Forward Consumer Partners LLC

Item 5: Fees and Compensation

The following is a general description of fees, compensation, and expenses of the Funds.
Differences exist from Fund to Fund, and certain Funds may not charge certain fees,
compensation, or expenses that other Funds charge. The Partnership Agreements of the
Funds describe fees, compensation, and expenses in greater detail.

Management Fee

Commencing on their effective date and during their respective investment periods, the Funds
generally will pay Forward Consumer Partners, LLC an investment management fee (the
“Management Fee”), quarterly in advance, calculated based on a specified annual percentage
for each Fund (generally 2%, as specified in each Fund’s Partnership Agreement) of aggregate
investor capital commitments (“Commitments”). After the expiration of the applicable
investment period or earlier upon the occurrence of certain events as set forth in the
applicable Partnership Agreement, the Management Fee paid by a Fund generally will be
calculated based on a specified percentage (generally 2%, as specified in each Fund’s Partnership
Agreement) of (i) aggregate investment contributions, less (ii) the aggregate amount of
investment contributions with respect to the portion of each investment that has been
disposed of or permanently written-down, as determined in accordance with the applicable
Partnership Agreement. These “stepdown” provisions also govern to what extent
Management Fees are reduced in the event of a partial disposition where a portfolio company’s
value is greater than the amount of remaining investment contributions.

The Partnership Agreement of each Fund sets forth the full list of terms under which a Fund’s
Management Fee will be reduced, offset or otherwise be limited, and consequently Investors
should expect to bear the full specified Management Fee in the relevant Partnership Agreement
until they are reduced in the circumstances and on the date(s) specified therein.

The Management Fee otherwise payable by the Funds is generally reduced by such Funds’ pro
rata share of a specified percentage of any: (i) directors’ fees, monitoring fees, financial
consulting fees or advisory fees earned by the applicable General Partner with respect to any
Fund investment; and (ii) break-up fees with respect to Fund transactions not completed that
are paid to the applicable General Partner. Payments received for services provided to a
portfolio company in the ordinary course of its business or as compensation for serving as an
employee or in a similar capacity for a portfolio company, whether received by Forward’s
personnel or third parties, are not subject to offset. The remaining amount of the
aforementioned fees that are received by the applicable General Partner without offset against
the Management Fee are hereinafter referred to as “Supplemental Fees.”

The receipt of such Supplemental Fees will not reduce the Management Fee payable by any
Fund(s) that have also invested in such investment, and, as a result, a Fund will, in most cases,
only benefit with respect to the relevant allocable portion of any such fee and not the portion
of any fee related to General Partner or affiliated partner commitments, which have the
potential to be significant. Supplemental Fee offsets generally are performed on a net basis,
after giving effect to certain taxes and other expenses in connection with the receipt of such
fees or the provision of related services. Unless otherwise agreed with investors,

Forward Consumer Partners, LLC                      Form ADV Part 2A Brochure

Supplemental Fees generally will be payable during term extensions, even if Management Fees
are reduced or eliminated during the extended term, thus reducing the amounts of
Management Fees actually offset. Supplemental Fees will be offset only to the extent they are
paid during the holding period of the relevant Fund, and investors generally will not receive
the benefit of Supplemental Fees paid prior to the Fund’s acquisition of the relevant investment.

As described in the Partnership Agreement of the Funds, the applicable General Partner could
waive all or a portion of a Management Fee payment for a corresponding interest in such
Fund’s profits, and any waived portion of such Management Fee may be used to reduce the
amount of capital contributions the General Partner would otherwise be required to
contribute to the Fund. The Investors of a Fund may be required to make a pro rata
contribution according to how they would have funded the waived Management Fee to fund
a contribution that would otherwise be required of the General Partner in connection with
any such waiver, which will be treated as a deemed capital contribution by the General Partner
in respect of the General Partner’s Commitment. Reductions to Management Fees due to
waivers are taken into account before applying the offsets described above.

Carried Interest

In addition to the Management Fee, each Fund’s General Partner generally receives a carried
interest from Investors in the Fund of 20% of all realized profits, subject to an 8% compounded
annual preferred return and a related General Partner catch-up (as more fully described in
each Fund’s Partnership Agreement). The carried interest distributed to a General Partner
typically is subject to a potential giveback at the end of the life of the applicable Fund and, on
an interim basis, if the General Partner has received excess cumulative distributions.

Other Information

Forward exempts (and expects in the future to exempt) certain investors (which include or
may include affiliates, personnel, “friends and family” and other persons with relationships with
or connections to Forward) in the Funds from payment of all or a portion of Management
Fees and/or carried interest. For example, in instances where an affiliate of a Forward
professional invests in a Fund, such affiliate generally will be exempt from payment of the
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Item 7: Types of Clients

The Firm provides investment advice to the Funds, which are private pooled investment
vehicles that are exempt from registration under the Investment Company Act of 1940, as
amended (the “Investment Company Act”). Investors in these vehicles may include high
net worth individuals and institutions, high net worth families, endowments, and funds of funds.
Funds require Investors to meet certain suitability qualifications, such as being (A) “accredited
investors” under SEC Regulation D of the Securities Act of 1933 or (B) “qualified purchasers,”
as defined in Section 2(a)(51)(A) of the Investment Company Act of 1940. It is anticipated that
any future advisory clients managed by the Adviser will have similar eligibility standards as the
Funds.

Investors in the Funds should refer to the applicable Fund’s governing documents and
subscription materials for information on minimum investment requirements and investor
suitability criteria. Information on minimum investment requirements for the Funds is
described, as appropriate, in the Form ADV, Part 1A. For each of the Funds, the minimum
initial commitment is subject to the discretion of the applicable Fund’s general partner.
Forward reserves the right to waive these qualification requirements under certain
circumstances.

Forward Consumer Partners, LLC                       Form ADV Part 2A Brochure