Cendana Capital Management LLC

ITEM 5 – FEES AND COMPENSATION

A. Advisory Fees and Compensation

Any new Fund launched by Cendana may have materially different terms than those summarized below.
The fees paid by the Funds are negotiable by Investors only prior to an investment in the Fund, at the
discretion of the applicable Affiliated Manager.

Cendana is generally compensated for its advisory services through asset-based management fees of 1% of
capital commitments of Investors during their respective investment periods. After the investment period,
the management fee may be reduced based on the terms of the applicable Governing Document. The
management fee is typically paid quarterly, in advance.

Cendana may negotiate management fees with Separate Account clients that differ from the asset-based
management fees listed above, including fixed based management fees.

In addition, as described in more detail in Item 6 below, each Fund’s Affiliated Manager generally receives
a performance allocation (commonly referred to as “Carried Interest”) in their respective Fund once all
capital contributions plus a preferred return, when applicable, have been returned to such Fund’s Investors
(pursuant to the terms in each Governing Document).

Fees applicable to Separate Accounts are generally separately negotiated and are detailed in their respective
Governing Documents.

B. Payment of Fees
Management fees are generally directly deducted from a Client’s assets quarterly, in advanceti.
Performance-based compensation described in Item 6 below is paid to the relevant Affiliated Manager when
earned. Clients generally do not have the ability to choose to be billed directly for fees incurred.

C. Other Client Fees and Expenses

As set forth in their respective Governing Documents, each Fund shall bear all costs and expenses incurred
in the sourcing, investigation, purchase, holding, monitoring, sale or exchange of securities including, but
not limited to, 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, legal fees and expenses, expenses
incurred in connection with the investigation, prosecution or defense of any claims by or against a Fund,
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 a Fund 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 a Fund’s securities under applicable securities laws or regulations. Each Fund shall also bear
any sales or other taxes, fees or government charges which may be assessed against the Fund, the cost of
liability and other premiums for insurance protecting the Fund, Cendana, the applicable Affiliated
Manager(s), members of the advisory committee, and any of their affiliates in connection with the activities
of the Fund or the loss of a managing director, expenses associated with communications with Investors,
including preparation and distribution of financial statements and annual or other reports, expenses
associated with preparation and filing of tax returns, costs associated with Fund meetings or LPAC matters,
expenses of the members of the advisory committee (including travel-related costs and expenses), all legal,
accounting, audit, appraisal, consulting, advisory, bookkeeping, recordkeeping or professional services fees
and expenses relating to the Fund and its activities, fees and expenses relating to outsourced finance,
reporting, administration, accounting and back-office services, fees and expenses relating to the regulatory
compliance of Cendana and its affiliates, all expenses incurred by the tax matters partner of the Fund, all

fees and expenses incurred in connection with the maintenance of a registered agent and office in the State
of Delaware, all fees, costs and expenses relating to litigation and threatened litigation involving the Fund,
including any indemnification obligation, liquidation expenses of the Fund (including but not limited to
legal and accounting fees and expenses), all expenses that are not normal operating expenses and all other
expenses properly chargeable to the activities of the Fund. Each Fund will bear its and the relevant Affiliated
Manager’s organizational expenses, up to a maximum amount equal to the amount detailed in the applicable
Governing Document.

Cendana and its personnel can be expected to receive certain intangible and/or other benefits and/or
perquisites arising or resulting from their activities on behalf of Clients that will neither be subject to an
offset against any management fees payable to a Client nor will otherwise be shared with Clients and/or
Portfolio Companies. For example, airline travel or hotel stays incurred as Fund or account expenses
typically result in cash rebates, “miles,” “points” or credit in loyalty/status programs, and such benefits
and/or amounts will, whether or not de minimis or difficult to value, inure exclusively to Cendana and/or
such personnel (and not the Funds and/or Portfolio Companies) even though the cost of the underlying
service is borne by the Funds and/or Portfolio Companies.

The Separate Accounts’ expenses are detailed in their respective Governing Documents.

The above is a general description, and expenses may vary between Clients. Investors are encouraged to
refer to their applicable Governing Documents.

We believe transparency is an important element of a strong relationship with our Investors. Although Fund
expenses are detailed in the annual financial statements under certain general categories, to provide
additional transparency, we have provided a summary of additional expenses below.

    Allocation of Expenses
...

ITEM 7 – TYPES OF CLIENTS

Cendana provides investment advisory services to Clients, described in Item 4, above. Clients invest capital
contributed to them by Investors that are accredited investors (as defined in Regulation D under the
Securities Act of 1933), qualified clients (as defined in Rule 205-3 of the Investment Advisers Act of 1940
(the “Advisers Act”)), and qualified purchasers (as defined in Section 2(a)(51)(A) of the Investment
Company Act of 1940).

Separate Account investors may include high net worth individuals, institutions, trusts, endowments, and
pension plans.

Any new Fund launched by Cendana may have different terms than those summarized above.