Lock 8 Partners LLC

ITEM 5 - FEES AND COMPENSATION
The fees and expenses applicable to each Fund are described in the Funds’ Governing Documents.
The rates at which our fees are charged vary across the Funds. As compensation for investment
advisory services provided to the Funds, Lock 8 receives an annual management fee from the Funds
based on a percentage of each Investor’s commitment, in accordance with the Fund’s Governing
Documents (the “Management Fee”). The Management Fee is typically payable quarterly in
advance and is indirectly borne by the Investors. In addition, the General Partners or Lock 8 may
also be entitled to receive a performance-based fee (a/k/a “carried interest”), which is calculated as
a percentage of the profits achieved by the Fund.

The General Partner may, in its sole discretion, elect to waive Management Fees or carried interest
distributions with respect to certain friends and family of the Managing Member, persons associated
with the General Partner, the Managing Member and certain Strategic Co-Investors, as determined
by the General Partner in its sole discretion.

In addition to the Management Fees and carried interest described above, certain Funds advised by
Lock 8 charge each limited partner an annual administration fee – often a fixed amount payable to
the General Partner or its affiliate – for services related to Fund operations and administration. For
example, a fund may require each limited partner to pay a $200,000 per annum administrative fee
for a defined period. However, the exact nature, timing, and amount of such fees may vary by
fund. Lock 8 may also be entitled to receive a separate transaction fee in connection with a Fund’s
investment in a portfolio company that is sourced by Lock 8. Such fee is often a fixed amount, paid
by the portfolio company and funded by the Fund’s investment in such portfolio company. All such
additional fees are described in detail in the applicable Governing Documents of each Fund,
including the limited partnership agreement and private placement memorandum. Investors should
refer to the applicable Fund(s)’ Governing Documents for a comprehensive understanding of the
fees and expenses applicable to their investment.

Fund Expenses and Other Fees

Below is a high-level, non-exhaustive general description of the Funds’ expenses and other fees.
Investors should refer to a Fund’s relevant Governing Documents for a more detailed description
of the expenses and fees payable by a particular Fund. The information herein is qualified in its
entirety by such documents.

The Fund shall reimburse the General Partner and its affiliates for all expenses that are attributable
to the organization of the Fund and the General Partner and the sale of interests in the Fund to
Investors (“Organizational Expenses”) incurred by the Fund; provided, however, that any
Organizational Expenses in excess of a pre-determined amount shall be borne by Lock 8 through a
reduction in the Management Fee otherwise payable by the Fund.

In addition to the Organizational Expenses, the Fund agrees to assume and pay all operating
expenses attributable to the Fund’s activities (collectively, “Fund Expenses”) on the terms and
conditions set forth in the applicable Fund’s Governing Document. With the exception of
Organizational Expenses that exceed a pre-determined amount as described above, Lock 8 shall
bear only the following expenses: compensation and expenses of the employees of Lock 8 (as
applicable), including salaries of the members of the General Partner in their capacity as employees
of Lock 8; and fees and expenses for administrative, clerical and related support services, office
space and facilities, utilities and telephone, insofar as they relate to the investment activities of the
Lock 8 Funds.

“Fund Expenses” borne by the Fund shall include, without limitation: the Management Fee;
Organizational Expenses; placement agent fees and expenses that are attributable to the sale of
interests in the Fund to Investors; liquidation expenses of the Fund; any sales or other taxes, fees or
government charges which may be assessed against the Fund (other than a tax liability but including
without limitation any value added tax assessed against the Fund, the General Partner or any affiliate
of the General Partner on account of payments or distributions made pursuant to the applicable
Fund’s Governing Document); commissions or brokerage fees or similar charges incurred in
connection with the purchase or sale of securities (including any merger fees payable to third parties
and whether or not any such purchase or sale is consummated); expenses of members of the Fund’s
investment advisory committee (including reasonable travel-related costs and expenses); costs and
expenses for software, subscriptions and other databases for purposes of sourcing and monitoring
investments; the costs and expenses (including travel-related expenses) of hosting annual and
special meetings for the Fund, or otherwise holding meetings or conferences with Investors, whether
individually or in a group; the costs and expenses associated with attending industry conferences
and marketing expenses for trade associations; interest expense for borrowed money (if any); all
expenses relating to litigation and threatened litigation involving the Fund, including
indemnification expenses; expenses attributable to normal and extraordinary investment banking,
commercial banking, accounting, auditing, administrative, appraisal, legal, finder’s, custodial,
transfer and registration services provided to the Fund and any expenses attributable to consulting
services, including in each case services with respect to the proposed purchase or sale of securities
by the Fund that are not reimbursed by the issuer of such securities or others (whether or not any
such purchase or sale is consummated); travel expenses in connection with the investment activities
...

ITEM 7 - TYPES OF CLIENTS
As discussed above, Lock 8 and its General Partners provide investment advisory services to pooled
investment vehicles operating as private investment Funds. Each Fund Investor must meet the
eligibility provisions of the applicable Funds. Specifically, each Investor in the Funds meets
applicable Investor eligibility requirements and is an “Accredited Investor” as defined in Regulation
D under the Securities Act of 1933, as amended (the “Securities Act”), and/or “qualified purchaser”
as defined in Section 2(a)(51) of the Investment Company Act of 1940, as amended (the
“Investment Company Act”), and/or “qualified clients” as defined in the Advisers Act (or who meet
other investor eligibility criteria that may be applicable). For any Fund offered under Regulation S
of the Securities Act, the Investor cannot be a “U.S. Person” as defined in Rule 902.