Sentinel Rock Realty Trust Inc

Fees and Compensation

Graceada receives compensation for its services through a combination of management fees,
performance-based fees (carried interest), and other related fees.

Graceada typically charges management fees based on committed capital, invested capital, or net
asset value, depending on the stage of the Fund’s lifecycle and the terms of the governing
documents. Fees are often charged quarterly in advance, although variations may exist. These fees
may be tiered or subject to discounts for early or large Investors and are generally not adjusted
downward for write-downs or impairments unless otherwise agreed.

Management Fee
During the Investment Period, the Manager/Adviser will be paid an annual management fee (the
“Management Fee”) based on each Limited Partner’s Capital Commitment. The standard
Management Fee is 1.75% per annum, reduced to 1.50% for Limited Partners whose Capital
Commitments are at least $10 million. However, for investors committing less than $1 million, a
base investment management fee of 2.00% per annum applies, along with a one-time 2.00%
Onboarding Fee.

After the expiration of the Investment Period, the annual Management Fee will be equal to 1.75%
per annum of each Limited Partner’s aggregate Capital Contributions that have been used to
acquire, improve, maintain and operate investments which have not been fully realized by the Fund
or completely written off and abandoned by the Fund (reduced to 1.50% for Limited Partners whose
Capital Commitments are at least $10 million).

Management Fees will be payable monthly in arrears, and will be prorated for partial calendar
quarters. Management Fees may be paid out of distributable proceeds, from Limited Partners’
Capital Contributions, or from amounts drawn down pursuant to any Partnership credit facility
(including any credit facility secured by the General Partner’s right to call and receive Capital
Contributions) or other indebtedness incurred by the Partnership. All or a portion of the
Management Fees may be paid by one or more subsidiaries of the Fund.

Other Fees
The Fund expects to engage the Adviser or its affiliates to provide certain property-level services,
such as property management services and, where applicable, construction management services
with respect to many of the Fund properties. The compensation arrangements for such services
will be as follows, unless otherwise agreed by the Advisory Committee:

Property Management
4% of gross property income.

Salaries and other compensation payable to employees of the Adviser or its affiliates who are
dedicated property management staff for one or more specific properties owned by the Fund
(allocated according to the time spent on each property, where applicable) will be paid at the
property level as an expense of operating each such property.

Construction Management
A blended percentage of the project budget or contract as follows:

Project Budget or Contract:            Construction Management Fee %:
$0 to $10,000                          No Fee
$10,001 to $40,000                     7%
$40,001 to $100,000                    5%
$100,001+                              3%

Compensation of Our Investment Professionals
Graceada is committed to the long-term retention of its employees and recognizes the importance
of paying top-of-market compensation. Graceada compensates its senior management with a
base salary and a discretionary bonus based on quarterly goals and performance. Additionally, to
establish alignment of interest with Clients, senior management also participates in the carried
interest of the Funds.

Operating Expenses
The Fund will be responsible for all costs and expenses incurred in connection with the operations
of the Fund and the acquisition, management and disposition of its investments, including, without
limitation:
   i.   all expenses of the Fund relating to identifying, sourcing, investigating, underwriting and
        acquiring Fund investments, whether consummated or not consummated; and all
        expenses of the Fund relating to operating, monitoring, managing, leasing, improving,
        developing, constructing, rehabilitating, zoning, marketing, advertising, financing and
        disposing of Fund investments;
  ii.   all taxes, fees or other governmental charges levied against the Fund;

 iii.   costs and expenses in connection with the maintenance of bank or custodian accounts
        and for data services, risk management assessments, analysis of the assets of the Fund,
        financial modeling and analysis software and services;
 iv.    fees and disbursements of attorneys, consultants, accountants, tax advisors, auditors,
        servicers, bookkeepers, administrators, third-party appraisers, registered agents, other
        costs of valuation, third-party due diligence, third-party research services, and other
        professionals (including fees incurred in connection with any legal opinions required to be
        delivered by or on behalf of the Fund, preparation and auditing of financial reports and
        statements, maintenance of books and records, and other similar matters, post-closing
        costs relating to complying with and documenting the terms of any Side Letters, costs
        associated with the distribution of financial and other reports to Fund Investors, costs
        associated with the preparation of checks, circulars, forms and notices to Fund Investors
        and costs associated with meetings of the Fund Investors and/or the Advisory Committee);
  v.    all costs and expenses relating to borrowings by the Fund and/or any of its subsidiaries;
 vi.    all costs and expense associated with indemnifying Indemnitees pursuant to the
        Partnership Agreement;
vii.    all costs and expenses associated with obtaining and maintaining insurance and third-party
        charges for risk management services or similar expenses incurred by the Fund or the
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Types of Clients

Graceada provides advisory services to:
   • Private pooled investment vehicles (typically limited partnerships or LLCs),
   • Institutional investors (including pensions, foundations, and insurance companies),
   • Family offices and high-net-worth individuals,
   • Joint ventures and co-investment vehicles.

Investor eligibility is generally restricted to accredited investors and qualified purchasers as
defined by federal securities laws. In general, the minimum investment is generally USD$100,000;
however, in its sole discretion, Graceada reserves the right to accept lesser amounts, or impose a
higher minimum.

Methods of Analysis, Investment Strategies and Risk of Loss

The following is a summary of the methods of analysis and investment strategies generally
employed by Graceada as well as the material risks associated with investing in such strategies.
Prospective and existing Clients are advised to review the offering materials and other constituent
documents for full details on each applicable Fund’s investment, operational and other actual and
potential risks.