Kohlberg & Co LLC

Item 5.     Fees and Compensation

The Adviser or its affiliates generally receive Advisory Fees and Carried Interest (each as defined
below) or similar performance-based remuneration from its Clients as described below in more
detail. A Fund and/or its portfolio companies also typically make other payments to the Adviser
or its affiliates for services provided to the Fund and/or its portfolio investments which, in certain
circumstances, will reduce the Advisory Fees payable to the Adviser. Additionally, consistent
with the Organizational Documents of a Fund, the Fund typically bears certain out-of-pocket
expenses incurred by the Adviser in connection with the services provided to the Fund and/or the
portfolio investments. Details about such fees and expenses are contained in the Organizational
Documents of a Fund. Further details about certain common fees and expenses are set forth below.

Advisory Fees

As compensation for investment supervisory services rendered to the Funds, the Adviser receives
from each such Fund (except for Associates Funds, certain Co-Investment Vehicles, Feeder
Vehicles, Alternative Investment Vehicles, and certain Other Advisory Clients) an advisory fee
(each, an “Advisory Fee”) typically calculated based on committed capital, remaining invested
capital or the cost basis of existing investments (reduced by any write-offs) with respect to such
Fund. Advisory Fees may be reduced during the life of a Fund. Advisory Fees paid by a Fund
may also be reduced by other fees or compensation received by the Adviser or its affiliates that
relate to such Fund’s activities and investments, or by certain organizational or other expenses
borne by such Fund, as described in more detail below. Advisory Fees paid by a Main Fund are
indirectly borne by investors in such Main Fund, including any Funds that invest in such Main
Fund (such as Feeder Vehicles).

With respect to certain Funds, on a date specified in the Organizational Documents (the “Stepdown
Date”), the Advisory Fee customarily decreases and is thereafter calculated based on the amount
of invested capital associated with the Fund’s aggregate investment(s) in portfolio investments that
remain unrealized or have not been permanently written down or written off (such investments,
“Impaired Investments”). Because Advisory Fees are calculated based on invested capital
following the Stepdown Date, the Organizational Documents do not require any reduction or
refund of Advisory Fees following a write-off, or a decrease (including a significant decrease) in
fair value, except with respect to investments that meet the applicable Impaired Investment
standard under the Organizational Documents. Similarly, if the fair value of an investment exceeds
the aggregate investment contributions for that investment, Advisory Fees payable after the
Stepdown Date are not computed on the appreciated value and instead continue to be determined
by the amount of such investment contributions. As a result, the Advisory Fees generally will not
track changes in the fair value of any individual investment or of a Fund, including after the
applicable investment period, and will not be decreased to reflect write-downs or write-offs, except
with respect to Impaired Investments.

In addition, the Organizational Documents do not require any reduction or refund of Advisory
Fees, in whole or in part, in connection with distributions (including those arising from dividend
recapitalizations), reorganizations, restructurings, roll-over investments, extraordinary dividends
or similar transactions, or where one or more other Fund(s) exit their investment(s) (including
credit investments) in the relevant portfolio company, whether in whole or in part, in each case
where such events do not result in a complete disposition of the relevant Fund’s interest, and even
where the value of the Fund’s investment or the Fund’s ownership percentage has been reduced
(including materially reduced) as a result. In many cases, the Advisory Fee base following the
Stepdown Date will include capitalized, transaction-specific fees and expenses of unrealized
investments, including certain fees (such as Other Fees) and expenses paid to third parties or their
affiliates. In addition, the Organizational Documents generally do not provide for the
reimbursement or refund of Advisory Fees in the event of realizations, dispositions, or partial
write-downs or write-offs occurring mid-calculation period.

Advisory Fees received from certain Funds are payable quarterly in advance and from certain other
Funds in arrears. Upon termination of an Advisory Agreement, Advisory Fees that have been
prepaid are generally returned on a prorated basis.

The precise amount of, and the manner and calculation of, the Advisory Fees for each Fund are
established by the Adviser as set forth in each Fund’s Organizational Documents received by each
investor prior to investment in such Fund. The Advisory Fees and other fees and distributions
described herein are generally subject to waiver, modification or reduction by the Adviser in its
sole discretion, both voluntarily and on a negotiated basis with selected investors via side letter
and other arrangements, which may not be disclosed to other investors in the same Fund. Such
waiver has in the past eliminated and may in the future eliminate any fee offsets that might
otherwise have reduced the amount of an Advisory Fee. The fee structures described herein may
be modified from time to time. Fees may differ from one Fund to another, as well as among
investors in the same Fund. Unless otherwise agreed with a Fund’s investors, Advisory Fees will
continue to be payable during any term extensions. In addition, the Adviser has in the past and
may in the future enter into economic and/or other fee-sharing arrangements with respect to one
or more Funds and/or certain limited partners thereof, the rights of which will not generally be
offered to other limited partners.
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Item 7.     Types of Clients

The Adviser currently provides investment supervisory services to the Funds (other than certain
Co-Investment Vehicles). Investment advice is provided directly to the Funds and not individually
to investors in such Fund.

Interests in the Funds are offered pursuant to applicable exemptions from registration under the
Securities Act and the 1940 Act. Investors in the Funds are generally “qualified purchasers” as
defined in the 1940 Act, and may include, among others, high net worth individuals, banks, thrift
institutions, pension and profit-sharing plans, trusts, estates, charitable organizations, university
endowments, sovereign wealth funds, corporations, limited partnerships and limited liability
companies or other entities.

The Adviser does not have a minimum size for a Fund, but minimum investment commitments
may be established for investors in the Funds. The General Partner of each Fund may in its sole
discretion permit investments below the minimum amounts set forth in the Organizational
Documents of such Fund.

As described in Item 4, the Adviser also provides non-discretionary investment sourcing services
and discretionary advisory services to Other Advisory Clients in accordance with the terms of the
applicable Other Advisory Client’s Organizational Documents. Investors in the Other Advisory
Clients may include, among others, high net worth individuals, private investment funds, banks,
thrift institutions, pension and profit-sharing plans, trusts, estates, charitable organizations,
university endowments, sovereign wealth funds, corporations, limited partnerships and limited
liability companies or other entities. These institutional clients generally are “accredited investors”
within the meaning of the Securities Act and may be “qualified purchasers” within the meaning of
the 1940 Act.