New Vintage Partners LLC

Item 5: Fees and Compensation

The fees applicable are set forth in detail in its respective Offering Documents. A brief summary
of such fees is provided below.

Management Fee

The Funds

New Vintage generally charges an investment management fee (“Management Fee”) of 1.5% per
annum. Investors pay a quarterly Management Fee of 0.375%. In addition, certain vehicles charge
a one-time management fee based on the aggregate amount of the limited partner’s
commitment. The Management Fee may be reduced by Cashless Contributions. Specific details
are set forth in each respective Fund’s limited partnership agreement, and/or other agreements
governing the terms and conditions of investments in the Funds.

Generally, the Management Fee is not negotiable. However, New Vintage may, in its sole
discretion, waive, reduce or modify the Management Fee at any time.

Other Types of Fees or Expenses

From the Management Fee, the General Partner shall bear all normal operating expenses
incurred in connection with the management of the Partnership, the General Partner and the
Management Company, except for those expenses borne directly by the Partnership. Such
normal operating expenses to be borne by the General Partner (or its designees) shall include,
without limitation, expenditures on account of salaries (including bonuses), wages and other
expenses of employees, the General Partner or the Management Company, overhead and rentals
payable for space used by the General Partner (or its designees) or the Partnership, office
expenses, expenses for clerical services.

Partnership Expenses shall include, without limitation: Organizational Expenses of the
Partnership (subject to the limitations set forth herein); any placement agent fees; the
Management Fee; any sales or other taxes, fees or government charges which may be assessed
against the Partnership and all expenses incurred in connection with any tax audit, investigation,
administrative proceeding, settlement or review of the Partnership; 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 the cost of forming and operating any AIV, and
whether or not any such purchase or sale is consummated); expenses of members of the Advisory
Board (including expenses of voting and non-voting members) incurred in connection with their

duties (including costs and travel-related expenses, set-up, room and board, honorarium, dining,
entertainment and other related expenses incurred in connection with the foregoing), whether
individually or as a group; the costs and expenses (including travel-related expenses) of annual or
special meetings of the Advisory Board or the Partnership or any other meetings or conferences
with Limited Partners or their representatives, whether individually or in a group, including costs
and expenses associated with the presence of the Partnership’s lawyers, accountants or advisers
at such annual or special meetings or such other meetings or conferences; costs and expenses
associated with preparation of the Partnership’s financial statements and tax returns and the
Partnership’s reports to the Partners, including the costs of preparing, printing and distributing
communications and reports to Partners and monitoring Partnership portfolio activity (including,
without limitation, accounting and financial management software, software to host meetings
and deliver reports, software used in connection with marketing, investor reporting, relationship
management and portfolio management and other third party Expenses incurred in connection
with secure communications to Partners and the preparation of financial statements, reports, tax
returns and related schedules, including, without limitation, Schedules K-1, Schedules K-2 and
Schedules K-3, and other accounting or similar administrative functions; software licenses and
other software fees or costs (including allocations of software licenses and other software fees
or costs shared with affiliates, as reasonably determined by the General Partner), and expenses
attributable to automated reporting systems and other back-office support functions; all
expenses incurred in connection with analytical, database, or other third-party research services
and related software and/or terminals for the delivery of such services; costs associated with
cybersecurity and disaster recovery services, software, and consultants in respect of the
Partnership’s operations; the representation of the Partnership or the Partners by the Partnership
Representative; research-related expenses (including, without limitation, publications and/or
subscriptions used in connection with sourcing transactions and developing models); fees and
interest expense arising out of all borrowings made by the Partnership and entities formed to
facilitate Portfolio Investments, including, but not limited to, the costs and expenses incurred in
arranging, negotiating, structuring, hedging, entering into, and amending any credit facility and
of any lenders, investment banks, and other financing sources; any extraordinary expense of the
Partnership, including all fees and expenses relating to litigation and threatened litigation, audit,
investigation, administrative or other proceedings, settlement, or review of the business activities
of the Partnership, including indemnification expenses and the amount of any judgments,
settlements, or fines paid in connection with any litigation, governmental inquiry, investigation,
or proceeding involving the Partnership or any Portfolio Investments; all out-of-pocket costs and
expenses incurred in developing, negotiating, structuring, restructuring, monitoring, holding,
and, to the extent applicable, disposing of Portfolio Investments and potential Portfolio
Investments (whether or not consummated), including, without limitation, expenses attributable
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Item 7: Types of Clients

Our Clients are the Funds. An investment in a Fund is open to, among others, institutions, pension
plans, endowments, high net-worth individuals, financially sophisticated individuals, and other
sophisticated investors.

The minimum initial investment in a Fund is typically $100,000, depending on the particular Fund.
In most cases, the General Partners and/ or the Firm, as applicable, may, in its sole discretion,
accept a lower initial investment from time to time.