Westbound Equity Management LLC

Item 5 – Fees and Compensation

Management Fees

Below is a discussion of how Westbound is compensated in connection with providing advisory
services to the Funds. Westbound may enter into different fee arrangements on a Fund-by-Fund
basis. It is critical that Investors refer to the applicable Fund Documents for a complete
understanding of how Westbound and its affiliates are compensated for advisory services. The
information contained herein is a summary only and is qualified in its entirety by each applicable
Fund Document.

Westbound receives management fees (the “Management Fees”) as a percentage of committed
capital. The Management Fee is payable by the applicable Fund to Westbound, as specified in the
applicable Fund Documents. The proportion of the fee payable by each Investor will vary based on
a variety of factors including the size of a particular Investor’s commitment. Unless otherwise
specified in the applicable Fund Management Agreement, the Management Fee begins to accrue as
of the date of the initial closing of a Fund based on total commitments regardless of when an
Investor is actually admitted. After the commitment period expires (or upon the occurrence of
certain other events set forth in such Funds Governing Documents), the Fund’s management fee
will be a percentage of funded Commitments in respect of investments which may be reduced
according to the terms of the Fund’s Management Agreement. The Management Fee is pro-rated
for any partial years of a Fund.

Investors should refer to the Fund Documents for a description of the relevant fees for each Fund.
In all cases, fees are calculated and paid in accordance with the relevant Fund Documents. Lower
fees for comparable services may be available from other sources.

Item 7 – Types of Clients
Westbound provides investment advisory services only to private funds that are exempt from
registration under the Investment Company Act of 1940, as amended.
Fund interests are offered and sold generally to investors that are either (a) non-U.S. Persons as
defined in Regulation S under the Securities Act or (b) qualified purchasers as defined in Section
2(a)(51)(A) of the Investment Company Act of 1940, as amended.

Investment minimums for each Fund are set forth in the applicable Fund Documents.

Westbound does not intend to market to or have individual retail clients or high net worth individual
clients and therefore is not required to file Form CRS.

Refer to Item 4 – Advisory Business for further discussion of the Funds.