Catterton Management Company LLC

Item 5. Fees and Compensation

        A.       Fees

Each of the L Catterton Funds is exempt from registration under the Investment Company Act of 1940, as
amended (“Company Act”). The securities of each of the L Catterton Funds are not registered under the
Securities Act of 1933, as amended, (“Securities Act”) and are offered only to qualified investors, typically
institutional investors and eligible high-net-worth individuals. As a result, this brochure will be delivered
only to “qualified purchasers” and “knowledgeable employees” as those terms are defined in the Company
Act.

The Funds pay L Catterton a management fee either directly or indirectly. The precise amount of, and the
manner and calculation of, the management fees for each Fund are established by L Catterton through
negotiations with investors in the applicable Fund and are set forth in the Organizational Documents for
each Fund. The amount of the management fees for each Fund (other than the Credit Fund) are typically
reduced following expiration of each Fund’s commitment period, in the event a successor fund is closed
and starts to accrue management fees or under other circumstances set forth in the Organizational
Documents for each Fund. Management fees are payable quarterly in advance and are paid by capital
contributions from investors in each Fund made pursuant to capital call notices delivered by the general
partner of each Fund. Alternatively, management fees may be drawn from subscription facilities established
pursuant to borrowing provisions set forth in the Organizational Documents for each Fund (which facilities
are repaid by investors), and/or paid out of cash otherwise distributable to the investors, including when a
portfolio investment of a Fund is sold and the proceeds are distributed to investors. Upon termination of
the Management Agreement with any L Catterton Fund, we will return to such Fund’s investors any paid
but unearned portion of the management fee. In general, such fees are pro-rated from the date of termination
to the end of the period to which the advance fee applied. Management fees are otherwise generally subject
to waiver or reduction by L Catterton in its sole discretion. The provisions of the Organizational Documents
for each Fund allow L Catterton to collect management fees from a limited partner that has defaulted on its
capital commitment even after such limited partner has committed such default.

The amount of the management fee payable is offset against a portion of certain other fees received by L
Catterton net of unreimbursed expenses, regardless of whether the unreimbursed expenses were incurred in
connection with activities for which the fees were received (“Management Fee Offset”), each of which are
described more fully below. Each Management Fee Offset results in a reduction of the management fee
payable by an investor in a Fund. The portion of other fees received by L Catterton and the types of other
fees received by L Catterton that reduce the management fee payable by an investor varies across the L
Catterton Funds and is disclosed in and governed by, in each case, the Organizational Documents for each
Fund. Generally, under the Organizational Documents, the management fee will be calculated and charged
on a basis that is not tied to a Fund’s then-current net asset value. As further specified in the Organizational
Documents, management fees for a Fund (other than the Credit Fund) will initially generally be charged
based on a formula tied to the amount of the relevant Fund’s aggregate commitments. However, after a
certain date specified in the Organizational Documents, a Fund’s management fee generally will be charged
and calculated based on a formula tied to the amount of invested capital or the cost basis of the investments
made by the Fund that are not realized or completely written-off (including, where applicable, bridge
financing contributions, a Fund’s borrowing component (including interest expenses) and the amount of
any Capitalized Activity-Based Fees (as defined below)). In comparison, management fees for the Credit
Fund will generally be charged based on a formula tied to net invested capital without any step-down as set
out in the Organizational Documents for the Credit Fund.

As a result, the amount of management fees will not correspond with fluctuations in a Fund’s net asset
value or the net asset value of individual investments, including where the fair market value of an

investment exceeds or falls below the total amount of contributed capital or the cost basis relating to such
investment. Therefore, the management fee will not be reduced in connection with any partial sales or
dispositions, distributions, partial realizations, reorganizations, recapitalizations (including
recapitalizations involving dividends), roll-over investments in connection with a sale or dividend
distribution, extraordinary dividends or similar transactions and write-downs, in each case in circumstances
that do not result in the complete disposition of the relevant Fund’s interest therein, except as required by
the Organizational Documents, which set forth the full list of terms under which a Fund’s management fee
will be reduced, offset or otherwise be limited, including in the event of a write off of a portfolio investment
for tax purposes.

Furthermore, at such times during the life of a Fund when management fees are calculated based upon
capital invested by such Fund, to the extent any transaction-specific expenses, fees, compensation or other
similar payments (including Activity-Based Fees paid to L Catterton or any affiliate thereof) in respect of
any unrealized investment are directly or indirectly, in whole or in part, capitalized (in connection with the
initial investment or any follow-on investment and irrespective of the time such investment(s) are made and
the time such compensation or other similar payments are paid) into the purchase price paid in respect of
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Item 7. Types of Clients

CMC and CLAM provide investment advice solely to the L Catterton Funds. Investment advice is provided
directly to the L Catterton Funds and not individually to investors in any such Fund.

Each of the L Catterton Funds is exempt from registration under the Company Act. The securities of each
of the Funds are not registered under the Securities Act and are offered only to qualified purchasers as
defined in the Company Act, and include, among others, institutional investors and eligible high-net-worth
individuals. We have also offered the opportunity to invest in the L Catterton Funds to our personnel that
qualify as knowledgeable employees as defined in Rule 3c-5 of the Company Act and to certain other
qualified institutions or individuals, including consultants, advisers, value-added resources to the Funds and
LCML, CMC, CLAM or their affiliates, personal references, family members and personal friends of
personnel of L Catterton or its affiliates and former employees that have left L Catterton in good standing,
and any trust, estate and family investment vehicle, wealth planning vehicle and other investment vehicle
associated with any of the foregoing persons, each of which, directly or indirectly, provide services to, or
assist with the provision of services provided by LCML, CMC, CLAM, Vault or their affiliates to the L
Catterton Funds and, in each case, where otherwise eligible to invest in a Fund. We expect to continue
these practices in connection with any new Funds.

We typically impose a minimum investment in connection with participating in an L Catterton Fund
although these minimums generally may be (and have been in the past) waived in our sole discretion.