PSC Manager LLC

Item 5 – Fees and Compensation
Fees Charged

While each investment and investment vehicle may be different, Peaceable typically receives compensation from fees
based on a percentage of assets under management, carried interest allocations (otherwise known as a “promote”), and
certain other fees or expenses, all in accordance with the terms of each investment vehicle’s governing documents.
Additionally, each investment vehicle also bears certain expenses, which typically will include, but not limited to, fees
associated with buying or selling portfolio investments, organizational expenses, legal, tax, and accounting fees,
commissions and brokerage fees, regulatory fees, and other similar fees and expenses. When investing in an investment
vehicle, prospective investors should review all fees and expenses charged by Peaceable and any of its affiliates, as
disclosed in such investment vehicle’s governing documents, and all other expenses to fully understand what is paid by
each investment vehicle and indirectly, by the prospective investors. Fees are and can be negotiated with investors.

Peaceable may call capital for management fees and other expenses and/or pay these fees and expenses out of current
income and disposition proceeds.

Asset Management Fees

For some investment vehicles, Peaceable receives an annual management fee (the “Management Fee”) from the
investment vehicles it manages. Management Fees are paid quarterly, in arrears. Management Fees will be pro-rated
for any period that is less than a full billing period. In the discretion of Peaceable, some investors (including related
parties) have all or a portion of their Management Fee waived or reduced. For a specific explanation of the fees,
including the Management Fee, for any particular investment vehicle, investors should carefully review the governing
documents of that investment vehicle.

Promote

For certain investment vehicles it manages, Peaceable receives performance-based compensation from such investment
vehicles in the form of carried interest (otherwise known as a “promote”) in accordance with the terms of each such
investment vehicle’s governing documents. Carried interest is a share of the net profits realized on distribution of
proceeds and/or the disposition of investments that is generally paid to Peaceable as an incentive to maximize
performance. The investment vehicles are generally subject to a carried-interest percentage that ranges from 10% to
20%. However, in limited circumstances, a carried interest percentage may be higher or lower than this range. Carried
interests are generally paid after returns meet a predetermined preferred return and/or cash-on-cash multiple. Investors
should carefully review the governing documents of their particular investment vehicle for specifics on the carried
interest for such investment vehicle. At the discretion of Peaceable, some investors (including related parties) have all
or a portion of their carried interest waived or reduced.

Investment vehicles that are subject to a carried interest compensate Peaceable for positive performance in those
investment vehicles. Carried interest compensation arrangements provide a heightened incentive for Peaceable to make
investments that present a greater potential for return but also a greater risk of loss or that are more speculative than
would exist if only asset-based fees were applied. This incentive is mitigated, however, because any losses the
investment vehicle sustains will reduce the carried interest distribution and carried interest is generally calculated only
after investors have received a significant portion of their capital contributions as distribution plus a preferred return
and/or cash-on-cash multiple on capital contributed for realized investments and expenses.

In addition, the simultaneous management of investment vehicles that are subject to carried interest and investment
vehicles that are not subject to carried interest, or that are subject to carried interest at a different rate, creates a conflict
of interest, as Peaceable has an incentive to favor investment vehicles with the potential to bear greater compensation
to Peaceable when allocating resources, services, or investment opportunities among investment vehicles. This
incentive is mitigated, however, because the various investment vehicles will either be special purpose vehicles
established for specific investments, or investment vehicles which are not created to be managed simultaneously on an
ongoing basis but rather with one vehicle’s investment period starting as another is ending.

 Side-by-Side Management

 Peaceable simultaneously manages multiple investment vehicles. To mitigate conflicts, Peaceable has developed
 investment allocation policies regarding the distribution of investment opportunities among investment vehicles,
 consistent with side arrangements with certain investors as described in Item 12 below.

 Closing Fees

 Peaceable may receive a fee at the closing of each investment entered into by an investment vehicle for its work
 performing diligence of such investment. This fee is typically 1.00% of the commitment amount but could be higher
 or lower.

 Other Fees and Expenses

 Each investment vehicle bears its own fees and expenses. Peaceable is responsible for its own operating expenses,
 including, but not limited to, office rent, salaries, furniture, fixtures, and all other office equipment. Documents related
 to individual investments will detail further what other expenses may be incurred.

 Pro Rata Fees

 In the event an investor comes into an investment vehicle (either through a transfer from an existing investor or as
 permitted by Peaceable), Management Fees will be calculated on a pro rata basis. Likewise, if an investor transfers
 their interests, Management Fees will be pro-rated.

 Compensation for the Sale of Securities

 None of the employees of Peaceable is a registered representative of a broker-dealer.