Lincoln Peak Capital Management LLC

Item 5 – Fees and Compensation

The following is a general description of fees, compensation, and expenses of the Funds.
Differences exist from Fund to Fund, and certain Funds may not charge certain fees, compensation
or expenses. The Partnership Agreements or LLC Agreements (as applicable) of the Funds describe
fees, compensation and expenses in greater detail.

Management Fees

With respect to the SPVs, the General Partner of each SPV is generally entitled to receive a
management fee calculated as a percentage of the aggregate capital commitments of the Investors
not affiliated by the General Partner. Such management fee is generally paid by the applicable SPV
upon receipt of the capital contribution from each such unaffiliated Investor. With respect to LPC,
LLC, the Manager’s compensation is paid as part of the operating expense budget, rather than a
percentage of aggregate capital commitments. The operating expense budget is approved by the
Board annually and may increase in the future, subject to the Board’s approval.

Carried Interest

The General Partner of each SPV and an affiliate of the Manager of LPC, LLC is generally entitled
to receive a carried interest allocation equal to a percentage of net profits of such Fund. In addition,
each General Partner or the Manager is generally entitled to receive a minimum annual fee to the
extent the carried interest for any year is less than the minimum annual fee set forth in the applicable
Fund Documents.

Expenses

The General Partner of each SPV and the Manager of LPC, LLC bears all management expenses,
which generally includes all normal overhead expenses of the General Partner and such Fund,
including, without limitation, salaries and benefits, rent, office furniture, fixtures and computer
equipment.

Each Fund generally bears its own costs and expenses, as disclosed in each Fund’s offering
documents and organizational documents. Costs and expenses that the Funds may bear include, but
are not limited to, the following: expenses related to its organization and operations, fees and
expenses of custodians, outside counsel, consultants, investment bankers, lenders, data providers,
third-party diligence software and service providers, third party valuation agents, accountants, tax
preparers, administrators and other similar outside advisors expenses incurred in identifying,
evaluating sourcing, exploring prospects and prospecting for, structuring, organizing, negotiating,
consummating, financing, refinancing, acquiring, bidding on, owning, managing, operating,
holding, restructuring, trading, taking public or private, winding up, liquidating, dissolving and
otherwise arranging any transaction contemplated for investment by the Fund (including travel and
meal expenses, regardless of whether such transaction is subsequently consummated, and including
broken-deal fees and expenses), out of pocket costs, premiums for insuring certain risks including
directors’ and officers’ liability insurance, key man life insurance for any executive of the Manager,
the proceeds of which are payable to the Company, out-of-pocket costs, fees and expenses of third-
party public relations advisors and any other out-of-pocket costs, fees and expenses of making,
holding or selling investments or raising additional capital. any taxes, fees or other governmental
charges levied against the Company or on its income or assets or in connection with its business or
operations, and all other costs and expenses of the Company in connection with the acquisition,
monitoring and disposition of investments in the Asset Managers, including nominal gifts to Partner

Firms and investors associated with the closing of transactions. LPC, LLC intends to issue new
capital in the future, and any costs connected with that issuance would be charged to the Company.
Neither the Adviser nor any of its supervised persons accepts compensation for the sale of securities
or other investment products.

It is important that Investors refer to the applicable Fund Documents for a complete
understanding of how the Adviser and its affiliates are compensated for services, as well as
for a complete understanding of Company expenses. 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.

Item 7 – Types of Clients

The Adviser provides investment advice to the Funds. The Funds are investment partnerships
exempt from registration under the Investment Company Act of 1940, as amended (the “Investment
Company Act”). The Investors participating in the Funds may include individuals, banks or thrift
institutions, other investment entities, university endowments, family offices, pension and profit-
sharing plans, trusts, estates or charitable organizations or other corporations or business entities
and may include, directly or indirectly, principals or other employees of the Adviser and its
affiliates and members of their families.

Each Fund generally has a minimum investment amount (typically between $500,000 and
$1,000,000), but its General Partner or the Manager, respectively, has the authority to waive all
such minimums. All Investors must be “accredited investors” as defined under Regulation D of the
Securities Act of 1933, as amended, and may also be required to be (a) “qualified clients” as defined
in the Investment Advisers Act of 1940 (the “Advisers Act”) and (b) either “qualified purchasers”
or “knowledgeable employees” as defined under the Investment Company Act.