PPC Enterprises LLC

Item 5 – Fees and Compensation
       1.      Fees and Compensation

PPC charges an annual management fee with respect to each budget year of the Fund (from April 1
through March 31) determined in accordance with the budget process described in the Governing
Documents. The management fee is payable in four equal installments on April 15, July 15,
October 15 and January 15 for the three-month periods commencing on April 1, July 1, October 1,
and January 1 of such budget year. For the budget year that commenced on April 1, 2025, PPC
received an annual net management fee (net of any fee offsets) of approximately $20,679,834.
The annual management fee in respect of the budget year that begins on April 1, 2026 is expected
to be approximately 1.330% of the aggregate undrawn capital commitments of the Special
Members of Series A of the Company, Series A of PPC AV 1 and the IDF (other than affiliates of
the Fund) plus all capital contributions made by such persons in respect of investments in current
portfolio companies owned by Series A of the Company and Series A of PPC AV 1 for not more
than eight years as of that date, which totals ~$2.039 billion in the aggregate.

The budget process involves the participation of the Fund’s board of investors (described in Item

Item 7 – Types of Clients
       1.      Types of Clients and Investment Vehicles

As noted in Item 4 — Advisory Business, the Adviser provides discretionary investment advisory
services exclusively to the Fund and intends to provide services to certain alternative and co-
investment vehicles. The Fund is, and any such alternate or co-investment vehicle will be, a
pooled investment vehicle operating as a private investment fund exempt from registration under
the Investment Company Act. Each investor in the Fund must meet the eligibility provisions
outlined in Item 4 above.

       2.      Feeder Funds and Alternative Investment Vehicles

One or more feeder funds may be formed for the purpose of facilitating an investment in the
Fund by the investors in such feeder fund. Such feeder funds would themselves be Special
Members of the Fund whose interests are held by the investors who elect to participate in the Fund
through such feeder fund.

The Company currently has one alternative vehicle, PPC AV 1, which was established with the
consent of the Board and otherwise pursuant to the LLC Agreement on November 4, 2016 in order
to address certain tax requirements of one of the Special Members.

Additional alternative investment vehicles may be developed by PPC in the future in order to
facilitate certain investments by the Fund or other investors.