Blackstone Strategic Alliance Advisors LLC

ITEM 5 – FEES AND COMPENSATION

benefits of the strategic support personnel performing such services, will be allocated between
the BSAA Funds and/or BSAA as determined by BSAA in good faith in accordance with its
strategic support expense policy. SAF IV is the latest vintage in the BSAA Funds.

Blackstone Strategic Alliance Advisors L.L.C.                                       Blackstone | 10

Item 7 – Types of Clients
BSAA’s clients consist of the BSAA Funds. Please see Item 4 – Advisory Business for more
information on the Clients. Investors in BSAA Funds are based in the U.S. and outside of the
U.S. and generally will consist of:
    Banks and Other Financial Institutions
    Insurance Companies
    Investment Companies
    Public and Private Retirement and Pension Plans
    Public and Private Profit Sharing Plans
    Trusts and Estates
    Charitable Organizations
    State and Municipal Government Agencies
    Sovereign Wealth Funds
    Hedge Funds
    High Net Worth Individuals
    Corporations
    Business Entities Other than those Listed Above
    Certain Blackstone Employees

All Investors are subject to applicable suitability and eligibility requirements.

Blackstone Strategic Alliance Advisors L.L.C.                                       Blackstone | 12