Hack VC Management LLC

ITEM 5: FEES AND COMPENSATION

Management Fees

Fees generally are paid as set forth in each Fund’s Governing Documents. The information
contained herein in this Item 5 is a summary only and is qualified in its entirety by the
relevant Governing Documents. It is important that Investors refer to the relevant
Governing Documents for a complete understanding of expenses and fees they may pay
through an investment in the Funds.

The Adviser generally receives a management fee (the “Management Fee”) that is
generally charged in advance on a quarterly basis. The Management Fee received from a

Fund may be up to two and a half percent (2.5%) of the capital commitments of such Fund
per annum.

The Management Fees are generally not negotiable; however, the Adviser or General
Partners, in their sole discretion, may waive or modify the Management Fee percentages
for certain Investors.

Certain of the Funds have step down mechanics regarding its Management Fee. After
certain time periods, the Management Fee will decrease as described in each Fund’s
governing documents, as applicable.

Other Information

The Adviser or the General Partners are responsible for ordinary overhead and
administrative expenses, including compensation and expenses of the Adviser’s
employees, fees and expenses for administrative, clerical and related support services,
office space and facilities, utilities and telephone, insofar as they relate to the investment
activities of the Funds.

Each Fund bears costs and expenses relating to its activities and operations as provided in
each Fund’s Governing Documents. Generally, each Fund will bear all other expenses,
including portfolio investments (including legal and accounting fees and expenses, due
diligence, broken deal expenses, and other transaction costs incurred in connection with
Portfolio Companies and possible Portfolio Companies), liability insurance, ongoing
operating expenses (including administrative, which includes the cost of the Fund’s
administrator, legal and accounting fees and expenses), the Management Fee, annual
meeting expenses, expenses of attending Portfolio Company board meetings and other
Portfolio Company meetings. The foregoing list of expenses is not intended to be
exhaustive and is qualified in its entirety by the applicable Governing Documents of each
Fund.

From time to time, the Adviser or a General Partner will be required to decide whether
costs and expenses are to be borne by a Fund, on the one hand, and other vehicles advised
or managed by the Adviser, General Partner, or any of their respective affiliates, on the
other hand. The Adviser or General Partner will allocate such fees and expenses in its sole
discretion, but in a manner it believes in good faith to be fair and equitable, and in the best
interest of its clients.

In addition to advising the Adviser’s clients, key personnel of the Adviser from time to
time provide investment recommendations to certain special purpose vehicles and private
funds that are advised by investment advisers other than the Adviser. Such personnel may
receive management fees and carried interest from certain of those vehicles.

ITEM 7: TYPES OF CLIENTS

The Adviser provides investment advice to the Funds. The Funds include investment
partnerships or other investment entities formed under domestic or foreign laws and
operated as exempt investment pools under the Investment Company Act of 1940, as
amended (the “Investment Company Act”). The Investors participating in the Funds may
include individuals, banks or thrift institutions, other investment entities, university
endowments, sovereign wealth funds, family offices, pension and profit-sharing plans,
trusts, estates or charitable organizations or other corporations or business entities and may
include, directly or indirectly, principals or other employees of the Adviser and its affiliates
and members of their families.

The Funds may include alternative investment vehicles established from time to time in
order to permit one or more Investors to participate in one or more particular investment
opportunities in a manner desirable for tax, regulatory, accounting or other reasons.
Alternative investment vehicle sponsors generally have limited discretion to invest the
assets of these vehicles independent of limitations or other procedures set forth in the
organizational documents of such vehicles and the related Fund.

Interests of the Funds will generally be offered and sold only to investors that are “qualified
purchasers," as that term is defined under the Investment Company Act.