Kenner & Company Inc

Item 5. Fees and Compensation

Fees

We may receive management, directors’, consulting and other similar fees and financing or other
transaction fees in connection with the activities of the Funds (“Other Fees”) as described in each Fund’s
governing documents and are reimbursed by the Funds’ portfolio companies for expenses we incur in
connection with our performance of the services that give rise to these fees. Finally, we may receive fees
or other forms of compensation payable by a third party as a result of the failure to consummate a
proposed investment by a Fund (“Break-Up Fees”).

Each of the Funds will typically pay all expenses incurred in connection with the acquiring, holding, sale
or proposed sale of its portfolio investments and unreimbursed transactional costs for transactions which
have not closed. In addition, each Fund will typically pay all expenses related to the operation of such
Fund, including but not limited to: administrative expenses of such Fund; the cost of the preparation of
the annual audit, financial and tax reports to investors; expenses of any consultants, custodians, outside
counsel, accountants, investment bankers or other similar advisors; costs incurred in connection with the
organization of such Fund; expenses in connection with government or regulatory filings, returns or
reports; taxes, fees or other governmental charges levied against a Fund; litigation or other extraordinary
expenses; insurance and indemnity expenses; expenses of liquidating; expenses of any advisory
committee established with respect to such Fund; and costs of any annual meeting of such Fund’s
investors.

In some cases, expenses might be attributable to more than one Fund or to Kenner and one or more
Funds. In such cases, Kenner will apply an expense allocation methodology that is believed to be fair to
all affected Funds. Kenner may experience a conflict of interest when determining and applying an
allocation methodology.

Neither we nor any of our “supervised persons” accepts compensation for the sale of securities or other
investment products.

Item 7. Types of Clients

We provide discretionary investment advice solely to private equity funds.            We do not have any
requirements for opening or maintaining an account.