Long Arc Capital LP

Fees and Compensation
Single Investment Funds

LAC’s respective fee arrangements are described in the Single Investment Funds’ Partnership
Agreements. Generally, LAC and its affiliates receive a performance-based “carried interest” with
respect to each Limited Partner equal to 15%, 20%, or up to 30% of such Limited Partner’s
investment profits in respect to such Single Investment Fund. However, LAC and its affiliates do
not receive any management fees directly from LAC INV-3D Limited Partnership, LAC INV-RAIS
LP, LAC INV-Tinubu LP, LAC INV-RS, LLC, LAC-INV RS (Offshore), LLC, LAC INV-RS 2,
LLC, or LAC INV-RS 2 (Offshore), LLC; but receive monitoring or consulting fees from the
underlying portfolio company held by the respective vehicles.

The Single Investment Funds also bear (to the extent not reimbursed by a portfolio company) certain
costs and expenses incurred by LAC and its affiliates in connection with the operation and activities

of the respective Single Investment Funds. These expenses include, but are not limited to: (i) fees,
costs and expenses of any administrators, custodians, attorneys, accountants, and other professionals
(including audit and certification fees and the costs of printing and distributing reports to partners),
(ii) the Partnership’s pro rata portion of all out-of-pocket fees, costs and expenses, if any, incurred
in developing, negotiating, structuring, trading, settling, monitoring, holding and disposing of actual
investments, including without limitation any financing, legal, accounting, advisory and consulting
expenses in connection therewith, including, without limitation, in connection with serving as a
director to a portfolio company or providing services pursuant to the monitoring agreement (to the
extent not subject to any reimbursement of such costs and expenses by entities in which the
partnership invests or other third parties), (iii) brokerage commissions, custodial expenses, other
bank service fees and other investment costs, fees and expenses actually incurred in connection with
actual investments, (iv) interest on and fees and expenses arising out of all borrowings made by the
Partnership, including, but not limited to, the arranging thereof, (v) subject to the restrictions set
forth elsewhere in the Partnership Agreement, the costs of any litigation, directors and officers
liability or other insurance and indemnification or extraordinary expense or liability relating to the
affairs of the Partnership; (vi) expenses of liquidating the Partnership, and (vii) any taxes fees or
other governmental charges levied against or payable by the Partnership and all expenses incurred
in connection with any tax audit, investigation, settlement or review of the Partnership.

LAC Fund I

LAC’s fees are fully described in LAC Fund I’s Partnership Agreement. LAC receives from LAC
Fund I an annual management fee payable quarterly in advance. During the commitment period of
the fund, the annual management fee is equal to 2.0% of aggregate commitments, and after the
expiration of the commitment period, it is equal to 2.0% of the aggregate capital contributions that
have been used to make investments and not been fully realized. The management fee may be
waived, deferred, reduced, or rebated in the General Partner’s sole discretion, including without
limitation, with respect to investments by Limited Partners who are LAC employees or affiliates.

LAC may receive monitoring fees, consulting fees, closing fees, investment banking fees, director’s
fees, transaction fees, management contract termination fees, corporate services fees, commitment
fees, professional services fees, advisory fees, break-up fees, and certain other fees from portfolio
companies or proposed portfolio companies (collectively, all such foregoing fees, “Fees”). Subject
to certain exceptions set forth in the Partnership Agreement, the LAC Fund I’s obligation to pay the
management fee will be reduced by 80% of the Fund’s pro rata share (based on the Fund’s
proportionate ownership interest in such portfolio company) of Fees (net of unreimbursed expenses)
in respect of a portfolio company (other than operations support service costs as defined in the
Partnership Agreement).

LAC and its affiliates engage and retain Operating Advisers and other similar third-party
professionals, none of whom are employees or affiliates of LAC and who receive Fees, equity in
portfolio companies or other compensation in connection with making, managing, or disposing of
the LAC Fund I’s investments. Any such Fees, equity or other compensation so paid to any
Operating Advisers will be retained by such Operating Advisors and will not reduce the
management fee. LAC will be required to pay the costs and expenses incurred by LAC in providing
for its normal operating overhead, including, but not limited to, compensation of its employees and
the cost of providing relevant support and general services (e.g., office rental, secretarial, clerical,
and bookkeeping expenses). LAC Fund I will be responsible for all Organizational Expenses up to

an aggregate cap and for all Partnership Expenses, and expenses associated with the LP Advisory
Board and other advisory councils or investment committees.

“Organizational Expenses” shall mean expenses (including without limitation, fund-raising,
attendance at any fundraising conferences, travel (including without limitation, transportation,
accommodation and meal expenses), printing, legal, communication, marketing, administrative,
mailing, courier, legal, filing, capital raising accounting, and regulatory compliance fees and/or
expenses (including U.S. state “blue-sky” filings, and the initial registrations, filing and compliance
contemplated by the AIFMD) incurred (whether before, on or after the date hereof and whether
incurred by LAC Fund I, the General Partner, LAC or any of their respective affiliates) in connection
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Types of Clients
As described in Item 4 above, LAC provides discretionary advisory services to the LAC Funds,
privately offered pooled investment vehicles. Minimum investment commitments are established
for Limited Partners in each of the LAC Funds; however, the General Partner of each LAC Fund
may, in its sole discretion, permit investments below such minimum.

Methods of Analysis, Investment Strategies and Risk of Loss
LAC’s overriding objective is to conceive, research, identify, and successfully execute
differentiated investment opportunities that generate durable and risk-weighted returns for its
Clients. In seeking to deliver investment outperformance over the long-term, LAC has built an
investment culture that favors process over outcomes and developed what it believes to be robust,
repeatable investment and ownership programs.

LAC’s investment activities begin with fundamental research across sectors and themes to develop
investment theses and source potential target companies. To identify businesses with sustainable,
long-term growth potential, LAC emphasizes four criteria in its underwriting: competitive
distinction, strong unit economics, large addressable markets, and high-quality management teams.
To mitigate downside risk, LAC prefers to buy control of businesses and invest in structurally senior
equity securities that have a liquidation preference.

LAC’s ownership program is predicated on the belief that LAC can generate as much alpha by being
“active owners” of assets as the Firm can through investment selection. Accordingly, for each LAC
portfolio company, the investment team develops a comprehensive “Ownership Plan,” a roadmap
to deliver profitable, organic growth over the life of the investment. To create the Ownership Plan,
LAC leverages its six-part ownership playbook to develop a strategy, convene therequisite talent,
build financial controls, develop the product roadmap, enhance the sales organization, and execute
around well-defined objectives.

Despite LAC’s best efforts to identify and manage promising investment opportunities for the LAC
Funds, an investment in the LAC Funds entails a high degree of risk. Investors must be prepared

to lose all or substantially all their investment in an LAC Fund and no assurance can be given that
an LAC Fund’s investment objectives will be achieved. Risks associated with an investment in an
LAC Fund are described in detail in the LAC Funds’ Partnership Agreements. These risks include,
but are not limited to, the following:

Portfolio Company Risk, Suitable Investment Risk – The Funds will invest in a limited number of
portfolio companies. Hence, the aggregate return of the Funds may be affected by the performance
of a few holdings. To the extent that less capital is raised than targeted, the Funds may make fewer
investments and thus be less diversified. The identification of attractive investment opportunities
is difficult and involves a high degree of uncertainty. LAC anticipates encountering competition in
connection with its selection of investments from other investors, some of which have greater
financial and other resources. In addition, there can be no assurance that the General Partner and/or
LAC will be able to identify a sufficient number of attractive opportunities to meet the investment
objectives of the Fund or deploy any amount of capital, or that the Funds will be able to negotiate
favorable terms with respect to the acquisition (or disposition) of any target portfolio companies.

Risk of Private Company Investments – The Funds’ investment portfolio will consist primarily of
investments in privately held entities, and results in a specified period will be difficult to predict.
While private company investments offer the opportunity for significant gains, such investments
also involve a high degree of business and financial risk and can result in substantial losses. Among
these risks are the general risks associated with investing in companies at an early or middle stage
of development, companies operating at a loss or with substantial variations in operating results
from period to period and companies with the need for substantial additional capital to support
expansion or to achieve or maintain a competitive position. Such companies may face intense
competition, including competition from entities with greater financial resources, more extensive
development, manufacturing, marketing and service capabilities and a greater number of qualified
managerial and technical personnel. Many organizations operated by persons of competence and
integrity have been unable to make, manage and realize a return on such investments successfully.

Illiquidity of Investments; Long-Term Investment – An investment in the Funds should be viewed
as illiquid. It is uncertain as to when profits, if any, will be realized. Losses on unsuccessful
investments may be realized before gains on successful investments are realized. The return of
capital and the realization of gains, if any, will generally occur only upon the partial or complete
disposition of an investment. While an investment may be sold at any time, it is not generally
expected that this will occur for a number of years after the initial investment. Prior to such time,
there often will be no current return on the investments. The Funds are not intended to be short-
term investments. Even if the investment strategy of the Funds proves successful, it is unlikely to
produce a realized return to investors for a number of years.

Reliance on the General Partner, the Management Company (LAC) and the Portfolio Company
Management – Control over the operation of the Funds will be vested entirely with LAC, and the
Funds’ future profitability will depend largely upon the business and investment acumen of the
investment team. The loss of service of any of the members of the investment team could have an
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