Broadlight Capital Management LLC

FEES AND COMPENSATION

        In general, BroadLight receives a management fee (the “Management Fee”) and a carried
interest in connection with advisory services provided to the Funds. BroadLight and/or its affiliates

receive additional compensation in connection with management and other services performed for
portfolio companies of Funds and such additional compensation will offset in whole or in part the
management fees otherwise payable to BroadLight to the extent provided by the Governing
Documents. In addition, BroadLight reserves the right to receive compensation for management
and other services performed in connection with co-investments made in portfolio companies of
the Funds. Investors in a Fund also bear certain expenses. A summary of the Fund’s anticipated
fees and expenses follows, but investors should review the applicable Fund’s Governing
Documents for details regarding fee structure and expenses.

Management Fees

        The Funds pay a Management Fee equal to 2% on an annual basis of aggregate capital
commitments (“Commitments”) of investors that are not designated as “affiliated partners” by
the General Partner. Payments are made quarterly in advance. Commencing with the first
Management Fee due date after the expiration of the Fund’s investment period or earlier upon the
occurrence of certain events as set forth in the applicable Partnership Agreement, the Management
Fee will equal 2% of (i) the aggregate amount of investment contributions, plus (ii) the aggregate
amount of any outstanding borrowings made in anticipation or in lieu of the Fund partners making
investment contributions, less (iii) the aggregate amount of investment contributions with respect
to the portion of each investment that has been disposed of or completely written off, in each case
with respect to Fund partners not designated as “affiliated partners”; provided that investments
(other than Bridge Financings (as defined below)) in a portfolio company will be treated as having
been disposed of or completely written-off only to the extent that, as of the date of any such
disposition or write-off, the aggregate fair market value of all remaining Fund investments
(excluding Bridge Financings) in such portfolio company is less than the Fund’s aggregate
investment contributions made with respect to such portfolio company. Installments of the
Management Fee payable for any period other than a full three-month period are adjusted on a pro
rata basis according to the actual number of days in such period. As a general matter, Management
Fees will be payable during term extensions unless otherwise agreed with investors.

         The Fund’s Management Fee will be reduced by an amount equal to 100% of Transaction
Fees in excess of $1 million per year, to the extent attributable to Fund partners not designated as
“affiliated partners” by the General Partner. “Transaction Fees” include (i) any directors’ fees
paid to the General Partner with respect to any Fund investment; (ii) any financial consulting fees
or advisory fees paid to the General Partner with respect to any Fund investment; (iii) any
transaction fees paid to the General Partner with respect to any Fund investment; and (iv) any
break-up fees with respect to Fund transactions not completed that are paid to the General Partner,
in each case net of certain expenses (including those described below) as set forth in the Partnership
Agreement; but not including, in any event, any amount received by the General Partner, the
Executive Advisory Board (as defined below) members or other person from a portfolio company
(1) as reimbursement for expenses directly related to such portfolio company, (2) as payment for
services provided to any portfolio company in the ordinary course of such portfolio company’s
business, (3) as compensation for services provided by the General Partner or other person as an
employee of or in a similar capacity for such portfolio company or (4) as compensation, including
fees, incentive equity or other stock awards, for services rendered by the Executive Advisory Board
members to a portfolio company or prospective portfolio company. The Principals and other
members or related persons of the Adviser currently manage or otherwise participate in talent
management, entertainment law or other entertainment-related businesses. Any fees or other

compensation received by such persons or any of their respective affiliates from or in respect of
such businesses, whether related to actual or potential Fund investments (e.g., a celebrity client’s
endorsement of a portfolio company), will not constitute Transaction Fees and shall not reduce the
Management Fee. For the avoidance of doubt any amount received by the General Partner, the
Adviser or an affiliate thereof that is not a Transaction Fee shall be for the benefit of such person
and shall not reduce the Management Fee.

        Various costs and expenses will reduce Transaction Fees (and therefore such amounts will
not reduce the Management Fee), including out-of-pocket costs and expenses (including travel
expenses) incurred by the General Partner in connection with any consummated or
unconsummated transaction or in connection with generating any such Transaction Fees. Any fees
of the type described in the definition of “Transaction Fees” with respect to an investment or
potential investment (including unconsummated transactions) will be allocated to the Fund only to
the extent of the Fund’s relative ownership or anticipated ownership of such investment or
potential investment on a fully diluted basis, or in such other manner as the General Partner
considers fair and equitable to its clients under the circumstances. Accordingly, the Fund will, in
most cases, only benefit from the Management Fee reduction described above with respect to its
allocable portion of any such fees and not the portion of any such fees allocable to any other person
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TYPES OF CLIENTS

        BroadLight provides investment advice to the Fund clients, and references throughout this
Brochure to “clients” and BroadLight’s related duties to and practices on behalf of its clients and/or
investors should be construed accordingly. For the avoidance of doubt, becoming an investor in a
Fund does not make such investor a “client” of BroadLight. The Funds include investment
partnerships or other investment entities formed under domestic or foreign laws and operated as
exempt investment pools under the U.S. Investment Company Act of 1940, as amended, and the
rules and regulations promulgated thereunder (the “Investment Company Act”). The investors
participating in the Funds generally include individuals, banks or thrift institutions, insurance
companies, other investment entities, university endowments, sovereign wealth funds, family
offices, pension and profit-sharing plans, trusts, estates or charitable organizations or other
corporations or business entities and, directly or indirectly, principals or other employees of
BroadLight and its affiliates and members of their families, Executive Advisory Board members
or other service providers retained by BroadLight, as well as executives of portfolio companies.

        For legal, tax, regulatory or other reasons, BroadLight is authorized to form one or more
alternative investment entities to make, restructure, or otherwise hold investments, including
outside the Funds. Generally, in such event, each investor that participates in an alternative
investment vehicle would do so on substantially the same terms and conditions as it participates in
the Funds.

        A Fund generally has a minimum investment amount of $5 million for third-party investors.
Such minimum investment amount may be waived by the General Partner. Fund interests are
offered and sold solely to “accredited investors,” as defined in Regulation D promulgated under
the U.S. Securities Act of 1933, as amended (the “Securities Act”), and, unless waived in the
discretion of the General Partner, “qualified purchasers” as that term is defined under the Investment
Company Act (or certain qualified knowledgeable BroadLight personnel).

              METHODS OF ANALYSIS, INVESTMENT STRATEGIES AND RISK OF LOSS

General

        BroadLight intends to bring a disciplined investing approach to growth equity. Through
BroadLight’s differentiated connectivity and sourcing engine, the Adviser will seek to selectively
invest in companies with sound business fundamentals at attractive valuations. BroadLight makes
venture, growth and pre-IPO equity and equity-like investments primarily in U.S.-centric
companies in the Consumer, Entertainment and Technology verticals. BroadLight will target
companies at the nexus of where the Principals’ network is best positioned to source and
potentially amplify potential transactions to create attractive risk-adjusted returns.

       There can be no assurance that BroadLight will achieve the investment objectives of any
Fund and a loss of investment is possible.

Investment and Operating Strategy

        BroadLight seeks to make venture, growth and pre-IPO equity and equity-like investments
primarily in U.S. companies in the consumer, entertainment and technology verticals. BroadLight
will target companies at the nexus of where the Principals’ network is best positioned to source
and potentially amplify potential transactions to create attractive risk-adjusted returns.

        BroadLight believes that it is capable of achieving attractive returns through its investment
strategy, which is built on the following investment principles:

   •   Selectivity: Leverage BroadLight’s Network of Talent (well-known entertainers, actors,
       athletes, writers, directors, producers, musicians, talent agents, business & sports
       executives and other personalities including social media influencers) and traditional
       sourcing capabilities to review and select investment opportunities at attractive valuations
   •   Evidence-Based Underwriting: Underwrite based on fact-based research and incorporate
       risks and mitigants in decision-making process
   •   Amplifying Growth: Accelerate brand and growth though pre-established talent influencer
       strategies for selected investments
   •   Active Portfolio Management: Provide strategic guidance to portfolio companies and
       monitor amplification strategies to drive value creation across the portfolio

         The Governing Documents of each Fund set out its investment objectives, limitations and
restrictions, which are expected to vary from Fund to Fund.

Risks of Investment

        Each Fund and its investors bear the risk of loss that BroadLight’s investment strategy
entails. The risks involved with BroadLight’s investment strategy and an investment in a Fund
include, but are not limited to, those described below:

        Business Risks. The Fund’s investment portfolio consists primarily of securities issued by
privately held companies, and operating results in a specified period will be difficult to predict.
Such investments involve a high degree of business and financial risk that can result in substantial
losses.

        Future and Past Performance. The Fund is a newly organized entity that has no prior
operating history or track record. Accordingly, the Fund does not have performance history for a
prospective investor to consider. In considering the prior experience of the Principals and Adviser
personnel (the “Team”), prospective investors should understand that an investment in the Fund
does not represent an interest in any investment or investment portfolio associated with their prior
experience. Information about the prior experience of the Team is not necessarily indicative or a
guarantee of the Fund’s future results. There can be no assurance that the Fund will generate
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