Assurant Investment Management LLC

Item 5 - Fees and Compensation

Management Fees

RE Funds.
As the investment adviser to the RE Funds, AIM is paid a management fee calculated as a
percentage of committed or invested capital at various times during the life or term of the RE
Fund, as set forward in the applicable governing documents for the RE Fund.

CLOs.
As compensation for its services as the collateral manager of the CLOs, ACM is entitled to
be paid management fees (other than the Incentive Collateral Management Fee which is not
to be payable unless and until the CLO’s performance exceeds its designated hurdle rate,
described in more detail below in Item 6). The management fee will be generally calculated
as a percentage of the aggregate amount of the assets under management for each CLO.
Generally, ACM’s CLO collateral management fees (exclusive of the incentive fee) are
expected to have two components: a senior management fee and a subordinated
management fee (the “Collateral Management Fees”). The Collateral Management Fees will
typically be paid quarterly in arrears in accordance with the priority of payment waterfall set
forth in the indenture of each CLO. Management fees may be different from CLO to CLO.

A full description of the calculation and terms of the management fees are provided in the
relevant AIM Fund’s governing and offering documents. Under certain circumstances, AIM
may waive or modify management fees for any investor in any of the AIM Funds.

AIM or an affiliate may also receive performance-based fees and/or carried interest from the
AIM Funds. Please see Item 6 of this Brochure for more information on performance-based
fees and/or carried interest expected to be received by AIM or its affiliate(s).

Other Expenses

Although the AIM Funds generally bear their pro rata share of costs and expenses collectively
incurred on their behalf, Assurant and/or AIM may, from time to time, bear some or all of the
ordinary day-to-day expenses incidental to the operations of the AIM Funds.

RE Funds.
Each RE Fund is generally responsible for the operating costs and expenses incurred solely
by such RE Fund, including, but not limited to:

   -   fees, costs and expenses incurred solely by the RE Fund in connection with the annual
       audit, partnership tax preparation and filings; and
   -   any legal and regulatory fees incurred directly by the RE Fund.

Each RE Fund will bear ongoing and operating expenses related to consummated
investments, which may include:
   -   the cost of legal fees related to the negotiation or structuring of the transaction;
   -   any capitalized transaction costs; and
   -   maintenance costs of any special purpose vehicle(s) used in the transaction, provided,
       however, that to the extent the Assurant affiliates invest alongside the Fund in a
       consummated investment, they, along with the Fund, will share on a pro rata basis the
       expenses set forth in this paragraph with respect to such consummated investment.

There are additional fees and expenses that are borne by AIM for the AIM Real Estate Co-
Investment Fund, LP, these fees and expenses include:

Assurant Investment Management LLC                                    Form ADV Part 2A

Expenses borne by Assurant and/or AIM on behalf of the AIM Real Estate Co-Investment
Fund:

    -   the fund administration fees charged to the RE Fund;
    -   the costs incurred in sourcing ultimately unconsummated investments, including legal
        fees; and
    -   the cost of liability insurance for director(s) and officer(s).

    -   Offering and organizational expenses:
            o legal fees and costs directly associated with the organization and offering of
            o the RE Fund; legal fees incurred in connection with providing advice
                regarding the structure of the RE Fund, forming the relevant entities,
                preparing the RE Fund documents; and
            o legal fees in connection with the in-kind contribution of the Assurant affiliates
                and the subscription process for investors.

A full description of the expenses borne by each RE Fund is provided in its governing and
offering documents. Some expenses borne by AIM for the AIM Real Estate Co-Investment
Fund, LP, may be charged to the RE Funds sponsored and/or managed by AIM in the future.

CLOs.
Each CLO is generally responsible for certain other fees and expenses incurred solely in
relation to its ongoing operations, including:

-   CLO taxes, duties and governmental charges
-   trustee fees and expenses related solely to the CLO
-   collateral administration fees and expenses related solely to the CLO
-   collateral manager fees and expenses related solely to the CLO
-   fees and expenses of independent accountants related solely to the CLO
-   agents and counsel fees related solely to the CLO
-   fees and expenses of rating agencies in connection with the rating of the notes issued by
    the CLO and any rating of collateral obligations held by the CLO
-   brokerage fees
-   all litigation-related and indemnification expenses incurred by the CLO; and
-   other expenses related solely to the CLO.

AIM allocates any such fees and expenses among the CLOs, as appropriate and in a manner
AIM determines to be equitable. AIM will be reimbursed for such fees and expenses for which
each CLO is responsible to the extent funds are available in accordance with and subject to
the priority of payments and the other limitations that may be contained in each CLO’s
indenture.

For a more detailed discussion of brokerage and transaction costs, investors are directed to

Item 7 - Types of Clients

AIM provides investment advice directly to the AIM Funds. Each AIM Fund’s respective
governing and offering documents set forth the eligibility criteria and minimum investment
requirements, which may be waived or modified at the discretion of the AIM Fund’s general
partner or AIM, as applicable, pursuant to such AIM Fund’s governing documents.

Generally, interests in the RE Funds may only be acquired by certain investors that meet the
criteria of “accredited investors,” as defined in Regulation D under the Securities Act of 1933,
as amended (the “Securities Act”), and a “qualified client,” as defined in Rule 205-3(d)(1)
under the Advisers Act.

Generally, interests in the CLOs may only be acquired by certain investors that meet the
criteria of “qualified institutional buyer” as defined in Rule 144A under the Securities Act or,
in certain cases, “accredited investor,” as defined in Regulation D of the Securities Act and
that are, in each such case, a “qualified purchaser,” as defined in Section 2(a)(51) of the
Investment Company Act.

Assurant Investment Management LLC                                  Form ADV Part 2A