Legeis Capital Advisors LLC

Item 5 – Fees and Compensation
Advisory Fees and Compensation

Legeis generally receives asset-based fees and/or performance-based fees from the Funds, which vary
depending on the Fund, share class, and series of investment. Generally, management fees are up to 2% and
performance fees are up to 20%. Certain Funds may have minimum fees provided for in the respective
Fund’s Governing Documents.

Portfolio investment entities may reimburse or directly pay Legeis for certain fees and expenses incurred
in connection with the management of a Fund, as may be set forth in the applicable Governing Documents
for a Fund. These amounts may be in lieu of or in addition to fees, expenses, and reimbursements paid by
the Funds.

Please refer to the relevant Fund Governing Documents for details regarding fees and expenses.

Legeis reserves the right to waive or reduce fees based on a variety of factors, including the nature of
investments, length of relationship with Legeis or related persons, and other factors, in its sole discretion.
Legeis and certain employees and related persons of Legeis are permitted to invest their capital in the Funds
and may not be required to pay fees, expenses, or performance allocations under the applicable
Governing Documents.

Payment of Fees

The Funds’ management fee is deducted from each applicable investor’s capital account. Underlying
investors are not billed for fees. Management fees are typically assessed monthly or quarterly in advance
based on the net asset value at the beginning of each month or quarter, respectively. Performance-based
compensation will be deducted in accordance with the applicable Governing Documents, including from
investor capital accounts at the end of the calendar year or at the time of a withdrawal prior to the end of
the year if investors have experienced new net profits above a high-water mark.

Prepayment of Fees

If a Fund is terminated during a period in which a management fee has been paid in advance, any rebate of
prepaid fees will be determined based on the applicable Governing Documents. Notwithstanding the
foregoing, in certain cases a minimum management fee may be payable to and retained by Legeis regardless
of termination. Any such minimum fee, and the circumstances under which it applies, will be governed by
the applicable Governing Documents.

Fees and Expenses

In addition to management fees and performance fees, a Fund may also pay brokerage commissions and
other execution, leverage, administrative or operational costs, including expenses incurred in connection
with registration as an investment adviser under the Advisers Act and any and all ongoing expenses related
thereto or relating to compliance with any requirements in connection with such registration, whether or
not a Fund makes any profits. In addition, certain investments made by a Fund or special purpose vehicle
that hold such investments may incur significant fees and expenses, including those paid to employees of
such investments or special purpose vehicles, third-party advisors, directors, managers, consultants,
servicers or operators, related to the operation, management, acquisition or disposition of such investments
or special purpose vehicles. The expenses borne by a Fund will vary depending on, among other things, the
degree of leverage used by a Fund’s investments. From time to time, Legeis will be required to decide
whether costs and expenses are to be borne by a Fund, on the one hand, or Legeis, on the other, and/or

whether certain costs and expenses should be allocated between or among a Fund, on the one hand, and
other managed vehicles or accounts/co-investors of Legeis or its affiliates, on the other hand. Certain
expenses may be suitable for only a Fund or particular vehicles participating in specific investments and
may be allocated to and borne only by such Fund or vehicles or expenses may be allocated pro rata among
the vehicles (including a Fund) participating in the relevant portfolio investment(s). Except as otherwise
provided in the applicable Governing Documents of a Fund, Legeis will make such judgments in its sole
discretion. The process of allocating expenses is inherently subjective. Legeis may make corrective
allocations after the fact should it determine that such corrections are necessary or advisable.
Notwithstanding the foregoing, the portion of an expense allocated to a Fund for a particular item or service
may not reflect the relative benefit derived by a Fund from that item or service in any particular instance.

With the evolution of technology, it is expected that a Fund may incur expenses relating to technology that
is either not in use by a Fund today and/or is developed and subscribed for in the future. A Fund may, under
certain circumstances, bear broken deal expenses associated with unconsummated transactions in excess of
the amount of a Fund’s share of such investment had such investment been consummated, and in such
circumstances the amount of expenses borne by a Fund would be expected to increase. Legeis may cause a
Fund to purchase, and/or bear all or a portion of premiums, fees, costs, and expenses (including any
expenses or fees of insurance brokers) for insurance to insure Legeis, its partners, directors, officers,
employees, and other indemnified parties (and, in certain circumstances, such person’s agents and
representatives), against liability in connection with a Fund and its activities. This includes all or a portion
of any premiums, fees, costs, and expenses for one or more “umbrella” or other insurance policies
maintained by Legeis or its affiliates that cover one or more of a Fund, other funds, vehicles or accounts
managed by Legeis or its affiliates (including their respective partners, directors, officers, employees,
members, and other indemnified parties).

A Fund will bear all expenses it incurs, except and as otherwise set forth in the applicable Governing
...

Item 7 – Types of Clients
Legeis’ clients are the Funds described in Item 4 above. Investors in the Funds may include, but are not
limited to, high net worth individuals, family offices, other funds, endowments, foundations, trusts,
charitable organizations, pension plans, insurance companies, and corporate or business entities. Details
concerning applicable investor suitability criteria and the amount of an investor’s initial commitment are
set forth in the respective Fund’s Governing Documents.