Small Enterprise Assistance Funds

Item 5—Fees and Compensation

Item 5.A: The fee schedules for the Private Investment Funds vary and are described in detail in
each respective Private Investment Fund’s offering memorandum and limited partnership
agreement. A summary of the fee schedules is as follows:

Prior to their respective closings, the Private Investment Funds offered interests only to certain
qualified investors. Admission to the Private Investment Funds was not, and will not be, open to
the general public.

Investors and prospective investors were provided with a Private Placement Memorandum
(“PPM”) or other governing documents prior to their investments. Such documents contain a
detailed description of fees, and Investors should refer to the relevant offering documents or other
governing documents for any questions relating to fees.

Management Fee Payable to SEAF:

As compensation for its services, SEAF typically receives a management fee from the Private
Investment Funds (“Management Fee”). Management fees are typically paid quarterly in advance,
and on a pro rata basis for any period that is less than a full quarter period. Generally, during a
Private Investment Fund’s investment period, the Management Fee payable to SEAF is based upon
the aggregate capital commitments of the Private Investment Fund’s investors. Following the end
or termination of the investment period, the Management Fee is generally based on the outstanding
invested capital of the Private Investment Fund. The Management Fee payable to SEAF may vary
and ranges from 0.9% to 3.9% across the respective Private Investment Funds and, in certain
circumstances, reductions may apply based on the size of the capital commitment made to a Private
Investment Fund by an investor.

The Management Fee may be waived by SEAF and, under certain circumstances, is subject to
reduction.

Performance -Based Fee payable to SEAF upon Distribution/Realization of Investment
Proceeds:

Each SEAF Adviser for each respective Private Investment Fund is generally entitled to a “carried
interest” on the Private Investment Fund’s profits in accordance with the provisions of each
respective Private Investment Fund’s agreement. The “carried interest” is generally equal to a
percentage of the investments proceeds distributable by the Private Investment Funds in excess of
the capital invested by the Private Funds’ investors and their allocable share of fees and expenses,
and may be subject to a preferred return.

The Account relationships are subject to terms that are individually negotiated between SEAF and
the respective Account. A complete description of all fees for the Accounts is disclosed within the
relevant advisory or investment management agreement which is entered into by SEAF and the
Account.

It is important that investors refer to and carefully review the relevant confidential private offering
memorandum, explanatory memorandum and other governing documents for a complete
understanding of how SEAF is compensated. The information contained herein is a summary only
and is qualified in its entirety by such documents.

Item 5.B: Describe whether you deduct fees from clients’ assets or bill clients for fees incurred.
If clients may select either method, disclose this fact. Explain how often you bill clients or deduct
your fees.

SEAF deducts applicable fees from each investor’s capital account in the Private Investment
Funds. Generally, SEAF bills investors on a quarterly basis in advance for fees incurred. Investors
in the Private Investment Funds do not have the ability to choose to be billed directly for fees
incurred. In certain funds, an investor council must approve the payment of fees which are
associated with investment milestones in advance, even if these fees are presented as part of an
annual management fee.

Investors and prospective investors were provided with a PPM or other governing documents prior
to their investments. Such PPMs or other governing documents contain a detailed description of
fees and how they are deducted, and investors should refer to the relevant PPM or other governing
documents for any questions relating to fees.

The Account relationships are subject to terms that are individually negotiated between SEAF and
the respective Account. A complete description of all fees, the methods of billing and how often
such fees are charged for the Accounts is disclosed within the relevant advisory or investment
management agreement which is entered into by SEAF and the Account.

It is important that investors refer to and carefully review the relevant confidential private offering
memorandum, explanatory memorandum and other governing documents for a complete
understanding of how SEAF is compensated. The information contained herein is a summary only
and is qualified in its entirety by such documents.

Item 5.C: Describe any other types of fees or expenses clients may pay in connection with your
advisory services, such as custodian fees or mutual fund expenses. Disclose that clients will incur

brokerage and other transaction costs, and direct clients to the section(s) of your brochure that
discuss brokerage.

In addition to paying Management Fees, the Private Investment Funds (and therefore Private
Investment Fund investors) will also be subject to other costs and expenses related to such Private
Investment Fund’s activities and the management of the Private Investment Fund. Such costs and
expenses generally may include (depending on the Private Investment Fund):

•       Transaction costs and expenses directly related to the purchase, holding, or sale of portfolio
investments (including unsuccessful acquisitions and dispositions); provided, however, that the
Private Investment Fund may seek to require the payment by a prospective investee of an “earnest”
fee whenever appropriate and possible, which would be applied against these potential expenses;
•       The Private Investment Fund’s accounting expenses, auditing fees, bank charges, legal
...

Item 7 – Types of Clients

SEAF provides investment advisory services to pooled investment vehicles operating as private
investment funds and accounts which may include entities structured as permanent limited
liability commercial finance companies or on-lending companies (referred to herein as the
Private Investment Funds and the Accounts).

Interests in Advisory Clients are offered only to certain sophisticated investors who make
applicable representations which include non-U.S. and U.S. Investors who are (i) Accredited
Investors and (ii) Qualified Client and/or Purchasers. The large majority of SEAF’s investors are
sovereign, development finance, and multilateral institutions, or are institutional investors such
as pensions, commercial banks, and large listed companies.

A minimum capital commitment to invest in the Private Investment Funds may be required and
is described in each PPM.

The Accounts are subject to different terms and fees than the Private Investment Funds. Such fee
arrangements and terms are individually negotiated. It should also be noted that the Accounts
are generally subject to significant account minimums. All accounts are currently held on behalf
of individual sovereign, development finance, and multilateral institutions.