Broadwing Capital Management LLC

Item 5: Fees and Compensation

The following is a general description of the fees, compensation, and other expenses of the Fund(s).
The Governing Documents generally will describe fees, compensation, and expenses in greater
detail. The investors of each Fund should refer to such Governing Documents of the applicable
Fund for a complete understanding of how Broadwing is compensated for its Advisory Services.

How Broadwing is Paid

Commencing as of each Initial Closing, in the case of a limited partner designated in writing by the
General Partner (each a “Special Fee Partner”) and any other member or limited partners of the Fund(s)
(each a “Limited Partner,” and collectively, the “Limited Partners”), Broadwing currently receives a
fixed fee, which in certain instances, may be the sum of a certain percentage, per annum, paid quarterly
in advance, and calculated based on the aggregate capital commitments of all Limited Partners and/or
the cost basis for the investments held by the Client (if applicable) (the “Management Fee”); provided,
however, that the Management Fee varies among Clients, and thus, Broadwing and/or the General
Partner, in its sole discretion, has the right or waive, reduce, modify, or agree to more favorable
economic terms, at any time and form time to time, all or part of the Management Fee or any fee that
is paid with respect to one or more Special Fee Partner or a Limited Partner with regards to the
Advisory Services provided thereto. Each investor or prospective investor of a Fund is encouraged
to review the Governing Documents for the full details pertaining to the Management Fees and the

calculation methods applied thereto.

Additionally, Broadwing may receive additional compensation (the “SPV Fees”) in connection with
managerial, due diligence and advisory services (the “SPV Services”) provided by Broadwing on
behalf of each SPV. The terms and conditions governing the SPV Fees and the related SPV Services
may vary among SPVs, and thus, are further described in the respective management services
agreement (or similar agreement) by and between Broadwing and each SPV (the “MSA”). Investors
of an SPV are encouraged to review the MSA and/or Governing Documents for the full details
pertaining to the SPV Fees and related SPV Services.

Transaction Fees

Broadwing and the General Partner (or an affiliate thereof) may from time to time receive certain
transaction fees, investment banking fees, break-up fees, advisory fees, monitoring fees, directors’
fees and other similar fees in connection with the consummation, holding or disposition of
investments by the Clients, proposed opportunities for new pooled investment vehicles, or the
termination of a proposed but unconsummated investment by the Clients (collectively, the
“Transaction Fees”).

The obligation to pay the Management Fee may be offset by any Fee Income received by
Broadwing, and in some instances, up to 100%, as set forth in the Governing Documents. The
Fund(s) share of any of the Transaction Fees shall be allocated among the Limited Partners in
proportion to their relative sharing percentages in the Fund with respect to which such Transaction
Fees are attributable, and the amount so allocated to each Limited Partner may be credited against
the Management Fees payable with respect to such Limited Partner.

Carried Interest

Subject to the terms and conditions set forth in Governing Documents, the General Partner or an
affiliate of Broadwing is generally entitled to receive an incentive distribution of twenty percent
(20%) (and sometimes more and sometimes less, depending on the fee structure of which may
vary among the Funds) of distributable cash (“Carried Interest”). The Carried Interest distribution
may be subject to Limited Partners receiving a return of all funded capital contributions and a
preferred cumulative, non-compounding, annual percentage return on such funded capital
contributions (the “Preferred Return”).

Distributions may consist of cash, securities or other assets of the Fund; provided that, prior to the
dissolution of the Fund, distributions to the Limited Partners will only be in the form of cash or
marketable securities except for: (i) distributions that the General Partner has offered to Limited
Partners with regards to such Limited Partner’s right to receive in the form of net proceeds, if any;
or (ii) distributions made with the consent of the General Partner or any Advisory Committee
established by the Fund under the Governing Documents. Each Fund is expected to make cash
distributions to the General Partner in an amount sufficient to pay the General Partner’s expenses
and income taxes on income allocated to the General Partner for tax purposes on account of its
Carried Interest, as described in the Governing Documents.

The General Partner, in its sole discretion, has designated and may in the future designate certain third
parties that are exempted from all or some portion of the Carried Interest.

Other Fees and Expenses

Broadwing shall be responsible for all routine costs and expenses incurred in providing for its
normal operating overhead, including but not limited to, compensation for its staff and employees,
the cost of providing relevant support and general services (i.e., office rental, secretarial, clerical
and bookkeeping expenses), and such other normal operating expenses.

The Fund(s) and their Limited Partners shall bear responsibility for all: (i) organizational expenses,
including but not limited to any and all cost, expenses, fees and liabilities incurred in connection
with the formation and organization of, or sale of interests in the Fund(s), any feeder fund(s) or
any Parallel Fund(s), as determined by the respective General Partner in its discretion, including
any placement fees and all out-of-pocket legal, accounting, printing, electronic database, travel
and filing fees and expenses (collectively, the “Organizational Expenses”), provided that, the
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Item 7: Types of Clients

Broadwing will provide Advisory Services to the Fund(s), which are its only Clients. Interests in
the Fund(s) are offered privately in accordance with exemption provisions provided generally
under the Investment Company Act to a limited number of sophisticated investors, including
institutional investors and individuals who qualify to invest in the Fund(s) because they have
sufficient income and/or net worth.

Broadwing typically imposes a minimum investment requirement in connection with investing in
a Fund. This minimum investment requirement is described in the Fund’s Governing Documents,
and may vary as it may be dependent on various factors, including the size of the Fund, among
other factors. Investment minimums may be waived at the discretion of the General Partner.