Regatta Loan Management LLC

Item 5 Fees and Compensation
RLM offers discretionary collateral management and advisory services for a percentage of assets
under management or fees based on performance as described below and in Item 6. Fees may
differ based upon a number of factors, including without limitation, overall fee arrangements,
account complexity and size, assets under management and the terms of the various Investment
Vehicles. Fees for certain Investment Vehicles may be waived, reduced or calculated differently

with respect to certain investors, including RLM employees or affiliates, at the discretion of RLM
as permitted by the Investment Vehicle’s offering documentation and organizational documents.

In addition, as discussed below, from time to time, clients of Napier Park are investors in First
Eagle Alternative Credit, LLC (“FEAC") clients and will pay customary fees or expenses as
investors therein.

RLM may in the future charge other types of fees and use different fee structures, including
variations of performance or incentive fee and allocations. RLM may share a portion of such fees
with certain placement, sales or referral agents.

Fees Charged: Investment Vehicle Products

Each Investment Vehicle may pay RLM a management fee, and in certain cases an incentive fee
or incentive allocation (if earned). Fees earned with respect to each Investment Vehicle may
compensate RLM or its affiliates for the provision of certain ancillary services, the responsibility
for all or a portion of which may be subcontracted to other parties. The amount of fees to be paid
by an Investment Vehicle will be set forth in the offering materials for that Investment Vehicle.

Method of Payment of Fees

The Investment Vehicles will pay any management and incentive fees at such times and in such
manner specified in their respective account documentation. Such fees will be deducted from the
Investment Vehicle and reflected in an investor’s net asset value per share or capital account, as
applicable.

Additional Compensation Received by Affiliates

Affiliates of RLM also may have relationships with, and provide certain services to RLM such as
providing staffing to RLM who will provide marketing services, risk analysis services, a legal
team, a compliance team, a finance team, technology, personnel, credit analysis, loan management,
valuation, reporting, certain middle and back office support and other services for which the
affiliate receives compensation.

Distribution Fees

RLM is affiliated with FEF Distributors, LLC (“FEF Distributors”), a limited purpose broker-
dealer and wholly owned subsidiary of FEIM. FEF Distributors a placement agent of one or more
private funds advised by Napier Park (excluding RLM). FEF Distributors performs similar
services for Napier Park affiliates including FEIM and FEAC. FEF Distributors may receive
compensation for the sale of securities, including asset-based sales charges, service fees and
contingent deferred sales charges from the sale of the registered funds it distributes and may
receive commissions or other compensation attributable to sales of private funds. These fees and
charges are not applied to offset advisory fees. Certain of Napier Park’s employees (including
those who are dedicated to offering Napier Park Investment Vehicles) who are also FEF

Distributors representatives receive compensation that considers the sale of investment as one of
many factors used to determine discretionary compensation. All such compensation is paid by
Napier Park, as applicable, from Napier Park’s revenue. In addition, FEIM has adopted incentive
plans and has entered into agreements that provide for cash payments compensation to employees
who develop and refer new business. These arrangements may present a conflict of interest and
give Napier Park and its employees/FEF Distributors representatives an incentive to recommend
investment products based on the compensation received, rather than on a Client’s needs. To help
prevent Napier Park and its employees from acting in such a way, Napier Park has adopted a Code
of Ethics requiring all employees to act solely in the best interests of clients. Certain of RLM’s
investment products can be purchased through other agents or brokers that are not affiliated with
RLM, Napier Park and/or FEF Distributors. Certain investors in GC Ferry Parent, L.P. and/or
non-employee directors of GC Ferry Parent GP, LLC have financial interests in entities that receive
compensation for the sale of investments (including investments in the Funds, private funds and
potentially to SMAs). Any such compensation would generally be paid by FEIM from revenue
attributable to its management of such investments.

Additional Fees and Expenses

As described in more detail in their respective offering or account documentation, each Investment
Vehicle bears its organizational and initial offering expenses and its operating and other expenses,
which may include, but not be limited to, structural expenses, direct investment-related expenses
(e.g. custodial fees, interest expense, consulting and other professional fees relating to particular
investments), reporting and legal expenses, accounting, audit and tax preparation expenses,
ongoing expenses relating to the offering and sale of the Investment Vehicle’s interests,
remuneration to directors or managing members, as applicable, insurance, trustee fees, custodian
fees, administrator fees, liability insurance premiums, compliance expenses incurred by RLM
and/or Napier Park in connection with its services to Investment Vehicles (which includes but is
not limited to Form PF, CPO-PQR and AIFMD Annex IV reporting, as applicable), fees and
expenses incurred by RLM and/or Napier Park in connection with its services to an Investment
Vehicle, fees and expenses relating to software tools, programs or other technology utilized in
managing Investment Vehicles (including, without limitation, third party software licensing,
...

Item 7 Types of Clients
RLM provides investment advice to Investment Vehicles. However, the ultimate investors in the
Investment Vehicles advised by RLM may include institutional investors, registered funds, funds
of funds, pension plans and/or state and municipal government entities.

Ultimate investors in each Investment Vehicle are required to make a minimum capital
commitment generally ranging between $100,000 and $10,000,000 or more, depending on the
product. The minimum for a specific Investment Vehicle will be set forth in the offering materials
for that Investment Vehicle.