Faropoint Ventures LLC

Item 5.      Fees and Compensation

The Firm’s fees and compensation are described in each of the Faropoint Fund’s Governing Documents.

Management Fees and Carried Interest

The Firm will be paid management fees from Fund IV (generally, payable quarterly in advance). During
the Commitment Period (as defined in Fund IV’s Limited Partnership Agreement), the management fee is
equal to 1.5-2.0% (depending on the size of an investor’s commitment amount) per annum of the
aggregate capital commitment of each investor. Following the Commitment Period, and until the
dissolution of Fund IV, a management fee of 1.5-2.0% per annum of the invested commitment of each
investor will be charged. Thereafter, until the termination of Fund IV, an amount of reasonable
compensation (not to be higher than the previously stated management fee) proposed in writing by the
General Partner to the Advisory Committee and not objected to by a majority of the Advisory Committee
within 30 days of the Advisory Committee's receipt of such proposal. The Firm is also entitled to receive
a quarterly management fee from the Co-Invest Fund.

The Firm reserves the right to negotiate the management fee with investors in its sole discretion,
potentially resulting in reduced fees for certain investors who made a higher capital commitment or for
any investor that has otherwise negotiated its management fee.

The General Partner is entitled to receive carried interest from Fund IV and the Co-Invest Fund. For Fund
IV, the carried interest payable is 20% of the return and is subject to an 8% preferred return, with a 50-50
catch-up. For more information on the carried interest, please see “Item 6 – Performance-Based Fees and
Side-By-Side Management”. The Firm reserves the right to negotiate the carried interest terms with any
investor in its sole discretion meaning that some limited partners may pay reduced carried interest.

In addition to the management fee and carried interest, Faropoint will also receive other fees related to
property management, construction management, development fees, fees for in-house tax and legal
services, leasing commissions, and title fees. The receipt of such fees is not subject to any management
fee offsets.

 Subsequent to December 31, 2025, a portion of the non-discretionary commitment is expected to be deployed by
the Firm within the agreed investment guidelines of the co-investment program vehicle (without requiring investor-
by-investment approval), as a result of which the portion of assets classified as non-discretionary is expected to
decrease and the portion classified as discretionary is expected to increase correspondingly. Additionally, $300
million of the discretionary RAUM is a commitment to the Parallel Fund that closed on February 20, 2026.

Expenses

Each Faropoint Fund bears all costs and expenses incurred in connection with its organization and General
Partner entities, organizational expenses of any Parallel Funds, vehicles related to the General Partner’s
commitment and any related investment vehicles organized by the Firm or its affiliates and the offering
of the interest of the Faropoint Fund, including, without limitation, third-party legal, tax and accounting
fees and expenses, registration and filing fees, marketing costs and expenses, including expenses arising
from compliance with marketing regulations such as the AIFMD, and the transportation, meal and lodging
expenses of the personnel of the General Partner incurred during the provision of services in connection
with the organization of the Faropoint Fund (but excluding any placement fees); provided that
organizational expenses payable by the Faropoint Funds are subject to a cap, as set forth in the applicable
Governing Documents. Organizational expenses in excess of such cap and any placement fees are paid by
the Faropoint Fund but borne by Faropoint through an offset against the management fee.

Pursuant to Side Letter agreements and the Parallel Fund governing documents, certain investors will not
bear certain expenses. This creates a conflict of interest whereby these investors will pay less of their pro-
rata share while other investors are paying more. To mitigate this, Faropoint will bear the portion of
expenses that are not allocable to these investors in order to not disadvantage other investors or
determine a different equitable allocation as allowable by Side Letters and other governing documents.

Each Faropoint Fund also bears its own operational expenses, including:

    •   all third-party costs and expenses of maintaining the operations of the Faropoint Funds and
        sourcing, evaluating, maintaining, structuring, negotiating, acquiring, financing, refinancing,
        hedging, holding, monitoring, managing and disposing of its proposed or actual investments (to
        the extent not paid for or reimbursed by such proposed or actual investments) regardless of
        whether consummated or whether an investment that was not ultimately consummated was
        pursued with a co-investor, including, without limitation, legal, tax, accounting, advisory,
        consulting, other third-party expenses and any and all costs associated with any holding vehicles,
        insurance, indemnification, custodian and other unreimbursed expenses, brokerage fees and
        commissions and administrative fees related to underwriting and processing individual
        transactions and fees for additional services provided by the Firm or its affiliates; fees and other
        governmental charges levied against the Faropoint Funds (other than taxes attributable to and
        actually borne by an investor);

    •   premiums for any litigation, directors’ and officers’ liability insurance or other similar insurance
        policies, including error and omissions, representation and warranty, cybersecurity liability, crime
...

Item 7.     Types of Clients

Faropoint’s only clients are Faropoint Funds. Investors in the Faropoint Funds include high-net-worth
individuals, family offices, insurance companies, pension plans, and other institutional investors who
qualify as “accredited investors” (as defined in Rule 501 under the Securities Act of 1933, as amended).
The Faropoint Funds do not have a minimum commitment amount.