Auldbrass Partners LP

Item 5 Fees and Compensation
As compensation for investment advisory services rendered to the Funds, Auldbrass receives from the
Funds, certain fees, incentive allocations, and other compensation, which are set forth in the LPA. The
specific manner in which fees are charged to the Funds is established in the LPA for each Fund. The
management fees are charged on a quarterly basis, payable in advance of each calendar quarter and
paid directly out of each Fund’s assets or paid directly from the Investor.

As more fully described in the Governing Documents, each Fund will bear all expenses in connection
with its investment activities and operations, including, but not limited to: (i) legal, accounting, audit,
custodial, compliance, consulting and other professional fees relating to services rendered to the Fund
that could not reasonably have been rendered by the General Partner; (ii) banking, brokerage, broker-
dealer, registration, qualification, finders, depositary or similar fees or commissions; (iii) transfer,
capital and other taxes, duties and costs incurred in acquiring, holding, selling or otherwise disposing
of Fund assets; (iv) insurance premiums, including officers’ and directors’ insurance, (v) costs of

financial statements and other reports to shareholders as well as costs of all governmental returns,
reports and other filings; (vi) costs of meetings of the partners; (vii) interest expenses; and (viii) legal
fees and expenses, judgments, fines, damages or costs paid or incurred in prosecuting or defending
administrative or legal proceedings brought by or against the Fund or, with respect to its activities on
behalf of the Fund, the General Partner or Investment Manager (or paid in any settlement thereof).
Certain fees received from portfolio companies or transaction counterparties are offset against
management fees where required under fund documents. The additional expenses for which each
Fund is responsible are set forth in the applicable LPA.

Item 7 Types of Clients
We provide investment advisory services solely to private pooled investment funds. Investment advice
is provided directly to the Funds, subject to the direction and control of the General Partner of each
Fund, and not individually to the investors in each Fund. Interests in the Funds are offered pursuant to
applicable exemptions from registration under the Securities Act and the 1940 Act. Investors in the
Funds include banks, pension and profit-sharing plans, trusts, limited partnerships, fund-of-funds and
limited liability companies. We require that each investor in each Fund be an “accredited investor” as
defined in Regulation D under the Securities Act of 1933 or a “qualified purchaser”, within the meaning
of 2(a) (51) of the Investment Company Act of 1940, as amended. We also require that each investor
in each Fund that is a U.S. resident be a “qualified client” within the meaning of Rule 205-3 of the
Investment Advisers Act of 1940, as amended.

The Funds have minimum investment requirements. We reserve the right to decrease minimums in our
sole discretion.