Falcon Investment Advisors LLC

Item 5. Fees and Compensation

Falcon and/or affiliates acting as general partners (or equivalent) of the Falcon Funds generally
receive management fees and performance-based compensation and could receive certain
additional compensation in connection with management and other services performed for
portfolio companies (e.g., Supplemental Fees, as defined below) of the Falcon Funds and the
Falcon Fund’s pro rata share of such Supplemental Fees is generally offset in whole against the
Management Fees (as defined below) otherwise payable to Falcon to the extent provided by the
Governing Documents, all as further described below. Investors in a Falcon Fund also bear certain
expenses. The precise amount of, and the manner and calculation of, the Management Fees payable
with respect to each client are negotiated on a vehicle-by-vehicle basis, depending upon the size
of their commitments, the timing of those commitments, and other factors negotiated between the
investors and Falcon, and are set forth in the relevant Governing Documents. Different Falcon
Funds are subject to different Management Fees as compensation for the investment advisory
services rendered to such Falcon Fund, and certain clients may not be subject to Management Fees
and/or performance-based compensation, as set forth in the relevant Governing Documents.
Management fees and expenses could also be paid out of reserves of the applicable Falcon Fund.
Investors should review the Governing Documents of the relevant Falcon Fund in conjunction with
this Brochure for complete information on the fees, performance compensation, expenses and any
applicable offsets or caps described herein, with respect to a particular Falcon Fund.

Management Fees

Falcon Strategic Partners III, LP

Falcon Strategic Partners III, LP does not pay Falcon a management fee (the “Management Fee”).

Falcon Strategic Partners IV, LP

Beginning January 16, 2026 to January 15, 2027, Falcon Strategic Partners IV, LP will not pay
Falcon a Management Fee.

Falcon Strategic Partners V, LP

Falcon Strategic Partners V, LP pays Falcon a Management Fee equal to 1.5% on an annual basis
of aggregate investor capital commitments (“Commitments”). Upon a date specified in the
Governing Documents (the “Stepdown Date”), the Management Fee will be reduced and will equal
1.5% of the lesser of the cost basis of investments and the carrying value of investments.

Falcon Private Credit Opportunities VI, LP, Falcon Private Credit Opportunities VII
(Luxembourg), S.C.Sp and Falcon Private Credit Opportunities VII, LP

Falcon Private Credit Opportunities VI, LP, Falcon Private Credit Opportunities VII
(Luxembourg), S.C.Sp and Falcon Private Credit Opportunities VII, LP pay Falcon a Management
Fee equal to 1.5% on an annual basis of the lesser of the cost basis of investments and the carrying
value of investments.

Falcon Structured Equity Partners, LP

Falcon Structured Equity Partners, LP pays Falcon a Management Fee equal to 1.75% on an annual
basis of Commitments. Upon the Stepdown Date, the Management Fee will be reduced and will
equal 1.75% of the lesser of the cost basis of investments and the carrying value of investments.

Management Fees generally are calculated and paid quarterly in advance and in accordance with
the terms of the Governing Documents. Installments of the Management Fee payable for any
period other than a full quarterly period are adjusted on a pro rata basis based upon the actual
number of days in such period. As a general matter, Management Fees will be payable during term
extensions unless otherwise agreed with investors.

Under the Governing Documents, the Management Fee for certain Falcon Funds will be calculated
and charged on a basis that generally is not tied to a Falcon Fund’s then-current net asset value. As
further specified in the Governing Documents, and discussed above, for such Falcon Funds
Management Fees will initially generally be charged based on a formula tied to the amount of the
relevant Falcon Fund’s aggregate Commitments. However, after a certain date specified in the
Governing Documents, such Falcon Fund’s Management Fee generally will be charged and
calculated based on a formula tied to the cost basis of investments or carrying value of investments
(whichever is lesser). As a result, and as is generally the case for private equity funds, except where
the Governing Documents expressly provide to the contrary, the amount of Management Fees
generally will not correspond with fluctuations in the net asset value of individual investments of
the Falcon Fund, including where the fair market value of an investment exceeds or falls below
the total amount of contributed capital or the cost basis relating to such investment. Therefore, the
Management Fees generally will not be reduced in connection with any partial distributions, partial
realizations, reorganizations, write downs, restructurings, roll-over investments, extraordinary
dividends made with respect to, or similar transaction or in circumstances where one or more other
Falcon Fund(s) divest their respective investment(s) in the relevant portfolio company, whether in
whole or in part, in each case in circumstances that do not result in the complete disposition of the
relevant Falcon Fund’s interest therein (even in cases where the value of the Falcon Fund’s

investment or the Falcon Fund’s ownership percentage in such investment has been reduced
(including substantially reduced) as a result of such partial distribution, partial realization,
reorganization, write-down, restructuring, roll-over investment, extraordinary dividend or similar
transaction), and in such cases, limited partners will continue paying Management Fees in
accordance with the relevant Falcon Fund’s Governing Documents, regardless of any such
transaction. The lack of a requirement to reduce the Management Fee in connection with any
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Types of Clients

Falcon provides advice to its clients, the Falcon Funds, and any references throughout this
Brochure to “clients” and to Falcon’s related duties to and practices on behalf of its clients and/or
investors should be construed accordingly. The Falcon Funds generally include investment
partnerships or other investment entities formed under U.S. or non-U.S. laws and operated as
exempt investment pools under the Investment Company Act of 1940, as amended (the
“Investment Company Act”). The limited partners of the Falcon Funds typically include
individuals, banks or thrift institutions, other investment entities, pension and profit-sharing plans,
endowments, foundations and trusts, sovereign wealth funds, estates or family offices of high net
worth individuals, charitable organizations, other corporations or business entities, and often
include, directly or indirectly, principals or other personnel of Falcon and its affiliates and members
of their families, or other service providers retained by Falcon or a Fund, as well as executives of
portfolio companies.

Falcon or its related persons are permitted to form alternative investment vehicles or special
purpose vehicles (collectively, “AIVs”) formed for the purpose of facilitating certain investments
by one or more Falcon Funds and/or such Falcon Funds’ investors without any additional fees or
compensation charges. Please refer to the Fund Agreement of the relevant Falcon Fund for
complete details on any Falcon Fund’s ability to utilize AIVs. In addition, Falcon or its related
persons has and could, from time to time, establish Falcon Funds and other investment vehicles to

address certain tax, legal or regulatory requirements (“Feeder Falcon Funds”). Each Feeder Falcon
Fund, if formed, would be a limited partner or shareholder of a Falcon Fund and interests in such
Feeder Falcon Fund would be held by the investors who elect to participate in the Falcon Fund
through such Feeder Falcon Fund. Please refer to the Fund Agreement of the relevant Feeder
Falcon Fund for complete details on any Feeder Falcon Fund established by Falcon or its affiliates.

Minimum Investment Requirements

Falcon and its related persons generally require that, to the extent required by applicable law, each
limited partner or shareholder in each of the Falcon Funds be (a) (i) an “accredited investor” as
defined in Regulation D under the U.S. Securities Act of 1933, as amended (the “Securities Act”),
and (ii) either a “qualified purchaser” or “knowledgeable employee” as defined under the
Investment Company Act or (b) a non-“U.S. Person” as defined in Regulation S under the
Securities Act.

In general, the minimum investment commitment required of an institutional limited partner to
participate in a Falcon Fund is $5,000,000; however, the General Partner of each Falcon Fund has
discretion to increase, reduce or waive the minimum investment commitment.