Develop Capital Partners LP

Item 5 – Fees and Compensation

 The Firm receives a monthly advisory fee as outlined in each Client’s Governing Documents.
 Fees are negotiated individually and may vary; the Firm does not maintain a standard fee
 schedule.
 Invoices are issued by the Firm and are payable according to the terms specified in the
 Governing Documents.
 In addition, the Firm may earn a performance-based fee, as described in the Governing
Documents. This fee is generally calculated based on cash distributions from investments and
is generally paid at the time of distribution.
 The Firm is also reimbursed for reasonable expenses incurred in providing due diligence
 consulting services, as permitted by the Governing Documents. The Firm does not directly
 debit Client accounts for these reimbursements.

Item 7 – Types of Clients

The Firm provides non-discretionary investment due diligence consulting services
exclusively to a single Client, which is a charitable foundation. The Firm does not currently
provide advisory services to any other types of clients.

There are no minimum account size or other requirements for opening or maintaining an
advisory relationship with the Firm at this time.