Thrivent Financial for Lutherans

Item 5 - Fees and Compensation

The General Partner is entitled to receive performance fees following the return of capital
contributions, expenses, and the payment of a hurdle percentage to the limited partner. TFL is the
managing member of the General Partner and receives all of the General Partner’s performance
fees. The General Partner of the Private Fund is entitled to a performance fee of 3.5% of net gains
above the stated hurdle rate as specified in the Private Fund’s limited partnership agreement. The
performance fee that the General Partner may receive, to the extent earned, is distributed pursuant
to the distribution provisions of the limited partnership agreement (generally, at least annually with
respect to dividend and income payments, and whenever a portfolio investment is sold, assuming
that there is an applicable gain). Neither TFL nor the General Partner receives a management fee
from the Private Fund. In addition to the performance fee discussed above, investors, through their
interests in the Private Fund, bear their proportional share of the Private Fund’s costs, expenses,
liabilities and obligations relating to the Private Fund’s activities, investments and business (to the
extent not borne or reimbursed by a portfolio company), as set forth in the limited partnership
agreement. As noted elsewhere in this document, TFL is currently the only investor in the Private
Fund. The Private Fund may incur brokerage fees through normal trading practices. Please see

Item 7 - Types of Clients

As stated earlier in Item 4, TFL provides investment advice to the Separate Account Client, TSF,
TCMT and, through the General Partner, to the Private Fund. The Private Fund invests primarily in
public securities. The Private Fund is exempt from registration as an investment company under the
Investment Company Act pursuant to Sections 3(c)(1) and/or 3(c)(7) under the Investment
Company Act. TFL is currently the only limited partner of the Private Fund, and each limited partner
must be an “accredited investor” as defined in the rules and regulations under the Securities Act
and a “qualified purchaser” under the Investment Company Act.

TFL also manages the assets of the Thrivent Financial Defined Benefit Plan Trust, which is an
affiliated defined benefit plan. Employees of TFL manage TFL’s insurance general account simply
as employees of TFL and not pursuant to any agreement or for any compensation.