NW1 Partners US LLC

Item 5 – Fees and Compensation

Advisory Services Compensation

The management fees received by NW1 US from its Clients are determined based on the
calculation methodology set forth in the respective Client Documents. Because some of its Client
arrangements are bespoke, in certain instances, management fees charged by NW1 US may be
negotiable and the amounts of fees, therefore, will vary as between Clients. Examples of
management fee arrangements that NW1 US currently has in place include: (i) a percentage of
net invested capital, paid quarterly in arrears; (ii) a percentage of capital commitments, paid
quarterly in arrears; and (iii) an annual advisory fee, paid in monthly installments in advance
(the amounts of which are fixed as set forth in the relevant Client Documents).

Termination and Fees

The events under which NW1 US’s management agreements can be terminated and the resulting
impact on economic arrangements (e.g., management fees) are addressed in the relevant Client
Documents.

Brokerage Fees or Costs

Item 7 – Types of Clients

As noted in Item 4 above, NW1 US advises pooled investment vehicles, including private funds
(some of which make investments through one or more other private funds which, in most cases,
are advised by NW1 US) and funds of one vehicles, and joint ventures. It anticipates that future
clients will generally include those described above, and investors will include institutional
investors, asset managers, family offices, high net worth individuals, pension funds and/or
endowments. NW1 US will generally only open a client account with at least $20 million in
assets.