Park Street Capital Advisers LLC

ITEM 5 – FEES AND COMPENSATION

Compensation and Fee Schedules
An advisory fee is payable to Park Street at the time the management fee is paid by each Park Street
Fund to its respective general partner, which is generally the first day of each fiscal quarter,
commencing with the fiscal quarter in which the Park Street Fund has its initial closing (or in some
cases, when it makes its initial capital call). In certain circumstances, the advisory fees payable to
Park Street could be negotiable and/or waived in the sole discretion of Park Street or the applicable
general partner. Specific fee disclosure is not provided in this brochure as all clients are qualified
purchasers as defined in Section 2(a)(51)(A) of the Investment Company Act of 1940 (as amended,
the “Investment Company Act”). All investors should review the Governing Documents for each
Park Street Fund in conjunction with this brochure for complete information on the fees and
compensation payable with respect to a particular Park Street Fund.

Deduction of Fees
The general partner of each Park Street Fund is authorized under its Governing Documents to charge
and deduct management fees (which includes the advisory fees) directly from the assets of the Park
Street Funds, at the times and in the amounts described in this Item 5 and in the Governing
Documents.

Other Fees and Expenses
In addition to the fees payable to Park Street, the Park Street Funds bear all costs and expenses of its
operation and certain charges imposed by third parties as set forth in each Park Street Fund’s
Governing Documents, including without limitations, legal, accounting and audit expenses, fund
administration, investment expenses such as commissions, research fees, liability insurance premiums,
custodian or brokerage fees, interest on borrowings, expenses of annual meetings with the Park Street
Funds’ investors, fees and expenses of the Park Street Funds’ advisory boards, and any other reasonable
expenses (including travel expenses) related to the purchase, holding, sale, or transmittal of the Park
Street Funds’ investments. Park Street bears the costs of providing services to the Park Street Funds,
including marketing and non-research related computer hardware and software expenses, as well as
ordinary overhead expenses, including rent, furniture, fixtures, equipment, office supplies, clerical
expenses and all salaries, bonuses and benefits paid to, or on behalf of, analytical and support
personnel, in accordance with each Park Street Fund’s Governing Documents.

As funds of funds, each Park Street Fund also generally pays carried interest, management fees,
advisory fees and/or other fees and expenses to the managers of the underlying private investment
funds in which such Park Street Fund invests that are not affiliated with Park Street (each, a “Portfolio
Fund”) in accordance with each Portfolio Fund’s governing documents. Carried interest and any fees
and expenses paid to Park Street for investment advisory or management services are separate and distinct
from the carried interest, fees and expenses charged by the independent investment advisers or general
partners of the Portfolio Funds.

The Park Street Funds could incur other fees and expenses charged by brokers and other third parties,
such as investment banking fees, wire transfer fees, electronic fund fees, fund administration service
provider fees, other fees and taxes on brokerage accounts and securities transactions, and costs
otherwise authorized by the Park Street Fund’s Governing Documents. In the event a Park Street Fund
receives a distribution of publicly traded securities from one of its Portfolio Funds, that Park Street
Fund could incur brokerage or other charges in liquidating that security. See “Item 12. Brokerage

Practices” below for further discussion of the factors that Park Street considers in selecting or
recommending broker-dealers for Park Street Fund transactions and determining the reasonableness
of their compensation.

Timing of Payments
Payments of advisory fees, like payments of management fees, are generally made quarterly in
advance in accordance with the terms of each of the Park Street Fund’s Governing Documents. Park
Street’s services may be terminated by any of the Park Street Funds at any time by prior written notice
to Park Street. Upon termination of any account, a pro rata portion of any prepaid, unearned fees will
be calculated by Park Street, and any earned, unpaid fees will be due and payable. Please refer to the
Park Street Funds’ Governing Documents for more complete information on the timing of
management and advisory fee payments.

Transaction Based Compensation
Neither Park Street nor its supervised persons will receive any compensation with respect to the
purchase or sale of securities or other investment products by any Park Street Fund.

ITEM 7 – TYPES OF CLIENTS

Park Street provides advice to pooled investment vehicles, consisting of the Park Street Funds. The
limited partners of the Park Street Funds include, without limitation, corporations, endowments,
foundations, trusts, estates, state or municipal government entities, non-U.S. institutions, high net
worth individuals, and pension and profit-sharing plans. Park Street and its related persons require
that each limited partner in each of the Park Street Funds be: (i) an “accredited investor” as defined
in Regulation D under the Securities Act of 1933, as amended (the “Securities Act”), and (ii) a
“qualified purchaser” as defined in the Investment Company Act. The Park Street Funds are not
required to register as investment companies under the Investment Company Act in reliance upon
certain exemptions available to the Park Street Funds.

Park Street or its related persons establish certain Park Street Funds (“Park Street Feeder Funds”)
to address certain tax, regulatory or other requirements. Each Park Street Feeder Fund, if formed,
would be a limited partner of a Park Street Fund and interests in such Park Street Feeder Fund would
be held by the investors who elect to participate in the Park Street Fund through such Park Street
Feeder Fund. In addition, Park Street forms other alternative investment vehicles (collectively
“AIVs”) or parallel funds formed for the purpose of facilitating certain investments by a Park Street
Fund and/or its investors. Prospective investors are requested to refer to the Governing Documents of
the applicable Park Street Fund for complete details on any Park Street Feeder Fund established by
such Park Street Fund and a Park Street Fund’s ability to make investments through AIVs or parallel
funds.

Details concerning applicable investor suitability criteria and minimum investment are set forth in the
respective Park Street Fund Governing Documents and subscription materials. Further, Park Street
describes minimum investment in the respective Park Street Fund in the Firm’s Form ADV, 1A. The
general partner maintains discretion to accept less than the minimum investment threshold specified
in such documents.