Cressey & Company LP

Fees and Compensation - Item 5

Registrant’s Fees and Compensation - Item 5.A

C&C provides advisory services for a percentage of each Fund’s committed capital or net asset
value (the “Advisory Fee”). Advisory Fee terms differ among the Funds and are set forth in each
Fund’s Governing Documents. In general, a Fund will pay C&C an Advisory Fee calculated as a
specified percentage (e.g., 2% for Fund VII) of aggregate capital commitments. Investors
participating in a closing after the effective date of the Fund will bear the Advisory Fee from the
effective date, generally in addition to an interest component payable to C&C or an affiliate.
Following the earlier to occur of the date the investment period expires and the date 12 months
after C&C or its affiliates begin receiving Advisory Fees from a successor fund, the Advisory Fee
generally will be reduced and equal the lesser of 2% of (i) the Fund’s net asset value (with such
valuations and calculations determined in accordance with the Fund’s Governing Documents), and
(ii) a specified percentage of aggregate commitments that reduces in accordance with the Fund’s
Governing Documents on an annual basis. Advisory Fees will generally be reduced during the life
of a Fund upon the occurrence of certain events set forth in the Governing Documents. Advisory
Fees paid by a Fund also generally are offset by certain other fees or compensation received by
C&C or its affiliates that relate to such Fund’s activities and investments, or by certain
organizational or other expenses borne by such Fund, as described in more detail in such Fund’s
Governing Documents and below. Where the Fund’s Governing Documents calculate Advisory
Fees based on the amount of capital commitments or investment contributions, the amount of
Advisory Fees generally will not be reduced based on reductions in investment value, except where
specified by the relevant Fund’s Governing Documents. As a general matter, Advisory Fees will be
payable during term extensions unless otherwise agreed with investors. The investments made by
C&C on behalf of its Funds typically are subject to a sharing of profits known as a “Carried
Interest,” which is a percentage of a Fund’s investment income and net realized gains, subject to
various conditions. (Please see Item 6 below for additional information.)

The Advisory Fees paid by a Fund will generally be reduced by a percentage of: (1) the
organizational fees and expenses incurred by C&C in connection with the organization of such
Fund that exceed a limit specified in such Fund’s Governing Documents and/or (2) such Fund’s
share of certain Other Fees (as defined below) received by C&C or its affiliates (but not including
any amounts received by Special Consultants (as defined below) as described below). The terms of
Advisory Fee offsets differ among the Funds, and the amount and manner of such reduction, if any,
is set forth in the Governing Documents of the applicable Fund. To the extent a reduction relates to
more than one Fund, C&C typically allocates the resulting Advisory Fee reduction among the
applicable Fund(s) in proportion to the cost of securities held (or committed to be held) in the
portfolio company or prospective portfolio company, or in such other manner as determined by
C&C in its sole discretion (subject to the provisions of any applicable Governing Documents) and,
if such other manner is not pro rata, with the approval of the advisory committee(s) of the
applicable Fund(s).

C&C will typically perform transaction-related, financial advisory and other services for, and will
receive fees from, actual or prospective portfolio companies, or other investment vehicles of a
Fund, including fees in connection with administering and structuring investments in such portfolio
companies, mergers, acquisitions, add-on acquisitions, refinancings, public offerings, sales,
divestments or other dispositions and similar transactions (“Transaction Fees”). C&C is permitted
to retain such fees in certain limited circumstances as set forth in the relevant Fund’s Governing
Documents. As described above, C&C will reduce future Advisory Fees for a Fund by a specified
percentage of such Fund’s share of Other Fees (including Transaction Fees), in accordance with

                                                                               Cressey & Company LP Brochure
                                                                                          Date: March 31, 2026

such Fund’s Governing Documents. To the extent provided in the Governing Documents of the
Funds, C&C will pay out of Advisory Fees certain expenses and costs associated with the
performance of its services, including expenses on account of rent, utilities, office supplies, office
equipment and compensation and expenses of its partners, officers, directors and employees (other
than Carried Interest described in Item 6 below).

Additionally, a portfolio company will typically reimburse C&C for certain expenses, including,
without limitation, travel expenses, which may include expenses for private, chartered or first class
travel or the first class equivalent of private or chartered travel, entertainment expenses (including,
as applicable, closing dinners and mementos, cars and meals, social and entertainment events with
portfolio company management, customers, clients, borrowers, brokers and service providers),
expenses relating to training programs, meetings or other events (to the extent such programs,
meetings or events are attended by portfolio company personnel), expenses relating to hiring
portfolio company personnel (including background checks, recruiting and relocation expenses),
indemnification expenses, certain legal expenses and similar out-of-pocket expenses, as well as
consulting fees and other cash and non-cash compensation and expenses, incurred by C&C in
connection with its performance of services for such portfolio company; such reimbursements are
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Types of Clients - Item 7

C&C provides investment advice solely to its Fund clients, and references throughout this
brochure to “clients” and to C&C’s related duties to and practices on behalf of its clients and/or
investors should be construed accordingly. Investors in Funds generally will be required to satisfy
certain securities laws and other suitability requirements and to make a capital commitment or
investment of no less than a required minimum amount. The various requirements for investing in
a Fund are set forth in the respective Fund’s Governing Documents.

Methods of Analysis, Investment Strategies, and Risk of Loss - Item 8

Methods of Analysis and Investment Strategies
C&C invests using an approach called “target-partner-build.” This strategy entails targeting a
limited number of attractive segments, partnering with strong, well-positioned platform businesses,
and working closely with partner management teams to accelerate growth through a combination
of organic initiatives and acquisitions. There can be no assurance that the Funds will meet their
investment objectives or otherwise be able to successfully carry out their investment program, and
therefore, an investment with C&C should be undertaken only by investors whose financial
resources are sufficient to enable them to bear the loss of all or part of their investment. See
“Risks” below.

For more information regarding C&C’s investment strategies, please see the respective Fund’s
Governing Documents.

Risks

Descriptions of the risks associated with each investment and with C&C’s investment program are
described in detail in the respective Fund’s Governing Documents. Such risks include, but are not
limited to, the following:

                                                                      Cressey & Company LP Brochure
                                                                                 Date: March 31, 2026

•   Business Risks; Projections. A Fund’s investment portfolio is expected to consist
    primarily of securities issued by privately held companies, and operating results in a
    specified period will be difficult to predict. Such investments involve a high degree of
    business and financial risk that can result in substantial losses. The projected operating
    results of a company in which a Fund invests normally will be based primarily on
    financial projections prepared by each company’s management team. In all cases,
    projections are only estimates of future results that are based upon assumptions made
    at the time the projections are developed. There can be no assurance that the results set
    forth in the projections will be attained, and actual results may be significantly
    different from the projections. Also, general economic factors, which are not
    predictable, can have a material effect on the reliability of projections.

•   Future and Past Performance. The performance of the prior investments by members
    of the C&C investment team is not necessarily indicative of a Fund’s future results.
    While C&C intends for the Funds to make investments that have estimated returns
    commensurate with the expected risks undertaken, there can be no assurances that any
    targeted internal rate of return will be achieved. With respect to any of the Funds’
    investments, loss of principal will be possible. Unspecified Use of Proceeds. Investors
    must rely upon the ability of C&C to identify, structure, and implement investments
    consistent with a Fund’s investment objectives and policies. Investors in a Fund will
    not have an opportunity to evaluate for themselves the relevant economic, financial and
    other information regarding the investments in which the proceeds from drawdowns of
    capital commitments will be invested and, accordingly, will be dependent upon the
    judgment and ability of C&C in investing and managing the capital of a Fund.

•   Changes in Environment. A Fund’s investment program is intended to extend over a
    period of years, during which the business, economic, political, regulatory, and
    technology environment within which a Fund operates may undergo substantial
    changes. Interest rates, general levels of economic activity, the price of securities, and
    participation by other investors in the financial markets may affect the value and
    number of investments made by a Fund or considered for prospective investment.
    Instability in the securities markets may also increase the risks inherent in investments.
    Legal and regulatory changes could occur during the term of a Fund that may
    adversely affect a Fund.Investment in Junior Securities. The securities in which a Fund
    will invest are expected in some cases to be among the most junior in a portfolio
    company’s capital structure and, thus, subject to the greatest risk of loss. Generally,
    there will be no collateral to protect a Fund’s investment once made.Investments in
    Pass-Through Entities. As more and more businesses are organized as limited liability
    companies, it is expected that a Fund’s investment portfolio will include one or more
    such entities, which may be treated as “pass-through entities” for U.S. federal income
    tax purposes. A Fund’s investment in an entity which is treated as a pass-through
    entity could result in: (a) the generation of taxable income for C&C, a Fund and its
    investors, even though they will not necessarily receive the cash flow related to such
    taxable income, (b) the generation of additional unrelated business taxable income for
    tax- exempt investors that invest directly in a Fund, and (c) the treatment of a Fund
    (and therefore its investors, including investors that are domiciled outside the United
    States that invest directly in the Fund) as being engaged in the conduct of a United
    States trade or business.
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