Limekiln Real Estate Investment Management LP

ITEM 5 – FEES AND COMPENSATION

A. Compensation for Advisory Services

Limekiln is entitled to payment for providing ongoing advice to the Loan Processing Company and MF1
Capital, as described above. Limekiln, as a member in the Loan Processing Company and pursuant to the
governing documents of the Loan Processing Company, will be entitled to a payment representing a loan
processing fee or similar amount, often expressed as a percentage of the amount of the applicable Mortgage
Loan (the “Loan Processing Fee”). The Loan Processing Fee will often be paid to the designated account of
the Loan Processing Company on the closing date of the applicable Mortgage Loan. It is the intention of
Limekiln, the Loan Processing Company and MF1 Capital that the Loan Processing Fee will generally be
identified under the term sheet, loan application and/or commitment for each Mortgage Loan as a loan
processing fee or similar amount. The loan processing fee or similar amount will not exceed the amount set
forth in the applicable term sheet, loan application and/or commitment for any Mortgage Loan.

In addition to the Loan Processing Fee, the Loan Processing Company, and, therefore, Limekiln as a member
in the Loan Processing Company, will be entitled to a payment equal to the amount of any non-refundable
fee (the “Non-Refundable Fee”) identified under the loan application and/or commitment for each
Mortgage Loan, which will generally be paid to the designated account of the Loan Processing Company;
provided, however, that with respect to Mortgage Loans sourced through programs with certain third
parties, a portion of the Non-Refundable Fee may be paid to such third parties to the extent required under
applicable agreements.

B. Charging Fees

With respect to its activities under the Services Agreement, it is expected that the Loan Processing Fee will
generally be paid upon the closing date of the applicable Mortgage Loan.

C. Other Fees and Expenses

It is expected that all costs and expenses of originating Mortgage Loans, except for costs of services as
described the Services Agreement, will be paid by MF1 Capital or another applicable lender or the applicable
borrower named in the loan documents of each Mortgage Loan. This includes costs and expenses for
appraisals, engineering reports, environmental reports, credit diligence, zoning reports, insurance review,
site visits, legal counsel, travel, lodging, and other similar expenses.

It is not expected that the Loan Processing Company or any other Client of Limekiln will incur brokerage and
other transaction costs. Please see Item 12 for a further description of such brokerage costs.

D. Timing of Fee Payments

As discussed above, it is expected that the Loan Processing Fee will generally be paid upon the closing date
of the applicable Mortgage Loan.

E. Payments to Supervised Persons

Neither Limekiln nor any of its supervised persons directly or indirectly receive any compensation from the
sale of securities or other investment products.

ITEM 7 – TYPES OF CLIENTS

Limekiln provides non-discretionary investment advisory services to the Loan Processing Company and MF1
Capital. Further, the Firm reserves the right to provide advisory services to individuals, trusts, corporations
and other legal entities, and institutional investors.