Hull Street Energy LLC

Item 5             Fees and Compensation
A.      Hull Street Compensation

        The Governing Fund Documents of each Fund set forth in detail the fee structure relevant
to such Fund. Investors and prospective investors in the Funds should refer to the Governing Fund
Documents for the applicable Fund for a detailed description of the investment management fee
calculations and carried interest distributions. Specific fee disclosure is not provided in this
Brochure as all Clients are Qualified Purchasers, as defined under Section (2)(a)(51)(A) of the
Advisers Act.

B.      How Hull Street Collects Fees

        Hull Street typically receives compensation from fees based on a percentage of assets under
management, carried interest distributions, and payment of certain other fees or expenses as
disclosed in the Governing Fund Documents of each Fund. Investors should review carefully the
Governing Fund Documents of the applicable Fund to fully understand all of the fees and expenses
that will be incurred by such Fund.

         As compensation for investment advisory services rendered to the Funds, Hull Street
receives a management fee, charged quarterly in advance. Such management fee is payable on a
pro rata basis for any period that is less than a full quarterly period. Hull Street or an affiliated
entity, in its sole discretion, may waive or reduce the management fee to be paid by any Investor,
including Investors that are principals, employees or affiliates of Hull Street, or relatives of such
persons, and for certain large or strategic investors.

         Hull Street or an affiliated entity may also receive a carried interest or other performance-
based allocation from the Funds. The Funds are subject to a “European Style” distribution
“waterfall” under which aggregate capital contributions (in respect of realized and unrealized
investments) and a preferred return on capital contributions are paid or returned to limited partners
prior to performance-based distributions being made to Hull Street or an affiliated entity, subject
to prior “catch-up” distributions to Hull Street or an affiliated entity. Hull Street or an affiliated
entity may, in its sole discretion, waive or reduce the carried interest or other performance-based
distributions to be paid by any Investor, including Investors that are principals, employees or
affiliates of Hull Street, or relatives of such persons.

       An additional discussion of carried interest distributions is included in Item 6 –
Performance-Based Fees and Side-by-Side Management below. Additional information
surrounding potential conflicts of interest with respect to co-invest vehicles are further described
below in Item 10 – Other Financial Industry Activities and Affiliations.

C.      Other Fees and Expenses

       The Governing Fund Documents of each Fund set forth in detail the costs and expenses to
be borne by such Fund. In general, all costs and expenses related to a Fund’s operations will be
borne by that Fund. Fund expenses include the following costs, expenses and liabilities that are
incurred by or are related to the operation and activities of each Fund, as determined by the Fund’s

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general partner in good faith and subject in all cases to any limitations on such amounts set forth
in the Governing Fund Documents of such Fund: (a) the management fee charged by such Fund;
(b) the fees and expenses relating to consummated portfolio investments, unconsummated
investments and temporary investments, including the evaluation, structuring, acquisition,
development, licensing, permitting, holding and disposition thereof, to the extent that such fees
and expenses are not reimbursed by a portfolio company or other third person; (c) the fees and
expenses incurred by the Hull Street (or an affiliate thereof) prior to such Fund’s initial closing in
connection with unconsummated investments that were intended for such Fund, provided that such
intent was appropriately documented internally by Hull Street (or an affiliate thereof) at the time
of the review of such investment and disclosed to the limited partners participating in the initial
closing of such Fund prior to such closing (including, for the avoidance of doubt, up to $300,000
in respect of fees and expenses so incurred prior to the initial closing); (d) fees, costs and expenses
of procuring, developing, implementing and maintaining information technology, data
subscription and license-based services, risk analysis tools, research publications, materials,
equipment and services, computer software or hardware and other electronic equipment used in
connection with such Fund and its operation, administration and investment activities of such
Fund, and such Fund’s pro rata share of any such expenses to the extent that they are shared with
Hull Street or any of its affiliates, up to a maximum amount not to exceed $200,000 annually per
Fund unless the Advisory Committee of the applicable Funds otherwise consents to a larger
limitation with respect to any particular year; (e) interest on and fees and expenses related to or
arising from any indebtedness (including repayment of principal) or hedging activities of such
Fund; (f) required premiums for insurance protecting such Fund and any covered persons from
liabilities to third persons in connection with such Fund’s investment and other activities
(including directors and officers liability, fidelity bond, management liability, cybersecurity, errors
and omissions liability, crime coverage and general partnership liability premiums and other
insurance and regulatory expenses, including any costs and expenses related to any retention or
deductibles and broker fees, costs and commissions) and any consultants or other advisors utilized
in the procurement, review and analysis of insurance policies; (g) taxes fees and other
governmental charges levied against such Fund and all expenses incurred in connection with any
...

Item 7             Types of Clients
        As noted in Item 4, Hull Street provides portfolio management services to the Funds. In
the future, Hull Street may provide portfolio management services to additional investment
vehicles that operate as exempt investment pools under the Investment Company Act, as amended.
The Investors participating in Hull Street investment vehicles may include individuals, banks or
thrift institutions, sovereign wealth funds, pension and profit-sharing plans, trusts, estates,
charitable organizations or other corporations or business entities and also may include, directly
or indirectly, principals or other employees of Hull Street. Details concerning applicable suitability
criteria and minimum investment commitments are set forth in the respective Governing Fund
Documents. Hull Street, in its sole discretion, may waive or accept less than the minimum
investment commitment.

        Investors in the Funds qualify as both “accredited investors,” as defined under the
Securities Act, and “qualified purchasers,” as defined under the Investment Company Act, as
amended. Generally, an “accredited investor” includes (a) a person with an individual net worth,
or joint net worth with the person’s spouse, that exceeds $1,000,000 (excluding the value of such
persons primary residence) and (b) a person with income exceeding $200,000 in each of the two
most recent years or joint income with a spouse exceeding $300,000 for those years and a
reasonable expectation of the same income level in the current year. A “qualified purchaser”
generally includes a person who owns not less than $5,000,000 in investments or a company which
owns not less than $25,000,000 in investments.

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