Viking Partners Advisors LLC

Item 5 – Fees and Compensation

The information set forth below details the fees, expenses and compensation borne by the
Funds.

Description          Amount                                          When Paid

Asset Management Except for the Viking Partners Income Quarterly
Fee              Fund Plus I and the Viking Partners
                 Income Fund Plus I-Q, the Funds pay
                 Viking Partners an annual asset
                 management fee of up to 2% of committed
                 capital for the first three years of a Fund.
                 After the first three years, an annual asset
                 management fee of up to 2% of contributed
                 and unreturned capital is paid. The Viking
                 Partners Income Fund Plus I and the
                 Viking Partners Income Fund Plus I-Q pay
                 Viking Partners an annual asset
                 management fee equal to 1.25% of
                 contributed and unreturned capital. Viking
                 Naples pays Viking Partners an annual
                 asset management fee equal to 0.5% of
                 contributed and unreturned capital.
Performance Fee  See Item 6 – below.                          See Item 6 – below.

Acquisition Fee      The Funds pay Viking Partners an Payment is at the
                     acquisition fee equal to 1% each Funds’ time of sale.
                     pro rata share of the net acquisition price
                     of each asset acquired by the Fund. Viking
                     Naples pays Viking Partners an acquisition
                     fee of 0.6% at closing of the total cost of
                     the project.
Disposition Fee      The Funds pay Viking Partners a                 Payment is at the
                     disposition fee equal to 1% of each Funds’      time of sale.
                     pro rata share of the net sales price of Fund
                     assets.
Fundraising Costs    Actual fundraising costs, up to $150,000        When billed.
                     are paid directly by the Funds when billed.
Legal, audit, and    As incurred by the Funds or its subsidiaries    As incurred.
ongoing offering     or affiliates. The Funds will bear their pro
expenses, banking    rata share of all fees and expenses that may
fees, and            be applicable to more than one Fund.
operational and
extraordinary fees
and expenses.

Viking Partners, in its sole and absolute discretion, may waive, reduce or grant rebates of
the management and performance fees chargeable with respect to certain investors.

Asset management fees are paid in advance of the quarter for which they are billed. After
the end of the three-year commitment period, the asset management fees are recalculated
after each quarter end for any capital returned during the quarter. Any adjustments are
credited against the prepayment of the upcoming quarterly fees.

For complete information on the fees, charges and expenses relating to each Fund, investors
should review the Fund’s offering memorandum.

Item 7 – Types of Clients

Viking Partners currently provides investment advice solely to pooled investment vehicles.

Investors in the Funds are generally limited to high-net-worth individuals. The Funds
provide for a minimum commitment of $500,000. Employees of Viking Partners, and
related entities, are provided the opportunity to invest at amounts below the minimum.
Viking Partners may in its sole discretion reduce the minimum initial investment amount.