HLM Management Co LLC

Item 5. Fees and Compensation

For the Partnerships, HLM will receive a management fee and performance-based fees for providing
investment advisory and administrative services.

Management fees are generally payable in quarterly installments in advance, and any payment for a
period of less than three months is adjusted on a pro rata basis according to the actual number of days
during the period. As discussed in Item 14, management fees may be reduced by fees and certain
items of compensation received by HLM or its affiliates.

See Item 6 for a discussion of performance-based fees. The performance-based fee and management
fee may be deferred, waived, or reduced at the discretion of HLM.

The Partnerships pay certain organizational expenses, such as audit, tax and legal fees, and liability
insurance, as mentioned in the Partnerships’ offering documents.

Item 7. Types of Clients

HLM currently provides advisory services to seven venture capital and growth equity partnerships –
HLM VENTURE PARTNERS III, LP; HLM VENTURE PARTNERS IV, LP; HLM VENTURE
PARTNERS V, LP; HLM INVESTMENT PARTNERS VI, LP; HLM CO-INVEST I, L.P.; HLM
STRATEGIC INVESTMENT FUND, LP; and HLM VM SPV, LP. The Partnerships operate as
pooled investment vehicles intended to provide management expertise and other advantages to its
portfolio company investments.

Investors will be required to make certain representations when investing in a Partnership, including,
but not limited to, that (i) they are acquiring an interest for their own account, (ii) they received or
had access to all information they deem relevant to evaluate the merits and risks of the prospective
investment, and (iii) they have the ability to bear the economic risk of an investment in the Partnership.
Each investor in a Partnership will be furnished with a copy of the respective partnership agreement
(the “Partnership Agreement”) and other governing documents.

Details concerning initial and additional subscription minimums for each Partnership are disclosed
in the respective Partnership Agreement.