Pier 88 Investment Partners LLC

Item 5 – Fees and Compensation

A. Fee Schedule

     1. Advisory Fee

Pier 88 generally receives a management fee for investment advisory services (the “Management
Fee”). The Lake Geneva Fund has two series for investors. Series B and Series C have a 1.50%
per annum management fee with different incentive allocation terms described below.

The Growth Equity Fund I and the Growth Equity Fund II each have a 1.00% per annum
management fee based on capital commitments. The management fee is typically paid annually in
March with a fee period that includes a number of months in arrears and a certain number of
months, but not more than six (6) months, in advance. Pier 88 pays all expenses of the Growth
Equity Fund I and the Growth Equity Fund II up to the amount of annual management fees and all
additional expenses will be paid by the respective fund accordingly.

Growth Equity Fund III and Growth Equity Fund IV do not pay a Management Fee.

During the Enterprise Software Fund’s investment period, the Fund has a 2.00% per annum
management fee based on capital commitments payable quarterly in advance. After the Investment
Period ends, the management fee per annum is 2.00% payable quarterly in advance based on the
capital contributions in respect of investments not realized or permanently written down as of the
end of the most recent quarter.

During the Andina Fund’s investment period, the Fund has a 1.50% per annum management fee,
for investors that are advisory clients to the sub-adviser, and 2.00% per annum management fee
for all other investors, based on capital commitments and payable quarterly in advance. After the
Investment Period ends, the management fee per annum is 1.50% per annum management fee, for

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investors that are advisory clients to the sub-adviser, and 2.00% per annum management fee for
all other investors payable quarterly in advance based on the capital contributions in respect of
investments not realized or permanently written down as of the end of the most recent quarter. In
the event that an investor terminates its advisory relationship with the sub-adviser to the Andina
Fund, the investor is subject to the management fee applicable to investors that are not advisory
clients of the sub-adviser effective as of the date of the termination of the advisory relationship.

In addition, management fees may be offset in the Enterprise Software Fund and the Andina Fund,
as set forth in the applicable governing documents, of all directors, monitoring and other fees (other
than consulting fees) paid by the portfolio company to Pier 88, the General Partner, the Principals
of the General Partner, or the sub-adviser, provided, the management fee offset will not apply to
any directors fees received by the Principals of the General Partner when serving as an independent
director of a portfolio company, in an unaffiliated capacity from the General Partner and Pier 88.

For Separate Account clients, terms vary depending on the advisory agreement. For Separate
Account clients where Pier 88 manages on a direct basis, Pier 88 generally receives an annual
investment management fee ranging from 0.31% to 0.85% per annum on total assets managed by
Pier 88. For sub-advisory relationships with other financial services firms, Pier 88 receives a
portion of the net advisory fees, as defined in the sub-advisory agreement, received by the financial
service firm from the mutual fund it advises.

As stated above, Pier 88 also receives an annual fixed fee, with a possibility of a discretionary
bonus, for proprietary data provided to a third-party company.

   2. Incentive Allocation and Carried Interest

From the Lake Geneva Fund, Pier 88 generally receives an incentive allocation equal to a
percentage of the net income allocated to each investor’s capital account for the year, but only to
the extent net income allocated to that investor exceeds any cumulative losses that were allocated
to that investor for earlier periods and that have not been recovered (“loss carryforwards” or “high
water mark”). The incentive allocation for Series B investors is 10%, typically made at the end of
each calendar year. The incentive allocation for Series C investors is 15% based on a 3-year
performance period before the incentive allocation is earned. Each performance period will
commence when a contribution is made and end on the last December 31 prior to the third
anniversary thereafter. Please see additional information in the Fund governing documents.

From the Enterprise Software Fund, Pier 88 will receive a carried interest of 20% of distributions
made once limited partners have received aggregate distributions equal to its capital contributions.
The incentive allocation and carried interest will accrue each year, if any, until earned. From the
Andina Fund, Pier 88 will receive a carried interest of 17.50%, for investors that are a client of the
sub-adviser, and 20% for all other investors, of distributions made once investors have received
aggregate distributions equal to its capital contributions. In the event that an investor terminates
its advisory relationship with the sub-adviser to the Andina Fund, the investor is subject to the
carry percentages applicable to investors that are not advisory clients of the sub-adviser effective
as of the date of the termination of the advisory relationship. Pursuant to Growth Equity Fund

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IV’s governing documents, Pier 88 Growth Management will receive a carried interest of 2.5% of
distributions made once investors have received aggregate distributions equal to its capital
...

Item 7 – Types of Clients

Pier 88 provides discretionary investment advice and management to the Clients. Fund investors
generally must be an “accredited investor” (as defined in Regulation D under the Securities Act of
1933), or a “qualified purchaser” (as defined in Section 2(a)(51) of the U.S. Investment Company
Act of 1940, as amended) for 3(c)(7) Funds, an investor who is eligible to enter into a performance
fee arrangement, and must meet other criteria as specified in the governing documents. The Funds
reserve the right to impose additional requirements for subscription by particular types of investors
(including if it determines the Fund should rely on Section 3(c)(7) rather than Section 3(c)(1) of
the Investment Company Act to prevent regulation under that Act) and investors who reside in
particular jurisdictions, and may decline to accept the subscription of any prospective investor.

The Fund may waive certain of these standards in limited circumstances and may apply additional
admission standards. Each prospective investor must represent and warrant in the subscription
document that, among other things, it has reviewed and understands the risks of an investment,
and it has the financial knowledge and experience to evaluate such investment. In addition to being
financially sophisticated, each prospective investor must be able to bear the substantial risks of an
investment in the Funds, including the loss of the entire investment. The minimum investment
commitment for the Lake Geneva Fund is $250,000, subject to waiver at the discretion of Pier 88.
The minimum investment commitment for the Lake Geneva Offshore Fund is $250,000, subject
to waiver at the discretion of Pier 88. There is generally no minimum investment for the Growth
Equity Funds, however, Growth Equity Fund I, Growth Equity Fund II and Growth Equity Fund
IV have a minimum investment commitment of $250,000, $100,000 and $10,000, respectively,
subject to waiver at the discretion of Pier 88. The minimum investment commitment for the
Enterprise Software Fund is $1,000,000 for individuals and $5,000,000 for institutional investors,
subject to waiver at the discretion of Pier 88. The minimum investment commitment for the Andina
Fund is $1,000,000 for individuals and $5,000,000 for institutional investors, subject to waiver at
the discretion of Pier 88.

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Separate Accounts are offered on a direct basis to institutional investors or through sub-advisory
arrangements with other financial services firms.