Innovation X Advisors LLC

FEES & COMPENSATION

Fees associated with Funds for which Innovation X acts as adviser generally include carried interest,
but may in the future also include an annual management fee, and are governed by the Investment
Management Agreement between Innovation X and the Fund and other governing documents of each
Fund. A brief summary of such fees, expenses, and compensation with respect to the Funds (all of which
is qualified by and subject to the language of the Fund’s governing documents) is provided below. The
fees set out in the Investment Management Agreement are not negotiable.

Carried interest and annual management fees (if any) are deducted from Fund assets. Management
fees (if any) are either deducted from Fund assets on an annual basis or pre-paid, up-front at the time
of the Fund’s launch, while carried interest is deducted at the time of distribution of Fund assets to
Investors. See Item 6 “Performance-Based Fees and Side-by-Side Management” for more information
regarding the carried interest.

In addition to the fees described above, each Fund pays operating expenses and organizational
expenses of the Fund. Details regarding the fees and costs associated with each Fund are detailed in
the Offering Documents specific to each Fund.

Such operating costs and organizational expenses include, but are not limited to:

      expenses in organizing the Fund, including legal, tax, accounting, marketing, printing and travel
       expenses;

      any and all fees, costs and expenses incurred in connection with the discovery, investigation,
       evaluation, negotiation, acquisition, purchase, holding, monitoring, operation, maintenance,
       improvement, leasing, sale or exchange of proposed or existing portfolio investments (whether
       or not consummated), including private placement fees, sales commissions, appraisal fees,
       taxes (except to the extent indemnified by or allocated to one or more Investors), brokerage
       fees, lenders’ fees, legal fees, accounting fees, investment banking fees, consulting fees,
       research-related fees, professional fees, reasonable out-of-pocket and third-party costs and
       expenses (including those related to title agents, engineers, environmental inspectors, tax
       advisors, due diligence firms and other consultants, as well as any reports generated in relation
       to any of the foregoing), including travel expenses incurred by the officers and employees of the
       Firm in connection with any of the foregoing;

      any and all costs and expenses incurred in connection with the carrying or management of
       portfolio investments, including, without limitation, the Fund’s normal record keeping and
       reporting (including software related thereto), custodial fees, trustee fees, maintenance and
       storage costs of books and records and other administrative fees;

      any and all insurance premiums and expenses incurred by the Fund in connection with the
       activities of the Fund, including errors, omissions, fidelity, general partner liability, cyber,
       fiduciary, directors’ and officers’ insurance and similar coverage for any indemnified persons
       acting on behalf of the Fund or any entity related to the Fund;

      legal, accounting, audit, administrative, custodial, consulting and other professional fees and the
       representation of the Fund or the Investors by the tax matters partner and the partnership
       representative;

   fees, costs and expenses of the Fund’s administrator relating to the Fund’s activities and its
    investments;

   any and all costs and expenses incurred in connection with the preparation and delivery of
    financial statements and reports, the cost of annual audits, taxes (except to the extent
    indemnified by or allocated to one or more Investors), tax returns, K-1s (or similar schedules)
    and any other communications with Investors;

   banking, brokerage, registration, qualification, finders, depository and similar fees and expenses
    (including, without limitation, procurement fees and commissions payable to placement agents
    in connection with the location, acquisition or disposition of investments);

   appraisal and valuation expenses, including the fees and expenses relating to any appraiser
    engaged in connection with the distribution of securities in kind;

   costs and expenses that are classified as extraordinary expenses under U.S. GAAP;

   transfer, capital and other taxes and other governmental charges, fees and duties payable by
    the Fund, other than taxes withheld from distributions to an Investor or otherwise reimbursed by
    an Investor pursuant to the Fund’s governing agreements;

   all costs, expenses, damages, losses and other liabilities in respect of which the Fund provides
    indemnification pursuant to the Fund’s Offering Documents;

   costs and expenses incurred in connection with any litigation or governmental inquiry,
    investigation or proceeding involving the Fund or in connection with investigating, defending and
    settling any claim, investigation, action or proceeding against or involving the Fund or incurred
    in the protection or assertion by the Fund of any of its rights, including the amount of any
    judgments, settlements, damages or fines paid in connection therewith, except to the extent
    such expenses or amounts have been determined to be excluded from the indemnification
    provisions of the Fund’s governing agreements;

   costs of winding up and liquidating the Fund;

   expenses incurred in connection with any meetings of Investors of the Fund (including travel
    expenses related thereto).

   any and all costs and expenses incurred in connection with any amendments, modifications,
    revisions or restatements, if any, to the Fund’s governing agreements and other constituent
    documents of the Fund and entities related to the Fund;
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TYPES OF CLIENTS

Innovation X provides investment advisory services to private funds. The minimum investment amount
for each Fund is specified in the Fund’s Offering Documents. Innovation X may also provide advisory
services to separately managed accounts in the future.

At a minimum, Investors in a Fund must be “Accredited Investors,” as defined in Rule 501 of Regulation
D promulgated under the Securities Act of 1933, as amended (the “Securities Act”), and, to the extent a
Fund is charged performance-based compensation, Investors in the Fund must be eligible to enter into
a performance-based compensation arrangement under the Investment Advisers Act of 1940 (the
“Advisers Act”). Notwithstanding the foregoing, Innovation X may allow up to 35 individuals who are not
Accredited Investors to invest in a qualifying Fund, pursuant to Rule 506 of Regulation D promulgated
under the Securities Act. Innovation X generally requires Fund Investors to make representations
concerning their financial sophistication and ability to bear the risk of loss of their entire investment in
the Fund.