NexWave Capital Partners LLC

Item 5.    Fees and Compensation

     A. Advisory Services and Fees

         While the management and performance fees vary by Client, our basic fee schedule for
 Clients is as follows: the Adviser generally receives a management fee based on the net assets under
 management (approximately 0% to 2.50%, depending on the Fund or Account), and an acquisition
 fee, if applicable, of approximately 1.0% of the capital contributions made to the Fund. An
 incentive or performance fee, if applicable, is paid to a related person of the Adviser generally of
 up to 20% of the account’s profit or cash distributions, if any, charged to each Client subject in
 certain cases to a loss carry forward provision. We may receive a higher incentive or performance
 fee for certain Clients. In addition, we negotiate lesser or different fee schedules for particular
 Clients (or underlying investors) based on a variety of factors, including the size of the account,
 the investor’s relationship with the Adviser or length of the investor’s commitment. For certain
 Clients (or underlying investors that are principals or employees of the Adviser or employees of
 the related persons of the Adviser and their family members), management and performance fees,
 and acquisition fees, if applicable, are waived entirely. We structure any performance or incentive
 fee arrangement in accordance with Section 205(a)(1) of the Investment Advisers Act of 1940, as
 amended (the “Advisers Act”) and the rules and regulations promulgated thereunder, including the
 exemption set forth in Rule 205-3 permitting performance fee arrangements with “qualified
 clients.”

     B. Payment of Fees

         The IMAs, PPMs or other Fund documents, govern the terms of compensation and the
 manner in which we charge fees to each Client. Subject to the terms of the IMAs, PPMs or other
 Fund documents, Clients are either billed directly for fees or authorize us to deduct fees directly
 from their account. We directly deduct our fees from the Funds. Our management fees are paid
 monthly in advance or arrears, depending on the Client, generally based on beginning net assets
 for each month; however, for certain Funds, management fees are calculated based on aggregated
 capital contributions in respect to the Fund as of the final closing date or after the investment period
 as defined in the applicable Fund’s organizational documents, as of the first day of each calendar
 month. Incentive fees are generally charged subject to a high-water mark or hurdle upon cash
 distributions. Fees are prorated for partial periods.

     C. Additional Expenses and Fees

Our fees are exclusive of other charges and expenses which are paid by Clients. Such charges and
expenses are set forth in the IMAs, PPMs or other documents. As a general matter such charges and
expenses include, among other things, custodial charges, brokerage fees, commissions and related
costs; interest expenses; taxes, duties and other governmental charges; transfer and registration fees
or similar expenses; costs associated with foreign exchange transactions; other portfolio expenses;
and costs, expenses and fees (including, investment advisory and other fees charged by investment
advisers with, or funds in which the Client’s account invests) associated with products or services
that may be necessary or incidental to such investments or accounts. To the extent assets of Clients
are invested in pooled investment vehicles either recommended by the Adviser or sponsored or
managed by the Adviser or a related person of the Adviser, Clients will bear their pro rata share of

the underlying pooled investment vehicle’s operating and other charges and expenses including, in
addition to those listed above: sales expenses, legal expenses; borrowing costs; insurance costs
(including D&O and E&O insurance and deductibles and cyber) and any extraordinary
administrative or operating fees or expenses; tax, fees or other governmental charges; and costs
related to the production and distribution of reports to investors; brokerage commissions; research
fees and expenses; internal and external accounting, audit and tax preparation expenses; and
organizational expenses; their pro rata share of the investment management fee and other fees of
the underlying pooled investment vehicle, which are in addition to any fees or other compensation
paid to the Adviser; certain Account assets are invested in a master-feeder structure; feeder funds
bear a pro rata share of the expenses associated with the related master fund; Clients will incur
brokerage and other transaction costs; and borrowing costs. Please refer to the Funds offering and
organizational documents for a detailed description of charges and expenses. Please refer to Item

Item 7.        Types of Clients

         We currently provide investment advisory services to (i) privately offered pooled
investment vehicles that are offered to high net worth financially sophisticated individuals and
institutional investors; and (ii) with respect to the Accounts, principals of the Adviser and their
families.

        The minimum account size necessary to open and maintain an account with us varies by
Client, type of Client or relevant strategy. With respect to any Client that is a pooled investment
vehicle, any initial or additional subscription minimums are disclosed in the applicable PPM. We
do not impose a minimum account size for the Accounts.