Champion Hill Labs LLC

Item 5 – Fees and Compensation

Management Fee

Typically, each Fund will pay the General Partner a management fee (the “Management Fee”) for
investment advisory services. Payments of the Management Fee shall be calculated and made quarterly in
advance on the first day of each January, April, July and October during the term of the Fund in an amount
equal to 25% of the annual Management Fee. In some instance the Firm will charge a one-time management
fee for investments made through a Series Fund structure. This fee is typically lower than the Management
Fee defined in the Fund documents.

Carried Interest

The General Partner is generally entitled to a 20% share of the profits and losses and distributions (“Carried
Interest”) of the Fund, as further described in the Fund’s Governing Documents. See Item 6 below for more
information about performance fees.

Fund Expenses

In addition to the Management Fee, the Fund will pay and bear all expenses related to its operations that
are not reimbursed by portfolio companies. Limited Partners will indirectly bear these expenses based on
their pro-rata commitments to the Fund. The amount of these Fund expenses will be substantial and will
reduce the actual returns realized by Limited Partners on their investment in the Fund (and may, in certain
circumstances, reduce the amount of capital available to be deployed by the Fund in investments). Fund
expenses include recurring and regular items, as well as extraordinary expenses for which it may be difficult
to budget or forecast. As a result, the amount of Fund expenses ultimately called or called at any one time
may exceed expectations. As described further in the Fund Agreement, Fund expenses encompass a broad
swath of expenses and include all expenses of operating the Fund, as well as placement fees and expenses.
Although the organizational costs and expenses are separately categorized and subject to a limit under the
Fund Agreement, with all organizational expenses in excess of the limit being borne by the General Partner,
there are ongoing Fund expenses to be borne by the Partners that are not classified as organizational
expenses, including costs that relate to organizational matters, such as costs and expenses of administering
side letters entered into with Limited Partners (including the process of distributing and implementing
applicable elections pursuant to any “most-favored-nations” clauses in side letters). Expenses to be borne
by the General Partner are limited to only those items specifically enumerated in Fund Governing
Documents (including salaries, rent and equipment expenses), and all other costs and expenses in operating
the Fund will be borne by the Limited Partners.

From time to time, the General Partner will be required to decide whether costs and expenses are to be
borne by the Fund, on the one hand, and other vehicles managed by the General Partner, on the other. The
General Partner will allocate such fees and expenses in proportion to the capital commitments to each such
entity, except to the extent that the General Partner determines, in its sole discretion, that a different method
of allocation is more appropriate. The allocation may not be proportional, as certain General Partner
managed vehicles have different expense reimbursement terms, including with respect to management fee
offsets.

Certain expenses are borne by the portfolio companies, or, if borne by the General Partner, are reimbursed
by the Fund and/or portfolio companies of the Fund, and in some cases the General Partner may not
necessarily seek the lowest cost options when incurring (or causing the Fund or its portfolio companies to
incur) such expenses.

In addition, the Fund may pay expenses common to multiple General Partner managed vehicles and be
reimbursed by the other General Partner managed vehicles for their share of the expenses, without interest.

The Fund and any parallel funds will incur costs and expenses associated with potential investments that
are not consummated. If any such deals were consummated, the Fund and the parallel funds may have
invested alongside third parties, including, without limitation, any co-investment entities sponsored or
managed by the General Partner or its Affiliates. For the avoidance of doubt, any costs incurred by the Fund
and any parallel funds in connection with unconsummated investments may be borne solely by the Fund
and such parallel funds in proportion to their commitments and may not be shared by any such potential
co-investors. The Fund and any parallel funds may bear all of such broken deal costs with respect to a
prospective investment in respect of which a co-investment opportunity was anticipated, irrespective of
whether a determination had been made as to the identity of any potential co-investors or the amount of the
anticipated co-investment opportunity prior to the time that it was determined that the prospective
investment would not be consummated.

Item 7 – Types of Clients

The Firm’s clients are the Funds, Alternative Investment Vehicles and Parallel Funds. Investors generally
include endowments, foundations, public and private pension plans, financial institutions and high net
worth individuals.