Brigham Royalties Management LLC

Fees and Compensation

The fees and expenses associated with investments in the Funds are to be described in detail in
the relevant Fund’s Offering Documents. Brigham acts as investment adviser to the Funds, both
of which are Delaware limited partnerships.

Brigham reserves the right, in its sole discretion, to manage other funds or accounts with higher
or lower fees, different fee structures and different expense payment arrangements than the
Funds. Further, the General Partners, in their sole discretion, are permitted to agree with a
Limited Partner to waive or modify the applicable provisions of the relevant Fund’s Offering
Documents, including the fees charged, with respect to such Limited Partner, without obtaining
the consent of any other Limited Partner.

Set forth below is a description of the Fund’s fees and expenses.

Management Fee. Brigham collects a management fee from BROY Fund I in accordance with the
Fund’s Offering Documents. Brigham does not collect a management fee from BROY BEVO PIV.

Carried Interest. With respect to BROY Fund I only, net proceeds from the disposition of its
investments, together with any distributions or interest earned on such investment, are
distributed to each participating Investor in accordance with BROY Fund I’s Offering Documents.
Once certain hurdles are achieved, affiliates, employees, and other persons that help manage
BROY Fund I are entitled to receive a portion of distributions (“Carried Interest”). Broadly
speaking, as BROY Fund I’s realized return achieves certain metrics over time, the Carried
Interest participants receive an increasing share of each Fund’s future cash flows. Brigham does
not receive Carried Interest from BROY BEVO PIV.

Directors’ Fees, Advisory Fees and Ancillary Fees. With respect to the Funds, Brigham does not
currently collect any directors’ fees, advisory fees or ancillary fees. To the extent Brigham
personnel receive directors’ fees, advisory fees or ancillary fees, the relevant General Partner will
pay, or cause the relevant Brigham person to pay, to the relevant Fund all such fees. To date, the
Funds have not paid any such fees and do not expect to pay any such fees in the future.

General & Administrative Expenses (“G&A”). Each of the Funds is responsible for its operating
expenses and Brigham is responsible for its own ordinary administrative and overhead expenses
as set forth in each Fund’s Offering Documents.

Other Fund Expenses. The Funds will generally pay, or will reimburse Brigham for, other relevant
expenses, as set forth in each Fund’s Offering Documents.

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Types of Clients

Brigham provides investment advisory services to the Funds based on the investment objectives
and strategies described in the relevant Fund’s Offering Documents. Brigham reserves the right,
in its sole discretion, to manage other funds or accounts with different objectives, higher or lower
fees and different fee structures than the Funds.

Investors in the Funds have been or will be required to complete and submit a subscription
agreement binding them to the terms of the relevant Fund’s Offering Documents. Brigham only
admits “accredited investors,” as defined in Rule 501(a) of Regulation D under the Securities Act
of 1933, as amended, and the rules and regulations promulgated thereunder (the “Securities
Act”), and “qualified clients,” as defined in Rule 205-3 under the Advisers Act. The minimum
investment in the Funds is $250,000, although the General Partners reserve the right to accept
investments in a lesser amount at their sole discretion.

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