Laramar Multi-Family Value Manager LLC

ITEM 5 – FEES AND COMPENSATION

Item 5.A
Describe how you are compensated for your advisory services. Provide your fee schedule. Disclose
whether the fees are negotiable.

Management Fees

Laramar MFV, Nine Four Ventures, Nine Four Ventures II, and Lakeside Capital Advisors LP are generally
compensated for advisory services rendered to the Funds based on a percentage of assets under
management (the “Management Fee”) and performance-based amounts in accordance with each Fund’s
Governing Documents.

The Management Fees generally range from 0% to 2% per annum of committed capital, subject to certain
provisions in the applicable Governing Documents. In some instances, the Management Fees are reduced at
the discretion of Laramar MFV, Nine Four Ventures, Nine Four Ventures II, Lakeside General Partner, and
Urban Neighborhood GPs, or other Laramar Group affiliates, pursuant to the various Governing
Documents.

Carried Interest

In addition to Management Fees, Laramar MFV, Nine Four Ventures, Nine Four Ventures II, and Lakeside
Capital Advisors LP or their affiliates, are eligible to receive a percentage of investment proceeds on
distributions (the “Carried Interest”), pursuant to each Fund’s Governing Documents.

Carried Interest with respect to each Fund or client generally does not exceed 30% of profits and in certain
cases is subject to certain preferred return hurdles (the “Return”), whereby Investors are generally allocated
all profits until they have surpassed the Return. Such Return thresholds vary among the Funds, as permitted
by the Governing Documents or advisory agreement, but generally ranges between 8% to 20%. Laramar
MFV, Nine Four Ventures, Nine Four Ventures II, and Lakeside Capital Advisors LP may elect to waive or
reduce Carried Interest charged to a Fund in their discretion.

Laramar MFV encourages all prospective investors to review the Governing Documents for a more
detailed discussion of how Laramar MFV or Nine Four Ventures (or their affiliates) are
compensated for advisory services. This is particularly true with respect to performance-based
compensation. The information contained herein is a summary only and is qualified in its entirety by
such documents.

It should be noted that the Management Fees paid, and Carried Interest borne by investors or clients
are negotiable prior to investment in the Fund or the inception of the advisory arrangement, at the
discretion of Laramar MFV, Nine Four Ventures, Nine Four Ventures II, and Lakeside Capital
Advisors LP or their affiliates.

Fees received by Laramar MFV in exchange for the investment management services that it provides to the
Co-Investment Vehicles are passed on to investors in the Co-Investment Vehicles through their participation
in a Laramar fund. In some cases, Laramar MFV is not compensated for the investment management
services that it provides to the Co-Investment Vehicles. In certain instances, Laramar MFV will receive
Carried Interest for the services it provides to the Co- Investment Vehicles upon ultimately realization of the
investment. Further, an independent third-party real estate investment company that also provides services to
March 31, 2026

the Co-Investment Vehicles does retain its pro rata percentage of the fees payable by investors in the Co-
Investment Vehicles.

Item 5.B
Describe whether you deduct fees from clients’ assets or bill clients for fees incurred. If clients may
select either method, disclose this fact. Explain how often you bill clients or deduct your fees.

The Management Fee and Carried Interest are paid directly from the relevant Fund’s assets.

On occasion, Laramar MFV, Nine Four Ventures, Nine Four Ventures II, and Lakeside Capital Advisors LP or
their affiliates may call capital from investors to pay the Funds’ expenses, including fees. The capital call is
paid to the Funds, which then pay the relevant expenses.

Investors should refer to the Governing Documents for a complete understanding of how fees are paid
to Laramar MFV, Nine Four Ventures, Nine Four Ventures II or their affiliates. The information
contained herein is a summary only and is qualified in its entirety by the Governing Documents.

In some instances, the fees received by Laramar MFV in exchange for the investment management services
that it provides to the Co-Investment Vehicles are passed on to investors in the Co-Investment Vehicles. In
some cases, Laramar MFV is not compensated for the investment management services that it provides to
the Investment Vehicles. Laramar MFV may, however, receive Carried Interest for the services it provides
to the Co-Investment Vehicles. Further, and as noted above, an independent third-party real estate investment
company that also provides services to the Co-Investment Vehicles does retain its pro rata percentage of the
fees payable by investors in the Co-Investment Vehicles.

Item 5.C
Describe any other types of fees or expenses clients may pay in connection with your advisory services,
such as custodian fees or mutual fund expenses. Disclose that clients will incur brokerage and other
transaction costs, and direct clients to the section(s) of your brochure that discuss brokerage.

Laramar MFV, Nine Four Ventures, Nine Four Ventures II, and Lakeside Capital Advisors LP pays all its normal
operating expenses incidental to the provision of administrative services to its Funds, including related
overhead. Subject to any expense limitation set forth in the applicable Governing Documents, each Fund
generally bears all expenses of its organization and operation. Such organization and operational expenses that
Funds bear varies among Funds, but are described in each Fund’s respective Governing Documents, and are
generally described below.

Overview of Fund Expenses

With regard to the Funds, any transaction-related fees received by Laramar MFV, Nine Four Ventures, Nine
...

Item 7
Describe the types of clients to whom you generally provide investment advice, such as individuals,
trusts, investment companies, or pension plans. If you have any requirements for opening or
maintaining an account, such as a minimum account size, disclose the requirements.

Laramar MFV, Nine Four Ventures, Nine Four Ventures II, and Lakeside Capital Advisors LP provide
investment advisory services to the Funds and the Co-Investment Vehicles. Laramar MFV also serves as a
Sponsor and a member of the general partner of the Lakeside Funds. An affiliate of Laramar MFV serves as
a general partner of the Urban Neighborhood Funds, along with an unaffiliated third-party, Lubert-Adler,
Management, LP.

The Funds require a significant minimum capital commitment from each investor, which could, however, be
waived or modified by Laramar MFV, Nine Four Ventures, Nine Four Ventures II, and Lakeside Capital
Advisors LP, or the affiliated general partners, within their discretion.

Laramar MFV, Nine Four Ventures, Nine Four Ventures II, and Lakeside Capital Advisors LP generally
require that each Fund investor be an accredited investor as defined in Regulation D under the Securities Act.
Fund investors may include, among others, high net worth individuals, banks, thrift institutions, pension and
profit-sharing plans, trusts, estates, charitable organizations, university endowments, corporations, limited
partnerships and limited liability companies or other entities.

March 31, 2026