Francisco Partners Management LP

Item 5. Fees and Compensation

The information contained herein is qualified in its entirety by the relevant Fund Documents and
further details about such fees and expenses are contained in the applicable Fund Documents.

Management Fee

As compensation for investment advisory services rendered to the Funds, FP receives from each
Fund an annual management fee typically calculated based on committed capital or remaining
invested capital with respect to each Fund, payable either: (i) quarterly (in advance); or (ii) semi-
annually (with each installment representing a payment in arrears for the one quarter-month period
preceding the due date and in advance for the five and three quarter-month period following the
due date). Installments of the management fee payable for any period other than a full quarterly
or semi-annual period are adjusted on a pro rata basis according to the actual number of days in
such period. Upon termination of an Advisory Agreement, management fees that have been
prepaid but have not been earned are generally returned on a prorated basis. Management fees
paid by a Fund are indirectly borne by the investors in such Fund. As described below, FP is
permitted to reduce or waive the management fee in some circumstances in connection with the
receipt by FP or its related persons of various fees paid by actual or prospective portfolio
companies. Unless otherwise agreed with a Fund’s investors, management fees will continue to be
payable during any term extensions.

The Fund Documents set forth the full list of terms under which management fees will be reduced,
offset or otherwise be limited, and consequently limited partners should expect to bear the full
specified management fees rate in the Fund Documents until they are reduced in the circumstances
and on the date(s) specified therein. The Fund Documents provide the General Partner with wide-
ranging authority to make determinations, including those related to investment purchases and
dispositions (and their timing), valuation, and other matters that have the potential to affect the
compensation of the General Partner and its affiliates. In making such determinations, the General
Partner is subject to potential conflicts of interest. For example, the potential to earn additional
compensation can create an incentive for the General Partner to make investments and to hold
investments longer than otherwise would be the case in the absence of the Fund’s management fee
and carried interest compensation arrangements.

Transaction fees and other fees and expenses allocated to a portfolio company at the time of
investment are generally capitalized into the amount of invested capital. Accordingly, to the extent
that management fees are calculated based on invested capital, this would increase the amount of
management fees paid to FP. Please see “Fee Structure” in Item 11 below for a further discussion
of management fees and associated conflicts of interest.

The management fee is also generally subject to waiver or reduction by the General Partner of
such Fund, in its sole discretion. The fee structures described herein may be modified from time
to time and fees may differ from one Fund to another, as well as among investors in the same Fund.

Certain waived portions of the management fee are treated by the Fund Document of the relevant
Fund as a deemed capital contribution by the relevant General Partner, which is effectively

invested in the relevant Fund on such General Partner’s behalf. Any such contribution reduces the
amount of capital contributions the relevant General Partner would otherwise be required to
contribute to the relevant Fund. Any balance of fees or waivers eligible for offset against the
management fee which have not been offset by the subsequent reduction of the management fee
prior to the dissolution of a Fund shall be paid by the General Partner to the investors.

Carried Interest

Funds will also allocate a portion of their investment profits to their General Partners, as a
“Carried Interest,” as discussed in Item 6 below. Each General Partner of a Fund is a related
person of FP. Carried Interest paid by a Fund is indirectly borne by investors in such Fund and
certain Funds and investors in such Funds may incur lower or no Carried Interest.

Related Services

FP and its affiliates typically perform management, advisory, transaction-related services,
financial advisory, and other services (“Related Services”) for actual or prospective portfolio
companies or other deal-related investment vehicles of the Funds, including services in connection
with mergers, acquisitions, add-on acquisitions, financings, refinancings, dividend
recapitalizations, public offerings, sales, credit origination, loan syndication, loan arrangement,
loan servicing, and similar transactions. FP and its affiliates, from time to time, receive cash,
equity, and other non-cash fees, and reimbursements for certain out-of-pocket expenses, for such
Related Services which have historically and could in the future exceed the management fee. In
certain cases, such fees will be paid in securities of portfolio companies or investment vehicles (or
rights thereto) or otherwise.

Although Related Services fees are in addition to the management fees paid by the Funds, FP will,
in some circumstances, reduce future management fees in connection with the receipt of these
Related Services fees. The calculation of such reduction varies from Fund to Fund and is described
in the applicable Fund Document. Additionally, any placement fees paid by the Funds in
connection with arranging the Funds result in a reduction of management fees. All such reductions
will be credited on a regular basis and, in general, in the subsequent quarterly or six-month period,
as applicable. To the extent any such credit would reduce the management fee for a given
management fee period below zero, such credit will be carried forward for future application. To
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Item 7. Types of Clients

FP currently provides discretionary investment advisory services to the Funds, which are FP’s only
clients, in accordance with the terms of the relevant Fund Documents as described in Item 4 above.
The Funds are generally domestic and foreign limited partnerships, limited liability companies,
and other vehicles that are not registered or required to be registered under the Investment
Company Act. In addition, the securities issued by the Funds are not registered or required to be
registered under the Securities Act and are generally privately placed to qualified investors in the
United States and elsewhere. Investment in the Funds is generally only available to institutional
investors and certain high net worth investors that are “accredited investors” and/or “qualified
purchasers,” within the meaning of Rule 501 of Regulation D under the Securities Act, and as
defined in Section 2(a)(51) of the Investment Company Act, respectively.

Investment advice is provided directly to the Funds and not individually to investors in any Fund.
Investors in FP’s Funds include, among others, governmental and corporate pension and profit-
sharing plans, corporations, endowments, foundations, estates, private investment funds, insurance
companies, sovereign wealth funds, funds of funds, family offices, trusts, and certain high net
worth individuals. All investors are subject to applicable suitability requirements. Also, an FP
employee who qualifies as a “knowledgeable employee” within the meaning of Rule 3c-5 of the
Investment Company Act may make a capital commitment to one or more of the Funds.
Additionally, other persons associated with the Firm and/or its affiliates, including the General
Partners, and certain of the personnel of FPO or other service providers retained by the Firm have
a capital commitment to one or more of the Funds.

The Funds generally have a specified minimum investment commitment as set forth in the Fund
Documents, subject to the relevant General Partner’s discretion to accept investment commitments
of lesser amounts. As a general matter, there is no minimum capital commitment amount for
investors in certain alternative investment vehicles or co-investment vehicles, except as required
under applicable law.