Shasta Ventures Management LLC

Item 5.     Fees and Compensation

The Firm’s fees and compensation are described in detail in each Fund’s Governing Documents.

Fees Generally

The Firm is generally paid management fees, in an amount based on capital commitments, from the Funds
quarterly in advance. The Firm deducts such management fees from each Fund. The Firm may waive or
modify the management fee payable with respect to any investor, Principal or Firm employees. Upon
termination of an advisory agreement with a Fund, any management fees that have been prepaid will be
returned on a prorated basis.

The Shasta Ventures GPs and affiliates of the Relying Adviser will be entitled to receive carried interest
from the Funds, as further described in Item 6 – Performance-Based Fees and Side-By-Side Management.

Shasta Ventures Management, LLC                                                              Form ADV Part 2A

Expenses Generally

Investors in the Funds should carefully review the expense provisions in their applicable Fund’s Governing
Documents for a complete description of such Fund’s expense practices.

The Funds will bear certain expenses as outlined in the relevant Fund’s Governing Documents, generally
including, as applicable, (i) organizational expenses incurred in connection with the organization and
formation of the relevant Fund and the relevant Shasta Ventures GP (including legal and accounting fees
and expenses); (ii) expenses incurred in the investigation, holding, purchase, sale or exchange of
securities, (whether or not ultimately consummated), (iii) expenses incurred in connection with the
investigation, prosecution or defense of any claims by or against the relevant Fund, including claims by or
against a governmental authority, (iv) audit and accounting fees, consulting fees relating to investments
or proposed investments, taxes applicable to the relevant Fund on account of its operations, (v) fees
incurred in connection with the maintenance of bank or custodian accounts, (vi) all expenses incurred in
connection with the registration of the securities under applicable securities laws or regulations, as well
as expenses incurred by the applicable Shasta Ventures GP in serving as the partnership representative,
(vii) the reasonable cost of liability and other premiums for insurance protecting the relevant Fund, the
relevant Shasta Ventures GP, the Firm, and their affiliates from liability to third parties, (viii) all out-of-
pocket expenses of preparing and distributing reports and other communications to investors and out-of-
pocket costs associated with limited partner meetings or advisory committee matters, (ix) all legal and
accounting fees relating to the relevant Fund and its activities, (x) all costs and expenses arising out of the
relevant Fund’s indemnification obligations pursuant to its Governing Documents, and all other expenses
that are not normal operating expenses and (xi) all liquidation costs, fees, and expenses incurred by the
relevant Shasta Ventures GP in connection with the liquidation of the relevant Fund at the end of its term.

Item 7.     Types of Clients

Investors in the Funds are generally high net worth individuals and institutional investors, including public
pension plans, corporate pension plans, insurance companies, fund-of-funds, endowments, foundations,
family trusts, banks and public utilities, that qualify as “accredited investors” (as defined in Rule 501 of
Regulation D under the Securities Act of 1933, as amended) and qualified purchasers (as defined in Section
2(a)(51) of the Investment Company Act of 1940, as amended). The minimum initial investment in the

Shasta Ventures Management, LLC                                                           Form ADV Part 2A

Funds will be determined by the Firm and set forth in the Funds’ Governing Documents. The Firm has
waived such minimum and may, in its discretion, do so in the future under certain circumstances.