Old Hickory Partners Management LP

Item 5         Fees and Compensation

The following provides a general description of the fees, compensation, and expenses that the
Funds pay. The Governing Documents describe such fees, compensation, and expenses in much
greater detail. Investors in the Funds should refer to the Governing Documents for a more detailed
description of the fees, compensation, and expenses.

Item 5.A. and 5.B.

This section provides a general description of the fees, compensation, and expenses that the Funds
are generally responsible for paying. Each Fund’s Governing Documents describe such fees,
compensation, and expenses in much greater detail. Investors in the Funds should refer to each
Fund’s Governing Documents for an accurate description of such Fund’s fees, compensation, and
expenses. OHP or its affiliates generally receive management fees and carried interest
distributions.

In consideration of OHP’s investment advisory and other services, OHP is entitled to receive a
quarterly management fee from each of the Funds, which is generally equal to 0.5% (2.0%
annually) of the applicable Fund’s committed capital during the Fund’s commitment period and
0.5% (2.0% annually) of the Fund’s invested capital following the commitment period (the
“Management Fee”). The percentage and/or the base upon which the Management 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 such Fund is established and as set forth in its Governing
Documents. The Management Fee is calculated and paid at the first of each calendar quarter for
such quarter.

In addition, affiliates of OHP are entitled to receive distributions of carried interest for each Fund,
which, subject to certain hurdles and restrictions, such as a preferred return of six percent (6%)
(“Preferred Return”), could equal up to twenty-five percent (25.0%) of such Fund’s profits
(“Carried Interest”). OHP’s affiliates generally do not receive Carried Interest until all investors
have received aggregate distributions equal to the sum of their capital contributions to such Fund,
plus the preferred return.

Old Hickory Fund I GP, LLC and Old Hickory Fund II GP, LLC, both Delaware limited liability
companies, are the Funds’ general partners (“General Partners”). Each Fund’s General Partner has
discretion to reduce, waive or calculate differently the Management Fees and/or Carried Interest
distributions with respect to certain Limited Partners, including, without limitation, Limited
Partners that are (i) strategic investors or operating partners, or (ii) affiliates or employees of, or
advised by, the General Partner or the Adviser, members of the immediate families of such persons
and trusts or other entities for their benefit.

Management Fees are typically funded with capital contributions drawn for such purpose but may
also be funded with or withheld from proceeds from investments or borrowed funds. Carried
interest distributions generally will be distributed to OHP’s affiliates from time to time upon the
disposition of investments by a Fund and are distributed to such affiliate in accordance with the
terms of the applicable Fund’s Governing Documents.

Item 5.C.

Each Fund will bear all costs and expenses related to the organization of such Fund and the
marketing and offering of interests in such Fund, including legal and accounting fees, printing
costs, travel, “blue sky,” and other regulatory filing fees and expenses and out-of-pocket expenses,
but not including placement fees (collectively, “Organizational Expenses”). Certain expenses,
generally, Organizational Expenses in excess of a maximum amount will be borne by OHP and its
affiliates.

Each Fund will also bear all costs, expenses, liabilities and obligations relating to such Fund’s
activities, investments and business (collectively, “Partnership Expenses”) including, without
limitation: (i) administrative fees, costs and expenses related to the operation of each Fund,
including the fees and expenses of accountants, lawyers, third-party administrators and other
service providers; (ii) fees, costs and expenses incurred in evaluating, negotiating, structuring,
acquiring, appraising, financing, refinancing, holding, developing, monitoring, managing,
disposing of or otherwise dealing with investments pursued by or for such Fund (whether or not
such Fund actually invests therein), including any “dead-deal” costs, spread and other
commissions, bank charges, administration expenses, accounting expenses, custody fees, initial
and variation margin, transfer fees, registration fees, interest on debit balances or borrowing,
reasonable travel expenses, legal, due diligence, investment banking, brokerage, reporting,
projections, valuation, appraisal, tax, accounting, audit, financing, insurance, consulting, leasing,
inspection and indemnification expenses and other fees and out-of-pocket costs related thereto,
(iii) fees, costs and expenses, if any, with respect to arranging for financing for each Fund, any
subsidiary, or any other investments; (iv) consulting and risk management fees; (v) legal expenses;
(vi) interest expenses, all costs of making temporary investments, brokerage commissions and
other investment costs incurred by or on behalf of each Fund; (vii) fees, costs and expenses
incurred in organizing, forming, maintaining and dissolving each subsidiary and any other entity
formed to facilitate any investments; (viii) taxes, fees and other equivalent governmental charges
levied against the each Fund, any investment or the income thereof, fees of auditors, counsel and
other advisors of each Fund, insurance premiums, and litigation costs of each Fund; (ix) certain
indemnified expenses incurred or related to any investment, and any other extraordinary
administrative or operating fees or expenses (e.g., litigation); (x) costs, including the costs of
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Item 7         Types of Clients

Currently, OHP provides investment advisory services to private credit funds. In the future, OHP
may sponsor additional pooled investments and co-investment vehicles. The Funds rely on certain
exceptions from the definition of “investment company” in the Investment Company Act of 1940,
as amended (the “1940 Act”); accordingly, none of OHP’s Funds are registered as an investment
company under the 1940 Act.

OHP determines in its sole discretion any requirements for entering into an investment advisory
contract with a fund, including whether a fund is large enough to implement its desired investment
program.

Typically, OHP’s Funds require minimum investment amounts of $2,000,000, but such amounts
may be reduced with the prior agreement of OHP, subject to applicable legal requirements.

Fund interests are offered and sold generally to investors that are (i) “accredited investors” as
defined under Regulation D of the Securities Act of 1933, as amended, (ii) “qualified clients” as
defined under the Investment Advisers Act of 1940 (the “Advisers Act”), as amended, and (iii)
“qualified purchasers” as defined under the 1940 Act, as amended, or otherwise qualified to make
an investment in each Fund pursuant to applicable securities laws.