ECP Investment Advisors LLC

Item 5: Fees and Compensation

Compensation and Fees

The Adviser and its affiliate, Expedition Capital Advisors LLC, will typically receive from the Fund
an annual investment management fee generally equal to 1.5% of the total Fund capital invested in
and allocated to such Investment. The management fee for each Investment will be paid from the cash
flow attributable to such Investment or from capital contributions allocated to such Investment as
follows: (i) for the first year of such Investment (commencing on the first day of the first calendar
month following the acquisition of such Investment and ending 12 full calendar months thereafter),
quarterly in advance beginning on the first day of the first calendar month following the acquisition
of such Investment; and (ii) thereafter, quarterly on the first day of each calendar quarter. Under
certain circumstances modified fee arrangements are granted pursuant to side-letter agreements.

In addition to the management fee, Expedition Fund I GP LP, Expedition Fund II GP LP, and ExCap
Fund III GP LP (the “General Partner”), may be paid an acquisition fee, project level asset
management and construction fee on each Investment that is made. The General Partner will attempt
to have any acquisition fee, asset management or construction fee paid to the General Partner by the
Project Entity (as defined in the Fund’s Governing Documents). For Expedition Fund II GP LP and
ExCap Fund III GP, the annual management fees were not reduced by the amount of any acquisition
fees paid by the Project Entities.

Other Expenses

The Adviser and its affiliates are responsible for their normal administrative and overhead expenses,
including compensation of employees, office space and facilities, office supplies, utilities, telephone
service, fees for clerical and administrative services and all other normal overhead costs necessary for
the operation of the Funds.

Each Fund is governed by its own governing documents, which detail a description of expenses for
such Fund. While differences exist among the Funds, the following is a description of expenses
generally charged to each Fund.

The Funds will be responsible for all of its expenses, including travel costs; taxes and other
government charges; fees and duties payable to federal, state, local and other governmental agencies;
litigation expenses, including damages, settlements and reimbursement obligations; brokerage
commissions and fees; expenses for banking, depositary, safekeeping and custodial services; costs of
reports; consulting fees, outside counsel, tax preparation, printing and mailing costs, administration
and accounting expenses (which, for the avoidance of doubt, includes, but is not limited to, (i) third
party accounting and administration services, (ii) costs and expenses related to Fund compliance
testing and reporting, (iii) occupancy costs related to data management, investor records and other
data storage, (iv) equipment and office space related to disaster recovery and other business continuity
arrangements; expenses related to the offer and sale of Interests, research and economic reports,
publications and subscriptions; capital contributions to Project Entities (as defined below); premiums
for insurance (including insurance for the protection of officers, managers, directors, and key
employees); and all costs associated with the research, investigation, negotiation, and closing of

Investments and subsequent management of the investment, whether or not the Investment is actually
made, and (v) organizational and offering expenses of the Fund.

If an expense is incurred by the General Partner, the Fund or any of their affiliates, and such expense
benefits not only the Fund but also a co-investor, then such expense will be allocated among and
reimbursed by such benefiting entities in such a manner as determined equitable by the General
Partner. It is anticipated that this allocation will be pro rata based upon the total commitments of the
respective investment groups and the total capital committed to the various Investments. This is true
with respect to the payment of the acquisition fee as well. If the General Partner determines that the
method of allocation of expenses or fees is based in whole or part on the total capital committed to
the Fund and any co-investors, or upon the amount invested by such entities in a particular Investment,
then the General Partner may adjust the burden of the reimbursed expense or fee if, as and when the
amounts of committed capital or invested capital change.

For more detailed information and a complete description regarding each Fund’s fees and expenses
please refer to the applicable Fund’s Governing Documents.

Item 7: Types of Clients

Currently, the Adviser provides investment advisory services solely with respect to affiliated private
pooled investment vehicles, its sole advisory clients.

The minimum initial capital commitment generally required for an investor in a Fund is $1,000,000
(subject to the Adviser’s discretion to accept a lesser amount).