True Green Capital Management LLC

Item 5 Fees and Compensation

       The specific manner in which the Firm charges fees is described in each Client’s Governing
       Documents. The fees payable to TGC can vary from Client to Client and could be different from
       the fees and compensation payable in respect of any prior or successor Client. All investors should
       review the Governing Documents of the relevant Client in conjunction with this Brochure for
       complete information on the fees and compensation payable with respect to that particular
       Client. In exchange for the investment advisory services provided to the Clients, the Firm receives
       a management fee (the “Management Fee”), payable in advance in United States Dollars on a
       quarterly basis. The Management Fee generally will not be refunded.

       The Firm intends to deliver this Brochure only to “qualified purchasers” as defined in Section
       2(a)(51)(A) of the Investment Company Act and “accredited investors” within the meaning of
       Regulation D of the Securities Act of 1933, as amended (the “Securities Act”); and therefore, is
       not required to disclose its Clients’ fee schedules.

       As described below and in more detail in each Client’s Governing Documents, the Management
       Fee will be reduced by the amount of (i) any placement fees paid by each Client; (ii) any
       organizational expenses paid by each Client in excess of an aggregate limit; (iii) certain alternative
       fees (described below); and (iv) certain other related costs and expenses that are incurred by the
       Clients (as defined below as Client Expenses and as further described in the applicable Governing
       Documents of each Client; and excluding any Origination Fees and Asset Management Fees as
       defined below and in the applicable Governing Documents). Please see “Item 12. Brokerage
       Practices” of this Brochure for more information about the Firm’s brokerage arrangements for its
       Clients.

As described in an applicable Client’s Governing Documents, TGC could be admitted as an investor
in such Client and make a capital commitment therein that is funded in part by a reduction in the
applicable amount of Management Fees otherwise payable to TGC.

Typically, a Client bears all costs and expenses of its operation as set forth in the relevant Client’s
Governing Documents.

The general partners have, and could in the future, at times, in lieu of the Management Fees
payable in respect of an investor, agree to alternative fee structures and arrangements with such
investor in consideration of the services provided by the Firm to a Client pursuant to the Client’s
Governing Documents in respect of such investor. Any such alternative fees generally will
constitute Client Expenses and be borne by and charged to a Client. The general partners, in their
sole discretion, have and could in the future from time to time agree with the Firm to waive or
charge a reduced Management Fee with respect to the commitments of one or more investors,
and no Management Fee shall be payable with respect to commitments made by the general
partners, the Firm, any principal owner or key person, any TGC affiliate (including any special
limited partner) or any employees thereof. Please see the Side Letter subsection in “Item 8.
Methods of Analysis, Investment Strategies and Risk of Loss” and “Item 10. Other Financial
Industry Activities and Affiliations” of this Brochure for more information about a general
partner’s potential varying fee structures or economic arrangements.

As described below and further set forth in the Governing Documents of each Client, TGC or its
affiliates at times are entitled to charge origination fees and asset management fees to the Clients.

Origination Fees. If, with respect to any particular investment, TGC or an affiliate has provided
significant services in connection with its identification, financing and/or acquisition (including
investment origination and development and arrangement services with respect to tax equity and
financing facilities other than facilities collateralized by uncalled capital commitments), a one-
time origination fee will, as determined by the general partner in its sole discretion, be payable
by or on behalf of the Client to TGC or the other applicable TGC affiliate. Unless the general
partner has obtained the prior written approval of a Client’s investor advisory board, the
origination fee payable with respect to any particular investment will (i) in no event be paid to
TGC or the other applicable TGC affiliate prior to the date on which the “notice to proceed” is
issued with respect to the construction of the applicable investment, (ii) be in lieu of any similar
fees payable to any other person in connection with the development, construction and/or
financing of such particular investment, and (iii) in no event exceed 5% of the aggregate projected
capital expenditures of the particular investment as of the date of the “notice to proceed”
described in clause (i) above. Subject to these limitations, the general partner will reasonably
determine the origination fee payable with respect to any particular investment consistent with
prevailing market rates and the investment objective of the Client and taking into account the
scope of a particular investment and the extent of the applicable services provided with respect
to the identification, acquisition, development, construction and/or financing of such investment.
Notwithstanding the foregoing, if required by other parties to the particular transaction, the
origination fee could be payable in multiple installments (e.g., at “notice to proceed” or other tax
equity funding date, as applicable). Any origination fee charged to the Client will be in addition to
the Management Fee paid by the Client to TGC. The general partner will review origination fees
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Item 7 Types of Clients

       TGC provides discretionary and non-discretionary investment advice to Clients, which are
       generally pooled investment vehicles. Interests in the Clients are offered to investors that include,
       without limitation, high-net worth individuals, pension plans, trusts, financial institutions,

       endowments and other U.S. and non-U.S. entities. Each investor is required to meet certain
       suitability requirements. Interests in the Clients are sold only to investors who meet qualification
       requirements under applicable securities laws.

       An investment in a Client should be based on a prospective investor’s careful analysis of its overall
       portfolio and its own objectives and needs in the areas of diversification, liquidity, return on
       investment and risk management.

       The Clients require minimum investment commitments from investors as outlined in such Clients’
       Governing Documents, subject to waiver at the discretion of each Client’s general partner.

       For certain, but not all, Clients, the Firm and its personnel manage assets for one or more parallel
       Clients (each, a “Parallel Client”) that invest in parallel to certain Clients (each, a “Main Client”).
       Parallel Clients generally make the same portfolio investments on a pro rata basis with a Main
       Client, however, depending on the terms of their respective Governing Documents, one or more
       investors in certain Parallel Clients retain approval rights over investments such that they can opt
       to be excused from a particular portfolio investment that is being pursued by a Main Client. As
       such the investment portfolio of a Parallel Client, if it opts out of an investment, would diverge
       from the investment portfolio of a Main Client with which it otherwise invests alongside. Where
       such a right exists, one Parallel Client’s exclusion from an investment could increase the
       participation of a Main Client in that investment. Similarly, one Parallel Client’s inclusion in an
       investment could decrease the participation of a Main Client in that investment. As a
       consequence, the aggregate returns realized by the Main Client and the Parallel Client(s) could be
       adversely affected in a material manner by the performance of any such excused or included
       investment. Specifically, the Firm has created a Parallel Client for one investor which is also an
       investor in Fund IV. Pursuant to a Side Letter agreement entered into in connection with its
       investment, the Parallel Client investor maintains the right to elect to be excused from certain
       investments with respect to the Parallel Client only but does not exercise similar, or any, such
       rights with respect to its investment in Fund IV.

       In addition, Parallel Client arrangements could also, to the extent permitted by applicable law,
       afford those Parallel Clients different terms than the investors in other Clients with respect to fees
       and expenses, subscription, withdrawal and redemption rights and the content and frequency of
       reports. Investors in Parallel Clients that, to the extent permitted by applicable law, have been
       granted additional access to portfolio information or enhanced transparency could be able to
       make investment decisions based on information and at times not generally available to other
       investors. Any such investment decisions made by these Parallel Client investors on the basis of
       such information, including substantial withdrawals or redemptions to the extent permitted by
       applicable law, could adversely affect the market value of another Client’s portfolio and therefore
       the value of the investors’ interests in a Client.