Brookfield BHS Advisors LLC

Item 5 – Fees and Compensation

In lieu of charging a management fee, investors in the existing Private Funds bear all
overhead expenses of BHS, in addition to traditional fund expenses such as trading
commissions, fees of service providers, fund organizational and operational expenses and
other investment related expenses (the “Full Pass-Through” arrangement). Such overhead
expenses include, but are not limited to, employee-related expenses, including base
compensation, salaries, bonuses; facilities and overhead expenses, including rent for office
space; expenses related to information technology, such as hardware, software, supplies and
services; communications expenses; marketing and investor relations expenses, and travel
expenses. In addition, BHS charges investors in the existing Private Funds a performance fee,
the rate of which varies depending on the class of interests subscribed for. The fees and
expenses of the Private Funds are described in detail in their respective offering and other
constituent documentation.

In the future, if BHS launches additional Client Accounts, the fees and expenses of such
products will be described in the offering and constituent documentation of such products.
BHS may, in its discretion, manage certain Client Accounts with higher or lower fees,
different fee structures, and different expense payment arrangements, than those of other
Client Accounts and Affiliated Client Accounts.

The specific manner in which fees and expenses may be charged by BHS will be established
in each Client Account’s offering documents or other definitive documentation entered into
with a client (“Offering Documents”).

Fees may be subject to negotiation and may vary from time-to-time based upon numerous
factors such as mandate size, types of securities held and portfolio customization.
Additionally, BHS has discretion to waive or reduce fees with respect to certain clients.

Brookfield, its related persons and their respective employees are paying reduced or no fees
with respect to their investment in the existing Private Funds and may receive discounts on
any advisory, performance and other fees in connection with their investment in future
Private Funds. At times, Brookfield, its related persons, as well as their current and former
employees, may provide the initial seed capital to fund new products or Private Funds and
may invest on preferential terms in addition to paying reduced or no fees. Such Brookfield
parties have provided initial seed capital to the current Private Funds managed by BHS and,
in certain cases, have invested on different liquidity terms than other investors in such
Private Funds, as described in the applicable Offering Documents.

In light of the Full Pass-Through structure for each existing Private Fund, certain expenses
that benefit both funds (e.g., overhead expenses of BHS) are shared and allocated to each
such Private Fund in accordance with BHS’s expense allocation policies and procedures.
Generally, shared expenses will be allocated on a pro rata basis according to the respective
assets under management of each applicable Client Account, but a particular shared expense
may be allocated differently if BHS determines in its discretion that it would be fair and
reasonable to do so under the circumstances. In considering whether to allocate a shared
expense to certain Client Accounts individually or on a pro rata basis among all Client
Accounts, or split among BHS and one or more Client Account(s), BHS will consider factors
such as whether the governing documents of each Client Account permit such expense to be
charged to the Client Account, the resource(s) and/or service(s) to which such shared
expense relates might ultimately directly or indirectly benefit one or more Client Accounts
other than the initial beneficiary/ies. Allocation decisions must be consistent with the
disclosures and terms of the governing documents of the impacted Client Accounts.

Certain shared expenses, including expenses for office space, services, personnel,
equipment and software, among other things, incurred by BHS in connection with the
provision of investment management, administrative or other services to Client Accounts
or otherwise in connection with the activities of BHS will generally be allocated among the
Client Accounts and the other recipients of the services that generate such items of shared
expense. BHS will seek to allocate such shared expenses fairly and equitably among the
Client Accounts and such other recipients based upon certain estimates and assumptions
that BHS believes are reasonable and appropriate, but which may be imprecise and may
result in the Client Accounts bearing a larger portion of such shared expenses than if they
were calculated in a different manner. In determining what shared expenses are allocable
to Client Accounts or otherwise in connection with the activities of BHS, the need to allocate
shared expenses may present a conflict. BHS will attempt to mitigate any such conflicts by
making allocations and other judgments on a basis that it believes to be fair and reasonable
under the circumstances, although it may not be possible to fully or partially mitigate each
such conflict. Assets of BHS, including, without limitation, intellectual property developed
in connection with services provided to the Client Accounts, may be utilized in the conduct
of other business activities in the sole discretion of BHS without compensation or
reimbursement to Client Accounts, including, without limitation, reimbursement of the
costs incurred in the development of such assets, but subject to the appropriate allocation
of ongoing expenses related to such utilization in accordance with BHS’ allocation policies
as in effect from time to time.

BHS will have discretion with respect to the selection of brokers, dealers and other
counterparties to the Client Accounts, and the amount of commissions or other
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Item 7 – Types of Clients

Currently, BHS only manages Private Funds. In the future, BHS may manage additional
Private Funds and Separate Accounts whose investors may include financial institutions,
public and private pension plans, insurance companies, fund of funds, family offices,
endowments and foundations, sovereign wealth funds, high net worth investors and other
investor types. Investor qualification and minimum investment amounts will be described
in the Offering Documents for each Client Account.