BentallGreenOak US Limited Partnership

Item 5 - Fees and Compensation

This brochure will be delivered only to “qualified purchasers” as defined in Section 2(a)(51)(A) of the
Investment Company Act of 1940. As such, BentallGreenOak is not required to provide fee and
compensation details in this brochure.

BentallGreenOak does deduct its fees in accordance with our client advisory agreements from the
client assets under our control on a monthly or quarterly basis. Individual arrangements for settling
fees for services provided can be negotiated and tailored for each individual client.

Prior to investing, each investor is asked to carefully read and review the particular offering and/or
governing documents for a complete understanding of the terms, including, the compensation
received by BGO and its affiliates and how such compensation is calculated, the expenses paid by
the Client or Fund and withdrawal rights and limitations. The information contained in this Brochure
is only a summary and is qualified in its entirety by each such Client or Fund’s offering and/or
governing documents.

Where included in a specific client’s agreement regarding our compensation, BentallGreenOak will
earn fees from the client for the sale of real estate assets under its management. In order to manage
conflicts of interest and ensure BentallGreenOak’s fiduciary obligations are met when making
disposition recommendations, all investment decisions are approved by formal Investment
Committee in accordance with an established Conflict and Investment Allocation Policy.

Investment Committee membership is made up of either senior management of the organization or
independent members and provides strategic oversight, governance oversight, and formal internal
authority. Some client mandates retain discretion and require that BentallGreenOak formally seek
approval for all major transactions from authorized representatives of the client in addition to
approval from the Investment Committee.

Our compensation is subject to waiver and reduction. Our Firm, our affiliates and certain of our
professionals invest in investment vehicles advised by us. Our affiliates, principals and employees
are subject to reduced or no management fees and/or carried interest on their direct or indirect
investment in our Funds.

Private Funds

BGO and/or our affiliates typically receive a management fee from each Fund as compensation for
advisory services, the terms of which are set forth in each Fund’s offering documents. The
management fee paid by each Fund are generally in the range of 0.5-2%. During a Closed End Fund’s
investment period, the fee is generally calculated on a base of aggregate commitments made by

investors to such Fund. Afterwards, the base scales down to the amount of such Fund’s invested
capital or net asset value. In some cases, invested capital includes amounts borrowed by the Fund.
Investors in our Funds indirectly pay the management fees by way of capital contributions to the
Funds. In addition, we generally are able to deduct fees from distributions otherwise payable to
investors in our Funds.

As set forth in greater detail in Item 6 below, the general partner of certain Funds typically receives
a performance-based profit allocation in the form of “carried interest,” entitling it to a prescribed
portion of a Fund’s profits. Each Fund which shares carried interest with BGO has established a
distribution waterfall describing how distributions will be paid to the underlying investors in such
Fund and to the general partner. Generally, a carried interest represents a share of distributions
made by a Fund in excess of the relevant investors’ invested capital and allocable fees and expenses.
Carried interest distributions may be made each time an investment is realized or on a different basis
as agreed to between the Fund and its investors and as set forth in the governing documents of such
Fund.

Carried interest allocations generally do not exceed 20% of profits and are generally subject to certain
preferred return hurdles. The preferred return hurdle varies between Funds, but is generally 7-10%.
As described below, certain investors in the Funds and/or affiliates of BGO pay a reduced (or no)
carried interest in respect of their investment in the Fund. The manner of calculation and application
of carried interest profit allocations are disclosed in the governing documents for each Fund.
In our European lending platform, we also receive origination fees of up to 1.0%, which are generally
paid by borrowers from the respective Fund (and not our investors).

From time to time, we or our affiliates enter into side letters or other written understandings with
individual investors that have the effect of establishing more favorable rights under, or altering or
supplementing, the terms of a particular Fund’s offering documents. The altered terms include but
are not limited to the compensation we receive from our clients. Our Firm and our affiliates do not
impose a uniform schedule of management fees or performance-based compensation for all Funds
(and their respective investors).

We, from time to time, offer certain investors in our clients the ability to co-invest in certain
investment opportunities alongside our clients. In such cases, the fees charged in connection with a
co-investment are generally different than the compensation we receive from other clients also
investing in the same investment. Certain investors in our Funds receive priority rights with respect
to co-investment opportunities based on objective criteria, and any priorities are generally disclosed
in the offering documents for such Funds.

The offering documents for certain Funds provide that BGO and its affiliates receive additional fees
(other than the management fees) in connection with the affairs of a Fund and a Fund’s investments,
including monitoring fees, topping fees, break-up fees, director’s fees, and other similar transaction
...

Item 7 - Types of Clients

BentallGreenOak acts as a real estate investment advisor for a select number of institutional investors,
such as public, corporate and Taft-Hartley retirement systems, private funds, endowments and
sovereign wealth funds.

Our Funds rely on certain exclusions and exceptions from the definition of “investment company” in
the Investment Company Act of 1940, as amended. Accordingly, our Funds are not registered as
investment companies with the SEC.

BentallGreenOak has no set minimum account size for which it is prepared to establish for its clients.
It typically seeks clients capable of allocating more than $50.0 million to their BentallGreenOak
account.