Enhanced Capital Partners LLC

ITEM 5 – FEES AND COMPENSATION

General Information Regarding Fees

In addition to the distributions Enhanced may receive as a direct or indirect owner, general partner
or manager of the Clients, Enhanced receives management fees and compensates its employees in
connection with the investment management services that it provides to the Clients, and may also
receive carried interest allocations and other performance-based fees, as detailed in Item 6 –
Performance-Based Fees and Side-by-Side Management.

Management Fees

Texas Fund

The Texas Fund currently pays management fees as its asset levels have increased in connection
with a portfolio exit transaction. During prior periods, the Texas Fund was not obligated to pay
management fees due to its life cycle stage, and certain management fees were accrued to be paid
when cash became available. If in the future cash is not available to pay management fees when
due, the fees will again accrue until such time as cash is available. Management fees are deducted
from the Texas Fund’s operating account. The amount of the management fee was negotiated
prior to the time that the Performance Agreement was executed. Management fees do not include
custodial fees or certain accounting, or legal fees associated with the maintenance of the Texas
Fund. There are no brokerage or mutual fund fees associated with the Texas Fund.

SBIC Fund

Due to its life cycle stage, the SBIC Fund is not currently obligated to pay management fees.
During prior periods, the SBIC Fund paid the SBIC Manager an annual management fee that was
deducted directly from the SBIC’s operating account. The amount of the management fee was
negotiated with the investors prior to the execution of the SBIC Fund’s limited partnership
agreement. The management fee was payable in quarterly installments in advance, based on the
cost basis of the SBIC Fund’s investments. The management fees paid by the SBIC Fund did not
include custodial fees or certain accounting or legal fees associated with the maintenance of the
SBIC Fund. There are no brokerage or mutual fund fees associated with the SBIC Fund.

Clifford Funds

The Clifford Funds pay ECG an annual management fee that is deducted directly from their
operating accounts. The amount of the management fee was negotiated prior to the time that the

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Enhanced Capital Partners                                                    Form ADV – Part 2A

Advisory Agreement was executed. It is payable quarterly, in arrears, based on deployed capital.
The management fee does not include custodial fees or certain accounting, or legal fees associated
with the maintenance of the account. There are no brokerage or mutual fund fees associated with
the Clifford Funds.

Project Lending Fund

The Project Lending Fund pays ECG an annual management fee that is deducted directly from the
Fund’s operating accounts. The amount of the management fee was negotiated prior to the time
that the Advisory Agreement was executed. It is payable quarterly, in advance, based on the value
of Fund assets. The management fee does not include custodial fees or certain accounting, or legal
fees associated with the maintenance of the Project Lending Fund. There are no brokerage or
mutual fund fees associated with the Project Lending Fund.

Climate Fund

The Climate Fund pays Climate Finance an annual management fee that is deducted directly from
the Climate Fund’s operating account. The amount of the management fee was negotiated prior
to the time that the Advisory Agreement was executed. It is payable quarterly, in arrears, based
on deployed capital, subject to a maximum and minimum fee. There are no brokerage or mutual
fund fees associated with the Climate Fund.

RETC Funds

The RETC Funds pay ECG an annual management fee that is deducted directly from their
operating accounts. The amount of the management fee was negotiated prior to the time that the
Advisory Agreement was executed. It is payable quarterly, in arrears, based on deployed capital.
The management fee does not include custodial fees or certain accounting, or legal fees associated
with the maintenance of the account. There are no brokerage or mutual fund fees associated with
the RETC Funds.

Other Compensation

Enhanced employees may serve on the board of directors of the portfolio companies and may
receive board of director fees. Enhanced employees may also, as part of their compensation
structure, participate directly in the gains achieved by the State Focused Fund investments that
they source and/or manage. This may create an incentive for Enhanced employees to recommend
riskier or more speculative investments in order to further their own economic interests.

Expenses

Certain expenses are paid by the respective Clients as stipulated in each Client’s limited
partnership agreement, performance agreement, limited liability company agreement and/or
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Enhanced Capital Partners                                                     Form ADV – Part 2A

private placement memorandum, or as determined in accordance with applicable statute or
regulations. Such expenses may include, but not be limited to, legal, accounting, tax, consulting,
research, due diligence, expenses incurred with respect to investment transactions not
consummated (to the extent that such expenses are not reimbursed by entities in which a Client
invests or proposes to invest), custody, and expenses of an advisory committee. Expenses borne
by a Client are allocated to be paid by such Client.

Please refer to the applicable Client’s limited partnership agreement, performance agreement,
limited liability company agreement, private placement memorandum, applicable statute or
...

ITEM 7 – TYPES OF CLIENTS

Enhanced provides securities-related investment advisory services directly to the Clients, subject,
as applicable, to the direction and control of a board of managers, managing member or general
partner of a Client.

Investors in the Texas Fund consist of governmental subdivisions or agencies. The Texas Fund is
closed to new investor commitments.

Investments in the SBIC Fund, the Clifford Funds, the Project Lending Fund and the Climate Fund
are only available to institutional investors and certain high net worth investors that are “accredited
investors,” “qualified clients,” or “qualified purchasers” within the meaning of the U.S. Securities
Act of 1933, as amended, and the U.S. Investment Company Act of 1940, as amended,
respectively.

     •    The investors in the SBIC Fund are generally pension funds, funds of funds, banking
          institutions, corporate investors, high net worth individuals, private equity and venture
          capital firms, family offices and charitable endowment accounts. The SBIC Fund is closed
          to new investor commitments.

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Enhanced Capital Partners                                                       Form ADV – Part 2A

     •    The investors in the Clifford Funds are generally pension funds, funds of funds and private
          equity firms. The Clifford Funds are closed to new investor commitments.

     •    The investors in the Project Lending Fund are generally pension funds, funds of funds and
          private equity firms. The Project Lending Fund is open to new investor commitments.

     •    The investors in the Climate Fund are generally pension funds, funds of funds, corporate
          investors, high net worth individuals, private equity and venture capital firms, family
          offices and charitable endowment accounts. The Climate Fund is closed to new investor
          commitments.