Westwood Advisors LLC

Item 5 - Fees and Compensation
Fees and compensation vary by vehicle and investor. Current closed-end West Energy Secondaries
flagship funds generally contemplate a 1.5% annual management fee during the investment period
and 15% carried interest payable to an affiliate after investors receive a return of contributed capital
and the applicable preferred return, subject to the specific waterfall, catch-up, claw back, and
calculation provisions in the governing documents. Certain co-investment opportunities may be
offered on reduced-fee or no-fee/no-carry terms up to related commitment levels, while amounts
invested above those levels or in stand-alone co-investment vehicles may bear different vehicle-
specific economics. The MLP Funds and other vehicles may have different management and
performance-based compensation arrangements, all of which are described in the applicable offering
documents.

In addition to management fees and carried interest, Private Funds may bear or reimburse
organizational, offering, audit, tax, administration, legal, investor reporting, data room or investor
portal, banking, transaction, custody, valuation and other operating expenses permitted by the
governing documents. Westwood Advisors historically charged primarily direct fund expenses;
beginning in 2026, certain additional categories, including specified travel, marketing and deal-
sourcing expenses, may be allocated to the funds where permitted by the applicable documents and
consistent with Westwood Advisor's expense allocation practices. Westwood Advisors or the
applicable general partner also may waive, reduce or vary fees or expense terms for certain investors
or vehicles, including by side letter. If Westwood Advisors retains Westwood Management or
another affiliate to perform services, compensation to that affiliate generally is paid from the
adviser's or fund's existing fee arrangements and will not result in a duplicative advisory fee unless
disclosed in the applicable fund documents.

Item 7 - Types of Clients
Westwood Advisor's private fund clients and investors generally include high-net-worth individuals,
family offices, private trust clients, institutional investors, endowments, foundations, and, in certain
cases, benefit plan investors or other sophisticated investors that satisfy the standards applicable to
the relevant vehicle.
Minimum commitment or subscription amounts vary by fund, closing and investor category. For
current closed-end vehicles, typical commitments are expected to exceed $250,000, although
Westwood Advisors or the applicable general partner may accept smaller commitments in its
discretion. Certain funds seek to remain below applicable ERISA plan asset thresholds or
otherwise monitor benefit plan investor participation, and investors may be asked to provide
additional representations, updates or transfer restrictions for these purposes.