parties), (ii) travel
(and related expenses) (excluding private or chartered travel) incurred in investigating, purchasing,
managing or selling securities, (iii) legal fees and expenses, (iv) expenses incurred in connection with
the examination, investigation, prosecution or defense of any claims by or against a Fund, a General
Partner or Arthur Ventures, including claims by or against a governmental authority, (v) audit and
accounting fees, (vi) fees for outside appraisers and independent asset valuations services and software,
(vii) costs and expenses incurred for research services and publications, including software and legal
fees for investment-related research, (viii) consulting fees relating to investments or proposed
investments, (ix) travel and expenses for conference attendance relating to investments or proposed
investments, (x) both pre- and post-term sheet, costs and expenses incurred directly to support
portfolio company operations, including but not limited to, board meeting and company event travel
and expenses, software, talent acquisition support, professional services fees and expenses supporting
company initiatives, portfolio company community event expenses and travel (xi) taxes applicable to
the Funds on account of their operations, (xii) fees and expenses incurred in connection with the
maintenance of bank or custodian accounts, (xiii) investment-related expenses for investments that
are not consummated, whether undertaken prior to the initial closing date or otherwise and including
for a potential secondary transaction and (xiv) all expenses incurred in connection with the registration
of the securities held by the Funds under applicable securities laws or regulations. The Funds shall
also bear (a) expenses incurred by a General Partner in serving as the partnership representative (as
described in the limited partnership agreement), (b) any sales or other taxes or government charges
assessed against a Fund, (c) the cost of liability and other premiums for insurance protecting a Fund,
its General Partner, Arthur Ventures, an advisory committee and their respective partners, members,
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Item 7 – Types of Clients

Arthur Ventures provides investment advice to its Funds. The Funds limit their respective investors
to: (i) “accredited investors” as defined in the Securities Act of 1933 (“Securities Act”), and (ii)
“qualified purchasers” or “knowledgeable employees,” each as defined in the Investment Company
Act, or (iii) if applicable, “qualified clients,” as defined in the Advisers Act. Investors in the Funds
must also meet certain other suitability qualifications prior to making an investment in a Fund.
The Funds are not registered or required to be registered under the Investment Company Act, are not
made available to the general public, their securities are not registered or required to be registered
under the Securities Act and Fund interests are privately placed to qualified investors. Qualified
investors include individuals or entities to which Fund interests are permitted to be sold, which
generally includes (i) in the United States, people or organizations who meet certain net worth, income
and/or financial sophistication requirements as described above or (ii) in other countries, as permitted
by the relevant securities laws in such jurisdiction and in compliance with any foreign offering
provisions applicable to Arthur Ventures and/or the Funds. The Funds typically require capital
commitments from each investor of at least $250,000, depending on the Fund, although the applicable
Fund’s General Partner has, in its sole discretion, accepted lesser amounts.

The investors participating in the Funds include high net worth individuals, other investment entities,
university endowments, family offices, pension and profit-sharing plans, trusts, estates or charitable
organizations, fund of funds, corporations, limited partnerships, limited liability companies or other

business entities and typically include, directly or indirectly, principals or other employees of Arthur
Ventures and its affiliates and members of their families.