EVP Management LP

Item 5 – Fees and Compensation

Management Fees

Information with respect to fees, redemptions and termination are set forth in the respective fund’s
offering documents.

Element is a private equity funds manager. For the funds that pay a management fee, the fees are
typically due quarterly in advance, on the first day of each calendar quarter, based on the fund’s

aggregate capital commitments during the investment period. In accordance with the relevant limited
partnerships and the private placement memorandums, there are two funds that do not pay a
management fee or carried interest. Post investment period, management fees are based on a
percentage of invested capital at cost and capital reserved for follow-on investments in existing
portfolio companies. The percentage ranges from 1% to 2% based on the respective fund’s limited
partnership agreement. Element deducts the management fee from each fund quarterly. If there are
insufficient assets in the fund account, Element issues a capital call notice to the fund’s investors.
Management fees are generally not refundable absent certain circumstances described in each fund’s
limited partnership agreement.

Item 7 – Types of Clients

Element is a private equity manager whose clients are private funds. Investors in the funds may
include public and private pension plans (both U.S. and non-U.S.), insurance companies, banks,
endowments and foundations, as well as high net worth individuals.

Conditions for Managing Accounts

Private funds managed by Element typically require investors to make a minimum commitment of $5
million. The minimum may be waived at the discretion of the general partner of the fund.

Element’s private funds are neither registered under the Investment Company Act of 1940, nor are
their interests registered under the Securities Act of 1933. Accordingly, interests in these funds are
offered exclusively to investors satisfying the applicable eligibility and suitability requirements either
in private placement transactions within the United States or in similar offshore transactions.