Bright Path Sports Partners LLC

Item 5: Fees and Compensation

Fees

Bright Path typically receives a management fee (the “Management Fee”) from the Funds that is
generally paid quarterly in advance on January 1, April 1, July 1, and October 1 of each fiscal year.
However, this may change and will always be subject to the applicable Governing Documents.
During the duration of the investment, the Management Fee is a percentage of the called or
committed capital. Depending on the investment this amount may represent the full amount of the
investment or be subject to a capital call schedule over some agreed time period. The Management
Fee does not include expenses associated with the investment in outside services that may arise
from time to time to effectively manage the investment.

Additionally, the GP will be eligible to receive performance-based compensation from the Funds
based on a prescribed return on capital to the investors (“Carried Interest”). The Carried Interest
will be negotiated on a deal-by-deal basis with investors and the corresponding realization will be
pro rata based on the full or partial exit of each investment. Please note, select investors may
participate in a portion of the Carried Interest paid to Bright Path.

Bright Path and its affiliated entities may elect to waive or reduce Management Fees, performance-
based compensation, special fees and/or other payments for any investor, including investors that
are affiliates and/or related persons of Bright Path. Officers and employees of the firm will
typically not be charged a Management Fee or be subject to Carried Interest. As such, the GP
COI’s (“Co-Investments”) in any Bright Path-managed Fund are generally not subject to such fees,
but do bear their pro-rata share of the operating expenses borne by the applicable Funds.

Fees charged to any future COI, including any Management Fee, will be negotiated on a deal-by-
deal basis.

Investors in the Funds are required to be “accredited investors” within the meaning of Regulation
D of the U. S. Securities Act of 1933, as amended (the “Securities Act”), or “qualified purchasers”
within the meaning of Section 2(a)(51) of the U. S. Investment Company Act of 1940, as amended
(the “Investment Company Act”).

Each fund will bear its costs related to professional or organizational fees that are disclosed in the
applicable Governing Documents. Bright Path will be responsible for its routine overhead
including rent, utilities and staff expenses, compensation and benefits related to employees of
Bright Path.

Any fees may be similar or substantially different that other fees negotiated but will be determined
on a deal-by-deal basis and disclosed in the applicable Governing Documents.