General Catalyst Group Management LLC

Item 5. Fees and Compensation

The Adviser or its affiliates generally receive Advisory Fees and Carried Interest (each as
defined below) or similar performance-based remuneration from a Fund. A Fund and its
portfolio companies may also make other payments to the Adviser or its affiliates for
services provided to the portfolio companies that, in certain circumstances, may reduce the
Advisory Fees payable to the Adviser, subject to the provisions of the applicable Fund’s
Organizational Documents. Additionally, consistent with the Organizational Documents of
a Fund, the Fund typically bears certain out-of-pocket expenses incurred by the Adviser in
connection with the services provided to the Fund or the portfolio companies. Further details
about certain common fees and expenses are set forth below.

Advisory Fees

As compensation for investment advisory services rendered to the Funds, the Adviser
generally receives from each such Fund an advisory fee (each, an “Advisory Fee”) typically
calculated based on committed capital, remaining invested capital, or fair market value of

the assets of such Fund. Advisory Fees may be reduced during the life of a Fund. Advisory
Fees paid by a Fund may also be reduced by other fees or compensation received by the
Adviser or its affiliates that relate to such Fund’s activities and investments, or by certain
organizational or other expenses borne by such Fund, as described in more detail below.
Advisory Fees paid by a Fund are indirectly borne by investors in such Fund. Advisory Fees,
and the particular mechanics of calculating such fees, vary Fund by Fund, a portion of which
may be payable quarterly in advance and a portion of which may be payable quarterly in
arrears.

The precise amount of, and the manner and calculation of, the Advisory Fees for each Fund
are established by the Adviser and are set forth in such Fund’s Advisory Agreement and
Organizational Documents received by each investor prior to investment in such Fund.
Generally, however, Advisory Fees of certain Funds will be calculated and charged on a
basis that generally is not tied to a Fund’s then-current net asset value. Certain Funds first
charge Advisory Fees based on committed capital, including, where applicable, a Fund
borrowing component (including interest expenses), and then require an adjustment to the
Advisory Fee (a “Stepdown”) after the Fund’s investment period that requires the Advisory
Fee base to switch from committed capital to the Fund’s aggregate cost of remaining
investments not yet realized for tax purposes reduced by any Cumulative Net Write Downs
(as defined below). Certain other Funds only charge Advisory Fees on the aggregate cost of
investment (including, where applicable, a Fund borrowing component (including interest
expenses) and the amount of any capitalized Other Fees (as defined below) or expenses)
reduced by any Cumulative Net Write Downs. The “Cumulative Net Write Down” refers to
whether the overall value of the portfolio holdings of the Fund has been written down to less
than their original purchase price relative to the overall value of the portfolio holdings that
have been written up in value, which results in the Advisory Fee base for Funds in the
Stepdown being calculated off of the lower of aggregate cost or fair value. Certain other
Funds charge Advisory Fees based on the lower of committed capital and aggregate cost of
investments not disposed of or fully written down while other Funds charge Advisory Fees
based directly on the aggregate costs of investments (including, where applicable, the value
attributable to a Fund borrowing component), without reference to the fair value of the
investments. Due to potential differences in the criteria set forth in their respective
Organizational Documents, in the event where more than one Fund participates in an
investment, there is the possibility that an impaired investment will result in a reduction of
Advisory Fees for purposes of one Fund’s Organizational Documents but not those of one
or more other Funds.

As a result, the amount of Advisory Fees will not generally correspond with fluctuations in
the net asset value of individual investments or of a Fund, including following the relevant
investment period, and will not be reduced in connection with any write-downs, except in
the case of a Cumulative Net Write Down for the Fund (where applicable) or investments
permanently written off for tax purposes. Except where the Organizational Documents
expressly provide to the contrary, Advisory Fees will not be reduced (in whole or in part) in
the case of partial sales or distributions or reorganizations, restructurings, recapitalizations
(including recapitalizations involving dividends), roll-over investments, extraordinary
dividends or similar transactions, or in circumstances where one or more other Fund(s)
divest their respective investment(s) (including credit investments) in the relevant portfolio

company, whether in whole or in part, 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 the Fund’s investment or the Fund’s ownership percentage in such investment has
been reduced (including substantially reduced) as a result of such transaction.

In many circumstances, the post-Stepdown Advisory Fee base will include capitalized
transaction-specific fees and expenses of unrealized investments, including certain fees
(such as Other Fees) and expenses paid to third parties, the Adviser or its affiliates. Further,
Advisory Fees generally will not be reimbursed or refunded under the Organizational
Documents in the event of realizations, dispositions or write-downs that occur partway
through the relevant calculation period.

The Advisory Fees and other fees and distributions described herein are generally subject to
modification, waiver, or reduction by the Adviser in its sole discretion, both voluntarily and
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Item 7. Types of Clients

The Adviser currently provides investment supervisory services to the Funds. Investment
advice is provided directly to the Funds (subject to the direction and control of the general
partner of each such Fund, if applicable) and not individually to investors in such Fund.

Interests in the Funds are offered pursuant to applicable exemptions from registration under
the Securities Act and the 1940 Act. Investors in Funds are generally “qualified purchasers”
as defined in the 1940 Act, and may include, among others, high net worth individuals
(including certain XIRs and Catalyst Advisors), banks, thrift institutions, pension and profit-
sharing plans, trusts, estates, charitable organizations, university endowments, sovereign
wealth funds, insurance companies, fund-of-funds, corporations, limited partnerships, and
limited liability companies or other entities.

The Adviser does not have a minimum size for a Fund, but minimum investment
commitments may be established for investors in the Funds. The general partner of each
Fund may in its sole discretion permit investments below the minimum amounts set forth in
the Organizational Documents of such Fund.