Twentyfour Asset Management LLP

Item 5.         Fees and Compensation
The Firm receives management fees for advisory and sub-advisory services provided to the US
segregated mandate, the Private Fund, the Irish Private Credit Fund, and the RICs.

The Private Fund and the segregated mandate each pay the Firm a management fee within 10 business
days following each month end. TwentyFour UK reserves the right to reduce or waive this management
fee with respect to any fund investor.

The Firm, together with TwentyFour US, has voluntarily agreed to cap total operating expenses of the
Private Fund at an annualized rate of 0.495% of the average daily net assets of the Private Fund. If the
total operating expenses exceed that amount, TwentyFour UK will bear such excess and will not be
reimbursed by the Private Fund.

The Private Fund may bear all of its respective administrative and operational expenses, including, the
organizational expenses paid in connection with the formation of the fund; the expenses relating to the
initial offering of the interests (generally referred to as syndication costs); legal fees; printing and mailing
costs, including the costs of printing and distributing annual reports and statements; software, data
bases and other technical and telecommunications services; hardware directly related to the Private
Fund; custodial fees, bank service fees and charges; regulatory and compliance expenses directly related
to the Private Fund as well as filing fees and expenses (including government and regulatory filings
made in respect of the Private Fund, such as Form PF preparation and filing expenses); the Custodial
Trustee’s fees; the Delaware Trustee’s fees; the fees of any outside service providers such as a third-
party administrator (including investor-related administrative services for the Private Fund, as well as
middle- and back-office services for the Firm in relation to the Private Fund); insurance expenses;
accounting, audit, and tax preparation expenses; and taxes (including interest and penalties) imposed
on the Private Fund and all expenses incurred by the Private Fund or the Firm in connection with any
tax audit, proceeding or investigation of the Private Fund.

The Private Fund will bear all its investment expenses, including interest expenses, brokerage
commissions (including options trades), spreads, mark-ups on securities, swaps and forwards,
transaction costs, taxes on securities held in the investment portfolio, financing expenses in respect of
the Private Fund’s use of derivatives, and any other expenses that the Firm reasonably determines
should be expenses of the Private Fund.

The Irish Private Credit Fund pays the Firm a management fee of 1%, per annum, payable quarterly in
arrears. The Irish Private Credit Fund may, in its sole discretion, elect to reduce, in whole or in part,
the management fee with respect to certain investors, including in relation to the sponsor commitment.

In terms of transaction fees the management fee will be reduced by an amount equal to 100% of the
Irish Private Credit Fund’s pro rata share of any commitment fees, breakup fees, agency fees,
monitoring fees, other management fees, arrangement fees, syndication fees, transaction fees,
investment banking fees and underwriting fees earned and retained by the Firm and/or any of its
respective affiliates in connection with an investment (or potential investment) of the Irish Private
Credit Fund.

In terms of organizational expenses, the Irish Private Credit Fund will be responsible for all fees, costs,
charges, expenses, liabilities and obligations incurred in relation to or in connection with the
establishment of its General Partner, the Irish Private Credit Fund itself and any feeder funds, and any
investment holding vehicles, and the marketing and offering of the interests (including drafting and
negotiating its governing documents and the governing documents for any feeder funds, any side letters,
any related agreements contemplated hereby or thereby), and the establishment, organisation and
creation of the operational structure of its General Partner, the Irish Private Credit Fund itself and any
feeder funds, and any investment holding vehicles, including travel, lodging, meals, entertainment, legal,
accounting, regulatory compliance, printing, postage and other costs of establishment (other than any
placement fees). The aggregate amount of such organisational expenses that exceed $2 million may be
paid by the Irish Private Credit Fund but will be borne by the Firm through a 100% offset against the
management fee.

In terms of operating expenses, the Irish Private Credit Fund shall be responsible for all fees, costs,
charges, expenses (together with any irrecoverable VAT), liabilities and obligations relating to the Irish
Private Credit Fund and/or its activities (including board meetings and General Partner director fees),
the General Partner and/or its activities, each feeder fund, and/or its activities, and all business relating
to actual or potential investments (whether incurred directly or indirectly through an investment holding
vehicle, a co-investment vehicle or other intermediary vehicle). Such operating expenses include, but
are not limited to, all fees, costs, charges, expenses, liabilities and obligations incurred in connection
with its respective administrative and operational expenses; the expenses relating to the initial offering
of the interests (generally referred to as syndication costs); legal fees; printing and mailing costs,
including the costs of printing and distributing annual reports and statements; indebtedness of, or
guarantees made by, the Irish Private Credit Fund or its affiliates on behalf of the Irish Private Credit
Fund (including any borrowing facility or other credit facility, letter of credit or similar credit support);
software, data bases and other technical and telecommunications services; hardware directly related to
...

Item 7.        Types of Clients
TwentyFour UK provides discretionary investment management services to non-U.S. institutional
investors via segregated mandates, to an Irish Private Credit Fund that is available to US and non-US
investors, to two Guernsey-based closed ended funds that are listed on the London Stock Exchange
and targeted toward non-US investors, and to UCITS funds in Europe and the UK which are targeted
toward non-U.S. investors. The UCITS funds are all organized outside the U.S. and not offered to U.S.
persons.

TwentyFour UK provides discretionary investment management services to U.S. investors into the
Private Fund who may be ERISA or other employee benefit accounts, but ultimately, the Private Fund
is designed only for U.S. sophisticated persons who are able to bear a loss of their capital contributions
in the Private Fund. Investors are generally required to make a minimum initial investment of
$5,000,000.

Segregated mandate clients will be reviewed and approved on a case-by-case basis but typically would
not be accepted by TwentyFour UK except for an institutional client with a minimum initial investment
of $5,000,000 and a commitment to grow investment in the mandate to at least $50,000,000 within 3
years. TwentyFour UK does not manage assets of segregated mandates belonging to individuals.