Greenbrook Management LLC

Item 5.      Fees and Compensation

The agreements governing the Funds, such as the confidential private placement memorandum, limited
liability agreement, limited partnership agreement (or other relevant constituent document) and
investment management agreement (collectively, the “Governing Documents”), which were provided to
Fund investors prior to their commitment or investment in the Funds, contain detailed information about
the Adviser’s fees.

Management Fee

The Adviser receives an asset-based management fee from the Funds ranging from 0% to 1% per
annum for its services (the “Management Fee”), as further described in the Funds’ Governing
Documents. The Management Fee is generally paid quarterly in arrears or at such other frequency as
agreed to between the Adviser and the relevant Fund.

Carried Interest

The Adviser (or its affiliate) receives a carried interest allocation (the “Carried Interest”) entitling it to
approximately 15% to 30% of a Fund’s profits as further described in the Funds’ Governing Documents.

Property Management Fee

An affiliate of the Adviser receives a property management fee ranging from 3% to 4% of the gross rents
actually collected (the “Property Management Fee”) as further described in the Fund’s Governing
Documents.

Development Fee

An affiliate of the Adviser receives a construction management development fee ranging from 4% to 5%
of budgeted construction project costs (the “Development Fee”) as further described in the Fund’s
Governing Documents.

In addition to paying the Management Fee, Carried Interest, Property Management Fee, and
Development Fee, the Funds will also be subject to other expenses in accordance with the Fund’s
Governing Documents such as bookkeeping, tax preparation and legal and administrative expenses.

The allocation of expenses by the Adviser between it and any Client and among Clients represents a
conflict of interest for the Adviser. The Adviser has adopted an expense allocation policy that is designed
to address this conflict. The Adviser allocates expenses to each Client in accordance with the Client's
arrangements with the Adviser (including applicable Client disclosures). The Adviser seeks to allocate

shared expenses for products and services benefitting the Adviser and the Client and not covered in the
Client's arrangements in a fair and reasonable manner. The Adviser allocates common Client expenses
among multiple Clients. The Adviser may deviate from this standard allocation method if it determines
that an expense disproportionately benefits a particular Client or group of Clients.

Item 7.     Types of Clients

The Adviser’s clients consist of the Funds. Any investment minimum with respect to a Fund are disclosed
in the Fund’s Governing Documents.