North Island Ventures LLC

ITEM 5: Fees and Compensation

Management Fee

As set forth more fully in the Funds’ Governing Documents, NIV generally will receive an annual
management fee up to 2.5% of a Fund’s committed capital or an investor’s capital account balance.
Investors in the Funds should consult the relevant Fund’s Governing Documents for additional
information on the calculation of the management fee.

Billing

The management fees of the Funds are paid quarterly in advance and automatically deducted from
the Funds. Prorated refunds will be provided for partial quarters, if any, to the extent applicable.

Carried Interest

As set forth more fully in the Funds’ Governing Documents, the performance-based compensation
paid by a Fund generally is allocated to an affiliate of NIV in its capacity as a general partner of a
Fund (each, a “General Partner”) when distributions are made to the investors and is based on a
“carried interest percentage”, in the case of a closed-end Fund, and based on the increase in the net
asset value of an investor’s capital account, in the case of an open-end Fund. The carried interest or
performance allocation percentage charged to a Fund is detailed in such Fund’s Governing
Documents, but generally the carried interest percentage of a Fund equals 20% of a Fund’s return on
capital or increase in the net asset value of an investor’s capital account, as applicable, subject to
certain conditions, and may be greater than 20% if certain performance targets are met. Investors in
the Funds should consult the relevant Fund’s Governing Documents for additional information on
the calculation of the carried interest.

Waiver of Management Fee and Carried Interest

Depending on the Fund and in accordance with the relevant Fund’s Governing Documents, a
General Partner may, in its sole discretion, elect to waive management fees, performance allocations or
carried interest with respect to investors in a Fund.

Ancillary Fees

NIV and its affiliates and employees of NIV (in their capacity as such) may, but ordinarily do not
expect to, earn fees and other income from services provided or related to portfolio investments or in
connection with portfolio investments or prospective portfolio investments, such as advisory fees, due
diligence fees, structuring fees, servicing fees, directors’ fees, advisory board member fees, break-up
fees or any similar fees or compensation. In addition, NIV or its affiliates may in the future earn fees
from the development, design or marketing of technology, code or apps, which may be available or
marketed on platforms or other forums in which the Funds have invested. NIV and its affiliates will
keep any profits, commissions, fees or other income earned by them in connection with any such
activities. Neither such amounts nor other types of income earned by NIV and its affiliates, including
all income unrelated to the Fund’s activities, will reduce the performance allocation, or management
fee or other amounts payable by the Fund to NIV or its affiliates, and the Fund will not participate in
any such profits, commissions, fees or other income.

Expenses

As set forth more fully in the Funds’ Governing Documents, a Fund and its investors will incur
other expenses separate and apart from the management fees and carried interest. The specific
expenses applicable to a Fund vary among the Funds and investors are encouraged to carefully review the
Governing Documents of the applicable Fund. These other expenses include, among other expenses:
(a) expenses that are attributable to the organization of the Fund, the General Partner of the Fund and the
management company of the Fund and the sale of interests in the Fund to the investors and to any investors
of a parallel Fund (including without limitation, legal, travel, accounting, filing, capital-raising and other
similar expenses and any amounts reimbursed to any person acting on behalf of the general partner of
the Fund or any of its affiliates in connection with the organization of the Fund or the sale of interests
in the Fund); (b) all administration costs and expenses, including fees of the administrator (including
any fees and expenses related to administration, accounting, audit, investor relations, tax preparation

and related reporting, data extraction and other types of reporting); (c) interest expenses (including
interest on margin); (d) custodian and transfer agency services (including the costs, fees and expenses
associated with the opening, maintaining and closing of bank accounts, custodial accounts and accounts
with brokers on behalf of the Fund (including customary fees and charges applicable to transactions
with such broker accounts)); (e) legal, accounting, auditing and tax preparation fees and expenses
(including preparation costs of financial statements, tax returns and reporting requirements); (f) fees
paid to a proxy agent, legal, fees and expenses related to portfolio exposure and performance
management systems, risk management services and software related to trade reconciliation, treasury,
margin, financial and counterparty management, risk management, performance reporting, brokerage and
clearing commissions and services and similar expenses necessary for the Fund to receive, buy, sell,
exchange, trade and otherwise deal in and with Investments and other property of the Fund; (g) valuation
and quotation services (e.g., Bloomberg terminals, historical and live financial data and other similar
services and data feeds), software, subscriptions, and databases for the purposes of sourcing and
monitoring investments and trade order management systems (including systems that facilitate trade
compliance, commission management, stock locates and transaction cost analysis, and third party service
providers used for implementation, custom reporting, updates, consultations, support, maintenance,
monitoring and data extracts); (h) premiums and other costs for liability or other insurance (including
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ITEM 7: Types of Clients

The Firm provides investment advisory services to private investment funds, including venture capital
funds and open-end funds, organized as limited partnerships, limited liability companies, or other legal
entities. These Funds are not registered under federal securities laws and typically utilize sophisticated
investment strategies and proprietary investment models.