Human Capital Investment Management LLC

ITEM 5: FEES AND COMPENSATION

Fees generally are paid as set forth in each Funds’ Governing Documents. The information
contained herein in this Item 5 is a summary only and is qualified in its entirety by the relevant
Governing Documents. It is important that current and potential future Limited Partners refer to the
relevant Governing Documents for a complete understanding of expenses and fees they may pay
through an investment in any such Fund or SPV.

Management Fees and Carried Interest

HCIM is compensated for its advisory services generally through commitment-based management
fees (“Management Fees”). With respect to the Funds that are not SPVs, the Management Fee
ranges between 2.00% and 2.50% per annum of the aggregate capital commitments of the Limited
Partners. As set forth in the applicable Governing Documents, the Management Fee for certain of
such Funds will be reduced by 0.25% per year following the fifth (5th) anniversary of its initial
contribution date until the Management Fee is equal to 1.50% per annum. Some Limited Partners
may receive discounts to Management Fees in connection with certain negotiated Side Letters.
Please refer to Item 8, for additional information.

In addition, the General Partners of the Funds that are not SPVs are entitled to receive
performance-based profit distributions (referred to as “carried interest”). Subject to the terms and
limitations set forth in the applicable Governing Documents of each such Fund, the relevant
General Partner generally is entitled to receive carried interest distributions equal to 20.00% of all
realized profits. The carried interest distributed to a General Partner is subject to a potential
clawback as provided in the Governing Documents if the General Partner has received excess
cumulative distributions.

The SPVs are generally subject to a one-time upfront Management Fee on capital commitments
equal to 2.00% of each capital contribution. Additionally, subject to the terms and limitations set
forth in the applicable Governing Documents, each SPV’s General Partner generally is entitled to
receive carried interest distributions from the SPVs equal to 20.00% of realized profits.

The Management Fees and carried interest distributions are generally not negotiable; however, the
Adviser, in its sole discretion, may waive or modify the Management Fees or carried interest
distribution percentages for certain Limited Partners as set forth in the applicable Governing
Documents or negotiated Side Letters.

Funds will typically pay a Management Fee to the Adviser in advance. The Management Fee is
generally prorated with respect to any partial calculation period.

Management Fees paid by a Fund are indirectly borne by the Limited Partners of such Fund.
Management Fees are typically funded by allocating portions of capital contributions for such
purpose, but may also be funded by withheld proceeds from portfolio company investments or
reserves or other assets of the Funds. Management Fees due from a Fund may also be paid by
drawdowns under such Fund’s subscription loan facility (if available), which are subsequently
repaid out of capital contributions, proceeds, or reserves.

Carried interest distributions generally will be distributed to the applicable General Partner from
time to time upon the receipt of proceeds in respect of portfolio company investments by a Fund or
SPV (including as a result of the disposition of such portfolio company) and are distributed to such
General Partner in accordance with the terms of the applicable Governing Documents.

It should be noted that any Fund or SPV launched by the Adviser after the date of this Brochure
may have materially different terms than those summarized above and any terms for any existing
Funds may be amended from time to time.

Expenses

Adviser Expenses. To the extent provided in the Governing Documents, the Adviser is responsible
for its normal overhead and administrative expenses, including: (i) salaries and wages of its
employees, (ii) rentals payable for space used by the Adviser, and (iii) expenditures for equipment
used by the Adviser, except in certain instances when such expenses are allocated to the cost of
operating the HC Fellowship Program, Entrepreneur-In-Residence (“EIR”) Program, Future
Founders Summit, or any similar or successor programs, as described further in Item 8, below.

Fund and SPV Expenses. Each Fund and SPV bears all fees, costs, expenses, liabilities, and
obligations relating to its activities and operations in accordance with its respective Governing
Documents. Generally, these fees, costs, and expenses may include, without limitation: (i) the
actual or proposed investigation, diligence, purchase, holding, custody, or sale or exchange or other
disposition of securities (whether or not such purchase, sale, exchange or other disposition is
ultimately consummated), including reasonable private placement and finder’s fees in
contemplation of an investment by the Funds paid to persons other than the General Partner or
members of the General Partner or any of their affiliates; (ii) any travel, including air travel
(including first-class or first-class equivalent air travel), car or ride sharing services, other modes of
transportation, meals, lodging, and entertainment, and other meals and entertainment relating to any
of the foregoing, including in connection with (A) investor-related services, (B) consummated and
unconsummated investment and disposition opportunities, and (C) services provided by
representatives (i.e., employees and contractors) of the Adviser or its affiliates to current and
prospective portfolio companies; (iii) activities with respect to identifying, sourcing and pursuing,
structuring (including with respect to any entity formed to effect the acquisition and/or holding of a
potential investment), organizing, negotiating, consummating, financing, refinancing, diligencing
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ITEM 7: TYPES OF CLIENTS

The Adviser provides discretionary investment advice solely to the Funds, as described in Item 4
above. The Funds include investment partnerships and/or other investment entities formed under
domestic or foreign laws and operated as exempt investment pools under the Advisers Act.
Investment advice is provided directly to the Funds (subject to the discretion and control of the
General Partners of the Funds) and not individually to Limited Partners in the Funds. Limited
Partners in the Funds will be required to be “accredited investors” within the meaning of Rule
501(a) under the Securities Act, and are generally “qualified purchasers” within the meaning of
Section 2(a)(51) under the Securities Act.

The Adviser does not currently have a minimum investment size for its Funds.