LendingClub Asset Management LLC

FEES AND COMPENSATION

Private Funds:
The Funds generally pay the Advisor a management fee equal to 0.50%. The fee is calculated and
deducted from each Limited Partner’s account monthly, and payable in arrears. The fee is calculated
based on the sum of the Limited Partner’s Capital Account balance (prior to any distributions or
redemptions) and the Leveraged Asset Value of their account at month end. This value is multiplied by
1/12th of the Management Fee Percentage.

LCAM, in its sole discretion, may waive, in whole or in part, the Management Fee attributable to any
Limited Partner.

Core Limited Partners:
As LCAM launched its newest funds, DCIF II and CCIF, the Advisor initiated a management fee waiver
program for those who made initial capital contributions to DCIF, DCIF II or CCIF and met certain criteria.
Any investor admitted and making a capital contribution on or prior to February 1, 2018, or such other
time, as determined in the General Partner’s sole discretion, upon admission, may elect to be treated as
a Core Limited Partner. The Management Fee for Core Limited Partners shall be equal to zero for so long
as they are treated as such. Core Limited Partners will be treated as such until the first day of the month
immediately following the month in which the Fund receives a Distribution Election, Redemption
Request or Complete Withdrawal Request from the investor (“Core End Date”).

It should be noted that if the Core End Date occurs prior to December 31, 2018, the investor will owe
the difference between the management fees it would have owned until such date as it was no longer a
Core Limited Partner. If the Core End Date occurs after this date, then no back fees will be assessed.
Management fees will simply begin to be charged going forward.

Other Fund Expenses:
With the exception of certain ongoing expenses that are subject to a 15 bps expense cap, the Funds
generally pay all expenses related to their own operations and the acquisition, holding and disposition of
their investments, including, but not limited to, Fund Board expenses; fees, costs and expenses for
outside tax advisors, accountants, auditors, administrators, attorneys, investor verification agents,
custodians, consultants, valuation firms and other service providers; custodial, depository, banking or
similar fees or commissions actually incurred related to actual Investments; costs of insurance for the
General Partner and the Advisor; out-of-pocket fees, costs and expenses incurred in connection with the
Funds’ legal and regulatory compliance; expenses incurred in preparing and delivering Fund documents
and reporting for Partners; any taxes, fees or other governmental charges; all fees, costs and expenses
incurred in developing, investigating, negotiating, structuring, trading, settling, monitoring, holdings and
disposing of actual Investments; interest on and fees and expenses arising out of borrowings made by
the Funds; out-of-pocket fees, costs and expenses incurred in developing, investigating, negotiating and
structuring prospective Investments that are not ultimately made; Loan Servicing Fees; and the cost of
any litigation, insurance for the Funds and indemnification or extraordinary expense or liability relating
to the affairs of the Fund.

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Loan Servicing Fees included above are payable to LendingClub. These fees are not included in the 15bps
expense cap. The Loan Servicing Percentage is equal to 0.60% for any “Prime” and “Super Prime” loans
and 0.75% for any “Near Prime,” “Patient Solutions” and “Small Business” loans. These percentages are
reevaluated by LendingClub and LCAM biennially beginning on the two-year anniversary date of the
Initial Close Date of each Fund. The percentage may be increased or decreased to reflect the prevailing
market rate for services fees.

Separately Managed Accounts:
LCAM’s current fees structure for SMAs is based upon the assets under management (“AUM”). The
Advisor charges the following fees monthly in arrears:

                                 AUM               Annual SMA Fee            Monthly Fee

                          $100,000-$249,999              1.20%                 0.1000%

                          $250,000-$499,999              1.10%                 0.0917%

                          $500,000-$999,999              1.00%                 0.0833%

                         $1,000,000-$4,999,999           0.95%                 0.0792%

                             $5,000,000+                 0.85%                 0.0708%

Fees for SMAs are negotiable and may be waived at the sole discretion of the Advisor. All fees are
deducted from clients’ accounts monthly as outlined in their Investment Advisory Agreement with the
Firm.

Collection fees
Both the fund investors and SMA clients pay collection fees and charge-off recovery fees. LendingClub
assesses collection fees of 18% - 35% of borrower payments received as a result of successful collection
efforts if no litigation is involved, or 30% of hourly attorney fees, plus costs, if litigation is involved.
When borrowers miss payments and loans become late, LendingClub uses best practices from the
banking industry to bring delinquent loans back to “current” status.

Charge-off recovery fees
Loans become “charged off” when there is no longer a reasonable expectation of further payments.
Charge off typically occurs when a loan is no later than 150 days past due, which is 30 days after the
“default” status is reached on the LC platform. LendingClub may sell charged-off loans to a third party.
In the event that a charged-off loan is sold to a third party or funds are recovered on a previously
charged off loan, investors receive a pro rata share of the sales proceeds or recovery payment,
respectively, less any fees. Recoveries on previously charged off loans are infrequent.

Fees Received by LendingClub
...

TYPES OF CLIENTS

LCAM provides investment advisory services to privately offered Funds and SMAs.

LCAM manages four privately offered Funds that invest in LC Products. Each of the Funds has a specific
and limited investment strategy. The Funds are offered only to accredited investors as defined in
Regulation D under the Securities Act of 1933, as amended (the “Securities Act”), and in reliance upon
exemptions from registration provided in Section 3(c)(1) or Section 3(c)(7) of the Investment Company
Act of 1940, as amended (the “Investment Company Act”).

The offering documents of each Fund outlines the minimum amounts for investment by prospective
investors in such Funds. Depending on the Fund, minimums range from $100,000 to $250,000. Minimum
amounts are subject to waiver at the discretion of the Advisor or General Partner.

LCAM also offers advisory services on a separately managed account basis to investors who meet the
definition of accredited investor. The SMAs generally carry a minimum account size of $100,000.

Underlying investors in both account types, private Funds and SMAs, include a wide range of persons,
such as high net worth individuals, family offices, hedge funds, funds of funds, registered investment
advisers investing on behalf of their clients, insurance companies, private foundations and retirement
and pension funds.

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