BHMS Investments LP

Item 5.        Fees and Compensation
Management Fees

The management fees charged to investors in the Funds, as well as the methodology used to assess
the management fee, are determined by the terms of the Governing Documents for each of the
Funds. The management fees vary across the Funds in accordance with the relevant Governing
Documents. Management fees can be assessed and deducted directly from an investor’s capital
account in advance. BHMS or the General Partner may, in their sole discretion, waive or reduce all
or any portion of the management fee with respect to any investor. The management fee for a Fund
is typically based on the capital commitments of such Fund during its investment period and
thereafter on the invested capital of the Fund for the remainder of its expected life, although the
management fees for any specific Fund may vary and are negotiated with such Fund’s investors
during the fund-raising period of the Fund. In addition, the General Partner of each Fund is entitled
to carried interest or incentive allocations (typically a percentage of profits derived from the

disposition of such Fund’s investments following a preferred rate of return to the Fund’s investors).
Such items are outlined in Item 6 below.

Expenses

Investors in a Fund pay, whether directly or through reimbursement to BHMS or General Partners, all costs and
expenses related to a Fund’s investments and operations, including a Fund’s allocated share of
estimated costs and expenses. The permissible costs and expenses for each Fund is determined by
the Fund’s Governing Documents.

In general, such other costs and expenses include, but are not limited to organizational expenses;
offering expenses; expenses (including transportation, meal, and lodging expenses of the personnel
of BHMS or General Partners) relating to the origination, evaluation, diligence, valuation,
structuring, negotiation, acquisition, financing, asset management, holding, monitoring,
capitalization and sale or disposition of or bid on actual and potential investments; fees, costs and
expenses related to broker, dealer, finder, underwriting, loan administration, private placement,
sales, investment banking and other similar services; any and all expenses incurred in connection
with the engagement of third party investment sourcing consultants to identify investment
opportunities, and who may be engaged on an exclusive or non-exclusive basis (for the avoidance of
doubt, such expenses shall include success or similar fees paid to such consultant upon the
consummation of an investment, retainer fees paid on an ongoing basis to such consultants,
reimbursement for expenses incurred by such consultant in connection with the engagement, and the
reasonable use of resources to further such consultant’s engagement); sales commissions and fees,
commitment fees, non-refundable deposits and costs and expenses incurred in connection with the
acquisition or disposition of actual or potential investments (whether or not consummated)
(including a share of expenses of any vehicle formed in connection with a co-investment
opportunity); reverse breakup, termination and other similar fees; carried interest, incentive
allocations, management fees or similar fees, costs and expenses payable or allocable to joint
venture partners; principal and interest and fees, commissions, costs and expenses and other amounts
payable related to or arising from any indebtedness or hedging activities; indebtedness or hedging
activities of, or guarantees made by, the Funds and the General Partners or its affiliates on behalf of
the Funds, including principal and interest and fees, commissions, costs and expenses and other
amounts payable related to or arising from any such indebtedness or hedging activities of a Fund, or
seeking to put in place any such indebtedness or hedging activities; financing, commitment,
origination and similar fees and expenses; expenses related to conferences, trainings and
management meetings relating to actual or potential investments; costs, fees and expenses related to
the operations of the Funds, including costs associated with compliance with any anti-money
laundering laws and regulations, and administration, tracking or reporting software of a Fund, fees
and expenses of any third-party administrator, costs related to research, administration, filing,
printing, mailing, courier, title, transfer, survey, registration and other similar costs, fees and
expenses of experts, appraisers, custodians, legal counsel, consultants, accountants, auditors, tax
return preparers and other professionals, including expenses associated with the preparation of the
financial statements or other reports and tax returns and other tax filings of the Funds (including any
such persons retained by an Advisory Committee); fees and expenses relating to regulatory
compliance matters directly related to the activities of the private fund, including the preparation of
Form PF; premiums for casualty and other insurance protecting a Fund and its property and
investments from loss, including cybersecurity insurance; premiums for insurance protecting a Fund
and certain persons from liabilities to third parties in connection with investments and other

activities, including insurance against liability in connection with the activities of the Funds
(including in respect of any breach or alleged breach of fiduciary or similar duty) and expenses for
any insurance contemplated by a Fund’s documents; expenses related to organizing, maintaining and
operating entities (including alternative investment vehicles) through or in which investments may
be made; costs and expenses related to travel (including transportation, meals, lodging and
entertainment), other meals, lodging or entertainment relating to a Fund’s activities; expenses of any
Advisory Committee and expenses of any meeting or conference of the partners or meetings with
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Item 7.         Types of Clients
The Firm provides investment advisory services to the Funds. In the future, BHMS may provide
investment advisory services to additional clients including, but not limited to other pooled
investment vehicles, single-investor vehicles, and co-investment vehicles. The Funds are generally
structured as closed-ended investment vehicles.

Subject to the Governing Documents, the Firm or General Partners may also offer co-investments to
investors as well as third-parties not invested in a Fund. Pursuant to the terms of the Governing Documents,

BHMS or General Partners may be obligated to offer a co-investment to investors that exceed a specified
size. The allocation of co-investment opportunities is in the discretion of BHMS and General Partners, and
current investors may not receive allocations of co-investments unless BHMS or General Partners are
otherwise obligated by the terms of the Governing Documents or a side-letter with a particular investor.

Investments in the Funds are subject to a minimum commitment. BHMS and General Partners of
each Fund reserves the right to waive or otherwise modify (including the size, timing, notification
protocols, or escrow protocols) the minimum commitments, initial capital contributions, and
subsequent closing for any investor in BHMS’ or General Partners’ sole discretion, unless otherwise
specified in the Governing Documents. The Governing Documents restrict withdrawal rights and
transfer rights of investors.