Pleasant Lake Partners LLC

Item 5 - Fees and Compensation

As further described below, generally, PLP and/or the applicable general partner (“GP” or
“General Partner”) (or other PLP affiliates) are compensated by the Funds through the
payment of management fees and performance-based fees.

Pleasant Lake Partners LLC                                                   Form ADV Part 2A

Management Fees
PLP receives a management fee (the “Management Fee”) from the Funds that is paid
quarterly in advance, ranging from 0.0% to 2.0% per annum of respective assets under
management, depending on the particular Fund, series of interests/class of shares and other
factors, as set forth in the applicable Governing Documents. The Management Fee will be
pro-rated for periods less than a calendar quarter. PLP or the applicable GP may elect to
waive or reduce the Management Fee for certain Funds or certain Fund Investors.

Item 7 - Types of Clients

As described in Item 4 above, PLP provides discretionary investment advisory services to
pooled investment vehicles which are operated as private funds.

Each of the Funds qualifies for exclusion from the definition of investment company under
section 3(c)(7) of the U.S. Investment Company Act of 1940, as amended (the “Investment
Company Act”). Each Investor in the Funds is generally required to be an “accredited
investor” within the meaning of Regulation D of the U.S. Securities Act of 1933, as amended,
and a “qualified purchaser” within the meaning of Section 2(a)(51) of the Investment
Company Act.

Additionally, the Funds generally require a minimum investment or capital commitment, as
applicable, ranging from $2.5 million to $25 million, depending on the particular Fund in
which an Investor subscribes and other circumstances, as set forth in the applicable
Governing Documents. PLP or the applicable GP may waive or reduce the minimum
investment or capital commitment for any Investor, in its sole discretion.

Pleasant Lake Partners LLC                                                  Form ADV Part 2A