Kora Management LP

FEES AND COMPENSATION

A.     Advisory Services and Fees

        Written investment advisory agreements and/or organizational and offering documents of
the Client Accounts govern the terms of compensation and the manner in which we charge fees to
each of our clients. The fees we charge for our advisory services may be negotiable depending on
the circumstances of the client’s account and the service levels we provide to the client.

        In addition to our fees and compensation, each Client Account will pay certain operating
expenses and administrative expenses, as set forth in the applicable written investment advisory
agreement and/or organizational and offering documents of the Client Account. Operating
expenses and administrative expenses with respect to a Client Account may include, but are not
limited to, all:

          i.   fees, costs, and expenses associated (directly or indirectly) with the negotiation,
               financing, sourcing, acquiring, holding, monitoring, hedging, settling, and
               disposing of investments or proposed investments and other transaction costs,
               including, without limitation, transaction fees, brokerage fees, clearing, and
               settlement charges; commissions, consulting, advisory, due diligence (including
               portfolio company background checks), investment banking, legal, financial,
               auditing, accounting, valuation, research, third-party consulting, and other
               professional fees and expenses related to investments and proposed investments;

         ii.   research-related computer hardware and software expenses, including Bloomberg
               terminals and subscriptions relating to, among other things, trading, order
               management, and other technology and services;

        iii.   such Client Account’s pro rata portion of the costs of our portfolio management
               system;

        iv.    fees, expenses, and payments due to any lenders, investment banks, and other
               financing sources in connection with the financing, sourcing, acquiring, holding,
               monitoring, hedging, and disposing of investments or proposed investments;

         v.    custodial fees, appraisal fees, and expenses;

        vi.    entity-level taxes, fees, or other governmental charges, including any withholding
               taxes not due to the status or noncompliance of a particular investor;

       vii.    costs and expenses (including entity-level taxes, fees or other governmental
               charges) associated with the formation, organization, and operation of any
               subsidiary, special purpose vehicle, alternative investment vehicle, holding
               company, or similar entity formed with respect to investments, leverage facilities,
               or other transactions entered into for the benefit of the Client Account;

     viii.   the costs of any insurance (including, without limitation, general partner liability
             insurance, errors and omissions insurance, directors and officers insurance, if any,
             and other insurance policies with respect to such Client Account’s business and
             affairs);

       ix.   expenses incurred in the collection of monies owed to such Client Account;

       x.    management fees;

       xi.   legal, regulatory, compliance, auditing, research, and accounting fees and expenses
             (including, without limitation, fees and expenses incurred in connection with such
             Client Account’s compliance with federal and state securities laws and other
             applicable federal and state laws (including the Gramm-Leach-Bliley Act, as
             amended), and fees and expenses of any administrator of such Client Account;

      xii.   expenses associated with any applicable U.S. federal, state, local or non-U.S. laws,
             legal and/or regulatory filings of such Client Account (including, without limitation,
             Form D and “blue sky” filings and fees; Commodity Futures Trading Commission
             notice filings; Form 8.3 filings; and filings pursuant to Sections 13 and 16 of the
             Securities Exchange Act of 1934, as amended, such as Schedule 13D and Schedule
             13G filings and Form 4 filings; provided, however, that expenses associated with
             Section 13H and Section 13F filings will be paid by us);

     xiii.   such Client Account’s pro rata portion of the preparation, costs, and filing fees with
             respect to our Form PF;

     xiv.    expenses associated with the preparation and delivery of financial statements, tax
             returns, and related documentation;

      xv.    extraordinary expenses (including, without limitation, litigation-related and
             indemnification expenses, whether payable in connection with a proceeding
             involving such Client Account or otherwise, and including the amount of any
             judgment or settlement paid in connection therewith);

     xvi.    the costs of service providers or software to measure or monitor risk metrics, to
             aggregate positions, and/or to provide reporting with respect to risk metrics and/or
             positions;

    xvii.    costs and expenses associated with investor communications and reports, and the
             delivery thereof to investors;

    xviii.   reasonable expenses incurred in connection with any meetings of investors;

     xix.    reasonable expenses of the members and meetings of any committee of such Client
             Account;

        xx.    expenses incurred in connection with the dissolution, liquidation, and termination
               of such Client Account;

       xxi.    broken-deal, failed transaction, break-up and similar fees, costs, and expenses; and

      xxii.    expenses incurred in connection with the preparation of amendments to such Client
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TYPES OF CLIENTS

         We currently provide investment advisory services to the Funds and Other Accounts. The
Funds are offered to high-net-worth individuals, financially sophisticated individuals, and
institutional investors, including trusts, estates, or charitable organizations, endowments, pension
and profit sharing plans, and commingled investment vehicles.

       Generally, each investor in a Fund must be an “accredited investor” as defined in
Regulation D under the Securities Act of 1933, as amended (the “Securities Act”), and a “qualified
purchaser” as defined in the Investment Company Act, with the exception of the KHIII Fund,
where each investor must be an “accredited investor.” Investors in the Funds may include, but are
not limited to, high net worth individuals, pension plans, sovereign wealth funds, endowments,
foundations, banks, pooled investment vehicles (e.g., funds-of-funds), trusts, estates, or charitable
organizations, and corporate or business entities.

       Certain of our employees who qualify as “knowledgeable employees” under Rule 3c-5 of
the Investment Company Act may be permitted to invest directly or indirectly in a Client Account.

        The offering documents of the Funds set forth the applicable investor suitability criteria
and minimum amounts for investment by prospective investors in such Funds. We may, in our sole
discretion, waive any of these minimum account requirements, subject to applicable law.