Cultivation Capital LLC

Fees and Compensation

As compensation for investment advisory services rendered to the Funds, Cultivation Capital,
LLC receives from the Funds a management fee, as further described in the Funds’ offering
documents (the “Management Fee”) and as described generally below.

With respect to each limited partner in the Funds (each, a “Limited Partner”), CC will receive a
Management Fee that is calculated and paid quarterly in advance as of the close of business in
New York on the last Business Day (as defined in the Funds’ offering documents) of the
calendar quarter in an amount equal to a maximum of 2.00% per annum of the net asset value of
the Limited Partner’s closing Capital Account (as defined in the Funds’ offering documents)
balance for such quarter. The Management Fee is generally subject to waiver or reduction by CC
as the General Partner in their sole discretion. This fee structure may be modified from time to
time.

In addition to the 2.00% annual management fee, CC will also receive up to 20% of the profits as
a performance-based fee, above a 10% annual rate of return. The performance is only calculated
at the end of the holding period and at that time the performance-based fee will be paid before
the distributions to investors. The holding period is defined as the life of the Funds.
In addition, the Funds are responsible for all costs and expenses incurred in connection with its
offering and organization (including legal and accounting fees and expenses). The Funds also
will bear all of its operating expenses, including, without limitation, the Management Fee; fees
of the Funds’ independent auditors, accountants, administrator and custodial fees; fees for the
maintenance of the Funds’ books and accounts, including fees of any separate accountants
retained for the Funds; fees of the Funds’ legal counsel (including, without limitation, litigation
fees of the Funds); registration and licensing fees; fees, costs, and expenses related to the
sourcing, evaluation, purchasing, holding, and sale of investments; taxes (including withholding
and transfer taxes); preparation and distribution of Limited Partners’ reports and other
communications with Limited Partners and the public; expenses for ongoing Limited Partner
support, including, but not limited to, visits to Limited Partners and periodic meetings of one or
more of the Limited Partners; and professional fees of consultants incurred in connection with
the operations of the Funds; insurance costs; costs of Funds borrowing facilities, including
origination expense, legal and compliance fees, and interest; and other costs reasonably related to
the operation of the Funds.

Notwithstanding the foregoing, CC acting as investment adviser and General Partner may
negotiate or set a Management Fee different from the foregoing with respect to the Funds.
Additionally, please see Item 6 – Performance-Based Fees and Side-By-Side Management
below for information regarding the “Performance Allocation” that the Funds may pay.
When CC utilizes the services of broker-dealers for transaction-related services for the Funds,
the Funds will incur brokerage and other transaction costs. For additional information regarding
brokerage practices, please see Item 12 – Brokerage Practices below.

Form ADV, Part 2A, Item 6

          Performance-Based Fees and Side-By-Side Management

Cultivation Capital, LLC receives a performance-based fee in its role as General Partner because
a portion of the Funds’ net investment profit is allocated to the capital account of the General
Partner, a “Performance Allocation.” The Performance Allocation may differ among investors in
the Funds; however, CC will receive up to 20% carried interest performance-based fee above a
10% annual return, calculated and paid at the end of the holding period. The holding period is
defined as the life of the Funds.

While the Funds have a long-term investment strategy, potential investors should note that the
payment by the Funds of the Performance Allocation may nonetheless provide an incentive for
CC to make investments that are riskier or more speculative than would be the case in the
absence of such an arrangement. Generally, and except as may be otherwise set forth in the
limited partnership agreement of the Funds (the “Partnership Agreement”), this conflict is
mitigated by

(i) set procedures contained in the allocation provisions set forth in the Partnership Agreement;
and (ii) provisions and procedures set forth in CC’ Code of Ethics (“the Code”) requiring CC to
act in accordance with principles of honesty, good faith and fair dealing.
Please see Item 10 – Other Financial Industry Activities and Affiliations below for additional
information relating to how conflicts of interests are generally addressed by CC.

Form ADV, Part 2A, Item 7

Types of Clients

CC currently provides investment advisory services solely to the Funds. Investment advice is
provided directly to the Funds, through its role as investment adviser and General Partner, and
not individually to the Limited Partners of the Funds.

Interests in the Funds are offered pursuant to applicable exemptions from registration under the
Securities Act and the 1940 Act. Permitted investors in the Funds may include high net worth
individuals, banks, thrift institutions, pension and profit-sharing plans, trusts, estates, charitable
organizations and other business entities.

There is currently no minimum investment requirement. However, the General Partners of the
Funds, in their sole discretion, may permit or deny investments into the funds. In addition, legal
eligibility requirements must be met to invest in the Funds.

Form ADV, Part 2A, Item 8

      Methods of Analysis, Investment Strategies, and Risk of Loss