Avesi Partners LLC

“Fees and Compensation.”

        The existence of performance-based compensation has the potential to create an incentive
for the General Partner to make more speculative investments on behalf of a Fund than it would
otherwise make in the absence of such arrangement, although Avesi generally considers
performance-based compensation to better align its interests with those of its investors.

TYPES OF CLIENTS

      Avesi provides investment advice solely to its Fund clients, and references throughout this
Brochure to “clients” and to Avesi’s related duties to and practices on behalf of its clients and/or

investors should be construed accordingly. The Funds generally include investment partnerships
or other investment entities formed under domestic or foreign laws and operated as exempt
investment pools under the Investment Company Act of 1940, as amended, and the rules and
regulations promulgated thereunder. The investors participating in the Funds generally include
individuals, banks or thrift institutions, other investment entities, university endowments,
sovereign wealth funds, family offices, pension and profit-sharing plans, trusts, estates or
charitable organizations or other corporations or business entities and from time to time include,
directly or indirectly, principals or other employees of Avesi and its affiliates and members of their
families, members of the Operations Group, including Executive Advisors, or other service
providers retained by Avesi, as well as executives of portfolio companies.

        The relevant General Partner also generally is permitted from time to time to establish
Funds that are alternative investment vehicles in order to permit certain investors to participate in
one or more particular investment opportunities in a manner desirable for tax, regulatory or other
reasons. There generally is limited discretion to invest the assets of these vehicles independent of
limitations or other procedures set forth in the organizational documents of such vehicles and the
Governing Documents related Fund.

        The Funds generally has a minimum investment amount of $5 million for third-party
investors, and the Funds interests are generally offered and sold solely to (i) “accredited investors,”
as that term is defined in Regulation D promulgated under the U.S. Securities Act of 1933, as
amended, (ii) “qualified clients,” as that term is defined under the Advisers Act and the rules and
regulations promulgated thereunder, and unless waived in the discretion of the General Partner,
“qualified purchasers,” as that term is defined under the Investment Company Act and the rules
and regulations promulgated thereunder (or certain qualified knowledgeable Avesi personnel).
Avesi generally is permitted to waive such minimum investment amount.

             METHODS OF ANALYSIS, INVESTMENT STRATEGIES AND RISK OF LOSS

General

        Avesi is a private investment firm focused on making lower middle-market investments in
the healthcare services, business services, and healthcare information technology and tech-enabled
services sectors that are believed to benefit from Avesi’s in-house operating professionals and
experience. Avesi’s investment advisory services consist of identifying and evaluating investment
opportunities, negotiating investments, managing and monitoring investments and achieving
dispositions for investments. Investments are predominantly of non-public companies, although
investments in public companies are permitted.

        Avesi, on behalf of the Funds, will primarily target equity and equity-related investments
between $50 and $100 million in initial transaction size or in multiple investments made over time,
typically with $10-30 million in EBITDA, and are headquartered in the United States. Companies
in which the Funds seek to invest are typically low capital intensity businesses with recurring
revenue and operating leverage that have a path to significant revenue growth and/or margin
expansion through multiple tactical initiatives. Once an investment opportunity has been
identified, Avesi seeks to implement an effective operating strategy to improve the performance
of the acquired company by (i) leveraging the competitive strengths of companies and accelerating

organic growth through the expansion of products, services and/or geography, and/or (ii)
accelerating top-line growth and profitability through strategic, value-add acquisitions.

        There can be no assurance that Avesi will achieve the investment objectives of any Fund
and a loss of investment is possible.

Investment and Operating Strategy

       Avesi, on behalf of the Funds, will seek to employ a disciplined screening process that
focuses on the types of opportunities that fit within the Funds’ investment criteria, casting a wide,
but thoughtfully focused net. In summary, Avesi’s three key tenets of value creation expect to
guide the Funds’ investment strategy: buying well, building well and selling well.

      •      Buying Well: Avesi intends to target companies valued at a relative discount to
             comparable transactions and below the likely exit multiple. Avesi seeks to partner
             with well-established founders and management teams and implement thoughtful
             management incentives, such as rollover equity, seller notes, contingent payments
             and preferred equity. Avesi intends to target companies valued at a relative discount
             to comparable transactions, with low capital intensity, predictable revenue and strong
             operating leverage.

             Prior to making an investment, Avesi expects to thoroughly analyze the potential
             risks associated with the opportunity. The investment team will seek to identify and
             quantify potential risks and expects to establish a risk mitigation process before
             making an investment.

      •      Building Well: Avesi expects to focus on the growth of the portfolio company, while
             mitigating risks to the business and improving operational efficiency. Avesi seeks to
             leverage the competitive strengths of portfolio companies to accelerate growth
             through the expansion of products, services and/or geographic presence, and mitigate
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