TC Latin America Partners LLC

Item 5 – Fees and Compensation

In return for services provided, each Client pays us a management fee (a percentage of
commitments and/or capital investments under management) and a performance-based carried
interest (a percentage of the net profits from divestment of portfolio holdings after capital is
returned and a preferred return, as described in Item 6, below). We may also receive additional
fees, as described below.

Management Fees

Funds

The Funds pay us a management fee up to the amount specified in each Fund’s offering materials.
Through the end of a Fund’s “Investment Period,” this fee is typically 1.5%-2.0% of the aggregate

capital commitment of the Fund’s investors. After the end of the Investment Period (or upon such
other events as may be specified in each Fund’s offering materials), the fee is typically equal to
1.5%-2.0% of invested capital. Certain of the Funds provide fee breaks for investors who
contribute in excess of a minimum investment specified in each Fund’s offering materials, and we
have entered into side letters with certain investors that give them a lower management fee. If our
personnel or senior management of PEI and its affiliates invest in any Fund, we do not expect to
charge them a management fee, but no personnel are currently invested in our Funds.

The management fee is accrued and payable quarterly or semi-annually in advance. In the event
of an early termination of a Fund, we will return to the Fund the proportionate amount of the
management fee attributable to the period after the termination date.

Fees for Funds set up in future may be different from what is noted above. Prospective investors
should refer to the offering materials or other organizational documents of the relevant Fund for
information on the fees they will incur.

Co-Investors

The Registrant is also entitled to receive a management fee from Co-Investors which are negotiated
with each Co-Investor and set forth in writing in the Co-Investment Agreements. The Registrant
may charge different management to different Co-Investors.

Other Fees

We may also receive directors’ fees, transaction fees, investment banking fees, advisory fees,
monitoring fees, or similar fees in connection with consummated transactions or as compensation
for certain of our principals and employees serving as directors or advisors to portfolio companies
(collectively referred to below as “Other Fees”).

These Other Fees are determined on a transaction by transaction basis, and are generally calculated
based on the total enterprise, transaction or financing value of the portfolio company involved in
the transaction. To the extent these Other Fees are paid directly to us by companies owned by a
Fund or Co-Investor, they would effectively result in an indirect fee paid by the Fund or Co-
Investors. However, unless otherwise agreed with a Fund or Co-Investor, our management fees
are offset by 100% of the Other Fees we receive attributable to such entity, which we believe aligns
our interests with those of the Funds and Co-Investors.

An affiliate of ours acts as developer in certain portfolio investments, and receives project-related
development fees from those portfolio investments in exchange for the development services
provided. The affiliate will share a certain percentage of its profits from a project with the Fund(s)
invested in that project in accordance with a profit sharing schedule. Please see Item 10 for more
information about the affiliate.

Additional Expenses

The investment strategies we employ generally do not involve the purchase or sale of publicly
offered securities, and as such, do not typically entail expenses related to brokerage commissions,
although other expenses may arise. In addition, the investment strategies we employ may involve

expenses paid by Clients that are related to legal, tax, regulatory and other issues, as well as the
costs of other service providers and intermediaries, such as investment banks, that may be involved
in the purchase or divestment of each Fund’s, Co-Investor’s or Client’s portfolio holdings. Please
refer to Item 12 for additional information regarding the factors we consider in selecting service
providers, including broker-dealers when necessary, for transactions, and in determining the
reasonableness of their compensation.

Our fees are exclusive of these costs, as well as other transaction fees, custodial fees, organizational
costs, and other related costs and expenses, all of which are incurred by the Clients (either directly,
or indirectly if the expenses are paid by the portfolio companies). In addition, each Client also
bears expenses of its own administrator(s) and certain other service providers. We encourage you
to review the Fund’s offering materials, Co-Investor Agreements, or Client Agreement, as the case
may be, which contain additional disclosures regarding expenses.

All expenses associated with any specific investment made will be allocated pro rata in accordance
with each Fund and Co-Investor's allocation of the investment opportunity, as applicable. In the
event that a co-investment is not consummated, any additional expenses of that investment not
related to the Fund’s allocation will be paid by us.

Related Matters:

Side Letters. We may negotiate specific terms of investment for certain investors in the Funds that
will differ from the terms applicable to other investors. For example, such terms may include
priority co-investment rights and access to more detailed reports on the Funds.

Alternative Investment Vehicles. Sometimes certain Fund investors, for legal, regulatory, or tax
reasons, would be disadvantaged if an investment was made directly in a portfolio investment by
their Fund. In these circumstances, we may permit these investors to invest alongside each of the
Funds, on the same terms as each Fund, through an alternative investment vehicle (“AIV”, and
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Item 7 – Types of Clients

As noted in Item 4 above, we provide non-discretionary real estate investment advisory services
to the Funds, Co-Investors, AIVs, and Parallel Funds (which are generally organized as foreign
limited partnerships). The Funds often require capital commitments of at least $5 million, although
a Fund’s constituent documents may allow for exceptions to the minimum in our discretion.