Bench Walk Advisors LLC

Item 5: Fees and Compensation
A. Management Fees and Performance-Based Compensation

Bench Walk generally charges its Clients a one time-commitment fee, a management fee and a
performance fee in the form of carried interest. These fees for advisory services are described in
detail in each Client’s offering documents.

The fees applicable to each Client are detailed in the Client’s offering documents, and in some cases
may differ significantly from the general statements contained herein. Certain Bench Walk Funds
charge a one-time commitment fee of up to 1% up to a specified capital contribution amount, which
is payable with the investor’s first capital contribution.

Client investors generally pay a management fee on the first business day of each calendar quarter
in an amount of 1-2% per annum of the capital commitments or Net Invested Capital of the Client,
as specified in the governing documents. “Net Invested Capital” means the sum of (a) the cost basis
of the portfolio investments then held by a Client (b) additional capital committed to such portfolio
investments by such Client.

Bench Walk or the General Partner also generally receive carried interest allocations from the
Clients of 20-50% of the proceeds of realized portfolio investments of the Clients. Carried interest
allocations are generally subject to catch-up allocations, and/or General Partner clawbacks.

The calculation of all of the above fees and carried interest vary from Client to Client and are
described in detail in each Client’s offering documents.

Neither Bench Walk nor any of its supervised persons accepts compensation (e.g., brokerage
commissions) for the sale of securities or other investment products.

In the sole discretion of the Firm, any fees and carried interest described above may be waived,
reduced or calculated differently with respect to certain investors in Bench Walk Funds or Clients.
Certain Bench Walk Clients do not bear all of the above fees and carried interest, as described in
greater detail in relevant governing agreements.

B.   Payment of Fees

Fees and compensation paid to the Firm or its affiliates by Clients are generally deducted from the
assets of such clients. The timing of fee deductions are specified in each Client’s organizational
documents.

C. Other Expenses and Fees

Bench Walk will be responsible for and pay all ordinary expenses of its operations incidental to the
administration of the Clients, except for those expenses borne directly by the Clients as set forth
below. The expenses to be borne by Bench Walk include, without limitation, all costs and expenses
relating to office space, utility services, Bench Walk’s own administrative and clerical functions

and salaries, wages and other expenses of Bench Walk’s employees and expenses for liability
insurance, including, without limitation, directors and officers liability insurance, errors and
omissions insurance expenses.

Except as provided above, Clients will bear additional fees and expenses. The expenses borne by a
specific Client are detailed in the Client’s governing documents. The following is a non-exhaustive
list of expenses borne by Clients (which vary from Client to Client): (i) all costs and expenses with
respect to the actual or proposed acquisition, financing, holding, monitoring, or disposition of
portfolio investments, including, without limitation, bank service fees, fees and expenses of experts
and travel expenses incurred for investment related purposes, outside legal counsel, consultants,
experts, auditors and accountants, risk management expenses and financing costs, and licensing and
enforcement costs; (ii) certain expenses, including, without limitation, litigation, indemnification,
and contribution expenses; (iii) entity-level taxes and other governmental fees and charges; (iv)
legal, operating, accounting, tax return preparation and consulting, auditing, and administrative
expenses and fees for outside services; (v) cost of software (including, without limitation, the fees
of third party software developers) used by the General Partner and its affiliates to track and monitor
the Portfolio Investments; (vi) the costs of annual or special meetings of the Partners and printing
and delivering periodic reports or other information to investors in the Bench Walk Funds; (vii)
custody fees and expenses; (viii) all legal and other expenses incurred in the formation of the
Clients, the general partner and Bench Walk, and the offering of interests in the Clients (including
expenses for regulatory compliance in connection therewith); (x) fees and expenses of placement
agents; and (xi) regulatory expenses.

To the extent that expenses properly borne by Clients are paid by the Firm or any of its affiliates,
the applicable Clients will reimburse such parties for such expenses.

D. Prepayment of Fees

Fees paid in advance will be reimbursed to investors in the Bench Walk Funds to the extent that
such investors withdraw from the Bench Walk Funds prior to the consummation of such Bench
Walk Funds’ term, however the Bench Walk Funds are all closed-end vehicles and therefore
withdrawals prior to the completion of the applicable Fund’s term are not anticipated.

Item 7: Types of Clients
Bench Walk provides investment advisory services on a discretionary basis solely to the privately
offered funds described in Item 4.