V29 Capital Management LLC

Item 5: Fees and Compensation

The fees and compensation applicable to the Funds are set forth in detail in the corresponding
Offering Documents. A brief summary of such fees is provided below.

Management Fee

The Investment Manager shall be paid a management fee (“Management Fee”) based upon
the value of each investor’s Actively Invested Capital as of the first day of each calendar
quarter or on the transaction closing date if other than the beginning of a quarter. For
purposes of determining the Management Fee, Actively Invested Capital (as defined in the
Limited Partnership Agreement) shall be based on the Actively Invested Capital as of the first

V29 Capital Management, LLC                              Form ADV Part 2A Brochure

day of each quarterly period and shall be adjusted to reflect any increase or decrease in the
Actively Invested Capital during the preceding quarter.

The Management Fee will be paid quarterly in advance, prorated for any applicable period of
less than a full quarter period and/or the Management Fee Reduction as applicable.

Generally, the Management Fee is not negotiable. However, V29 or the General Partner, as
applicable, may, in their sole discretion, waive, reduce or modify the Management Fee at any
time, including with respect to current and former partners, members and affiliates of General
Partner or V29.

Performance-Based Compensation

Upon realization of investments, the General Partner, an affiliate of the Investment Manager
will be entitled to receive performance-based compensation in the form of an Incentive
Allocation, which is compensation that is based on a share of the net profits attributable to an
Investor’s Capital Contributions (including unrealized gains and losses on investments (other
than Designated Investments) and net profits and net losses from the liquidation, realization
or deemed realization of Designated Investments attributable to a participating Investor). The
rate of the Incentive Allocation generally ranges from 10% to 20%, and is subject to a loss
carryforward provision and such other terms as described in each Client’s Offering
Documents.

V29 or the General Partner, as applicable, may, in their sole discretion, waive, reduce or
modify the Incentive Allocation at any time, including with respect to current and former
partners, members and affiliates of General Partner or V29.

Other Types of Fee and Expenses

V29 is authorized to incur and pay in the name and on behalf of the Funds all expenses which
they deem necessary or advisable.

The Firm renders its services to the Funds, without reimbursement, and is responsible for all
ordinary administrative and overhead expenses, including all costs and expenses on account
of rent, salaries, wages, bonuses and other employee benefits.

All other expenses are paid by the Funds and shall include, to the extent not paid by any
Portfolio Company or other Person (including by amounts received in connection with the
termination, cancellation or abandonment of a potential Investment that is not
consummated): all costs, fees, liabilities, obligations and expenses relating to the Funds
activities, business, Portfolio Companies or actual or potential investments, including any and
all costs and expenses relating to the Funds or actual or potential investments or otherwise
incurred in connection with the discovery, evaluation, acquisition, hedging, holding,
management, monitoring or disposition of investments (including in connection with the
establishment of or investment in a “platform” Portfolio Company or similar joint venture and
any investment vehicle associated with any of the foregoing) (whether or not consummated
and whether or not incurred prior to the Initial Closing Date), including, private placement
fees, sales commissions, appraisal fees, taxes, brokerage fees, underwriting commissions and
discounts, travel (including, transportation, meal, entertainment and lodging expenses),
Fairness Opinions, press releases, legal, accounting, investment banking, advisory, consulting,
information services and professional fees (which reimbursement may include fees, costs and
expenses of dedicated, exclusive and/or shared operating consultants and other specialty

V29 Capital Management, LLC                               Form ADV Part 2A Brochure

professionals (including, information technology, human resources, ESG, cybersecurity,
restructuring, legal, accounting and insurance consultants, industry executives, subject matter
experts or similar persons providing services to Portfolio Companies and/or the Funds) and
senior advisors, industry executives, subject matter experts or other persons acting in a similar
capacity, including, expenses of the Manager or Affiliates of the General Partner or the
Manager that employ or otherwise engage such professionals in the total amount that the
General Partner reasonably determines would be paid to procure such services from third
parties) and attending conferences in connection with the research, sourcing (including
networking) and evaluation of potential future investments or particular sector opportunities
(irrespective of whether any such investments is ultimately consummated); Lead Investor
Expenses up to $600,000 (with any amount in excess being borne solely by the Lead Investor),
and the Funds allocable share (as determined in accordance with the Purchase Agreement) of
the Transaction Expenses incurred; any and all costs and expenses incurred in connection with
the carrying or management of investments, including, custodial, trustee, record keeping and
other administration fees; any and all fees, costs and expenses incurred in connection with (A)
the preparation and distribution of the Funds financial statements, tax returns, including IRS
Schedule K-1s (and other applicable tax forms); (B) press releases, communications, reports
or materials prepared for the Limited Partners and the Advisory Committee (including, the
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Item 7: Types of Clients

Our clients are the Funds, as described in Item 4 above, and the Funds are generally open to,
among others, institutions, pension plans, endowments, high net-worth individuals,
financially sophisticated individuals, and other sophisticated investors.