CAVU Consumer Partners LLC

Item 5: Fees and Compensation

   A. Advisory Fees and Compensation

It is critical that Investors refer to the Governing Documents for a complete understanding of how
advisory fees are paid to CAVU. The information contained herein is a summary only and is qualified
in its entirety by such documents.

Management Fees: CAVU receives compensation for the provision of investment advisory services
to the Funds in the form of Management Fees. Typically, Management Fees will vary by Fund, but
are calculated based on committed capital and subject to various offset or other provisions within the
applicable Fund Governing Documents. The precise amount of, and the manner and calculation of,
the Management Fees for each Fund are established by CAVU and are set forth in such Fund’s
Governing Documents received by each Investor prior to investment in such Fund. The fee structures
described herein may be modified from time to time. CAVU, in its sole discretion, may modify, reduce
or waive any Management Fee at any time, including during any wind-down of a Fund’s business.

Carried Interest: A portion of the profits of each Fund is distributed to its General Partner, if any,
as “carried interest” (the “Carried Interest”) generally related to, and based on, the investment
performance of such Fund. The allocation of Carried Interest is dependent on meeting certain criteria
defined in accordance with the Governing Documents of the specific Fund.

With respect to the SPVs, CAVU is generally not compensated through a Management Fee but on
occasion will be eligible to receive Carried Interest. The terms of each co-investment opportunity are
negotiated on a case-by-case basis and Investors should review the terms in the relevant Governing
Documents prior to investing.

   B. Payment of Fees

Pursuant to the terms of the various Governing Documents, CAVU deducts advisory fees from Client
assets as follows:

   •   Management Fees are calculated on the first day of the fiscal quarter, payable in advance of
       the applicable quarter.

    •   Carried Interest paid by a Client is typically based on profits realized from such Client’s
        investments. Carried Interest, if applicable is earned and payable in accordance with the terms
        set out in the applicable Governing Documents for the relevant Client.

Certain affiliated persons of CAVU that participate in the Funds or SPVs are not charged advisory
fees as described above.

    C. Other Advisory Client Fees and Expenses

To the extent provided in the Governing Documents of a Client, the Adviser will bear all normal
operating expenses incurred in connection with the management of such Client, which generally shall
include, without limitation, expenditures on account of salaries, wages and other expenses of
employees of the Adviser, rentals payable for space used by the Adviser or the General Partners,
utilities, office supplies and equipment.

To the extent set forth in a Client’s Governing Documents, such Client shall bear all costs and
expenses incurred in the sourcing, investigation, holding, purchase, monitoring, sale or exchange of
securities (whether or not ultimately consummated), including, but not by way of limitation, private
placement fees, finder’s fees, interest on and fees and expenses arising out of borrowed money, real
property or personal property taxes on investments, including documentary, recording, stamp and
transfer taxes, brokerage fees or commissions or other similar charges (including any merger fees
payable to third parties), travel expenses directly associated with an existing or prospective portfolio
company investment (including prospective portfolio company investments that are not ultimately
consummated), legal fees and expenses, expenses incurred in connection with the investigation,
prosecution or defense of any claims by or against such Client, including claims by or against a
governmental authority, audit, appraisal and accounting fees and expenses, fees and expenses related
to consulting, advisory or professional services relating to investments or proposed investments, taxes
applicable to such Client on account of its operations, fees incurred in connection with the
maintenance of bank or custodian accounts, and all expenses incurred in connection with the
registration of such Client’s securities under applicable securities laws or regulations. To the extent set
forth in a Client’s Governing Documents, such Clients also bears any sales or other taxes, fees or
government charges which may be assessed against such Client, the cost of liability and other
premiums for insurance protecting such Client, the applicable General Partners, the partners or
members of the applicable General Partners, the Adviser, the members of the Adviser, the members
of such Client’s advisory committee (with respect to a Client, the “Advisory Committee”), the
members of a board of strategic advisors established by the applicable General Partner on behalf of
such Client (with respect to a Client, the “Board of Strategic Advisors”) and any of their respective
partners, members, shareholders, managers, managing partners, officers, directors, trustees,
employees, consultants, agents or affiliates in connection with the activities of such Client or loss of a
managing partner of such Client (with respect to a Client, a “Managing Partner”) (provided that such
Client is the beneficiary of such policy in respect of the loss of a Managing Partner), broken deal
expenses, all expenses incurred in connection with multimedia, analytical, database news or other third
party research services and related terminals for the delivery of such services; expenses associated with
Client communications with Investors, including preparation and distribution of financial statements
and annual or other reports to the Investors, expenses associated with preparation, filing and
...

Item 7: Types of Clients

CAVU provides investment advisory services to the Funds and SPVs as described in Item 4.
Investors in the Funds and SPVs must abide by the terms of their respective Governing
Documents, including executing a limited partnership agreement and/or operating agreement,
subscription agreement and/or other appropriate instruments, pursuant to which they agree to
be bound by the terms and provisions thereof.

Investment in a CAVU managed Fund or SPV requires that Investors meet certain eligibility and
sophistication requirements under federal securities laws.