SOLA Impact Group LLC

Item 5          FEES AND COMPENSATION

For its services to the Funds, Sola Impact Group earns Management Fees as described below.
In addition, BIGP, an affiliate of Sola Impact Group, will be entitled to receive carried
interest, a form of performance-based compensation, as described below.

Limited Partners should refer to the appropriate Fund partnership agreement and offering
memorandum for detailed information regarding fees, expenses, risks and other important
information. Any new Fund launched by Sola Impact Group may or may not have similar or
materially different terms than those summarized below. Specifically, CRA is anticipated to
have economics to the CRA GP and to Sola Impact Group under the CRA Fund not materially
different from those set forth below for BIGP and Sola Impact Group, respectively.

    A. Management Fee.

During the Investment Period, as defined in each of the Black Impact Fund’s offering
documents, Sola Impact Group will be entitled to asset management fees equal to 2.00% per
annum of each Limited Partner’s Capital Commitment. After the Investment Period, the asset
management fee will be equal to 2.00% per annum of the total purchase price of all
Properties, directly or indirectly, acquired and owned by the Fund or Project Entities plus the
cost of all improvements made thereto.

During the Investment Period, as defined in the CRA Fund’s offering documents, Sola Impact
Group will be entitled to asset management fees equal to 1.50% per annum of each Limited
Partner’s Capital Commitment for any Limited Partner investing on or prior the Initial
Closing and 1.75% per annum of each Limited Partner’s Capital Commitment for any Limited
Partner investing after the Initial Closing. After the Investment Period, the asset management
fee will be equal to 1.50% per annum (in the case of Limited Partners investing on or prior to
the Initial Closing) or 1.75% per annum (in the case of Limited Partners investing after the
Initial Closing) of the total purchase price of all Properties, directly or indirectly, acquired and
owned by the Fund or Project Entities plus the cost of all improvements made thereto.

All asset management fee will be payable quarterly in arrears.

Sola Impact Group may elect to waive any or all of the asset management fee that would be
payable to Sola Impact Group on a future date (the “Waived Fee Amount”). Upon a fee
waiver, Sola Impact Group (or its “disregarded entity” subsidiary) will become a Special
Limited Partner of the applicable Fund with no voting rights or obligations to make capital
contributions (the “Special Limited Partner”), and the applicable Fund will issue LP Interests
with respect to the Waived Fee Amount. The Special Limited Partner will generally be
entitled to the same distributions that Limited Partners are entitled to, but with its Waived Fee
Amount generally being treated as the amount of capital contributed by the Special Limited
Partner.

    B. Carried Interest.

In general, proceeds from investments will be distributed from operations and capital events
as follows in the Funds.

Net Cash from Operations

Distributions of net cash flow generated from the ownership and operation of Properties will
be made on a quarterly basis, after adjustments have been made to allow for different amounts
of asset management fees paid by Partners. Distributions will first be apportioned to the
Limited Partners (and Sola Impact Group as Special Limited Partner) based on the percentage
of capital contributed (or deemed contributed), and then the amount that is apportioned to a
Limited Partner shall be distributed as follows:

     i.      First, 100% to the Limited Partner to the extent of its unreturned capital
             contributions;
     ii.     Second, 100% to the Limited Partner to the extent of its respective accrued and
             unpaid Preferred Returns;
     iii.    Third, 100% to the General Partner until the General Partner has received 20% of
            the sum of the Preferred Return amounts distributed (x) to the Limited Partner
            from net cash flow from operations and capital events and (y) to the General
            Partner under this clause (iii) and pursuant to the Capital Event Catch-Up (the
            “Operating Cash GP Catch-Up”);

     iv. Thereafter,

               1) 80% to the Limited Partner; and
               2) 20% to the General Partner.

Net Cash from Capital Events

Net proceeds from the sale or refinancing of Properties or portion thereof that will be
distributed will first be apportioned to the Limited Partners and the Special Limited Partner
based on the percentage of capital contributed (or deemed contributed), and then the amount
that is apportioned to a Limited Partner shall be distributed quarterly to that Limited Partner
and the General Partner as follows:

      i.      First, 100% to the Limited Partner to the extent of its unreturned capital
              contributions;
      ii.     Second, 100% to the Limited Partner to the extent of its respective accrued and
              unpaid Preferred Returns;
      iii.    Third, 100% to the General Partner until the General Partner has received 20% of
              the sum of the Preferred Return amounts distributed (x) to the Limited Partner
              from net cash flow from operations and capital events and (y) to the General
              Partner under this clause (iii) and pursuant to the Operating Cash GP Catch-Up
             (the “Capital Event Cash GP Catch-Up”);

    (iv) Thereafter, in the case of the Black Impact Funds,

                 1) 80% to the Limited Partner;
                 2) 17.46% to the General Partner; and
                 3) 2.54% to the General Partner for contribution to the Community Fund
                    (defined below).

    (iv) Alternative, thereafter, in the case of the CRA Fund,

                 1) 80% to the Limited Partner; and
                 2) 20% to the General Partner.
...

Item 7            TYPES OF CLIENTS

We provide investment management services to private real estate funds as disclosed in Item 4
of this Brochure. Except in limited instances where the General Partner may accept a lower
amount, the minimum required capital commitment to the Funds is $2,500,000. Investors in
the Funds, generally, must be “accredited investors” under Regulation D promulgated by the
SEC under the Securities Act4 and either “qualified clients” as defined in Rule 205-3
promulgated by the SEC under the Advisers Act5 or “qualified purchasers” as defined in
Section 2(a)(51) of the Investment Company Act.6

  An “accredited investor” includes individuals or business entities deemed financially sophisticated based on
defined levels of net worth, income or other criteria and that are considered, therefore, to have a reduced need for
the protections afforded by regulatory disclosure filings. Refer to Regulation D under the Securities Act for the
complete definition.

 A “qualified client,” generally, includes a natural person or company meeting certain investment thresholds, net
worth, or income criteria. Refer to Rule 205-3 under the Investment Advisers Act for the complete definition.

  “Qualified purchasers” include natural persons and family-owned companies that own not less than $5 million
in investments, as well as other persons acting for their accounts or accounts of others, that own and invest on a
discretionary basis not less than US $25 million in investments. Refer to Section 2(a)(51) of the Investment
Company Act for the complete definition.

Prospective investors in any new Fund launched by Sola Impact Group should refer to the
Fund offering documents for information regarding that Fund’s minimum required capital
commitment and any additional qualifications required for investment.