Eltura Capital Management LLC

Item 5 - “Fees and Compensation” for additional information, including on related conflicts of interest.

Advisory and Non-Advisory Activities, Including Strategic Arrangements. The Adviser and its related entities
engage in a broad range of advisory and non-advisory activities, including investment activities for their own
account and for the account of other Clients, and providing and/or coordinating transaction-related, legal,
management and other services to Clients. In particular, the Adviser’s affiliate, EA, has proprietary interests
in investments recommended to Clients through its eligibility to receive incentive compensation. Principals
of the Adviser or personal trading vehicles formed by principals of the Adviser, including Mr. Martin Ego or
his affiliates, such as EV and SV, are permitted to invest in securities previously recommended to Clients.
The Adviser also enters into strategic arrangements with underlying investors that commit significant capital
into a particular Client. Such arrangements often include the Adviser granting certain preferential terms to
these underlying investors, including co-investment rights. See Item 8 - “Methods of Analysis, Investment
Strategies and Risk of Loss - Investment Allocation, Advisory and Non-Advisory Activities” for additional
information, including on related conflicts of interest.

Financial Relationships. The Adviser or its related persons engage in various financial relationships with
Clients and/or investors, such as, revolving loans, revenue sharing, warehousing, pledge agreements,
guaranty agreements and security agreements. These agreements could present conflicts of interest
whereby the Adviser has an incentive to place its interests above clients’ or to favor certain investors or
clients over others. For example, certain pledge agreements have granted to certain investors membership
interests in the Adviser and its affiliated Service Provider, EA, as pledged collateral to secure the payment
or performance of various secured obligations. As long as the Adviser or its affiliate satisfy the pledge terms,
there is no actual impact to Clients and/or investors. However, a pledge agreement could provide an
incentive to the Adviser or an affiliate to fulfill its obligations to, and satisfy, the investors that have this right
over other Clients and/or investors that do not have this right. Further, in the event that the Adviser or its
affiliate default and the pledge is exercised, it could result in a material change in control of the Adviser or
in the ownership of the Adviser and this would trigger a potential redemption, consent and/or an assignment,
in accordance with the client’s advisory agreement or the terms in the offering documents. See Item 8 -
“Methods of Analysis, Investment Strategies and Risk of Loss - Fund Pledges and Guarantees” for additional
information

Conflicts Relating to Side Letter Agreements

Each Client may enter into agreements, or “side letters,” with certain prospective or existing investors
whereby such investors including such persons that may be affiliated with the Adviser or its related persons
may be subject to terms and conditions that are more advantageous than those set forth in the Governing
Documents for the Client. For example, such terms and conditions may provide for special rights to make
future investments in a Client, other investment vehicles or managed accounts; special redemption rights,
including those relating to frequency or notice; a waiver or rebate in management fees or incentive
allocations or redemption charges to be paid by the and/or other terms; rights to receive reports from the
Client on a more frequent basis or that include information not provided to other investors (including, without
limitation, more detailed information regarding portfolio positions) and/or such other rights as may be
negotiated by the Client and such investors. The modifications are solely at the discretion of the Client and
may, among other things, be based on the size of the investor’s investment in the Client, an agreement by
an investor to maintain such investment in the Client for a significant period of time, or other similar
commitment by an investor to the Client.

Item 7.      Types of Clients
The Adviser’s Clients consist of pooled investment vehicles, however, the Adviser may in the future serve
as the investment manager to other client accounts, including separately managed accounts. Any initial and
additional subscription minimums with respect to investment in a Fund are disclosed in the Governing
Documents for each Fund. With respect to a separately managed account or a sub-advised account, the
governing terms will be set forth in an investment management agreement or sub-advisory agreement, as
applicable. Notwithstanding the foregoing, the Adviser may waive the minimum subscription amount with
respect to certain investors in a Client.