Forman Capital LLC

Item 5: Fees and Compensation

Forman Capital provides investment advisory services to each Client pursuant to the applicable Governing
Documents. The applicable Governing Documents set forth in detail the fees and, as applicable, carried
interest structure, relevant to each Private Vehicle. The terms of the Governing Documents are generally
established at or around the time of the commencement of the advisory relationship with a Private Fund,
subject to amendment in accordance with the terms of the applicable Governing Documents.

All prospective Investors should review the Governing Documents in conjunction with this Brochure for
complete information on the fees and compensation payable with respect to the advisory relationship with
Forman Capital.

Forman Capital may reduce, waive, or modify any fees for any Client in the Firm’s sole discretion. Any
such modification in respect of a certain Private Vehicle or Investor will not entitle any other Private
Vehicle or Investor to the same or similar treatment.

Management Fees

Except as otherwise set forth in the applicable Governing Documents, Forman Capital expects to receive
an annual management fee (the “Management Fee”) of 1% from each Private Vehicle, which can be
changed from time to time as set forth in the applicable Governing Documents. The Management Fee will
typically be based on a percentage of committed capital or actively invested capital, charged monthly in
advance (and pro-rated for any period that is less than a full month) and paid directly from the applicable
Client’s assets, current income and disposition proceeds received by the Client and, to the extent
necessary, from drawdowns from Investors. Forman Capital’s services may be terminated by a Client as
set forth in the applicable Governing Documents. Upon termination, depending on the facts and
circumstances and the terms of the applicable Governing Documents, any prepaid, unearned Management
Fees could be refunded or otherwise not become payable, and any earned, unpaid Management Fees could
become due and payable.

Administrative Fees
Clients may be subject to an administrative fee (the “Administrative Fee”) on capital committed as set
forth in the applicable Governing Documents. Administrative Fees are intended to support Forman
Capital’s infrastructure and operational costs, such as outside financial consultants, that are ancillary to its
management of Client assets. Except as otherwise set forth in the applicable Governing Documents,
Forman Capital will generally pay, without reimbursement by the applicable Client(s), all of Forman
Capital’s ordinary administrative and overhead expenses that are not included in the Administrative Fee.

Performance Based Fees – Carried Interest
A portion of each Client’s net investment profit is expected to be allocated to Forman Capital or an
affiliated entity as “Carried Interest” as further described in Item 6. The manner of calculation of such
Carried Interest is disclosed in the applicable Governing Documents and may vary by Client.

Additional Fees Paid to the Adviser
The amount of fees payable to Forman Capital, as well as the timing and manner of payment, is established
on a case by-case basis in the applicable Governing Documents received by the relevant investor in the
Private Vehicles (as applicable).

Forman Capital may receive a origination fee, extension fee, underwriting fee, servicing fee, and/or an exit

fee to be borne by the company receiving the loan. While not borne directly by any Client or investor,
these fees are paid to Forman Capital.

Expenses
Forman Capital is authorized to incur and pay in the name and on behalf of its Clients all expenses which
Forman Capital deem necessary or advisable.

Forman Capital is responsible for and shall pay, or cause to be paid, all of its own ordinary administrative
and overhead expenses, including, without limitation, all costs and expenses related to rent, furniture,
fixtures, equipment, office supplies, clerical expenses and all salaries, outside financial consultants, bonuses
and benefits paid to, or on behalf of, its personnel.
Expenses borne by Clients are set forth in relevant Governing Documents, which generally allows payment
(or reimbursement) to Forman Capital of costs and expenses incurred by Forman Capital in connection
with the establishment and offering of a Private Vehicle (including e.g, legal and accounting costs).

Item 7: Types of Clients

Forman Capital provides or expects to provide investment advisory services as an investment adviser to
the Private Vehicles and not to Investors. Each Investor in a Private Vehicle must make its own investment
analysis and decision as to whether it makes a Commitment. Each Investor that makes a Commitment
must meet the eligibility requirements outlined in the Private Vehicle’s offering documents, which generally
include that the Investor must be both an accredited investor and a qualified client.

To the extent that there are prescribed minimum investment amounts for any Investor in a Private Vehicle,
such amounts are set forth in the Governing Documents for each Private Vehicle.