Excolere Equity Partners LLC

Item 5 – Fees and Compensation

The information in this Item 5 reflects the terms on which the Advisor intends to provide
investment advice to its Funds.
The governing documents of the Funds set forth in detail the fee structures relevant to each
Fund.
For its advisory services to the Fund(s), Excolere typically receives a management fee (the
“Management Fee”) based on a percentage of assets under management. The Advisor or the
Fund’s General Partner, will typically be entitled to carried interest, as well as Management
Fees calculated based on a percentage of assets under management.
The Advisor is authorized to deduct Management Fees, incentive fees (“Carried Interest”),
and expenses directly from Fund I. The Fund’s governing documents set forth the full list of
terms under which Management Fees will be reduced, offset or otherwise limited, and
consequently investors should expect to bear the full specified Management Fee rate in the
fund documents until they are reduced in the circumstances and on the date(s) specified
therein. Investors should review the fund documents detailing all fees and expenses incurred
by the Funds to fully understand the total amount of fees and expenses to be paid by each
Fund.
Excolere may negotiate fees and waive all or a portion of the fees paid by investors in the
Fund. Excolere may, in its discretion, enter into different fee arrangements with different
Funds or investors in the Funds for the same investment management services, including the
Firm’s Employees and affiliates.
The Management Fee respect to Fund I is a quarterly fee, payable in advance, that is calculated
as a percentage of: (i) during the fund’s investment period, each investor’s committed capital
and (ii) after the fund’s investment period, each investor’s invested capital. The management
fee rate is 2%, subject to certain discounts that may be granted in the discretion of the general
partner in accordance with the fund’s governing documents.
Management fees payable by the Funds are generally deducted from the Funds following the
funding of undrawn capital commitments by investors in such Funds, or the withholding of
such amounts from proceeds otherwise distributable by such Funds, in each case in
accordance with such Fund’s governing documents.
The fee schedules for the Funds will be described in detail in the Funds’ offering
memorandum.
Excolere may engage in monitoring fee arrangements with portfolio companies. In certain
limited circumstances, monitoring fee arrangements with portfolio companies may include
provisions that permit the acceleration of monitoring fees upon certain events, such as the
initial public offering or strategic sale of a portfolio company. These acceleration provisions
typically require a termination payment by the portfolio company, which often reflects the
net present value of at the time of the termination of the fees that would have been payable

                                                                                Part 2A of ADV:
                                                         Excolere Equity Partners, LLC Brochure

for the remaining term of the agreement. Because certain monitoring agreements with
portfolio companies may have prolonged terms (which may exceed the relevant Advisory
Client’s (or investment’s) term), the effects of such acceleration and termination payment are
often substantial.
The foregoing discussion in Items 5 represents Excolere’s basic compensation
arrangements. The management fees and incentive allocations described above are
structured to comply with Rule 205-3 under the Advisers Act and applicable state laws.
Fees and other compensation are negotiable in certain circumstances and
arrangements with any particular Investor may vary.

Item 7 – Types of Clients

Excolere, through its affiliated General Partner(s) provides investment advisory services on
a discretionary basis to privately offered pooled investment vehicles organized as limited
partnerships and to special purpose vehicles. Investment advice is provided directly to the
Funds and not individually to investors in the Funds. Investors in the limited partnerships
must be accredited investors within the meaning of Regulation D promulgated under the U.S.
Securities Act, and qualified purchasers within the meaning of the 1940 Act. Investors in
certain SPVs must be accredited investors within the meaning of Regulation D promulgated
under the U.S. Securities Act. Investors are expected to include, among others, banks, thrift
institutions, public and private pension and profit-sharing plans, trusts, estates, charitable
organizations, university endowments, corporations, limited partnerships and limited
liability companies or other entities. Generally, the Funds have a minimum investment
amount of $5 million. Such investment amount may be waived by the General Partner.

                                                                                Part 2A of ADV:
                                                         Excolere Equity Partners, LLC Brochure