Providence Equity Partners LLC

Item 5.    Fees and Compensation

Management Fees

In respect of certain PE Funds and the Providence Public Fund, the Adviser is paid a quarterly
management fee, payable in advance, by such applicable Fund. Certain of the Flagship Funds no
longer pay management fees due to where each such Flagship Fund is in its life cycle. Management
fees are paid by each of the PE Funds with either cash on hand (including cash drawn from credit
facilities), disposition proceeds or from drawdowns of the investors’ unfunded capital
commitments. Management fees paid by each PE Fund and the Providence Public Fund are
indirectly borne by investors in such Funds, including any Funds that invest in a PE Fund, the
Providence Public Fund (such as Feeder Funds) or Alternative Investment Vehicles. With respect
to the PE Funds, the management fee is typically calculated based on capital commitments or
remaining invested capital, as to which a disposition has not occurred. With respect to certain PE
Funds, the management fee is typically calculated based on value, cost basis or remaining invested
capital. Management fees, in some cases, are reduced or waived during the life of a Flagship Fund.
Portfolio companies are expected to enter into dividend recapitalization transactions, which would
result in the payment of cash dividends to certain Funds. Pursuant to the applicable Fund’s
organizational documents, such amounts, when returned to investors, do not reduce the base upon
which management fees are charged. With respect to the Providence Public Fund, the management
fee is calculated as a percentage of the net asset value of the Fund (or based on the lower of cost
or fair market value for certain illiquid investments).

The general partner of each Fund generally is permitted to terminate the advisory agreement upon
60 days’ notice, or a shorter or longer notice period as set forth in each relevant Fund’s
organizational documents. Upon termination of a relevant advisory agreement, management fees
that have been prepaid are returned on a prorated basis.

The precise amount of, and the manner and calculation of, the management fees for each Fund is
disclosed in the organizational and offering documents of such Fund. The management fees are
negotiated collectively with the investors of each Fund and are subject to waiver or reduction by
the Adviser. For example, the Adviser and certain of its principals, employees, former employees
or their family members and related vehicles typically invest (directly or indirectly) in the Funds,
and management fees assessed on such investments are typically substantially reduced or waived
entirely and in certain cases the Carried Interest (as defined below) is waived, up to certain
thresholds. In addition, a portion of such principals’ and employees’ capital subscription may be
made through reductions in or waiver of the management fee payable to the Adviser by such Fund
in lieu of capital contributions by such principals and employees. Investors that meet certain

minimum investment amounts or early investment deadlines also, in some cases, benefit from
lower management fees as disclosed in the organizational documents for the Funds. Certain Co-
Investment Vehicles may pay management fees, Carried Interest, and/or administration fees.

Except as otherwise set forth in the organizational documents of a Fund, the management fees paid
by a Fund will generally be reduced by a percentage of: (1) the amount of fees, if any, paid by such
Fund to persons acting as placement agents in connection with the offer and sale of interests in
such Fund to certain potential investors, (2) the fees incurred by the Adviser in connection with
the organization of such Fund that exceed a limit specified in such Fund’s organizational
documents and/or (3) certain Other Fees (as defined below) received by the Adviser or its affiliates.
The amount and manner of such reduction, if any, is set forth in the advisory agreement and/or
organizational documents of the applicable Fund. To the extent such Other Fees are shared, such
Other Fees and any resulting management fee reductions will generally be allocated among the
applicable Fund(s) (including Co-Investment Vehicle(s)) on the basis of the relative ownership of
each entity in the relevant investment or another method. Generally, once a Fund has been
allocated its portion of such Other Fees, such portion is further allocated among all of the investors
in such Fund pro-rata in accordance with their capital commitments to such Fund or such other
manner in accordance with the Fund’s partnership agreement. Generally, the portion of Other Fees
allocable to a Fund or third-party investor that does not pay management fees, or to portfolio
company management, will be retained by the Adviser and such amounts will not offset any
management fees or Carried Interest.

Other Fees and Expenses

Generally, and except as otherwise set forth in the organizational documents of a Fund, the Adviser
will ultimately bear all fees of any placement agent that solicits investors for the Funds either
directly or via an offset to the management fee. The Funds will bear all legal and other expenses,
including the out-of-pocket expenses of the applicable general partner, incurred in the formation
of the Funds and their general partners up to an amount specified in the organizational documents
of the applicable Fund. Organizational expenses in excess of this amount, if any, ultimately will
be borne by the Adviser either directly or via an offset to the management fee. With respect to
sell-side advisor and placement agent fees from Continuation Fund transactions, the Selling Fund
will typically bear these expenses.

Generally, and except as set forth in the organizational documents of the applicable Fund, a Fund
will pay all expenses, costs and liabilities incurred in connection with its operations and
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Item 7.     Types of Clients

The Adviser provides investment advisory services to the Funds (other than with respect to certain
Co-Investment Vehicles as set forth in their organizational documents). Investment advice is
provided directly to the Funds and not individually to the investors in the Funds. Investors in the
Funds are generally “qualified purchasers” as defined in the 1940 Act, and may include, among
others, high net worth individuals, banks, thrift institutions, pension and profit-sharing plans,
trusts, estates, charitable organizations, university endowments, corporations, sovereign wealth
funds, limited partnerships and limited liability companies.

The Funds generally do not have a minimum size, but minimum investment commitments are
generally established for investors in the Funds. The general partner of each Fund has sole
discretion to permit investments below the minimum amounts set forth in the offering documents
of such Fund.