Galvanize Climate Solutions LLC

Item 5. Fees and Compensation
One or more affiliates of Galvanize serves as general partner or managing member for each Fund.
The general partner of a Fund may in its sole discretion agree to accept an alternative fee
arrangement to the amounts described below with respect to any investor. Galvanize can be
expected to organize additional Funds in the future with fees and expenses that may differ from
the below.

Galvanize’s Management Fees and Carried Interest Allocations

Galvanize (or an affiliate) earns a management fee and carried interest allocation from each
Fund with respect to each investor in the Fund. Management fees and carried interest allocations
are generally set at the time the Fund is organized. The details of the management fees and
carried interest allocations are set forth in the Fund’s governing and offering documents.
Management fees are generally payable in quarterly installments in advance.

Closed-End Strategies

An investor in a Fund with a seed, venture or growth strategy generally pays a management fee
up to approximately 2.5% per annum of committed capital up until the end or early termination
of a Fund’s investment period; and generally up to approximately 2.5% per annum of the
aggregate purchase price of investments held by the Fund, subject to certain reductions in value
of investments, after the investment period. The general partner of a Fund with such strategy
generally earns a 20.0% carried interest allocation on profits from each investor.

An investor in a Fund pursuing a credit strategy will generally pay a management fee up to 1.5%
per annum on invested capital. The general partner of a Fund with a credit strategy also generally
earns a 20.0% carried interest allocation on profits, usually above a 7% hurdle, from each
investor.

An investor in a Fund with a real state strategy generally pays a management fee of
approximately 1.5% per annum of committed capital until the expiration of a Fund’s investment
period; thereafter, a Fund generally pays approximately 1.5% per annum of such investor’s
aggregate investment contributions plus such investor’s share of investments for which the Fund
has made commitments or other reserves to complete investments by the Fund. The general
partner of a Fund also generally earns up to 15.0% in carried interest allocation, usually above
a 7% hurdle rate, on profits from each investor, one-third of which is tied to the general partner’s
accomplishments against five sustainability goals, or its key performance indicators (“KPIs”).
80% of the general partner’s KPI-linked incentive is based on achieving quantitative reductions
in operational greenhouse gas emissions.

Open-End Strategies

The management fee varies for Funds with open-end strategies. Depending on the class, the
management fee is up to 1.25% annually on an investor’s capital account in a Fund or on the
net asset value of such class. For certain classes, the general partner of a Fund also generally

Galvanize Climate Solutions LLC

earns an incentive allocation equal to 15% of a Fund’s outperformance over a specific index,
hurdle rate or benchmark, subject to underperformance carryforwards for any year the Fund did
not exceed its index, hurdle rate or benchmark. The Funds’ incentive allocation structure is a
modified version of what is generally known as a “high water mark.”

Galvanize may, in its sole discretion, reduce or waive management fees and carried interest with
respect to a particular investor, including investors who are affiliated with Galvanize. Future
Funds are expected to have different fee structures.

Fund Expenses

A Fund will pay its own operating expenses, and investors in the Fund will indirectly bear a
proportionate share of those expenses.

Expenses borne by the Funds include, but are not limited to, costs and charges incurred, directly
and indirectly, in connection with the formation, management, operation, maintenance and
liquidation of the Funds, which include, among other fees and expenses, the following: legal
expenses; accounting, tax, consulting and audit expenses; custodian and administration expenses;
investment expenses; taxes, fees or other governmental charges; the cost of liability and other
insurance premiums; litigation and indemnification costs and expenses; and other expenses not
listed.

Details regarding expenses can be found in the governing documents of the applicable Fund.

KHALL

Certain of KHALL’s clients are charged a management supervisory fee of up to 0.35% of the
client’s net asset value, and other clients are subject to an incentive allocation of up to 1% of the
client’s returns. In addition, KHALL’s clients are subject to expenses associated with their
operation and administration, and also indirectly bear expenses of the underlying funds in which
they are invested. Under a services agreement, KHALL agrees to pay Galvanize a fixed amount
per calendar year for the compliance program administration services that the Galvanize
compliance team provides to KHALL. KHALL’s clients either reimburse KHALL or pay
Galvanize directly for the amount of these services.

Item 7. Types of Clients
As described above in Item 4, Galvanize provides investment advisory services to Galvanize-
sponsored Funds, including pooled investment vehicles, funds-of-one, co-investment vehicles
and UCITS or sub-funds of UCITS. The investment advisory services provided to each Fund are
based on the investment objectives and restrictions set out in the Fund’s offering and governing
documents. Fund investors generally must meet the standards of “accredited investors” under
the Securities Act, “qualified clients” under the Investment Advisers Act of 1940, as amended
(“Advisers Act”), and “qualified purchasers” under the Investment Company Act.

The Funds generally require minimum investments, subject to the Funds’ general partner’s right
to waive the minimums.

Closed-End Strategies

The minimum investment amount for a Fund with a closed-end strategy varies by Fund and is
disclosed in the relevant offering and governing documents. However, the minimum investment
amount for a Fund with a seed, venture, growth, or credit strategy generally ranges from
$250,000 to $5,000,000. The minimum investment amount for a Fund with a real estate strategy
is generally $1,000,000.

Open-End Strategies

The minimum investment amount for a Fund with an open-end strategy varies by Fund, depends
on the share class and is disclosed in the relevant offering and governing documents. However,

Galvanize Climate Solutions LLC

the minimum investment amount for a Fund with an open-end strategy generally ranges from
$10,000 to $250,000.