Rizvi Traverse Management LLC

ITEM 5 – FEES AND COMPENSATION

The fees paid by each Client vary, but generally include management fees and reimbursement of
allowable expenses incurred by the Company. In addition, Rizvi Traverse generally has a carried
interest in the net profits of a Fund or an SPV, which the Company is entitled to receive after
repayment of funded Investor commitments and a preferred return, if any. The fees charged by
Rizvi Traverse are set forth in each Client’s Client Documents.

Management Fees

Management fees are generally calculated based on committed capital or invested capital, as
applicable, and are charged on a periodic basis, as detailed below, in accordance with the Client
Documents of each Client.

For Clients that pay a management fee, such fee is generally charged quarterly in advance and is
payable on a pro rata basis for any period that is less than a quarter. In the event of a Client
termination, Rizvi Traverse will refund any management fees for which services have not been
rendered if so provided in a Client Document. Management fees are generally not negotiable,
although Rizvi Traverse may waive or reduce the portion of a Client’s management fee charged to
the account in that Client of certain Investors at its discretion, including for Investors who are
members, employees, or affiliates of the Company. In addition, management fees of Funds are (if
so provided in a Client Document) reduced by a percentage of fees earned by Rizvi Traverse from
underlying portfolio companies, as described in more detail in the Other Compensation section
below. The Fund-of-Funds does not pay a management fee.

Carried Interest

Rizvi Traverse or an affiliate is entitled to receive carried interest from certain Clients after return
of funded Investor commitments and satisfaction of a “preferred return,” if any. Such carried
interest is subject to the terms described in the Client Documents. The Fund-of-Funds does not
pay a carried interest.

Other Compensation

Rizvi Traverse does not currently, but may in the future, receive fees in connection with services
provided to portfolio companies. For example, Rizvi Traverse may receive fees in exchange for
providing portfolio companies with management, consulting, and supervisory services in
connection with operations. In addition, officers and employees of Rizvi Traverse receive
directors’ fees for serving on the boards of portfolio companies. A portion of these consulting,
directors’ and supervisory fees can be used to offset management fees charged to the applicable
Funds (if so provided in the applicable Client Document). To the extent that such an offset credit
would reduce the management fee for a given payment period below zero, the unapplied portion
of the credit will be carried forward for future application against payable management fees, and
upon liquidation any remaining unapplied credit will be paid by Rizvi Traverse to the partners of
the Fund pro rata based on the management fees paid by each partner.

Form ADV – Part 2A Brochure Document | Rizvi Traverse Management LLC

See Item 10 – Other Financial Industry Activities and Affiliations below for disclosures related to
compensation that Rizvi Traverse, the Relying Advisers and/or their personnel may receive from
Clients’ portfolio companies.

Additional Expenses

Clients typically bear certain out-of-pocket expenses incurred by Rizvi Traverse or its affiliates in
connection with services provided to Clients. The payment of such expenses by Clients does not
represent a source of profit for Rizvi Traverse or its affiliates; rather it is a reimbursement of
expenses paid on behalf of Clients or incurred in connection with services provided to Clients.
Such expenses include, but are not limited to: fees and expenses incurred in connection with the
formation and organization, and maintaining corporate good standing of the Client; fees and
expenses related to the due diligence, acquisition, holding and disposition of its investments
(including legal, regulatory and accounting fees and related expenses incident thereto and
including expenses related to investment and disposition opportunities not consummated); legal
fees and expenses (or if Rizvi Traverse or one of its affiliates performs such function internally,
an amount reimbursable to Rizvi Traverse or such affiliate equal to an amount described in the
Client Documents); third party accounting and fund administration fees and expenses (or if Rizvi
Traverse or one of its affiliates performs such function internally, an amount reimbursable to Rizvi
Traverse or such affiliate equal to an amount described in the Client Documents); tax preparation
and compliance fees; taxes, fees and other governmental charges levied against the Client; interest
and fees associated with short-term borrowings by the Client; registration expenses; expenses
incurred by Rizvi Traverse or its affiliates or personnel in its role as the Partnership Representative
or similar role related to the tax compliance matters of the Client; financial statement preparation
and audit fees; insurance premiums; litigation and indemnification costs and expenses, judgments
and settlements; pre-closing marketing and fundraising expenses; software license fees and related
expenses for an online investor reporting portal; custodian fees and expenses; expenses of the
limited partner advisory board; travel (including first-class and chartered airfare expenses in
certain circumstances) and other related expenses incurred while attending meetings of entities in
which the Client holds investments or meetings with Investors in accordance with the travel policy
of Rizvi Traverse; and any costs, expenses, liabilities and obligations associated with winding up
and liquidating the Client. Expenses paid or reimbursed by Clients may include allocations of
expenses between Rizvi Traverse, Clients and other funds and SPVs as reasonably determined by
...

ITEM 7 – TYPES OF CLIENTS

As indicated in Item 4 – Advisory Business above, Rizvi Traverse provides investment advisory
services to the Clients and may do so for future Clients. Each of the Clients is a privately placed
pooled or special purpose investment vehicle that relies on one or more exemptions under the
United States Investment Company Act of 1940, as amended, that exempt a privately offered entity
from registering as an “investment company.” The interests in the Clients are exempt from
registration under the United States Securities Act of 1933, as amended. Investors in the Clients
are required to satisfy certain suitability and eligibility requirements as described in the Client
Documents.

Investors in the Clients include large institutions and family investment offices. SPVs are typically
limited liability companies designed to make specific underlying investments. Rizvi Traverse
anticipates that future Clients will generally include privately placed pooled investment vehicles
and SPVs. Rizvi Traverse does not provide investment advisory services directly to Investors in
the Funds, Fund-of-Funds or SPVs.

The minimum investment in a Fund managed by the Company is generally $10 million. This
minimum may be waived or modified in the sole discretion of Rizvi Traverse.

Form ADV – Part 2A Brochure Document | Rizvi Traverse Management LLC