Vivo Capital LLC

Item 5 – Fees and Compensation

A. Interests in the Funds were only offered to “accredited investors” as defined in Rule 501 under
   Regulation D promulgated under the Securities Act of 1933, as amended (the “Securities Act”), or
   “qualified purchasers” as defined in the Investment Company Act of 1940, as amended (the
   “Investment Company Act”). Vivo and/or its affiliates generally receive management fees and
   performance fees for providing advisory services to the Funds. Investors and prospective investors
   should refer to the Funds’ governing and offering documents for a detailed description of the fees and
   expenses associated with investments in the Funds.

B. Vivo deducts management fees (the “Management Fee”) directly from the Funds’ assets paid
   quarterly in advance. The Firm may also be entitled to a performance fee (the “Carried Interest”),
   based on cumulative net profits from investments, as specified in each Fund’s governing and offering
   documents. The Carried Interest, if applicable, is distributed directly from a Fund’s assets and not on
   a pre-determined schedule. Management Fees will vary amongst the Funds.

C. Each Fund will bear all costs and expenses related to the purchase, holding, sale or exchange of
   portfolio securities, Management Fee, Fund meetings, advisory committee matters, indemnification
   obligations pursuant to the partnership agreement, liability and other insurance premiums for the
   partnership, expenses associated with communications and reports, all legal, accounting and
   regulatory filing fees relating to the Fund and its activities, and any extraordinary expenses of the
   Fund.

    Each Fund will also bear all costs and expenses related to the liquidation of the Fund’s assets upon
    termination of the Fund. Investors and prospective investors should refer to the respective Funds’
    governing and offering documents for a detailed description of the expenses borne by the Funds.

    From time to time, in order to enhance the operations of a Vivo portfolio company and preserve and
    increase the value of the portfolio company, Vivo’s employees may serve as “operating executives”
    on a temporary basis of Vivo portfolio companies. In those occasions, the Vivo employee may enter
    into a consulting or employment agreement with the portfolio company. Such operating executive’s
    compensation from a portfolio company needs to be reasonable and commensurate with the role
    that such operating executive plays at the portfolio company and is determined by the portfolio
    company on an arm’s length basis. Vivo may also charge monitoring fees and/or transaction fees
    where Vivo provides significant back-office support and business development for a portfolio
    company, or syndicates a consortium for a buy-out transaction, and such monitoring fees and
    transaction fees will offset the management fees of each applicable Fund in accordance with the
    Fund’s governing documents.

    Vivo’s employees may also serve on the boards of directors of Vivo portfolio companies and receive
    director fees as a result. Those director fees will offset management fees of each applicable Fund in
    accordance with the Fund’s governing documents.

 Vivo Capital LLC                                          Form ADV Part 2A Brochure            2026

D. Funds are generally required to pay Management Fees quarterly in advance, as specified in each
   Fund’s governing and offering documents. In the event Vivo does not provide services for the full
   period, the Management Fee is typically required to be returned to investors in the applicable Fund.
   In general, the amount of fees returned is calculated based on the number of days remaining in the
   applicable period.

E. Neither Vivo nor any of its supervised persons receive, directly or indirectly, any compensation from
   the sale of securities or other investment products that were purchased by the Funds.

Item 7 – Types of Clients

Vivo provides investment advice to the Funds, which are private investment vehicles that are exempt from
registration under the Investment Company Act. The Funds’ investors are limited to individuals and
entities that meet certain suitability criteria including “accredited investors” and “qualified purchasers.”
The Funds were marketed exclusively to institutional investors and high net worth individuals that meet
these criteria.

The minimum investment thresholds in the Funds range from $25,000 to $25 million; however, the
minimum investment may be waived at the discretion of the General Partner of each Fund.

Vivo and/or its affiliates have entered into separate agreements or arrangements (“Side Letters”) with
certain investors in the Funds without the approval of any other investors. The Side Letters may offer
certain investors additional or different rights or terms, including without limitation additional reporting
obligations by the Funds to such investors, disclosure rights of such investors and/or confirmation as to
whether an investor holds an advisory board seat. Also, the Side Letters will provide a customary most
favored nation feature, which may include transparency of the side letters of other investors (or subset
thereof) upon the final closing of the Fund. The Side Letters don’t offer investors with economic rights
different from what is provided in the limited partnership agreement of the Funds.