ORIX Advisers LLC

Item 5. Fees and Compensation

In connection with its advisory services to Clients, ORIX Advisers and/or its affiliates generally receive a
management fee (“Management Fee”) and performance-based compensation through carried interest,
incentive fees, performance fees, and/or an allocation of profits or similar method of sharing in profits
(collectively referred to as “Carried Interest”).

In addition, Clients bear certain expenses incurred in connection with ORIX Advisers’ management of their
account. Fees, compensation, and expenses vary among Clients, and the details of such fees, compensation,
and expenses payable by a particular Client are set forth in such Client’s Governing Documents. ORIX
Advisers does not have a general fee schedule.

ORIX Advisers, in its sole discretion, does and is permitted to elect to waive, reduce, or defer its
Management Fee and/or Carried Interest for certain investors, including, but not limited to, its employees,
affiliates (including ORIX USA and its subsidiaries, collectively, “ORIX USA Group”), their respective
employees (current and former), family members of such employees, their officers, directors, principals,
members, consultants and any vehicles established for certain aforementioned persons, including employee
vehicles (collectively, “ORIX Persons”), without entitling any other investor to such waiver or reduction.

Management Fee

ORIX Advisers expects to receive a Management Fee from each Client as set forth in each Client’s
Governing Documents. ORIX Advisers expects that the rate for Management Fees charged to Clients will
vary depending on the applicable investment strategy and the services provided. ORIX Advisers does and
will likely in the future, in its sole discretion, waive, reduce, or defer the Management Fee for any Client
both voluntarily and on a negotiated basis via Side Letters or other arrangements, which will not generally
be disclosed to other Clients, and does so, and expects to do so in the future, for ORIX Persons. The fee
structures described herein can be modified from time to time. Fees could differ from one Client to another
Client.

Depending on the arrangement with each Client, the Management Fee will be calculated on the value of the
Client’s managed assets, committed capital, or actively invested capital, in accordance with each Client’s
Governing Documents.

The timing of fee payments is typically set forth in each Client’s Governing Documents. For each Client,
the Management Fee is generally payable quarterly in advance, or at other agreed-upon intervals.

Performance-Based Compensation

ORIX Advisers and/or its affiliates expects to receive Carried Interest from its Clients. In the case of the
Securitized Vehicles, Carried Interest is paid or distributed on a quarterly basis, after such Securitized
Vehicle has achieved a target return. Performance-based fees or other performance-based compensation
generally is calculated based on a percentage of interest and principal proceeds received by such account
as of the payment date after which the target return has been achieved and is generally payable to ORIX
Advisers or an affiliate of ORIX Advisers on a quarterly or annual basis or as investments are partially or

fully realized and/or capital is distributed. ORIX Advisers in its sole discretion, waives, reduces, or defers
Carried Interest, including for investments by ORIX Persons, and is permitted to, in its sole discretion,
waive, reduce or defer Carried Interest for Clients in the future. The timing and calculation of performance-
based fees are described in the relevant Governing Documents of each Client. See Item 6, Performance
Based Fees and Side-by-Side Management.

Additional Fees and Expenses

Please note that the details provided in this section are intended to be a comprehensive general overview of
the additional expenses charged to Clients. Please refer to the Governing Documents of the applicable
Client for additional disclosure on the treatment of expenses.

Investors should review all fees charged by ORIX Advisers, its affiliates, and others, as set out in each
Client’s Governing Documents to understand fully the total amount of fees paid by a Client and, indirectly,
its investors.

Each Client generally is responsible for all of its operating expenses, including the costs and expenses in
connection with the organization of the vehicle, including, if applicable, legal and accounting fees and
expenses, travel and out-of-pocket expenses, and all other costs and expenses incurred in connection with
the offering of interests in the particular vehicle. Further, Clients are responsible for any placement or
similar fees payable to a placement agent in connection with the offering of the interests of a vehicle.

The Securitized Vehicles are responsible for administrative expenses (including indemnification payments)
which include but are not limited to:

   i.   fees paid to the trustee pursuant to the indenture;

  ii.   fees paid to the bank in all its capacities with respect to the Securitized Vehicles, including as
        collateral administrator;

 iii.   fees paid to the administrator,

 iv.    any taxes or governmental fees of the Securitized Vehicle or its subsidiaries,

  v.    fees and expenses paid to the rating agencies in connection with any rating of the notes and the
        collateral obligations of the vehicle (including fees related to surveillance, credit estimates and
        monitoring of ratings);

 vi.    fees paid to any independent accountants, agents, valuation services and counsel of the vehicle;

vii.    any other fees and expenses owed to ORIX Advisers under the asset management agreement and
        indenture with respect to the particular vehicle;

viii.   any fees and expenses in connection with any application for listing of any Securities or any
        withdrawal of any such application;
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Item 7. Types of Clients

ORIX Advisers provides investment advisory services and asset management services to its Clients. ORIX
Advisers does not provide investment advisory services directly to investors in the Securitized Vehicles.

Investors in the Securitized Vehicles are generally required to meet both (i) the definition of a “qualified
purchaser” as such term is defined in the Investment Company Act of 1940, as amended (the “Investment
Company Act”) and (ii) the definition of “qualified institutional buyer” as such term is defined in Rule
144A under the Securities Act of 1933, as amended (the “Securities Act”) or the definition of “institutional
accredited investor” as such term is defined in Regulation D under the Securities Act.

ORIX Advisers currently does not require a minimum account size.