Crow Holdings Capital Partners LLC

ITEM 5: FEES AND COMPENSATION

FEE SCHEDULES

The fees and expenses applicable to or required to be borne by each Fund or client are set forth in detail in the applicable
offering, account and/or governing documents. A brief summary of our standard fees and expenses is set forth below.

Subject to the terms and conditions set forth in the applicable governing or account documents, we generally receive a
management fee, payable quarterly in advance, from each Fund in an amount equal to:

    •    during the investment period, a percentage (up to 1.5% per annum) of each limited partner’s aggregate capital
         commitment with respect to the Fund as a whole or a pool of assets in such Fund; and

    •    after the investment period (or after the date on which we are entitled to receive a management fee in respect of a
         successor fund, if applicable), a percentage (up to 1.5% per annum) of each limited partner’s invested capital in
         respect of investments (or a portion of such investments) that have not been the subject of a complete or partial
         disposition.

With respect to our credit venture Funds and clients, we generally are entitled to receive a management fee, payable in
advance, with respect to each investment equal to a percentage (up to 1.5% per annum) of the aggregate client commitments
invested in or reserved or committed for, such investment.

Subject to the terms and conditions set forth in the applicable governing and/or account documents, the Funds generally are
subject to a carried interest, incentive compensation, performance allocation or performance or incentive fee equal to a

percentage (up to 20%) of profits on distributions derived from the disposition of investments or the net profits allocable to
each investor during the applicable performance period (as applicable) (following the return of contributed capital and a
preferred rate of return on unreturned capital contributions to the investors).

While management fees and/or carried interest distributions with respect to the Funds and each investor are not generally
negotiable, a General Partner or Fund expects to enter into side letters or similar arrangements from time to time that reduce
or change fees in certain circumstances in accordance with the terms set forth in the applicable offering and governing
documents of such applicable Fund. Our fees with respect to a Fund or all or certain investors in such Fund are expected to
deviate, differ or vary from the standard fee schedule described in this brochure, and detailed information regarding such
fees will be set forth in the applicable governing and offering documents of such Fund. The fee arrangements with respect to
single investor Funds and separately managed accounts are individually negotiated with such clients.

Moreover, with respect to certain Funds, (i) investors who make large commitments receive a reduction in the management
fee percentage applicable to such investors, (ii) investors who make commitments to a Fund early in the fundraising process
(such as at the initial closing or prior to a certain date) receive a reduction in the management fee percentage applicable to
such investors or fee “holidays” or breaks for a certain period of time, and (iii) certain investors who made commitments to
a prior fund of a Fund or a prior joint venture receive a reduction in the management fee percentage applicable to such
investors in connection with investments in such Fund. In addition, we may from time to time in the future offer or provide
new or additional types of fee breaks, reductions or discounts with respect to certain Funds, clients, joint ventures or
investors.

Additionally, certain of our employees and advisors and former employees and advisors, employees and advisors and former
employees and advisors of related persons, and affiliates and/or other related parties and their affiliates are or may be subject
to or eligible for different, lower or no management fees and carried interests or incentive compensation in connection with
direct or indirect investments in a Fund or client (including indirect investments in a Fund through an employee investment
vehicle established by one of our affiliates).

Fund documents may provide for reduced carried interest, performance allocations or other fees in certain circumstances (as
set forth in the applicable governing and offering documents).

Subject to the terms and conditions set forth in the applicable governing, account and/or offering documents, we and/or our
affiliates receive or charge various other types and forms of compensation from or with respect to certain Funds, joint
ventures, clients, investors and/or investments, including, without limitation, (i) venture fees or other asset-based fees, (ii)
general contracting fees, (iii) development fees, (iv) construction services fees, (v) a promote, profits, or similar interest in
entities formed to hold or own real estate investments, (vi) administrative, administration and/or servicing fees, and/or (vii)
success fees upon realization of investments. With respect to our credit venture Funds and clients, we and our affiliates may
receive, charge and retain application/processing fees and monitoring fees from borrowers or sponsors of credit or debt
investments or loans or participations or preferred equity investments owned by such clients.

In connection with a portfolio investment, a Fund, client or a subsidiary thereof may enter into a transaction services
agreement with one or more of our affiliates, pursuant to which an affiliate provides transaction services with respect to such
portfolio investment, and such Fund or client or an applicable subsidiary thereof pays to such affiliate a development fee
equal to four percent (4.0%) (or such lesser or greater percentage or amount set forth in the applicable governing documents)
of the development costs of such portfolio investment.

DEDUCTION OR PAYMENT OF FEES
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TYPES OF CLIENTS

We provide advisory, management and other services to various types of clients including affiliated pooled investment
vehicles, real estate investment trusts, special purpose vehicles, joint venture entities, separately managed accounts and
other entities (including the Funds). We expect in the future to provide investment advisory, management and other services
to other types of clients or persons. As disclosed in this brochure, we or an affiliate provide, and expect in the future to
provide, certain non-advisory services (including asset management services) to various entities, persons and vehicles
(including advice or recommendations regarding investments that are not securities and various administrative and other
services).

ACCOUNT REQUIREMENTS

In general, the minimum initial capital contribution or capital commitment, as applicable, required for an investor in a Fund
is described in its applicable offering, governing and account documents. A General Partner or affiliate has accepted and may
accept lesser amounts in its discretion (subject to applicable law).

To invest in the Funds, each investor generally is required to be, among other things, an “accredited investor” and either a
“qualified purchaser” or “knowledgeable employee,” as each such term is defined in applicable U.S. securities laws. Investors
and prospective investors in each Fund should refer to the applicable offering and governing documents of such Fund for
complete information on the requirements for participation in such Fund.

We do not require or maintain any minimum or specific capital commitment or amount for separately managed accounts.