Impactassets Capital Partners PB LLC

Item 5: Fees and Compensation

 The fees applicable to each of the Clients are set forth in detail in the corresponding Advisory
 Documents. A brief summary of such fees is provided below.

Investment Advisory, Fixed, and Subscription Fees

 Fees for advisory services include investment advisory fees based on a percentage of assets
 under management, fixed fees, and subscription fees.

 ImpactAssets Capital Partners is paid an investment management fee (an “Investment
 Advisory Fee”) that is based on a percentage per annum of the net asset value of certain
 Clients’ attributable assets under management pursuant to the agreed upon terms of each
 Client’s Advisory Documents. The amount of a Client’s Investment Advisory Fee depends on
 factors not limited to but including:

     -   Level of complexity or customization of the Client’s investment strategy and the
         related analysis;

     -   Size and scope of the engagement;

     -   United States-based vs. International-based recommendations;

     -   Debt vs. equity investment recommendations; and

     -   Private investments vs. public company investments.

 Investment Advisory Fees vary widely and could in some cases be up to 2.5% of AUM for the
 most complex advisory engagements.

 Certain Clients are subject to a flat, fixed fee (“Fixed Fee”) dependent upon the type, breadth
 and depth of services set forth in, agreed upon, and pursuant to their Advisory Documents.
 When research services are provided as a standalone service, the Fixed Fee varies, depending
 on the scope of the engagement, and will be agreed pursuant to the terms of a Client’s
 Advisory Documents. ImpactAssets Capital Partners offers due diligence memorandums along
 with other research services, as specified in a Client’s Advisory Documents.

 When research services are provided on an ongoing, platform subscription basis, Clients are
 subject to a flat, renewable subscription fee (“Subscription Fee”) dependent upon the scope
 of the engagement, and pursuant to a Client’s Advisory Documents.

 The Firm, in its sole discretion, may waive or reduce the Investment Advisory Fee, Fixed Fee,

or Subscription Fee for any Client.

In addition, in certain circumstances the Firm can be reimbursed for certain expenses, such as
legal fees associated
with Clients’ investments or travel-related expenses, where appropriate in accordance with the
Fund’s governing and offering documents. The Fund pays a management fee to the General
Partner or its affiliate at an annual rate of 2.0% of aggregate committed capital during the
investment period, payable quarterly in advance. Following the investment period, the
management fee is calculated at an annual rate of 2.0% of the cost basis of the Fund’s
investments that remain held by the Fund, also payable quarterly.

The Fund does not pay a carried interest or incentive allocation. Organizational, operating, and
investment-related expenses are borne by the Fund or reimbursed to the General Partner or
the Firm as provided in the Fund documents.

Valuation Policy

Given the broad nature of the Firm’s client base, the Firm performs valuations in accordance
with each Client’s own specifications. When reporting in accordance with a Client’s
requirements, the Firm generally uses the most recent valuation as reported by a fund
manager or portfolio company. While the Firm seeks to ensure that such valuations reflect
fair value, the values of Client assets may be determined inaccurately. There may also be
some degree of lag between valuation dates and reporting dates. In such cases, it is possible
that the value of a Client’s assets could be overstated or understated, including for purposes
of determining the investment advisory fees payable by a Client.

Item 7: Types of Clients

ImpactAssets Capital Partners provides investment advisory services generally to institutional
clients such as, but not limited to, family offices, corporations, foundations, charities, large
advisory firms and other sophisticated investors. While it does not do so at present, in the
future the Firm may also provide investment management and/or advisory services to pooled
investment vehicles.

The Firm also provides advisory services to Private Fund(s). Investors in the Private Fund(s)
may include individuals, high-net-worth individuals, banks, thrift institutions, corporations,
pension and profit sharing plans, trusts, estates or charitable organizations. Investors in the
Private Fund(s) are generally required to make minimum initial investments, depending on
the Private Fund, of at least $5 million at the time of subscription, subject to the Firm’s right
to accept lesser amounts. In addition, the Private Fund maintains minimum subscription
amount requirements, and investors should refer to the applicable Private Fund Offering
Documents for a complete description.