The Connor Group Fund Manager LLC

Item 5 – Fees and Compensation
Fees

TCG Fund Manager or an affiliate receives a fee (typically 2.0% per annum) calculated as a
percentage of the average daily balance of invested capital (the “Management Fee”).

TCG or its affiliates retain the balance of any loan-related cash available for distribution and/or
repayment proceeds after payment of (1) the Management Fee and (2) a preferred return to investors
(such balance, the “Carried Interest”). The preferred return to each investor typically ranges from
8.5% to 10% per annum based on the investor’s capital commitments, with investors that have
committed more capital being eligible for a higher preferred return.

Additionally, TCG or its affiliates receive compensation from properties owned by TCG or the TCG
Funds, including in connection with the servicing and repayment of loans made by the Funds. This
compensation generally will not be offset against the Management Fee or Carried Interest payable
by any Fund.

Management Fees are deducted from each Fund’s assets, typically on a quarterly basis in arrears.
Carried Interest is deducted from each Fund’s assets on an annual basis in arrears.

The manager, general partner, or equivalent of each Fund, in its sole discretion, may reduce or waive
the fees applicable to individual investors.

In addition to the Management Fee and Carried Interest, the Funds are generally responsible for
bearing all costs and expenses related to the initial and ongoing formation and organization of the
Fund, including, but not limited to, legal, accounting, capital raising (including travel), and printing
expenses. A complete list of Fund expenses is set forth in each Fund’s governing documents.

Item 7 – Types of Clients
As described in Item 4 above, TCG Fund Manager invests on behalf of, and provides investment
advice and recommendations to, the Funds. Interests in the Funds are only available to investors
who meet certain eligibility criteria, including qualifying as “accredited investors,” as such term is
defined in Rule 501 of Regulation D and/or “qualified clients” as such term is defined in Rule 205-3
under the Investment Advisers Act of 1940, as amended.

The Funds generally require a minimum investment (typically between $50,000 to $250,000), which
is set forth in each Fund’s governing documents. The manager, general partner, or equivalent of each
Fund, in its sole discretion, may reduce or waive the minimum investment applicable to individual
investors.