Harvest Capital Strategies LLC

ITEM 5: FEES AND COMPENSATION
The Funds

Each Fund generally pays us a management fee at the beginning of each calendar quarter. Those fees are
generally equal to a specified percentage (a “Quarterly Fee Rate”), multiplied by either the net asset value
of investors’ holdings in the Fund or, for certain of our Private Equity Funds, the value of the investors’
capital commitments to that Fund during the commitment period and invested capital thereafter. Depending
on the Fund, our Quarterly Fee Rates generally range from 0.25% per quarter (or 1.00% per year) to 0.50%
per quarter (or 2.00% per year).

Private Equity Funds pay management fees equal to 2% of capital commitments during the commitment
period and 2% of invested capital thereafter.

In addition, the Affiliated GPs of certain of our Private Equity Funds are entitled to receive incentive- or
performance-based compensation from the Funds (“Incentive-Based Compensation”) in the form of a
carried interest distribution generally equal to 20% of the investment proceeds distributable by the Fund in
excess of the capital invested by the Fund’s limited partners and their allocable share of fees and expenses.
In addition, for certain Private Equity Funds, Incentive-Based Compensation, if any, will be paid only upon
a return of capital with regard to the particular investment to participating investors.

For each period and for each Fund, the foregoing fees are the aggregate of amounts calculated separately
for each investor or group of investors in each Fund. They are not generally negotiable, but our agreements
with the Funds give us the authority to vary them for particular investors. Once paid, Incentive-Based
Compensation will not be reduced by losses incurred in later periods.

Other Expenses

Each Fund also pays all of the expenses of its administration and operation. These expenses generally
include, among other things:

        •   brokerage commissions;
        •   interest on margin and other borrowings;
        •   borrowing charges on securities sold short;
        •   investment transaction costs;
        •   custodial fees;
        •   bookkeeping, accounting and audit fees and expenses;
        •   legal fees;
        •   expenses that we incur for investment research and due diligence;
        •   tax preparation fees;
        •   other professional fees;
        •   governmental fees and taxes;
        •   travel and travel-related expenses that we incur in connection with investment activities
            (including attending professional investment and industry specific conferences);
        •   costs of reporting to investors;
        •   cost of governance activities (such as obtaining investor consents); and
        •   all other reasonable expenses related to the management and operation of the Fund or the
            purchase, sale or transmittal of Fund assets, all as we determine in our sole discretion.

Each Fund also bore certain costs in connection with its organization and the initial offering and sale of
ownership interests in it, and each Fund also continues to bear the costs of its ongoing offering of those
ownership interests (if applicable).

We may advance costs described above for a Fund and the Fund must reimburse us.

We provide office personnel and space required for the performance of our services for the Funds. The
Funds do not reimburse us for doing so (except to the extent of our Incentive-Based Compensation as
described above).

For a more detailed discussion of Harvest’s brokerage practices and transaction costs, please refer to “Item

ITEM 7: TYPES OF CLIENTS
Harvest provides investment advisory services to pooled investment vehicles operating as private
investment funds. In addition, we provide Research Services to Research Clients as discussed in Item 4,
above.

Generally, investors in the Funds are required to be “accredited investors” within the meaning set forth in
Rule 501(a) of Regulation D under the Securities Act and “qualified clients” as defined in Rule 205-3 under
the Advisers Act. In addition, investors in certain of the Funds are required to be “qualified purchasers” as
defined in section 2(a)(51)(A) of the Investment Company Act. Each Fund imposes certain minimum

investment requirements and investor eligibility criteria, which are detailed in each Fund’s offering
materials and other governing documents, which are furnished to each investor.