Bowside Capital LLC

Item 5: Fees and Compensation
Bowside receives a management fee as compensation for investment advisory services to each
Bowside Fund. The management fee is deducted from the capital accounts of the Bowside Fund
investors and paid to Bowside through the General Partner of each Bowside Fund. In addition, as
described in Item 6, the terms of the Bowside Funds entitle their respective General Partner to a
percentage of the profits of such Bowside Fund, commonly referred to as a “carried interest.”

As more specifically set forth in the offering documents for the Bowside Funds, the management
fees are paid quarterly in advance, and the structure varies by fund. The management fee for
Bowside III, Bowside IV, and Bowside V is initially equal to 1.5% of the aggregate investor capital
commitments. For Bowside III, commencing with the first full calendar year following the
calendar year in which its investment period expires or terminates, the annual management fee rate
will be reduced by 0.25% each year to a floor of 0.5%. For Bowside IV and Bowside V,
commencing with the first full fiscal quarter following the calendar quarter in which its investment
period expires or terminates, the annual management fee rate will be reduced by 0.25% each year
to a floor of 0.5%. The Bowside IV management fee is offset by any transaction fees related to
Bowside IV investments received by Bowside, the General Partner of Bowside IV, or any affiliate
of Bowside or the General Partner of Bowside IV. The Bowside V management fee is offset by
any transaction fees related to Bowside V investments received by Bowside, the General Partner
of Bowside V, or any affiliate of Bowside or the General Partner of Bowside V.

The General Partners of each Bowside Fund may waive or reduce the management fee by the
amount that would be borne by the General Partners or any investor who is affiliated with the
General Partners. In addition, the General Partners may waive carried interest distributions they
would otherwise be entitled to receive in respect of contributions made by certain affiliated
investors.

In addition to paying management fees and making carried interest distributions, each Bowside
Fund also pays and, as applicable, reimburses Bowside for all legal and organizational expenses
relating to the Bowside Funds’ organization, formation, admission of partners and investors (up to
an amount specified in such Bowside Fund’s limited partnership agreement, after which, Bowside
will be responsible for bearing the cost), investment activities, and ongoing operations, including
any brokerage fees incurred in connection with transactions in securities owned by the Bowside
Funds. As more fully detailed in the offering documents for each Bowside Fund, such expenses
generally include, but are not limited to, the following:

   •   Expenses related to travel, legal, accounting, filing, and all other expenses incurred in
       connection with the offer and sale of interests in the Bowside Fund;

   •   Expenses related to ongoing operations, including the management fee, maintenance of
       bank accounts, custodial costs, and fees associated with bookkeeping and accounting
       services, as well as legal, accounting, audit, custodial, consulting, and other professional
       fees;

   •   Advisory Board or LP Advisory Committee expenses and fees and expenses associated
       with the preparation and distribution of reports to the partners and organizing and holding
       partner meetings;

   •   Interest and expenses associated with the Bowside Fund borrowings;

   •   Expenses related to making and selling investments, including research, travel, and other
       out-of-pocket expenses relating to sourcing and investigating investment opportunities
       (whether or not consummated) and the ongoing management of the Bowside Fund
       investments, as well as costs of acquisition, ownership, financing, or sale of the Bowside
       Fund investments;

   •   Taxes, fees, or other government charges imposed on the Bowside Funds and the cost and
       expense of any government or regulatory registrations, filings, returns, or reports required
       of the Bowside Funds;

   •   All expenses related to any threatened or actual litigation, including indemnification
       expenses, and premiums for liability insurance to protect the Bowside Funds and their
       affiliates in connection with the activity of the Bowside Funds;

   •   Expenses incurred with liquidating the Bowside Funds; and

   •   All extraordinary expenses of the Bowside Funds and all other expenses that are incurred
       by Bowside or its affiliates in connection with operating the Bowside Funds.

The Bowside Funds will not be responsible for the ordinary and usual office overhead or
compensation of Bowside employees.

Item 7: Types of Clients
Bowside provides investment advisory services to the Bowside Funds, each of which is organized
as a limited partnership. Investors in the Bowside Funds typically include high net worth
individuals, trusts, limited partnerships, and other entities. To be eligible to invest in a Bowside
Fund, an investor must meet certain requirements; for example, an investor must be an “accredited
investor” (as defined in Rule 501(a) of Regulation D under the Securities Act) and a “qualified
purchaser” (as defined in Section 2(a)(51)(A) of the Investment Company Act and the rules
promulgated thereunder). Minimum capital commitments for each Bowside Fund are disclosed in
the respective confidential offering memorandum of each Bowside Fund, although investments
below the established minimums are permitted under certain circumstances.