DFW Capital Management LLC

Item 5 Fees and Compensation
Management Fees: Except as described below, DFW charges an asset-based management fee
based on the capital committed to a Fund during the commitment period (the “Management Fee”). The
Management Fee is payable quarterly in advance and is deducted from each Fund account. At the end
of the commitment period, the Management Fee is charged on capital contributions invested in
Portfolio Investments as of the end of the immediately preceding quarterly period. The Management
Fee, if applicable, is reduced by 80% of any fees DFW received from Portfolio Investments in the prior
quarter. DFW fees are more fully detailed in each Fund's Governing Documents. Except as otherwise
agreed, the General Partner and Limited Partners or Members who are affiliates, employees, or other
designees of the General Partner, will not be subject to the Management Fee. The General Partner is
permitted at any time to elect to defer payment to DFW of all or any part of any installment of, or to

otherwise accrue, the Management Fee. For avoidance of doubt, the General Partner is not
considered a Limited Partner.

Limited Partners of DFW Capital Partners IV Continuation, L.P. (the "Continuation Fund"), who rolled
all or part of their interest into the Continuation Fund from DFW Capital Partners IV, L.P. ("Rolling
Limited Partners") pay a Management Fee based on (i) a percentage per annum, payable quarterly in
advance, of the capital contributions used to pay the original acquisition costs of the Portfolio
Investments transferred into the Continuation Fund and (ii) a percentage of capital contributions used
by the Continuation Fund to make follow-on investments. New Limited Partners into the Continuation
Fund ("New Limited Partners") pay a Management Fee based on a percentage per annum of the
capital contributions used to pay the redemption consideration to Limited Partners that opted to sell
their interest in the Continuation Fund and capital contributions to make follow-on investments of each
New Limited Partner in the Continuation Fund as of the relevant payment date. The quarterly
Management Fee, if applicable, is reduced by 80% of any fees DFW received from Portfolio
Investments in the prior quarter and 100% of placement fees. DFW fees are more fully detailed in the
Continuation Fund’s Governing Documents.

Limited Partners of DFW VI Co-Invest (A), L.P. (the “Co-Invest Fund”), pay a Management Fee, paid
annually in arrears (the “Payment Period”), based on a percentage of the aggregate capital
contribution used to pay the acquisition costs of, and remain invested in, Portfolio Investments,
determined by taking the average of the contributions at the beginning and end of each month that
occurs during the Payment Period. The annual Management Fee, if applicable, is reduced by 80% of
any fees DFW received from Portfolio Investments during the payment period. DFW fees are more fully
detailed in the Co-Invest Fund’s Governing Documents.

Members of NARS Recap Investors, LLC (NARS Recap”) do not pay a Management Fee.

Distributions: With the exceptions of the Continuation Fund, the Co-Invest Fund, DFW Capital
Partners VII, L.P. (“DFW VII”), DFW Capital Partners VIII, L.P. (“DFW VIII”) and NARS Recap, upon
the disposition of a Portfolio Investment, receipt of distributions, in-kind securities, dividends, interest or
other income (collectively, “Distributable Cash”), will be distributed to the General Partner and Limited
Partners on a pro-rata basis. The Distributable Cash allocated to a Limited Partner will first reimburse
the Limited Partner up to 100% of their aggregate capital contributions related to the partner’s
investment in the Fund, plus a preferred return of 8% per annum, compounded annually on aggregate
capital contributions related to the Limited Partner’s investment in the Fund. The General Partner then
receives a distribution up to an amount that would provide for the General Partner to have received
20% of distributions in excess of the aggregate capital contributed by the Limited Partner including the
amount being distributed to the General Partner. All remaining Distributable Cash attributable to the
Limited Partner will be distributed 80% to the Limited Partner and 20% to the General Partner.
Distributions are more fully detailed in each Fund’s Governing Documents.

With respect to the Continuation Fund, any distribution from the Continuation Fund of Distributable
Cash attributable to all or any part of a Portfolio Investment shall initially be apportioned among the
Rolling Limited Partners, New Limited Partners, and General Partner in proportion to their capital
contribution percentage with respect to that Portfolio Investment. Distributable Cash attributable to a
follow-on investment shall be distributed to a Rolling Limited Partner and the General Partner
according to the schedule provided in the Governing Documents of the Continuation Fund applicable
to Rolling Limited Partners. Distributable Cash allocated to a New Limited Partner for Portfolio
Investments shall be further allocated between the New Limited Partner and the General Partner
according to the schedule provided in the Partnership Agreement of the Continuation Fund applicable
to New Limited Partners.

With respect to the Co-Invest Fund, any distribution from the Co-Invest Fund of Distributable Cash
attributable to all or any part of a Portfolio Investment shall initially be apportioned to the Limited
Partners in proportion their capital contribution percentage of that Portfolio Investment. Distributions
shall be further allocated according to the schedule provided in the Governing Documents of the Co-
Invest Fund.

With respect to DFW VII and DFW VIII, Distributable Cash will be distributed to all Partners on a pro-
rata basis. The Distributable Cash apportioned to a Limited Partner will first reimburse the Limited
Partner up to 100% of the amount contributed to acquire the Portfolio Investments that have been
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Item 7 Types of Clients
DFW provides investment management services primarily to pooled investment vehicles that are
structured as private equity funds, each of which operates as an exempt investment company under
the Investment Company Act of 1940, as amended.

DFW reserves the right to accept any size commitment but typically shows a minimum investment in its
marketing documents. Investors typically include institutional investors, fund of funds, pension plans,
money managers, foundations, insurance companies and high net worth individuals.