RAGA Partners LP

Item 5. Fees and Compensation
Managed Account Management Fees
The Firm charges a fixed annual fee for investment advisory and family office services (“Managed
Account Management Fee”), which is generally payable in equal monthly installments on the first
business day of each month, and subject to adjustment as mutually agreed between the Firm and each
Client. Managed Account Management Fees are generally negotiated depending on several factors
unique to each Managed Account Client, including the Client’s needs, nature and complexity of the
services required, and types of assets. Managed Account Management Fees and expenses applicable to
each Managed Account Client are set forth in detail in detail in Client’s services agreement. To the extent
a Client terminates the advisory relationship, the Client will be charged the pro-rata amount of fees
rendered to the point of termination.
Clients invested in third-party managed pooled investment vehicles ("Third-Party Funds") can expect to
be charged management fees and performance fees, as well as certain administrative expenses, by the
Third-Party Fund manager. All such fees are in addition to the Managed Account Management Fee
disclosed above. Third-Party Fund management fees charged by Third-Party Fund managers generally
range from 0.50% to 3.00% annually. Depending on the terms of each Third-Party Fund, performance
fees typically range from 5.00% to 35.00% of the annual net profits, subject to certain limitations. All
Third-Party Fund fees and administrative expenses are disclosed in the offering documents that Clients
receive from each Third-Party Fund. In addition, each Third-Party Fund requires Clients to meet specific
qualifications in order to invest.
Fund Management Fees
The Firm receives an investment management fee from the Fund (“Advisory Fee”) that is payable
quarterly in advance, and as further described in the applicable Fund’s Governing Documents. The
Advisory Fee ranges from 1.50% to 2.00% based on committed capital amounts and the duration of such
commitments. The Advisory Fee may be reduced or waived at the discretion of the General Partner.
From time to time, Firm personnel or other individuals associated with the Firm may serve on the board
of directors or in a similar capacity for portfolio companies in which the Fund invests. These personnel
generally will not receive compensation in the form of board of directors’ fees or other similar
compensation from such portfolio companies. In cases where compensation is received, it generally will
be subject to an Advisory Fee offset pursuant to the Fund’s Governing Documents for the benefit of the
Fund and its Limited Partners. However, certain individuals associated with the Firm may serve in these
roles in their individual capacity and may retain any compensation received without it being subject to
an Advisory Fee offset. The receipt and retention of such compensation creates a potential conflict of
interest, which the Firm seeks to address through its policies and procedures and fiduciary obligations
to its Clients.
Managed Account Expenses
Managed Account Clients may incur operational and transaction fees, costs and expenses imposed by
custodians, brokers, prime brokers and other third parties. Clients invested in third-party managed
pooled investment vehicles, which include mutual funds, ETFs, private investment funds, such as private
equity or venture capital funds, and other similar pooled investments or third-party Managed Accounts

Raga Partners LP                                                                               March 2026

will also incur fees and expenses associated with an investment in the vehicle or account which may
include organizational fees, management fees, performance allocations and other costs and expenses to
third party managers. Additionally, Clients may also incur wire transfer fees and trustee fees by their
custodians. Any expense reimbursements will be allocated in a fair and equitable fashion based on
anticipated participation or other appropriate methodology.
Fund Expenses
As further set forth in the Governing Documents, the Fund is responsible for its own organizational,
operational, and investment expenses. Except as otherwise expressly provided in the Governing
Documents, the Fund will bear all costs and expenses incurred in connection with the formation,
offering, operation, management, financing, and liquidation of the Fund, whether incurred directly by
the Fund or by the General Partner or its affiliates on the Fund’s behalf. The General Partner may, in its
sole discretion, elect to bear any such expense.
Organizational expenses include all costs and expenses associated with the formation of the Fund,
including expenses relating to the formation and launch of the Firm and the General Partner, including
legal, accounting, printing, travel and out of pocket expenses.
Investment expenses include all out-of-pocket due diligence and expenses paid by the General Partner
relating to the Fund investments, including, without limitation:
 • Expenses incurred in connection with the offering of Interests, including placement agent or similar
    fees (which, to the extent provided in the Governing Documents, may reduce advisory fees payable
    by the applicable Limited Partner on a dollar-for-dollar basis);
 • Expenses incurred in connection with the evaluation, acquisition, holding, monitoring, restructuring,
    financing, or disposition of investments, including expenses of proposed investments that are not
    consummated;
 • Legal, accounting (including fund administration and annual audits), consulting, investment banking,
    appraisal, brokerage, underwriting, private placement, information services, and other professional
    fees and expenses;
 • Reasonable travel and due diligence expenses;
 • Carried interest, incentive allocations, or similar compensation payable to managers of underlying
    investments;
...

Item 7. Types of Clients
The Firm provides investment advisory services to ultra-high net worth and high net worth individuals,
families and charitable foundations, as well as the Fund.
The Firm does not have a stated minimum to open a Managed Account, however, such Clients typically
have at least $50 million of investable assets under management.
The Firm also offers investment advisory services to the Fund. Details concerning the Fund’s investment
criteria are set forth in its Governing Documents. The Firm offers limited partnership interests in the
Fund (“Interests”) to investors who are “accredited investors” under the U.S. Securities Act of 1933, as
amended, and “qualified clients” under the U.S. Investment Advisers Act of 1940, as amended. An
investor whose subscription for an Interest is accepted by the General Partner will become a limited
partner in the Fund (each, a “Limited Partner,” and collectively, the “Limited Partners”) and will make a
one-year capital commitment (a “One-Year Commitment”), a two-year capital commitment (a “Two-Year
Commitment”), a three-year capital commitment (a “Three-Year Commitment”), a five-year capital
commitment (a “Five-Year Commitment”) or an evergreen capital commitment (an “Evergreen
Commitment” and, collectively with the One-Year Commitments, the Two-Year Commitments, the
Three-Year Commitments and the Five-Year Commitments, the “Commitments”) to the Fund.
The minimum initial commitment amount to participate in a One-Year Commitment is $500,000, the
minimum initial commitment to participate in a Two-Year Commitment is $1 million, the minimum initial
commitment to participate in a Three-Year Commitment is $1.5 million, the minimum initial
commitment amount to participate in a Five-Year Commitment is $10 million, and the minimum initial
commitment amount to participate in an Evergreen Commitment is $25 million; provided, in each case,
that the Firm may permit a Limited Partner to participate with a lesser initial commitment amount.
The Firm also provides non-investment advisory consulting services, including corporate development,
strategy, and other consulting services, pursuant to a consulting agreement with an SEC-registered
investment adviser.

Raga Partners LP                                                                                   March 2026