EOS Real Estate Investors LLC

Item 5.     Fees and Compensation

Our fees and compensation are described in the Funds’ Governing Documents. All of the investors in the
Funds are “qualified purchasers” (as defined in Section 2(a)(51) of the Investment Company Act of 1940,
as amended (the “Company Act”)) or “knowledgeable employees” as defined in Rule 3c-5 under the
Company Act.

EOS Real Estate Investors LLC                                                               Form ADV Part 2A

In general, each Main Fund directly or indirectly pays us a quarterly management fee in advance, which is
based on percentage of either: (i) its investors’ total capital commitments during the term of its
investment period or (ii) total actively invested capital thereafter. In general, we also receive a
management fee in respect of each Co-Investment Vehicle, which is based on actively invested capital
from the onset. Management fees will be refunded if the relevant advisory contract is canceled before
the end of the relevant payment period. The relevant EOS GP, in its sole discretion, has waived, and
expects in the future to waive, in whole or in part, the management fee payable by investors that are
employees or affiliates of ours, consultants to or family members of any such persons, or certain
significant or strategic investors.

Each EOS GP or an affiliate thereof is also entitled to receive carried interest from the relevant Fund, as
further described in Item 6 – Performance-Based Fees and Side-By-Side Management.

With respect to the Hospitality Funds, our affiliates provide property-level services, including property
management, leasing, construction management, development, security and other real estate-related
services in respect of the Funds’ hospitality property investments and receive fees from the properties in
consideration for such services. Such property management fees are described in detail in the Funds’
Governing Documents and generally consist of a base management fee equal to a fixed percentage of
total revenues generated by the property on a monthly basis, a centralized accounting services fee equal
to a fixed amount per month, development management fees equal to a fixed percentage of the total
budget for renovations, refurbishments and other capital improvement projects and an incentive fee
payable upon the sale of a property if a specified return on investment is achieved. Additionally, our
affiliated hotel management company, EOS Hospitality, may be retained by the Hospitality Funds to
provide hotel management services to certain hotels and related properties under hotel management
agreements. EOS Hospitality utilizes certain employees from our affiliates to provide shared services that
are typically handled by property-level hotel staff, including, among other things, roles in sales, marketing,
public relations, revenue management, e-commerce support, food and beverage consulting, finance,
payroll, operations, and human resources. The costs associated with these shared service employees
encompass both labor costs (including all compensation, such as salary, wages, accrued bonuses, payroll
taxes, health and welfare benefits, and severance payments, including any employer costs associated with
these labor costs) and overhead costs (such as IT services, software, and equipment). The shared service
costs are either charged back to the Funds’ hospitality property investments or allocated to our affiliates
and EOS Hospitality, based on the specific employee role or the employee’s time spent on property-
specific projects, in accordance with our internal policies. The allocation of shared service costs is based
on methodologies tied to the employees’ roles and responsibilities that we believe to be fair and
reasonable. The shared service costs are allocated in a systematic manner, based on factors such as, but
not limited to, revenue (total and rooms revenue), employee headcount, and the percentage of time
dedicated by employees to certain activities. For employees whose work is project-based or filling vacant
roles, support is also maintained for the allocation of any related costs. Each Hospitality Fund bears its pro
rata share of any such fees with respect to any of the Fund’s hospitality property investments, and such
fees will not offset the management fees or carried interest payable in respect of a Fund.

In general, each Fund will bear all costs and expenses incurred in connection with its organization,
including legal and accounting fees, printing costs, travel and other out-of-pocket expenses, and all costs
and expenses incurred in connection with the offering of interests in the Fund (but excluding placement
fees, if applicable) (“Organizational Expenses”), up to a maximum amount specified in the applicable
Fund’s Governing Documents. Organizational Expenses in excess of this maximum amount, and

EOS Real Estate Investors LLC                                                                Form ADV Part 2A

placement fees (if applicable), will be either paid by the Fund but borne by us through an offset against
the management fee payable by the Fund or paid by us.

In addition, each Fund will bear its own operating costs, which include (as applicable): (i) the above-
described management fees; (ii) all out-of-pocket costs of the Fund’s administration, which administrative
services may be provided by our affiliates, including administrative, tax, accounting, audit, legal,
consulting, real estate investment trust (“REIT”) compliance, brokerage, custody, depositary, safekeeping,
investment banking and other professional fees and expenses, costs of holding any meetings of the
investors in the Fund, costs of any liability insurance, costs associated with reporting and providing
information to existing and prospective investors on Fund or investment-related matters, including the
preparation and dispatch to the investors of distributions, financial reports, tax returns, Schedules K-1,
...

Item 7.     Types of Clients

Investors in the Funds are generally high net worth individuals and institutional investors that qualify as
“accredited investors” (as defined in Rule 501 under the Securities Act of 1933) and either as “qualified
purchasers” or “knowledgeable employees” (as defined under the Investment Company Act of 1940).
Each Fund generally has a minimum investment amount for third-party investors, as set forth in such
Fund’s Governing Documents. We reserve the right to waive such minimum investment amounts in our
sole discretion.