HRTG GPE LLC

Item 5. Fees and Compensation

Advisory Fees

As compensation for investment supervisory services rendered to the Main Fund, the Adviser will
be entitled to receive advisory fees (“Advisory Fees”) from the Main Fund, payable quarterly in
advance on the first day of each calendar quarter, and calculated as a percentage of the

aggregate capital account balances of the investors in the Feeder Funds as of such date. The
Main Fund has two series of investor interests, “Series A Interests” and “Series B Interests” (each,
a “Series”). Series A and Series B Interests bear Advisory Fees at different rates. Investors who
make (or increase) a capital commitment to the Main Fund will be required to designate the Series
to which all or a portion of any such capital commitment is made at the time of their subscription
or increase. The Adviser may elect from time to time to offer additional Series and/or restrict the
offering of new interests in the Main Fund to only one or more Series. Advisory Fees will be
calculated taking into account any contributions, distributions or withdrawals as of such date.

A pro-rated Advisory Fee will be assessed on any capital contributions to the Main Fund accepted
as of any date other than the first day of a fiscal quarter.

The Adviser is authorized to, and does, deduct any and all fees and expenses (including, with
respect to the Main Fund, the Advisory Fee) when due from the assets of the Funds. Amounts
corresponding to those payments will be automatically deducted from the capital accounts of the
investors. Proportionate shares of fees and expenses paid by the Master Funds (including, e.g.,
advisory and performance fees and expenses of underlying managers) are borne by investors in
the Feeder Funds.

With respect to any withdrawal from the Main Fund, Advisory Fees and a reasonable share of
expenses, which will be determined by HRTG in good faith, will continue to be paid or accrued on
the assets of a withdrawing investor’s account and will be calculated based on the investor’s
liquidating sub-account created in connection with the withdrawal, if any. Advisory Fees will not
be refunded in connection with a withdrawal. The process of withdrawal and the associated fees
and expenses are described in detail in the Governing Documents and should be reviewed by
investors prior to their investment.

At the annual election of the Adviser, all or a portion of the Advisory Fees may be replaced by a
special priority allocation and distribution of Feeder Fund profits to the Adviser. Pursuant to such
election, the Adviser may be required to return distributions received in lieu of the Advisory Fee if
the Feeder Funds fail to generate sufficient items of profit.

The precise amount of, and the manner and calculation of, the Advisory Fees for the Main Fund
are established by the Adviser and are set forth in the Partnership Agreements and/or Governing
Documents of the Feeder Funds, and may be modified from time to time. Fees may differ among
investors in the Feeder Funds (in addition to Advisory Fee differences as between the Series, as
noted above). The Adviser may, in its sole discretion and at any time, waive all or any portion of
the Advisory Fee with respect to certain investors, including investors who are employees, former
employees, or employees of related persons or former related persons of the Adviser. Any such
waiver will reduce the overall Advisory Fees paid to the Adviser, but will not reduce the fees paid
by any investor whose fees are not waived or otherwise specifically reduced.

The existing CIFs and SPEs do not, as of the date of this Brochure, pay the Adviser any Advisory
Fees. However, the CIFs and certain SPEs have charged, and may in the future charge, carried
interest, which is described in Item 6 below. Any carried interest owed by investors in a CIF or
SPE was, or will be, paid by deducting such amounts from the investors’ capital accounts if and
when due in accordance with the terms of such CIF’s or SPE’s Governing Documents. The fee
terms of any CIF or SPE, including any Advisory Fees and carried interest, will be negotiated on
a vehicle-by-vehicle basis and will be described in the Governing Documents of each CIF and
SPE. These fees could include asset-based fees and expense reimbursements, carried interest,
performance fees or such other fees as may be negotiated with the Adviser from time to time.

Except as described in the Governing Documents of the applicable CIF or SPE, the Adviser will
not be required to charge fees to CIFs and SPEs and fees paid by the CIFs and SPEs will not
offset the Advisory Fees payable by any Fund.

Advisory Fee Offsets

The Advisory Fees payable by the Main Fund to HRTG will be reduced by an aggregate amount
equal to one hundred percent of any transaction, commitment, break-up, advisory, syndication,
guarantee, directors, officers, management and other fees (net of any applicable expenses) paid
by an underlying fund or portfolio company to HRTG (or any managing member of HRTG) that
would not, if earned directly by a Feeder Fund, cause such Feeder Fund to cease to qualify as an
“investment partnership” under the U.S. Internal Revenue Code of 1986, as amended (the
“Code”). For the avoidance of doubt, any such fees paid to HRTG or any managing member of
HRTG after the Main Fund has exited (or is in the process of exiting) an investment do not reduce
the Advisory Fee. The Advisory Fees will not be offset by directors’ fees received from a publicly
traded issuer, provided that the fees do not exceed the fees paid to the company’s outside
directors generally. From time to time, the Adviser may maintain any fees received that are subject
to offset in accounts that bear interest before the amount of such fees offset the Advisory Fee.
Any such interest does not reduce the Advisory Fees or otherwise benefit the Main Fund or its
investors. The Advisory Fees paid by the Main Fund will generally also be reduced by: (1) the
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Item 7. Types of Clients

The Adviser currently provides investment supervisory services to the Funds. Investment advice
is provided directly to the Funds 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. Interests in the Feeder Funds generally are offered to persons
that are (i) “accredited investors,” as defined in Regulation D under the Securities Act and
(ii) “qualified purchasers” (as defined in the 1940 Act) or are otherwise qualified to invest in a
“3(c)(7) fund,” and that meet other qualifications established by the Adviser, and may include,
among others, high net worth individuals, pension plans, trusts, estates, charitable organizations,
university endowments, corporations, limited partnerships and limited liability companies or other
entities. Certain of the Funds are exempt from registration in reliance on Section 3(c)(1) of the
1940 Act and whose investors may not be, at the time of their investment, “qualified purchasers.”

Prospective investors should note that the Governing Documents indicate that the Adviser
generally requires certain minimum investment amounts for investors in the Funds. These initial
investment and/or capital commitment minimums for the Funds are subject to reduction or waiver,
and have been reduced or waived, at the Adviser’s sole discretion. The Governing Documents
for the CIFs and SPEs contain additional restrictions on amounts that investors are permitted to
commit to those vehicles.