KBS Realty Advisors LLC

Item 5 Fees and Compensation

KBSRA receives compensation for providing investment advisory and real estate asset
management services to institutional clients, including private funds, separate accounts, and
other investment vehicles. The specific fees and expense arrangements applicable to a client are
negotiated and documented in the governing agreements for the applicable investment vehicle
or mandate.

Advisory and Transaction-Related Fees
KBSRA may receive acquisition-related fees in connection with services provided in sourcing,
evaluating, underwriting, and negotiating real estate investments and, in certain cases, loans or
other debt instruments secured by real estate. Such fees, where applicable, are typically
calculated as a percentage of the acquisition cost or funding amount and may vary depending
on the structure and attributes of the underlying investment. Not all clients or investment
vehicles are subject to acquisition-related fees.

Asset Management Fees
KBSRA negotiates asset management fees on a client-by-client basis. Asset management fees
generally reflect, among other factors, the size of the mandate, investment strategy, asset mix,
scope and complexity of services, investment structure, and the duration of the engagement.
Accordingly, KBSRA does not maintain a uniform fee schedule, and fee terms may differ across
clients and investment vehicles.

Cash Management Fees
In certain circumstances, KBSRA may receive a fee for managing excess cash held at the
investment vehicle level that is not yet deployed in real estate investments. There is no standard
fee schedule for cash management services, and any such fees are negotiated with the client
and documented in the applicable governing agreements.

Performance-Based Compensation
In certain cases, KBSRA may receive performance-based compensation, including carried
interest or other incentive-based arrangements. Performance-based compensation may create
an incentive for KBSRA to recommend investments that involve greater risk or are more
speculative than might otherwise be the case. Where applicable, such arrangements are
structured to comply with Rule 205-3 under the Investment Advisers Act of 1940, which permits
performance-based fees only for eligible clients meeting specified net worth or
assets-under-management thresholds. The terms, methodology, and conditions applicable to
any performance-based compensation are set forth in the relevant governing documents.

Affiliate Compensation and Property-Level Fees
Affiliates of KBSRA, including KBS Management Group, LLC (the “Co-Manager”), may provide
certain property-level or co-management services to portfolio assets, which are separate from
the advisory services provided by KBSRA. In such cases, the Co-Manager may receive
compensation pursuant to arrangements negotiated with third-party property managers,
generally calculated as a percentage of rental income or other property-level metrics. These
arrangements may present potential conflicts of interest because an affiliate of KBSRA receives
compensation in addition to the advisory fees paid to KBSRA.
Where such affiliate arrangements are utilized, they are subject to client oversight and
transparency, and fees are benchmarked against market practices and disclosed in the
applicable governing documents. Any such arrangements are entered into only where
permitted and approved in accordance with client requirements.

Item 7 Types of Clients

Clients are institutional entities and investment vehicles advised at the entity level, including
pension funds, sovereign wealth funds, and private and publicly listed real estate investment
vehicles, including foreign‑listed REIT structures.