Frontenac Company LLC

Item 5 – Fees and Compensation

A.    Describe how you are compensated for your advisory services. Provide your fee
schedule. Disclose whether the fees are negotiable.

Frontenac and its affiliated General Partners receive fees and compensation in exchange for advisory
services provided to the Funds, including management fees, carried interest, additional compensation
in connection with management services performed for the portfolio companies of the Funds and
reimbursements from portfolio companies for certain expenses advanced on their behalf. The Funds
are also responsible for bearing certain expenses as detailed below and in each Fund’s Governing
Documents. Differences exist from Fund to Fund, and certain Funds do not charge certain fees,
compensation or expenses that other Funds charge or charge them in different amounts. The
following is a general description of fees, compensation and expenses of the Funds. Investors should
refer to the Governing Documents of the applicable Fund for a complete understanding of how
Frontenac is compensated for its advisory services; the information contained herein is a summary
only and is qualified in its entirety by such documents.

Management Fees

As compensation for investment advisory services rendered to the Funds, Frontenac receives a
management fee (the “Management Fee”). In general, each Fund pays Frontenac a 2% Management
Fee that is initially based on total non-affiliated investor capital commitments to the Fund; then, after
the end of the Fund’s stipulated commitment period, the Management Fee is based on non-affiliated
investors’ capital invested in active portfolio companies with respect to investments that have not
been disposed of or completely written off, subject to certain other factors as described in each Fund’s
Governing Documents. A Fund’s borrowings are generally taken into account for purposes of
calculating the Management Fee, as provided in each Fund’s Governing Documents. The amount of
Management Fees generally will not correspond with fluctuations in the net asset value of individual
investments, aggregate investments in a portfolio company or of a Fund, including following the
stepdown date, and will not be reduced in connection with any write-downs, except in the case of
investments that have been disposed of or completely written-off (and for Frontenac XII and XIII,
written off for U.S. federal income tax purposes). Permanent write-down determinations are made in
the discretion of the Investment Committee (comprised of Frontenac’s five Managing Directors) in
accordance with the relevant Governing Documents and the Firm’s valuation policy. Except where
the Governing Documents expressly provide to the contrary, Management Fees will not be reduced
(in whole or in part) in the case of partial distributions (e.g., those resulting from a dividend

recapitalization), partial sales, reorganizations, restructurings, roll-over of investments or similar
transactions, in each case in circumstances that do not result in the complete disposition of the relevant
Fund’s interest therein, and even in cases where the value of such Fund’s investment or ownership
percentage in a portfolio company has been reduced as a result of such transaction. In addition,
Management Fees generally will not be reimbursed or refunded under the Governing Documents in
the event of realizations, dispositions or partial write-downs that occur partway through the relevant
calculation period. Further, where there has been a partial disposition or permanent write-down of a
Fund’s investment and the fair market value of the investment following such event exceeds the total
amount of the Fund’s investment contributions relating to the investment, the Governing Documents
do not require Management Fees after the stepdown date to be reduced. In most circumstances, the
post step-down Management Fee base will include capitalized transaction-specific fees and expenses
of unrealized investments, including transaction fees charged by Frontenac in connection with the
investment, which poses a conflict of interest in that the inclusion of such fees and expenses results
in a higher Management Fee than if such transaction fees and expenses were not capitalized into the
asset base.

Generally, investors participating in a subsequent closing after the initial closing of a Fund are
responsible for paying the Management Fee as of the date of the initial closing of such Fund, plus
interest, as applicable. A portion of the committed capital that Frontenac “calls” or “draws down”
from time to time from Fund investors frequently is used to pay Management Fees. All Management
Fees were negotiated with the Fund’s investors during the fundraising period of the applicable Fund
and are not subject to negotiation thereafter. Frontenac is permitted to reduce or waive Management
Fees in its sole discretion. For example, for certain Funds, Frontenac employees investing through the
relevant General Partner entity in such Fund do not pay Management Fees (although such investors
generally pay their pro rata share of Fund expenses). Management Fees are payable during term
extensions unless otherwise notified to investors. Frontenac does not accelerate Management Fees.
For additional details regarding the calculation and timing of payment of Management Fees, please
refer to the Governing Documents of each Fund.

As per the provisions of the Governing Documents, for certain Funds, Frontenac is permitted to
waive, defer, or reduce all or a portion of the Management Fee payable by a Fund in full or partial
satisfaction of any obligation of a General Partner and certain employees to invest in and alongside
such Fund. Waived portions of the Management Fee are treated by the Governing Documents as
deemed capital contributions by the relevant General Partner, which is effectively invested in the
relevant Fund on the General Partner’s behalf and operates to reduce the amount of capital the
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Item 7 – Types of Clients

Describe the types of clients to whom you generally provide investment advice, such as
individuals, trusts, investment companies, or pension plans. If you have any requirements
for opening or maintaining an account, such as a minimum account size, disclose the
requirements.

Investment advice is provided directly to the Funds, which are exempt from registration under the
Investment Company Act of 1940, as amended, and the rules and regulations promulgated thereunder
(“Investment Company Act”), and not individually to the investors in the Funds. Investors in the
Funds are sophisticated investors, consisting of vehicles owned by insurance companies, fund of funds
(both U.S. and foreign), family offices, endowments, pension funds, foreign asset managers,
foundations, trusts and high net worth individuals (both U.S. and foreign), among others. Investors
in the Funds must meet certain other suitability and net worth qualifications prior to making an
investment in a Fund. The requirements for investing in a Fund are set forth in the Governing
Documents of each Fund.

All Funds impose requirements that investors qualify as (i)“accredited investors” as defined in the
Securities Act of 1933, as amended (“Securities Act”), and (ii) “qualified clients,” as defined in the
Advisers Act; or (iii) “qualified purchasers” or “knowledgeable employees”, each as defined in the
Investment Company Act.

The Funds are not registered or required to be registered under the Investment Company Act; are not
made available to the general public; their securities are not registered or required to be registered
under the Securities Act; and Fund interests are privately placed to qualified investors. Qualified
investors include individuals or entities to which Fund interests are permitted to be sold, which
generally includes (i) in the United States, people or organizations who meet certain net worth, income
and/or financial sophistication requirements as described above or (ii) in other countries, as permitted
by the relevant securities laws in such jurisdiction and in compliance with any foreign offering
provisions applicable to Frontenac and/or the Funds. The Funds generally have a $2 million
minimum investment amount for third-party investors; such minimum investment amount is
permitted to be waived by Frontenac in its sole discretion.

From time to time, Frontenac’s prospective portfolio companies require equity capital in excess of
Frontenac’s funding capacity (based on maximums as set forth in the relevant Fund’s Governing
Documents, while considering future equity funding needs of that potential portfolio company). In
these situations, in order to complete a portfolio company transaction, Frontenac often reaches out
to select investors and other third parties for additional capital. Such determinations are based on the
provisions of the applicable Governing Documents, side letter agreements, agreements with lenders
and such other factors as Frontenac will consider in its sole discretion, including those specified in its
policies on investment allocation and co-investments. Subject to any restrictions contained in the
Governing Documents of the relevant Fund or any side letter or other terms negotiated with respect
to such Fund, in general no investor has a right to participate in any co-investment opportunity.

Opportunities to invest in a portfolio company are made available to Fund investors and third parties,
including, without limitation, management or founders of the applicable portfolio company, strategic
investors, lenders, deal sources (including finders and consultants), other sponsors (including other
private equity or venture capital firms), service providers, CEO1ST executives, other persons or
entities affiliated, associated or otherwise known to Frontenac or its personnel. Additionally, certain
individuals who source transactions or provide financing have in the past and are expected in the
future to negotiate co-investment rights or co-investment priority rights as a component of their
compensation or other arrangements with the relevant Funds. In certain cases, determinations to
allocate such amounts or investment opportunities to vendors or service providers will be made prior
to the determination of the availability of opportunity for other co-investors, and as such generally
will decrease the amount of co-investment opportunities available. Frontenac’s exercise of discretion
in allocating co-investment opportunities will not result in proportional allocations among such co-
investors and such allocations can be more or less advantageous to some co-investors relative to other
co-investors. In such circumstances, the size of the investment opportunity otherwise available to
Frontenac’s Fund(s) is less than it would otherwise have been without the inclusion of such co-
investors.

Although co-investments typically involve investment and disposal of interests in the applicable
portfolio company at substantially the same time and on substantially the same terms as the Fund
making the investment, co-investors are subject to different economic terms than the Fund. From
time to time, for strategic and other reasons, a co-investor purchases a portion of an investment from
one a Fund after such Fund has consummated its investment in the portfolio company (also known
as a post-closing sell-down or transfer). Post-closing sell-downs are generally funded through the
Fund’s investor capital contributions and/or use of a Fund credit facility. Any such purchase from a
Fund by a co-investor generally occurs shortly after the Fund’s completion of the investment to avoid
any changes in valuation of the investment; however, in certain instances, a post-closing sell-down or
transfer could occur well after the Fund’s initial purchase. When co-investors purchase their interest
from a Fund after the Fund has consummated the investment, the price paid by co-investors is
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