HAUN Ventures Management LP

Item 5. Fees and Compensation

As further set forth in the Funds’ Organizational Documents, the Adviser receives Management
Fees and Carried Interest (each as defined below) in connection with providing advisory services
to the Funds. Additionally, consistent with each Fund’s Organizational Documents, the Funds bear
certain out-of-pocket expenses incurred by the Adviser in connection with the services provided
to the Funds and/or their portfolio companies. Further details about such fees and expenses are set
forth below.

Management Fee

The Adviser receives a Management Fee (a “Management Fee”) calculated based on a Fund’s
committed capital, invested capital, aggregate acquisition cost of Fund investments, or net asset
value, as further described in the Organizational Documents. Management Fees paid by a Fund
are indirectly borne by investors in such Fund. Management Fees paid by a Fund are reduced
(“offset”) by certain other fees or compensation received by the Adviser 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.

Management Fees are generally paid quarterly in advance. The precise amount of, and the manner
and calculation of, the Management Fees for each Fund are set forth in each Fund’s Organizational
Documents. The Management Fees and other fees and distributions described herein are generally
subject to modification, waiver, or reduction by the Adviser in its sole discretion. A waiver does
not obligate the Adviser to waive fees in the future. As a general matter, Management Fees will be
payable during term extensions unless otherwise agreed with investors. Installments of the
Management Fee payable for any period other than a full quarterly period are adjusted on a pro
rata basis according to the actual number of days in such period.

As further specified in the Organizational Documents, from the effective date of the relevant Fund
until the dissolution of the Fund as specified in the Organizational Documents (the “Stepdown
Date”), Management Fees generally will be charged based on a formula tied to the amount of the
relevant Fund’s aggregate commitments. Following the Stepdown Date, Management Fees
generally will be charged and calculated based on a formula tied to the amount of investment
contributions (including, where applicable, a Fund borrowing component and related interest
expenses) made by the relevant Fund relating to individual investments or the net asset value of
the investments, as applicable.

Under the Organizational Documents, where the fair market value of an investment exceeds the
total amount of investment contributions relating to such investment, the Management Fees will
not be calculated based upon such appreciated value and will instead continue to be calculated
based on the amount of the relevant Fund’s aggregate commitments. Conversely, prior to the
Stepdown Date, the relevant Organizational Documents do not require Management Fees to be
reduced or refunded following the occurrence of a decrease (including a significant decrease) in
fair value. After the Stepdown Date, if the net asset value of the investments held by a Fund and
not disposed of is less than the total amount of investment contributions, then the amount of
Management Fees otherwise payable relating to such investment will be based on its net asset

value, resulting in a reduction in Management Fees as compared to the amount of Management
Fees based on the total investment contributions relating to such investment.

As a result, in circumstances where the Fund’s Management Fee is tied to aggregate commitments
or investment contributions, the amount of Management Fees will not 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 decrease (including a
significant decrease) in fair value prior to the Stepdown Date.

Certain investors in the Funds, including employees, business associates, and other “friends and
family” of the Adviser or its officers and employees (“Adviser Personnel” and such investors,
collectively, “Adviser Investors”), typically will not pay Management Fees or Carried Interest in
connection with their investment in a Fund. Notwithstanding that Adviser Investors generally will
not pay Management Fees, Adviser Investors typically will bear their pro rata share of Fund
expenses.

In addition, while the Adviser currently does not anticipate receiving transaction fees, monitoring
fees, consulting fees, director’s fees, or other directorship-related compensation, break-up fees, or
similar fees from actual or prospective portfolio companies of the Funds (“Other Fees”), to the
extent the Adviser receives such Other Fees, the Management Fees paid by a Fund generally will
be reduced by up to the full amount of such Other Fees, as set forth in the Organizational
Documents of the Funds.

To the extent a Management Fee reduction occurs and relates to more than one Fund, the Adviser
expects to allocate the resulting Management Fee reduction among the applicable Funds in
proportion to their interest (or prospective interest) in the relevant investment on a fully-diluted
basis, or in such other manner as the Adviser determines to be appropriate under the circumstances.
As a result, only the applicable Fund’s allocable portion of such Other Fees shall be included in
calculating such Management Fee reduction.

Generally, the portion of Other Fees allocable to the relevant General Partner or affiliated partner
commitments or capital invested by a co-investment vehicle or third-party co-investor, in each
case, that does not pay Management Fees, will be retained by the Adviser and such amounts will
not offset any Management Fee. Depending on the timing of receipt of compensation subject to
...

Item 7. Types of Clients

The Adviser currently provides investment supervisory services to investment vehicles or Funds
as described in Item 4. Investment advice is provided directly to the Funds (subject to the direction
and control of the Adviser) and not individually to investors in the Funds.

Interests in the Funds are offered pursuant to applicable exemptions from registration under the
Securities Act and the 1940 Act. Investors in the Funds are generally “qualified purchasers” as
defined in the 1940 Act, and include, without limitation, high-net-worth individuals, funds-of-
funds, pension and profit-sharing plans, trusts, estates, charitable organizations, university
endowments, corporations, limited partnerships, limited liability companies or other entities.