Stripes Management LLC

Item 5 – Fees and Compensation

Management Fee

Stripes generally receives annual management fees (the “Management Fee”) in exchange for the investment
management services provided to the Funds. The Management Fees for an annual period are generally
payable on a semi-annual basis, on each February 1 and August 1, for the respective semi-annual period
beginning January 1 and July 1 of each year (i.e., partially in advance and partially in arrears). In the
unlikely event the Firm ceases to be the investment manager of a Fund during a semi-annual period, the
Management Fee payable by the Fund for such semi-annual period will be pro-rated based on the number
of days during such semi-annual period that Stripes served as an investment manager.

The amount of Management Fees payable by a Fund during its commitment period (i.e., the period of time
during which the limited partners’ capital commitments may be drawn upon to make new investments) is
approximately 2% per annum of the Fund’s aggregate capital commitments. After the commitment period,
the Management Fee is generally equal to 2% per annum on a Fund’s invested capital. The specific
Management Fees payable by a Fund are negotiated at the time of its formation and are described in the
applicable Fund’s Operating Documents.

Other Fees and Expenses

To the extent not paid or reimbursed by a Portfolio Company or third party, each Fund is also typically
responsible for all costs and expenses relating to its organization and operations, which may include, but
are not limited to: (a) legal, auditing, consulting and accounting fees and expenses; (b) expenses incurred
with the preparation and audit of a Fund’s financial statements, tax returns, K-1s and any other reports to
Partners (including any software or online data portal used in connection with such reporting); (c) attorneys’
and accountants’ fees and disbursements; (d) all expenses of the members of the Fund’s advisory committee
in connection with their services, including, without limitation, travel expenses in connection with
attendance at advisory committee meetings; (e) all expenses of the Partners; (f) all expenses associated with
the organization, evaluation, negotiation, structuring, due diligence, acquisition, holding, sale, proposed
sale, valuation or disposition of its proposed or actual Portfolio Companies, including, without limitation,
appraisal fees, taxes, brokerage fees, underwriting commissions and discounts, research expenses, travel
expenses, legal, accounting, investment banking, consulting, professional fees and other unreimbursed
expenses; (g) expenses incurred in connection with the carrying, monitoring or management of investments,
including custodial, trustee, record keeping and other administration fees; (h) insurance (including directors
and officers insurance, indemnification expenses (and damages) and the cost and expenses of any other
extraordinary events involving the Fund and the amount of and judgments or settlements paid in connection
therewith; (i) interest on and fees and expenses arising out of all permitted borrowings made by the Fund;
(j) all third-party expenses relating to unconsummated transactions; (k) all expenses relating to the
formation and maintenance of any alternative investment vehicle; (l) all expenses of winding up or
liquidating the Fund; (m) all expenses related to a defaulting Partners; (n) any taxes, fees or other
governmental charges levied against the Fund; (o) expenses incurred in connection with any restructuring
or amendments to the constituent documents of the Fund and related entities, including the General Partner
and the Firm, to the extent necessary to implement a restructuring or amendment of the Fund documents;
(p) expenses incurred in connection with distributions to Partners; (q) expenses incurred in connection with
the employment of any selling agent, broker, placement agent, or finder; (r) reasonable expenses for
business development, travel and entertainment directly related to the development and management of
Portfolio Companies and prospective Portfolio Companies; and (s) all out-of-pocket fees, costs and
expenses incurred in connection with Fund-related compliance obligations (e.g., the preparation and filing

of Form PF, compliance with the European Union’s Alternative Investment Fund Management Directive
and any other forms, schedules or other filings with governmental and self-regulatory agencies directly
related to the making, holding or disposing of Portfolio Companies by the Fund). Typically, each Fund is
responsible for all costs and expenses in connection with its operations and investments; unless otherwise
expressly agreed with Clients, Stripes is responsible for its own operations, including rent, salaries, furniture
and fixtures and all other office equipment.

Please refer to the relevant Fund’s Operating Documents for a complete understanding of each Fund’s fees
and expenses. The information contained herein is a summary only and is qualified in its entirety by the
relevant Fund’s Operating Documents.

Stripes may, in its sole discretion, waive all or any portion of the fixed Management Fee or performance-
based fee for Partners that are affiliates or employees of Stripes or its affiliates or family members of any
such persons (including trusts for the benefit of one or more such persons), or affiliates or members of the
General Partner of the relevant Fund.

Funds may incur brokerage and other transaction costs to the extent a Fund holds publicly-traded securities.
See Item 12 - Brokerage Practices for a detailed discussion of Stripes’ brokerage practices.

Neither Stripes nor any of its “supervised persons” accepts compensation for the sale of securities or other
investment products.

Item 7 – Types of Clients

Stripes provides investment advice to the Funds, which are private investment vehicles that are exempt
from registration under the Investment Company Act. The Funds’ investors are limited to individuals and
entities that meet certain suitability criteria including “accredited investors”, “qualified clients” and
“qualified purchasers.” The Funds are marketed exclusively to institutional investors and high net worth
individuals that meet these criteria.

The minimum investment in a Fund typically ranges between $5,000,000 and $20,000,000 but is subject to
waiver at the discretion of Stripes.