New Leaf Venture Partners LLC

Item 5 - Fees and Compensation

Compensation and Fee Schedules

New Leaf typically receives an advisory fee from each of the Funds, which is generally
equal to a percentage of the capital commitments to such Fund. The fee percentage and/or
the base upon which the fee is calculated may vary with the size of the Fund and may
also vary over the life of the Fund, as negotiated and determined at the time the Fund is
established and as set forth in its Governing Documents. In addition, a related person of
New Leaf, as general partner of a Fund, will typically receive certain allocations and
distributions calculated and charged based on a share of capital gains on or capital
appreciation of the assets of such Fund, as negotiated and determined at the time such
Fund is established and as set forth in its Governing Documents. These allocations and
distributions are commonly known as “carried interest.” Different Funds may be subject
to different management fees and performance-based compensation arrangements and
certain funds (such a co-investment funds) may not be subject to any advisory fees and/or

Types of Clients

New Leaf generally provides investment advice to pooled investment vehicles, such as
the Funds. The limited partners of (or investors in) the Funds may include corporations,
financial institutions, funds-of-funds, governmental bodies or agencies, insurance
companies, endowments, foundations, trusts, estates, high net worth individuals, and
pension and profit-sharing plans.

In connection with the formation and management of a Fund, New Leaf may form certain
related entities for such Fund. New Leaf may establish vehicles to address tax, legal or
regulatory issues or requirements of certain investors in such Fund or for other purposes.

New Leaf may also form “parallel funds” to invest alongside a Fund in all of its
investments. In addition, New Leaf may form “alternative investment vehicles” or
special purpose vehicles (collectively, “AIVs”) for the purpose of facilitating certain
investments by one or more Funds. Please refer to the Governing Documents of the
applicable Fund for more complete details on parallel funds and AIVs.

New Leaf may also provide investment management and supervisory services to separate
account clients.

Minimum Investment Requirements

Interests in the Funds are offered in private placements under the U.S. Securities Act of
1933, as amended (the “Securities Act”). As a result, New Leaf generally offers limited
partner (or equivalent) interests in the Funds to a limited number of “accredited
investors” as defined in Regulation D under the Securities Act and, in most cases,
exclusively to “qualified purchasers” as defined in Section 2(a)(51) of the U.S.
Investment Company Act of 1940, as amended.

In general, the minimum investment commitment required of an investor to participate in
a Fund is $5,000,000; however, the general partner of each Fund has discretion to
increase or reduce the minimum investment commitment. Investors and prospective
investors in each Fund should refer to the Governing Documents of such Fund for more
complete information on minimum investment requirements for participation in such
Fund.