Quiet Capital Management LLC

Item 5. Fees and Compensation
Quiet or its affiliates generally receive Advisory Fees and Performance Allocation (each as defined
below) or similar performance-based remuneration from a Private Fund. With respect to certain
Private Funds, such Private Funds and their portfolio investments also typically reimburse Quiet
and its affiliates for certain expenses and/or make other payments to Quiet or its affiliates for
services provided to such Private Funds and their portfolio investments which, in certain
circumstances, may reduce the Advisory Fees payable to Quiet. Additionally, consistent with the
Offering Documents of a Private Fund, the Private Fund typically bears certain out-of-pocket
expenses incurred by Quiet in connection with the services provided to the Private Fund and/or
the portfolio investments. Details about such fees and expenses are contained in the Offering

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Documents of a Private Fund. Further details about certain common fees and expenses are set
forth below.

Management Fees

As compensation for investment advisory services rendered to the Private Funds, the investors
in the Private Funds generally pay Quiet annual management fees (the “Advisory Fees”). Such
Advisory Fees are typically calculated on capital commitments, but are also calculated on
invested capital, and is typically payable in advance on a quarterly basis or as otherwise agreed
to in the Offering Documents.

The precise amount of, and the manner and calculation of, the Advisory Fees for each Private
Fund are established by Quiet in negotiation with investors in the applicable Private Fund and
are set forth in such Private Fund’s Offering Documents and/or other documentation received by
each investor prior to investment in such Private Fund.

The Advisory Fees paid by a Private Fund will generally be reduced by a percentage of: (1) the
amount of fees paid by such Private Fund to persons acting as a placement agent in connection
with the offer and sale of interests in such Private Fund to certain potential investors, (2) the fees
incurred by Quiet in connection with the organization of such Private Fund that exceed a limit
specified in such Private Fund’s Offering Documents and/or (3) certain Other Fees (as defined
and described in more detail below under “Other Fees”) received by Quiet or its affiliates. The
amount and manner of such reduction, if any, is set forth in the Offering Documents of the
applicable Private Fund.

The Advisory Fees described herein are generally subject to waiver, modification, or reduction by
Quiet in its sole discretion, both voluntarily and on a negotiated basis with selected investors via
side letter or other arrangements, which generally are not disclosed to other investors in the
same Private Fund. The fee structures described herein may be modified, and Advisory Fees may
be reduced during the life of a Private Fund. Advisory Fees differ among certain Private Funds to
another, as well as among investors in the same Private Fund. Such differences can arise from
the size of investor commitments to a Private Fund, different investor classes, provisions of side
letter agreements, or other negotiated terms. Unless otherwise agreed with a Private Fund’s
investors, Advisory Fees will continue to be payable during any term extensions.

Certain investors in the Private Funds that are personnel, former employees, business associates
and other “friends and family” of Quiet, its affiliates or their personnel (including any related
entity established by any of the foregoing, such as trusts, charitable programs, endowments or
related programs, family investment vehicles and other estate planning vehicles) (collectively,
“Adviser Investors”) will not typically pay Advisory Fees or Performance Allocation in connection
with their investment in a Private Fund. Furthermore, Quiet is permitted to establish certain
investment vehicles through which Adviser Investors or other third parties invest alongside one
or more Private Funds in one or more investment opportunities, which generally do not pay
Advisory Fees or Performance Allocation. Notwithstanding that Adviser Investors will generally

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not pay Advisory Fees, Adviser Investors will generally pay for their pro rata share of certain
Private Fund expenses.

Quiet has and will enter into economic and/or other fee- and carried interest-sharing
arrangements with respect to one or more Private Funds and/or certain limited partners thereof,
the rights of which will not generally be offered to other limited partners.

In addition, Quiet is authorized to waive or reduce all or a portion of the Advisory Fee paid by a
Private Fund in full or partial satisfaction of any obligation of Quiet and certain personnel and
affiliates of Quiet to invest in such Private Fund, which could result in acceleration of investor
capital contributions. Waived or reduced Advisory Fees are not generally subject to various
offsets or the reductions described above. Due to waived or reduced Advisory Fees and/or the
timing of receipt of compensation subject to offsets, Private Fund investors will not necessarily
receive the full benefit of reductions or offsets (e.g., during periods when Quiet no longer
receives Advisory Fees and receives compensation that would otherwise be subject to offset,
Quiet, depending on certain elections that may be made by Private Fund investors, may be
entitled to retain such compensation without remitting any such amounts to the applicable
Private Fund or its investments).

Advisory Fees are payable per a Private Fund’s Offering Documents and Advisory Agreement.
Upon termination of an Advisory Agreement, Advisory Fees that have been prepaid are generally
returned on a prorated basis.
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Item 7. Types of Clients
Quiet currently provides investment advisory services to the Private Funds. Investment advice is
provided directly to the Private Funds (subject to the direction and control of the general partner
of each such Private Fund) and not individually to investors in such Private Fund.

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Interests in the Private Funds are offered pursuant to applicable exemptions from registration
under the Securities Act and the Investment Company Act of 1940, as amended (the “1940 Act”).
Investors in the Private Funds are generally “qualified purchasers” as defined in the 1940 Act,
and may include, among others, high net worth individuals, pension and profit-sharing plans,
trusts, estates, charitable organizations, university endowments, corporations, limited
partnerships, and limited liability companies or other entities.

Quiet does not have a minimum size for a Private Fund but minimum investment commitments
are typically established for investors in the Private Funds. The general partner of each Private
Fund may in its sole discretion permit investments below the minimum amounts set forth in the
Offering Documents.