Selby Lane Capital LLC

Item 5 – Fees and Compensation

Adviser Compensation

Private Fund Management Fees: Each Private Fund investor bears its proportionate share of the
applicable investment management fee charged to the Private Fund. Compensation earned by
Selby Lane for providing investment advisory services to the Private Funds is generally composed
of an asset-based management fee, which does not exceed 2% and is generally payable quarterly
in advance in addition to a performance-based fee, if applicable. In the event that an advisory
agreement is terminated prior to the conclusion of a billing period, Selby Lane will refund a pro
rata portion of any pre-paid management fees in accordance with the terms of the governing
agreements. The management fee is generally deducted directly from the Private Fund’s assets.

Management fees are based on committed capital, invested capital, net asset value or the
aggregate of committed and invested capital, according to the terms of a fund’s governing
agreement. Commitment-based fees are generally charged to a Private Fund during its investment
period. After the investment period, the basis for the management fee varies according to the
terms of each Private Fund’s governing agreement.

Management fees are based on the Funds’ net asset value, which calculated by the funds’
administrator using data from the Managers of the underlying funds. On a quarterly basis, each
Manager provides the fund administrator with valuation reports showing the net asset value of the
underlying funds. The fund administrator compiles these reports and calculates the net asset value
for each Private Fund in compliance with the Firm’s valuation policy. The Firm’s Valuation

 Gross Asset Values for the Funds: Due to the timing of this filing, the Firm has estimated gross asset values as of
12/31/2025 utilizing valuations as of 9/30/2025. An amended ADV will be filed reflecting final 12/31/2025 values
once available.

Committee reviews and approves the administrator’s calculations. If a Manager’s net asset values
are not otherwise available, Selby Lane will follow its fair valuation policies and procedures. Any
market-traded securities held in a client’s custodian account are priced by the custodian or other
independent pricing service provider.

In addition, as described in Item 6 - Performance-Based Fees and Side-by-Side Management,
Selby Lane or its affiliates has the potential to earn performance-based compensation from certain
Private Funds in the form of a carried interest in profits.

A Private Fund’s general partner (an affiliate of Selby Lane) may, in its discretion and in
accordance with the fund’s offering documents, offer one or more limited partners of the fund the
opportunity to co-invest alongside the Private Fund in an underlying fund. Management fees
and/or carried interest that may be received by Selby Lane or its affiliates in connection with co-
investments will be determined on a deal-by-deal basis.

Advisory Consulting Services Fees: The Firm will charge either a fixed or asset-based fee that is
determined according to the type and complexity of the specific services we provide. Asset-based
fees could be charged based on the amount of a client’s capital commitments or on net asset
value or invested capital. In some cases, clients will pay an incentive or carried interest fee. Terms
regarding scope and nature of services provided, fees charged for those services, fee
calculations, and manner of payment are documented in a client’s investment advisory
agreement.

Investment advisory agreements may be terminated according to the terms of the agreement.
Fees are prorated for the number of days for which the agreement is in effect.

We reserve the right to negotiate our advisory fees. The fees that we charge for advisory services,
fixed fees, or project fees are specified in a client’s investment advisory agreement or other
services agreement you have with us.

Other (Non-Advisory) Fees

Selby Lane’s advisory fees are exclusive of transaction and other fees and expenses that may be
incurred by a Private Fund. These other fees and expenses are described in detail in each Private
Fund’s offering memorandum or partnership agreement. Other fund fees and expenses may
include, among others:

       •       Third-party custody fees;
       •       Organizational expenses;
       •       Legal, fund administration, accounting and tax preparation fees; and
       •       Fees and expenses of money market funds that hold cash balances.

All fees paid to Selby Lane for investment advisory services are separate and distinct from these
other (non-advisory) fees and expenses. More information regarding a Private Fund’s fees and
expenses is set out in the fund’s offering documents. Neither Selby Lane nor any of its employees
receive placement fees or commissions from third parties for the sale of securities or other
investment products, including asset-based charges or service fees from the sale of mutual funds.

Item 7: Types of Clients

Selby Lane provides advisory services to a variety of investors including individual investors,
institutional investors, and private pooled vehicles.