Hunter Private Capital Advisors LLC

Item 5: Fees and Compensation
As specified in each Private Fund’s offering documents, including each Private Fund’s limited
liability company agreement or limited partnership agreement, as the case may be, we typically
receive an annual investment management fee (the “Management Fee”) from each Private Fund
client as compensation for our advisory services, the terms of which are set forth in each Private
Fund’s offering documents and in our investment management agreement with each Private Fund.
The Management Fee we receive from each Private Fund is dependent upon the specific advisory
services and ranges from 0.25% or 25 basis points per annum to not more than 1% or one basis
point per annum of the aggregate investor capital commitments in each Private Fund, depending
upon the type of Private Fund (i.e., whether it makes an investment in one Underlying Private
Company, versus trading in a number of publicly traded securities, as in a hedge fund). Generally,
our Management Fee begins to accrue on the closing date for each Private Fund (or such later date
as the Private Fund Manager may determine in its sole discretion). The Management Fee is usually
be paid in equal quarterly installments, usually in advance, on the first business day of each quarter.
Any payment of the Management Fee in respect of a partial period will be prorated based on the
actual number of days in such period. The Management Fee is expected to be paid in proportion
to Private Fund investor capital accounts. Generally, the Private Fund Manager has the right, in its
sole discretion, to waive or reduce the Management Fee charged to certain Private Fund investors.

In addition, as is also specified in each Private Fund’s offering documents, including each Private
Fund’s limited liability company agreement or limited partnership agreement, as the case may be,
each Private Fund’s Manager is generally entitled to receive, from time to time, as reasonably
determined by the Private Fund Manager, a performance fee or carried interest (a “Carried
Interest”) from each Private Fund it manages which is typically 15% of the aggregate of all
amounts earned by a Private Fund and paid out as distributions from the Private Fund’s
investments, after Private Fund investors receive aggregate distributions from a Private Fund’s
investments equal to their capital contributions to the Private Fund.

Because of our affiliation with the Private Fund Manager, the Carried Interest may be considered
performance-based compensation that indirectly benefits Hunter Private Capital Advisors.

Refer to Item 6 of this Brochure entitled “Performance Fees and Side by Side Management” for a
further discussion of the Private Fund Manager’s receipt of Carried Interest from the Private Funds.

Only those potential investors who or which meet the definition of (i) an “Accredited Investor”
as defined in Regulation D under the Securities Act of 1933, as amended (the “Securities Act”)
and (ii) a “Qualified Client” as defined in the Investment Advisers Act of 1940, as amended (the
“Advisers Act”) will be eligible to become investors in a Private Fund we will manage.

Each investor in a Private Fund subject to a Carried Interest or a performance fee will be required
to certify his or its status as a Qualified Client, as a condition of becoming an investor in such
Private Fund.

As is also described in each of Private Fund 1 and Private Fund 2’s offering documents, these
Private Fund investors will generally also share, on a pro-rata basis, in accordance with their
respective Private Fund investments, their proportionate share of each Private Fund’s operating
and other expenses (collectively, “Private Fund Expenses”) and Transaction Expenses (as
defined below), oftentimes up to a Reimbursement Limit (also as defined below). To the extent

Private Fund Expenses are incurred by the Private Fund Manager, the Private Fund will generally
reimburse the Private Fund Manager for such expenses.

Private Fund Expenses

Each of Private Fund 1 and Private Fund 2 may pay for (or reimburse the Private Fund Manager
for its payment of) routine operating and other Private Fund Expenses as the Private Fund Manager
shall determine to be necessary or appropriate to the conduct of the Private Fund’s business,
including without limitation: (a) the Management Fee; (b) any stock warrant exercise price; (c) all
organizational and startup expenses, including legal, accounting, printing, production, out-of-
pocket expenses, and other expenses relating to the organization of the Private Fund and the
offering and private placement of the Private Fund investor interests; (d) expenses related to the
registration, qualification, or exemption of the Private Fund or the Private Fund investor interests
under any applicable law; (e) internal and external legal, accounting, auditing, compliance,
external administration, servicing, translation, insurance (including liability insurance with respect
to the Private Fund Manager and its affiliates and to cover errors and omissions), and
indemnification costs and expenses; (f) costs and expenses related to any litigation and/or
arbitration involving the Private Fund (including the cost of investigation and preparation) and the
amount of any judgments or settlements paid in connection therewith; (g) expenses associated with
the preparation or distribution of the Private Fund’s financial statements, audits, tax returns, and
Schedule K-1s, or any other administrative, regulatory, or other Private Fund-related reporting or
filing obligation; (h) taxes, fees, and other government levies; (i) expenses in connection with the
ongoing offer and sale of Private Fund investor interests; (h) extraordinary expenses; and (i) any
other expenses attributable to the holding and disposing of a portfolio investment.

Transaction Expenses and Fees

As noted above, in addition to their payment of Private Fund Expenses, Private Fund 1 and Private
...

Item 7: Types of Clients
Our clients consist of and will consist of existing and to-be-organized affiliated private pooled
investment vehicles (i.e., the Private Funds).

Investors who or which will be offered an opportunity to invest in the Private Funds will generally
consist of high net worth natural person investors and institutions, such as private family offices
and charitable entities, each of whom must qualify as both an “accredited investor,” as defined in
Regulation D under the Securities Act, and as a “qualified client,” as defined under Advisers Act.

Private Fund investors are generally required to make investments of at least $125,000, provided
that generally, the Private Fund Manager, in its sole discretion, reserves the right to waive the
minimum investment for any Private Fund investor. Certain of our Private Fund Manager’s and
Hunter Associates’ management persons who qualify as “knowledgeable employees” under Rule
3c-5 of the Investment Company Act of 1940, as amended, are also investors in the Private Funds.