Constitution Capital Equity Partners LP

Item 5.    Fees and Compensation

Adviser or its affiliates generally receive Advisory Fees (as defined below “Advisory Fees”) and
Incentive Allocation (as defined in Item 6 below “Incentive Allocation”) or similar performance-
based remuneration from a Client. A Client, and/or its portfolio investments typically reimburses
Adviser and its affiliates for certain expenses and/or make other payments to Adviser or its
affiliates for services provided to the portfolio investments which, in certain circumstances, may
reduce the Advisory Fees payable to Adviser. Additionally, consistent with the Organizational
Documents of a Client, the Client typically bears certain out-of-pocket expenses incurred by
Adviser in connection with the services provided to the Client and/or the portfolio investments.
Further details about certain common fees and expenses are set forth below.

Advisory Fees

As compensation for investment supervisory services rendered to the Clients, Adviser receives
from each such Client an advisory fee (each, an “Advisory Fee,” collectively “Advisory Fees”).
With respect to the Separate Account, Partnership Funds and Co-Investment Funds, Advisory Fees
are typically calculated based on committed capital, or remaining invested capital, with respect to
such Client. With respect to the Opportunities Funds, Advisory Fees are typically calculated based
on invested capital with respect to such Fund. Advisory Fees may be reduced during the life of a
Client. Advisory Fees paid by a Client may also be reduced by Other Fees (as defined below “Other
Fees”) or compensation received by Adviser or its affiliates that relate to such Client’s activities
and Investments, or by certain excess organizational or other expenses borne by such Client, as
described in more detail below. Advisory Fees paid by a Fund are indirectly borne by investors in
such Fund.

With respect to the Separate Account, Partnership Funds and Co-Investment Funds, on a date
specified in the Organizational Documents (the “Stepdown Date”), the Advisory Fee customarily
decreases and is thereafter calculated based on the amount of invested capital associated with the
Funds aggregate investment(s) in portfolio investments that remain unrealized or, subject to the
relevant Organizational Documents, have not been permanently written-off (such investments,
“Impaired Investments”). With respect to the Opportunities Funds during the life of such Fund,
the Advisory Fee is calculated based on the amount of invested capital associated with such Fund’s
aggregate investment(s) in portfolio investments that remain unrealized and are not Impaired
Investments. Because Advisory Fees are calculated based on invested capital following the
Stepdown Date for the Separate Account, Partnership Funds and Co-Investment Funds and based
on invested capital for the Opportunities Funds, the Organizational Documents do not require any
reduction or refund of Advisory Fees following a write-off, or a decrease (including a significant
decrease) in fair value, except with respect to investments that meet the applicable Impaired
Investment standard under the relevant Organizational Documents. Similarly, if the fair value of
an investment exceeds the aggregate investment contributions for that investment, Advisory Fees
payable after the Stepdown Date by the Separate Account, Partnership Funds and Co-Investment
Funds and payable by the Opportunities Funds are not computed on the appreciated value and
instead continue to be determined by the amount of such investment contributions. As a result, the
Advisory Fees generally will not track changes in the fair value of any individual investment or of
a Fund, including after the applicable investment period (if any), and will not be decreased to

reflect write-downs (whether temporary or permanent), except with respect to Impaired
Investments.

In addition, the Organizational Documents do not always require any reduction or refund of
Advisory Fees, in whole or in part, in connection with partial sales or dispositions, distributions
(including those arising from dividend recapitalizations), reorganizations, restructurings, roll-over
investments, extraordinary dividends or similar transactions, or where one or more other Fund(s)
exit their investment(s) (including credit investments) in the relevant Investment, whether in whole
or in part, in each case where such events do not result in a complete disposition of the relevant
Fund’s interest, and even where the value of the Fund’s investment or the Fund’s ownership
percentage has been reduced (including materially reduced) as a result. In many cases, the post-
Stepdown Date Advisory Fee base for the Separate Account, Partnership Funds and Co-Investment
Funds and the Advisory Fee base for the Opportunities Funds will include capitalized, transaction-
specific fees and expenses of unrealized investments, including certain fees (such as Other Fees)
and expenses paid to third parties or their affiliates. In addition, the Organizational Documents
generally do not provide for the reimbursement or refund of Advisory Fees in the event of
realizations, dispositions, or partial write-downs or write-offs occurring mid–calculation period.

To the extent Advisory Fees are payable, such fees are generally payable quarterly in advance and
are calculated as of the first day of the investment period and are not subject to adjustment during
such period.

The precise amount of, and the manner and calculation of, the Advisory Fees for each Client are
established by Adviser, as modified by negotiations with investors in the applicable Client and are
set forth in such Client’s Advisory Agreement and/or Organizational Documents received by each
investor prior to investment in such Client. The Advisory Fees and Other Fees and distributions
described above are generally subject to waiver, modification, or reduction by Adviser in its sole
...

Item 7.    Types of Clients

Adviser provides investment supervisory services to the Funds, most of which are structured as
Delaware limited partnerships while others are exempted limited partnerships organized under the
laws of the Cayman Islands.

Investment advice is provided directly to the Funds (subject to the direction and control of the
General Partner of each such Fund, if applicable) and not individually to investors in such Fund.

Interests in the Funds are offered pursuant to applicable exemptions from registration under the
Securities Act and the 1940 Act. Investors in the Funds are generally “Accredited Investors” and/or
“Qualified Purchasers” as defined in the 1940 Act, and may include, among others, high net worth
individuals, banks, thrift institutions, pension and profit-sharing plans, trusts, estates, charitable
organizations, university endowments, corporations, limited partnerships and limited liability
companies or other entities.

The Fund’s typically have a minimum required investment, but minimum investment
commitments may be established for the investors in the Funds. The General Partner of each Fund
may in its sole discretion permit investments below the minimum amounts set forth in the
Organizational Documents of such Fund.

Adviser also provide investment supervisory services to the Separate Accounts. Adviser also
provides investment advisory services for whom Adviser does not have regulatory assets under
management.