HOBE Mountain Capital Management LLC

ITEM 5 – FEES AND COMPENSATION

Management Fees. Clients will pay Hobe Mountain Capital a management fee, payable quarterly in advance
of up to 0.50% annually. Management fee rates, payment timing and calculation methods are described in
the applicable investment management and advisory agreement. The management fees are calculated
utilizing prior year-end asset valuations that are not immediately available for certain investments and as
such, estimated asset valuations are necessary. Subsequent quarterly invoicing corrects for any deviation of
the estimated asset valuations from finalized actual year-end asset valuations.

Other Expenses. Hobe Mountain Capital’s management fees are exclusive of other related costs and expenses
that are incurred by the Client. These other expenses are described in detail in the Family Office investment
management and advisory agreement. Other expenses paid directly to vendors or reimbursed to Hobe
Mountain Capital for expenses paid or incurred on behalf of the Client may include the following, among
other expense categories, without limitation:

    •   Investment-related expenses;
    •   Financing and borrowing costs;

    •   Organizational expenses;
    •   Insurance and risk management;
    •   Professional, legal and consulting fees related to the Client
    •   Accounting and tax compliance fees related to the Client;
    •   Expenses (including travel costs) related to deal sourcing and broken-deal expenses;
    •   Taxes and government fees;
    •   Third-party custody fees; and
    •   Fees and expenses of money market funds that hold cash balances

All fees paid to Hobe Mountain Capital for investment advisory services are separate and distinct from the
other expenses and non-advisory fees referenced above. More details related to the fees and expenses borne
by the Client are included in their respective governing documents or investment management and advisory
agreement.

ITEM 7 – TYPES OF CLIENTS

Hobe Mountain Capital provides investment management services to the Family Office.