Bracket Ventures Management LLC

Item 5: Fees and Compensation

The Adviser receives compensation based on assets under management. Detailed information with
respect to how the Adviser is compensated for the advisory services it provides is contained in the
applicable Governing Documents. In addition, the General Partner of each Fund is entitled to receive
performance-based profit distributions with respect to a Fund as set forth in the applicable Governing
Documents (“Carried Interest”).

With respect to the Funds, the Adviser generally receives a 2% annualized asset-based management
fee calculated as a percentage of each investor’s capital commitment, payable quarterly in advance.
Based on the terms contained in the Governing Documents, each Fund’s General Partner is also
eligible to receive Carried Interest distributions of 20%.

With respect to the SPVs, the Adviser is typically paid a one-time 2% asset-based management fee
calculated as a percentage of each investor’s capital commitment, and the applicable Manager or
General Partner is eligible to receive Carried Interest distributions of 10-20%, but the terms of each

deal are negotiated on a case-by-case basis, and investors should review the terms in the Governing
Documents prior to investing.

In the sole discretion of the General Partner or Manager of each Fund and SPV, management fees
and Carried Interest may be waived, reduced or calculated differently with respect to certain investors.

Each Fund bears all costs and expenses relating to such Fund’s operations, including, but not limited
to: (i) accounting, legal counsel, consulting and other out-of-pocket fees, costs and expenses relating
to the actual or proposed acquisition, holding or disposition of investments (including, without
limitation, expenses relating to investing in the Fund, broker deal expenses of the Fund, and custody
costs and hedging costs charged to the Fund); (ii) the costs of investor communications; (iii) all other
costs incurred in connection with the administration of the Fund (including the costs of third-party
fund administrators retained by the Fund’s General Partner); (iv) liquidation expenses of the Fund; (v)
any sales or other taxes (except as provided below), fees or government charges which may be assessed
against the Fund; (vi) commissions or brokerage fees or similar charges incurred in connection with
the purchase or sale of securities (including any merger fees payable to third parties and whether or
not any such purchase or sale is consummated); (vii) all expenses relating to litigation and threatened
litigation involving the Fund, including indemnification expenses; expenses attributable to normal and
extraordinary investment banking, commercial banking, accounting, appraisal, legal, custodial and
registration services provided to the Fund and any expenses attributable to consulting services; (viii)
all extraordinary expenses of the Fund and all other expenses properly chargeable to the activities of
the Fund or that are authorized by the Governing Documents (collectively, “Fund Expenses”). Each
Fund (and not such Fund’s General Partner) shall pay all taxes imposed on the Fund as determined
by its General Partner and all of its extraordinary expenses (such as litigation and indemnification).
Additional details regarding the Firm’s brokerage practices can be found in Item 12.

For Funds or SPVs that have investments in private investment funds advised by third-party
investment managers, in addition to asset-based management fees paid to the Adviser, Carried Interest
paid to the General Partner or Manager, and other expenses outlined in the applicable Fund or SPV’s
Governing Documents, such Fund or SPV also pays management fees, carried interest, and other
expenses to those third-party investment managers and/or general partners of the private investment
funds that such Fund or SPV invests in.

Each SPV shall reimburse its General Partner or Manager for all direct expenses incurred by such
General Partner or Manager on behalf of the SPV in carrying out the SPVs’ business activities.

In addition to the management fees paid to the Adviser and Carried Interest paid to the General
Partner or Manager of each Fund and SPV, the Governing Documents allow the Firm to occasionally
provide consulting services to companies in exchange for consulting fees and/or equity shares in such
companies. To date, the Firm has not provided consulting services to or received any compensation
from any companies held in the Funds or SPVs.

Item 7: Types of Clients

The Firm provides investment advisory services to the Funds and SPVs. Investors in the Funds
and SPVs must abide by the terms of their respective Governing Documents, including executing
a limited partnership agreement, subscription agreement and/or other appropriate instruments,
pursuant to which they agree to be bound by the terms and provisions thereof. The Firm may in
the future provide investment advisory services to additional clients, including, but not limited
to, other private investment funds.

The Funds and SPVs rely on certain exclusions from the definition of “investment company” in
the Investment Company Act of 1940, as amended. Accordingly, none of the Funds and the
SPVs are registered as an investment company with the SEC.