Summer Street Capital Partners LLC

ITEM 5: FEES AND COMPENSATION

Description:
For the first five years of the private fund’s contractual life, investment management fees are a percentage of the total capital
commitments made by all limited partners. Following the first five years, the investment management fees in relation to the
private fund is a percentage of the aggregate capital contribution made by such Partnership’s limited partners towards the
purchase price of (and all other costs and expenses directly attributable to) such Partnership’s investments then
outstanding, unless otherwise amended. The fee percentage for Summer Street Capital III, L.P. is 2.0% / 1.75%The Limited
Purpose Vehicle pays a variable annual management services fee to the Company based upon the portfolio company’s

EBITDA with minimum and maximum annual amounts.

Fee Billing:
Fees are paid on a quarterly basis in advance. Management fees for the first and last fee quarters of the Partnerships’ lives are
prorated for the periods based on the number of days elapsed.

Other Fees or Expenses:
In addition to management fees, the Partnerships bear out-of-pocket expenses for services rendered to or for their benefit by
third parties, including legal, audit, tax, consulting, and other professional services; organization costs; expenses of
Partnership and committee meetings; taxes, assessments and insurance. Each Partnership also pays all expenses incurred in
connection with the purchase or potential purchase, holding, and sale of investments.

As a general matter, Partnership expenses typically will be allocated among all relevant Partnerships to the extent such
Partnerships are required to reimburse (or otherwise pay) expenses of that kind pursuant to the terms of their respective
governing documents and in accordance with the Company’s internal expense allocation policies and procedures. Subject to
the applicable Partnership Documents, Partnership expenses relevant to multiple Partnerships will, in Summer Street’s good
faith determination, be allocated to such Partnerships typically on a pro-rata basis (generally based on: (i) the relative size of
a Partnership’s invested capital, in the case of investment-related expenses and (ii) in the case of other expenses, the relative
size of a Partnership’s capital commitments (in the case of a Partnership whose investment period has not yet ended) or the
relative size of a Partnership’s actively invested capital (in the case of a Partnership whose investment period has ended). In
all cases, subject to applicable legal, contractual or similar restrictions, the Company or its affiliates using their best
judgment, may allocate expenses in a different manner than that described above where they believe such an allocation is in
the best interests of the relevant Partnerships. The allocation of such shared expenses may not be proportional in each and
every case. Different Partnerships may (and, in certain instances, do) have different expense reimbursement terms per the
terms of their governing documents, which could (and, in relevant instances, do) result in the Partnerships bearing different
levels or types of expenses.

The Company and its personnel can be expected to receive certain intangible and/or other benefits and/or perquisites arising
or resulting from their activities on behalf of the Partnerships that will neither be subject to an offset against any
management fees payable to the Partnerships nor will otherwise be shared with the Partnerships and/or portfolio
companies. For example, airline travel or hotel stays incurred as Partnership or account expenses typically result in cash
rebates, “miles,” “points” or credit in loyalty/status programs, and such benefits and/or amounts will, whether or not de
minimis or difficult to value, inure exclusively to the Company and/or such personnel (and not the Partnerships and/or
portfolio companies) even though the cost of the underlying service is borne by the Partnerships and/or portfolio companies.

Participation or Interest in Client Transaction:
The Company may receive negotiated compensation from portfolio companies that one or more Partnerships are invested
in, as and to the extent permitted by the limited partnership agreements of the applicable Partnerships. For the majority of
the Partnerships, these transaction fees are deducted from investment management fees billed. These offsets / deductions
range from 0% for two Partnerships and 80% to 100% of the transaction fees received for the remaining. In the past the
Company has utilized the services of operating partners to assist in various activities for the benefit of the Partnerships,
including: operational assessments for prospective investments, board service or operational consulting services for the
Partnership’ portfolio companies, and on occasion, full-time or part-time employment with portfolio companies. The fees
and expenses of such operating partners are typically paid by the applicable portfolio companies and such fees and
expenses are not offset against the management fees payable by the applicable Partnerships. There were no such operating
partners in 2025.

ITEM 7: TYPES OF CLIENTS

The Company’s clients are all private equity fund partnerships or similarly structured limited purpose investment vehicles,
as noted earlier in ITEM 4. Members of the Partnerships include pension plans, financial institutions, trusts, other private
equity funds and qualified high net worth individuals. The minimum capital commitment requirement is approximately
$100,000 - $400,000 (subject to the discretion of the general partner of the applicable Partnership to accept lesser
amounts).