Long Walk Management LP

Item 5. Fees and Compensation

With respect to the Clients, the Adviser charges each investor a monthly management fee in arrears
of up to 1% of value of an investor’s capital account in the specific Client as of the end of the month
(the “Management Fee”).

Long Walk may, in its discretion, waive, reduce, or rebate all or part of the Management Fee payable.
Long Walk also charges an incentive allocation (the “Performance Allocation” or “Performance
Fee”), to Clients. The Performance Allocation is explained in detail in the next section. It is important
that each investor who is considering an investment reviews the private placement memorandum,
limited partnership agreement, management agreement, subscription agreement, or other governing

document (individually and collectively, the “Offering Documents”) applicable to the Client for a
complete and detailed description of the fees and expenses applicable to such investment.

While generally not negotiable, the Adviser, in its sole discretion, has and may in the future waive or
modify the Management Fee and the Incentive Allocation for principals, members, employees or
affiliates of the Adviser or any general partner to a Client, relatives of such persons, and for certain
large or strategic investors.

Lower fees for comparable services may be available from other sources.

The Adviser deducts fees directly from the Fund. Fees are deducted on a monthly basis in arrears.
Please refer to Item 15 for more information about this practice.

The Fund pays for other expenses and fees in connection with Long Walk’s advisory services. The
Clients incurs certain charges imposed by third parties in connection with investments, including,
but not limited to, annual maintenance, brokerage, clearance, custody, and administrative fees. Other
expenses the Clients bear include but are not limited to: legal, compliance, administrator, audit,
accounting expenses (including third party accounting services), and any other services or service
provider expenses deemed necessary by Long Walk as detailed in the applicable Clients’ Offering
Documents.

Long Walk does not accept compensation for the sale of securities or other investment products,
including asset-based sales charges or service fees from the sale of mutual funds.

Item 7. Types of Clients

Long Walk’s Clients generally include private funds and separately managed accounts. To be an
investor in the Funds, one must meet the definition of Qualified Purchaser, as defined in the
Investment Company Act of 1940.