Everwest Advisors LLC

Item 5 – Fees and Compensation

Sagard Real Estate does not have a formal fee schedule for its services. Compensation for investment
advisory services is generally negotiated, determined and assessed with respect to each advisory
contract or Client. Please refer to the Governing Documents of each Client for specific fee
information.

Sagard Real Estate or its affiliates are typically compensated from one or more of the following types
of fees (which generally vary depending on the applicable Client): (1) asset management fees, which
typically may be based upon net asset value, gross asset value or historical cost, generally paid
monthly or quarterly in arrears, and (2) financing fees, based on a percentage of the loan value
procured, (3) acquisition or disposition fees, (4) fees to Sagard Real Estate or its affiliates for
ancillary real estate services such as, for example, property management, development or
construction management services, and (5) performance fees, paid when distributions are made in
excess of invested capital and a stated minimum return. If a Client is not a Fund, fees may be billed
to the Client or, at the Client’s direction, to the Client’s custodian and may be paid, at the Client’s
election, directly by the Client or deducted from the Client’s account. With regard to the Funds, fees
are paid by the Funds (or deducted from amounts otherwise distributable to investors).

Each Fund may bear organizational and offering expenses incurred in the formation of the Fund.
These include all expenses (including legal, accounting, administrative and travel expenses) incurred
by the Fund, Sagard Real Estate or its affiliates in connection with organizing the Fund and soliciting
investors for the Fund. If a placement agent is retained to solicit investors for a Fund, any placement
agent fees will typically be paid by the Fund but borne by Sagard Real Estate through a 100% offset
against the management fee or paid directly by Sagard Real Estate or its affiliates. Sagard Real Estate
or its affiliates may provide seed capital in connection with a Fund. The Firm and its senior level
executives and/or owners may from time to time co-invest in the Funds and, in such event, in addition
to acquisition, asset management, and/or financing fees payable to Sagard Real Estate, the Firm and
its senior level executives and/or owners often times receive distributions (or “promote”) from such
commingled vehicles which permit Sagard Real Estate and such senior level executives and/or
owners to participate in investment returns to investors above a pre-determined threshold of return.

With regard to direct investments in real estate, the advised Funds and Account(s) frequently incur
costs and expenses generally at prevailing market-based rates associated with third party services,
such as accounting, audit/tax preparation, appraisal, legal, acquisition, due diligence, loan
origination, property management, brokerage and leasing commissions, development, repairs and
maintenance, and other third party services customarily associated with the acquisition, ownership
and disposition of real estate, some of which are payable to Sagard Real Estate or its affiliates as
disclosed above and in the Governing Documents of a Client.

In general, Clients do not pay Sagard Real Estate’s fees in advance.

Item 7 – Types of Clients

Sagard Real Estate provides investment advice regarding real estate, real estate related assets, and
securities to Clients. The real estate strategies are typically targeted to public or corporate pension
plans, insurance companies, financial institutions, corporations, foundations, and high net worth
individuals and institutional investors. Each Client typically has a minimum capital commitment
requirement (which is waiveable at Sagard Real Estate’s discretion) for underlying investors
specified in the Client’s Governing Documents. Investors are required to meet specified investor
suitability requirements, which vary by Client and are described in each Client’s Governing
Documents.