Battery Management Corp

Item 5 – Fees and Compensation

Except as described below, Battery Management Company LLC receives an annual management
fee from each BV Fund, payable quarterly in advance, pursuant to a Management Agreement with

each BV Fund and the GP Entity of such BV Fund. In most instances, the fee is based on a
percentage of committed capital which percentage varies over the life of the BV Fund. For certain
BV Funds, the fee is based on a percentage of invested capital. Battery Management LLC pays a
portion of the management fee to Battery Management Corp. for its services to the BV Funds.

The management fee payable to Battery Management LLC may be reduced or off-set to the extent
Battery Management LLC or its affiliates receive director’s fees, consulting fees, monitoring fees,
acquisition fees, disposition fees or other remuneration from a BV Fund’s portfolio company for
services provided to such portfolio company. To date, none of the BV Funds have charged
monitoring fees to their portfolio companies. However, Battery may receive monitoring fees when
another investor in a portfolio company has negotiated investment terms pursuant to which that and
other investors in such portfolio company (including other BV Funds) receive such fees. Any such
monitoring fee payments received from a portfolio company will generally result in a “management
fee offset” under the relevant BV Fund’s partnership agreement for so long as there are sufficient
remaining management fees payable.
 As described below in Item 6, the GP Entity of each BV Fund also typically receives a
 performance-based profit allocation from the BV Fund. Management fees and profit allocations
 are automatically paid or allocated directly by the BV Funds under the terms of their operating
 documents The amount of the management fee and profit allocation for each BV Fund is set forth
 in the operating documents for such BV Fund and generally is not negotiable. In addition to
 management fees and performance-based allocations, the BV Funds may also pay for expenses
 relating to the BV Funds’ formation, investment activities and ongoing operations. The operating
 documents for each BV Fund include details on such expenses, including all of the fees and
 expenses incurred in the purchase, holding or disposition of investments or attributable to a BV
 Funds’ investments (whether or not any such investment is consummated), costs and expenses of
 advisers and independent consultants incurred in investigating and evaluating specific investments
 or disposition opportunities; any other “broken deal” costs expenses of individual consultants
 engaged on an ongoing basis to provide services related to one or more specific actual or
 prospective investments and/or portfolio companies, including their consulting fees and their travel
 and travel-related expenses; fees and expenses of third-parties serving as such BV Fund designees
 to a portfolio company’s board of directors; third-party brokerage and similar fees; third-party
 research costs attributable to specific investments or investment or disposition opportunities; fees
 and expenses incurred in connection with such BV Fund’s publicly-traded securities; taxes
 applicable to such BV Fund; fees and expenses incurred in connection with the maintenance of
 bank or custodian accounts and line of credit facilities; expenses incurred in connection with such
 BV Fund’s hedging activities and other permitted derivative transactions undertaken; costs and
 expenses related to management and investments of such BV Fund’s cash reserves; fees and
 expenses related to any foreign exchange or currency transactions by such BV Fund; interest for
 borrowed money; fees and expenses incurred for third-party marketing/public relations services to
 the extent such services are rendered for the benefit of specific portfolio companies of such BV
 Fund; fees and expenses in connection with the annual audit of such BV Fund’s financial
 statements and the preparation of such BV Fund’s annual tax return and other accounting, auditing

 and tax matters fees, costs and expenses incurred in complying with anti-money laundering or
 “know your customer” laws or relevant policies, government sanctions programs, cross-border
 activity tracking; costs of independent appraisers, expenses associated with insurance, preparation
 costs and other expenses associated with annual and other reports and other communications to
 such BV Fund’s limited partners; costs and expenses related to software programs used to assist
 with compliance with such BV Fund’s operating documents, side letters and other agreements with
 respect to such BV Fund; costs and expenses related to cybersecurity risk prevention, including
 related insurance, in each case, relating to the affairs of such BV Fund; costs and expenses
 associated with environmental, social and corporate governance and similar matters with respect
 to such BV Fund or any portfolio company or prospective portfolio company, including engaging
 any consultants or other third-party service providers with respect thereto all legal, accounting,
 filing and other fees and expenses in connection with such BV Fund’s compliance with any U.S.
 or non-U.S. jurisdictional regulatory requirements (including foreign direct investment and
 antitrust regulations); fees and expenses in connection with the dissolution and liquidation of such
 BV Fund and its investments; costs associated with the formation, maintenance and liquidation of
 “alternative investment vehicles” and other intermediate holding entities through which such BV
 Fund holds an interest in a portfolio company; costs associated with annual meetings of the BV
 Funds; costs and expenses incurred in connection with any restructuring of such BV Fund,
 including amendments to the governing documents of such BV Fund and related entities in
 connection therewith expenses of such BV Fund’s advisory committee and reimbursement of
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Item 7 – Types of Clients

Battery Management Corp. provides investment advisory services to private investment funds,
generally organized as limited partnerships. Certain affiliates of Battery Management Corp. serve
as the GP Entities with respect to such BV Funds and have ultimate investment discretion. Investors
in the BV Funds typically include public pension plans, corporate pension plans, university
endowments, foundations, insurance companies, sovereign wealth funds, fund-of-funds, banks,
family offices, other institutional investors and high-net worth individuals.

Battery Ventures sets a target for total capital commitments with respect to each BV Fund.
Additionally, the GP Entity of each BV Fund typically sets a minimum capital contribution amount

for investors.