Runway Growth Capital LLC

Item 5: Fees and Compensation
The compensation paid to Runway by the Runway BDC is set forth in the investment
management agreement filed with the SEC as an exhibit to the registration statements
(“Registration Statements”) and the annual reports on Form 10-K filed by the Runway BDC.
As publicly disclosed, such fees are based on assets as well as income and/or capital gains,
provided certain investment performance “hurdles” (i.e., minimum investment return thresholds)
are met.

Investors in SMAs and Private Funds managed by Runway should review the Governing
Documents for complete information on fees and compensation. Information regarding the fees
and compensation payable by investors in any Private Fund Client of Runway in which all
investors are “qualified purchasers” (as defined by Section 2(a)(51) of the 1940 Act) is not
required to be provided herein.

We may negotiate separate fees for certain Clients, other than BDCs, rather than adhering to a
rigid fee schedule. Negotiated fees may be based on a percentage of the assets which the Client
has under management, fixed fees, administrative fees and such other fees which may be
negotiated with the Client. Such fees may be affected by the amount of assets under management,
the Client’s investment objective and the manner in which funds are invested. Our advisory fees
are exclusive of brokerage commissions, transaction fees, and other related costs and expenses
which may be incurred by the Client. Clients may incur certain charges imposed by custodians,
brokers, third party investment advisers and other third parties such as fees charged by managers,
custodial fees, deferred sales charges, odd-lot differentials, transfer taxes, wire transfer and
electronic fund fees, and other fees and taxes on brokerage accounts and securities transactions.
See Item 12 below for more information regarding brokerage fees. Expenses borne by Clients
include: (i) all fees, costs, expenses, liabilities and obligations attributable to structuring,
organizing, acquiring, managing, operating, holding, valuing, winding up, liquidating, dissolving
and disposing of investments (including interest on money borrowed, expenses incurred in
connection with the incurrence or repayment of credit facilities, expenses of portfolio tracking
facilities, debt service fees, origination fees, registration fees and expenses and related expenses
and brokerage, finders’, custodial and other fees and expenses), (ii) legal, accounting, auditing
(excluding any fees, taxes or penalties resulting from a final formal deficiency issued by the
Internal Revenue Service following an audit), administration, loan agency, valuation, custodian,
depositary (including costs and expenses related to appointments or changes of any depositary
or other service provider appointed pursuant to any applicable law, rule or regulation), insurance
(including directors and officers, errors and omissions and representation and warranty liability
insurance, and all premiums and charges in connection with the maintenance thereof), travel,
litigation and indemnification costs and expenses, judgments and settlements, consulting
(including consulting and retainer fees paid to consultants performing investment initiatives and
other similar consultants), costs and expenses of computer software specific to the affairs of the
relevant Client and research related and market data expenses including, without limitation, trade
order management systems and news and quotation equipment, software and services; broker,
finders’, financing, appraisal, filing and other fees and expenses (including fees, costs and

expenses associated with the preparation or distribution of the Client’s financial statements), tax
returns and Schedule K-1s or any other administrative, regulatory or other reporting or filing
(including any filings, notifications, reports or other regulatory requirements contemplated by or
arising under any applicable law, rule or regulation (including any implementing law, rule or
regulation relating thereto)), (iii) fees, costs and expenses of any Investor committees, (iv) all
fees, costs, expenses, liabilities and obligations relating to investment and disposition
opportunities not consummated (including legal, accounting, auditing, insurance, travel,
consulting, finders’, financing, appraisal (including, without limitation, the costs of any third-
party valuation agents or pricing services), filing, printing, real estate title, survey, litigation,
indemnification, judgments and settlements, if any, and other fees and expenses), (v) all
out-of-pocket fees, costs and expenses in connection with the annual and other periodic (if any)
meetings of the Investors and any other conference or meeting with any Investor(s), (vi) any
taxes, fees and other governmental charges, (vii) placement fees, (viii) fees, costs and expenses
that are classified as extraordinary expenses under GAAP (such as litigation, indemnification,
judgments and settlements, if any), (ix) all fees, costs and expenses incurred in connection with
the organization, management, operation and dissolution, liquidation and final winding-up of
any alternative investment vehicles, (x) any regulatory-related fees, costs or expenses, (xi) all
costs and expenses associated with operating any feeder vehicles, (xii) any start-up, formation or
organizational expenses, (xiii) unreimbursed costs and expenses incurred in connection with any
transfer of an Investor’s interest in a Client, (xiv) expenses associated with portfolio and risk
management, (xvi) expenses associated with organizing and managing any subsidiary of a Client,
(xvii) all expenses and costs attributable to amendments to, and waivers, consents or approvals
pursuant to, the Governing Documents of the Client and related entities, and (xviii) an
“administrative fee” calculated based on the amount capital such Client has invested and related
...

Item 7: Types of Clients
Runway generally provides investment management services to pooled investment vehicles,
including public investment funds, private funds, joint ventures, separately managed accounts,
and other institutional clients. Interests in Clients that are pooled investment vehicles are offered
to Investors pursuant to applicable exemptions from registration under the Securities Act of 1933,
as amended (the “Securities Act”), and the 1940 Act. Investors in such Clients are generally
“accredited investors” as defined in the Securities Act and “qualified purchasers” as defined in
the 1940 Act, and include, among others, institutions, governmental and corporate pension and
profit-sharing plans, sovereign wealth funds, funds of funds, university endowments, charitable
organizations, banks, trusts, other entities or high net worth individuals. Runway currently serves
as the investment adviser on a discretionary basis to the Runway BDC, a closed-end, externally
managed, non-diversified management investment company that has elected to be regulated as a
BDC under the 1940 Act, and to the Fund, a privately offered pooled investment vehicle which
is generally excluded from regulation as an “investment company” under the 1940 Act, all of the
investors in which are “qualified purchasers.”