Grove Street Advisors LLC

Item 5 – Fees and Compensation

All GroveStreet fees are subject to negotiation. GroveStreet is not required to provide a fee schedule as
all investors are qualified purchasers.

The specific manner in which fees are charged by GroveStreet is established in each Program’s limited
liability company operating agreement or limited partnership agreement. Each Program pays an
investment advisory or management fee to GroveStreet which is typically payable quarterly, in advance,
at the beginning of each quarter. GroveStreet calls capital to fund the payment of investment advisory or
management fees. Accounts initiated during a calendar quarter will be charged a prorated fee. Refunds
of investment advisory or management fees paid in advance are subject to negotiated terms regarding
termination.

GroveStreet’s fees are exclusive of third party audit and tax preparation fees, legal fees, stock distribution
management fees, brokerage commissions, transaction fees, and other related costs and expenses, such as
charges imposed by custodians, wire transfer and bank fees, and other fees and taxes, which are incurred
by the Program. GroveStreet does not receive any portion of these commissions, fees or costs.

Each Program’s legal agreement states the types of expenses that are paid by the Program and those that
are the responsibility of GroveStreet.

Item 12 further describes how GroveStreet works with broker-dealers for client transactions.

Item 7 – Types of Clients

As described in Item 4 above, GroveStreet provides portfolio management services to Programs. The
investors in such Programs include family offices and U.S. and international institutional investors,
including state or other governmental pension plans, private pension plans, sovereign wealth funds,
financial institutions, insurance companies, and non-profit organizations. GroveStreet generally seeks to
establish Programs with commitments of at least $100 million, but has established Programs with smaller
commitments.