Savanna Investment Management LLC

Item 5 – Fees and Compensation

A.   The fees and compensation payable to Savanna are negotiable, vary among the Funds, and
     may be waived or reduced for certain investors in the Funds. Investors and prospective
     investors should refer to the Funds’ Operative Documents for a detailed description of the
     fees associated with investments in the Funds. However, the range and manner of
     compensation received from the Funds by Savanna is generally as follows:

     Savanna receives an asset management fee (the “Management Fee”) from each Fund for
     management and administrative services. During a Fund’s investment period, the
     Management Fee is calculated with respect to each Fund investor’s subscription as a
     percentage (generally ranging between 1% and 2% per annum) of their capital commitments.
     After the conclusion of a Fund’s investment period, the Management Fee is calculated with
     respect to each Fund investor’s subscription as a percentage (generally ranging between 1%
     and 2% per annum) of such investor’s net equity invested (the actual capital contributed to
     the Fund that has not been divested from Fund investments).

     The Firm may also be entitled to a performance fee (the “Carried Interest Distribution”)
     from the Funds based on a percentage (generally equal to 20%) of realized gains from
     investments once a performance benchmark or preferred return hurdle is exceeded.

B.   Savanna deducts the Management Fee directly from the Funds’ assets on a quarterly basis.
     Carried Interest Distributions, if applicable, are deducted directly from Funds’ assets as
     investments realize gains and not on a pre-determined schedule.

C.   The Funds generally bear their own expenses, including but not limited to: fees and out- of
     pocket costs and expenses incurred in connection with the formation of the Fund; legal and
     other expenses incurred in connection with the offer and sale of the interests of the Fund’s
     investors up to a pre-determined limit; the out-of-pocket charges and expenses of
     maintaining the Funds’ bank accounts or of any banks, custodians or depositories, including
     the costs of bookkeeping and accounting services; the out-of-pocket charges and expenses
     for administering the Funds to the extent that such charges relate to services typically
     provided by third parties; all out-of-pocket costs incurred by the General Partner or Savanna
     that are related to the Funds’ operations, including travel costs, fees and other out-of-pocket
     expenses directly related to the investigation of investment opportunities (whether or not
     consummated), the acquisition, ownership, management, financing, hedging or sale of its
     investment, meetings with the investors in the Funds, expenses associated with the
     preparation and distribution of reports to investors in the Funds; and extraordinary expenses.
     Investors and prospective investors should refer to the Funds’ Operative Documents for a
     detailed description of the expenses borne by the Funds. Clients may incur brokerage and
     other transaction costs to the extent that a Fund may hold publicly-traded securities. Please
     see Item 12 “Brokerage Practices” for more information. In certain circumstances, Savanna
     may permit investors to co-invest in investments alongside one or more Funds, subject to
     the terms of the relevant Operative Documents. In such cases, co-investors are directly
     allocated all costs and expenses in connection with the formation of the co-investment
     vehicle and are allocated their pro rata share of all costs and expenses in connection with the

     investment.

D.   Clients are generally required to pay Management Fees quarterly in advance, as specified in
     each Fund’s Operative Documents. In the event Savanna does not provide services for the
     full period, any unearned Management Fee is typically required to be returned or credited to
     investors in the applicable Fund. In general, pursuant to the Operative Documents of the
     relevant Fund, the amount of fees returned or credited is calculated based on the number of
     days remaining in the applicable period.

E.   Neither Savanna nor any of its supervised persons receive, directly or indirectly, any
     compensation from the sale of securities or other investment products.

Item 7 – Types of Clients

As described in Item 4, Savanna provides discretionary investment advice to the Funds,
which are private investment vehicles that are exempt from registration under the Investment
Company Act. Investors in the Funds are limited to individuals and entities that meet certain
suitability criteria including “accredited investors”, “qualified clients” and “qualified
purchasers.” The Funds are marketed exclusively to institutional investors and high net
worth individuals that meet these criteria.

In general, the minimum investment for the majority of the Funds is $10 million; however,
this minimum has been waived in the past, and may be waived in the future, at the discretion
of Savanna or the General Partner of each Fund.