White Oak Global Advisors LLC

ITEM 5: FEES AND COMPENSATION

WOGA is generally compensated for its services through the receipt of management and
performance-based compensation. WOGA’s compensation, as well as other costs and
expenses associated with the provision of investment advisory services by WOGA is
discussed generally below and in more detail in relevant offering materials of a Fund or the
applicable Separate Account investment advisory agreement.

A. Compensation
The investment advisory agreements entered into between WOGA and each White Oak
Fund set forth the compensation to be paid to WOGA. The White Oak Funds charge
management fees based on the value of the Fund’s assets under management or on the
amount of the capital commitment of a Fund: generally between 1% and 2. Please refer to
the appropriate Fund offering memorandum for exact fee rates. Asset-based fees for
Separate Accounts are negotiated on an individualized basis, but the management fees
generally are between .95 and 1.75%.

White Oak Clients also are subject to performance-based compensation (which may be
structured as an incentive fee, performance allocation, preferential dividend, or other form)
of 10 - 20% of annual returns of the Client’s portfolio. Calculations are net of management
fee and may include unrealized as well as realized gains and losses. In some cases,
performance-based compensation may be subject to loss carry forwards, hurdle rates,
and/or high water marks, as described below in Item 6. Please refer to the relevant offering
materials of a Fund or the applicable Separate Account investment advisory agreement for
further detail on performance-based compensation arrangements. WOGA receives
performance fees directly from the Separate Accounts pursuant to the negotiated terms of
investment advisory agreements. Performance-based compensation paid or allocated by
the White Oak Funds are received by WOGA or its affiliates, including the respective
general partner to White Oak’s various Funds (collectively, the “General Partners”).
Performance-based compensation is discussed in more detail in Item 6 of this Brochure.
Other General partners may be formed in the future for additional Clients.

Fees for future White Oak Clients may vary. Fees may be negotiable and WOGA may, in its
discretion, waive or reduce management and performance fees charged to particular
Clients or Investors.

With respect to the Cash Management Strategy, Clients are charged, typically in arrears, a
fee rate based on the month-end or quarter-end market value (i.e., the Separate Account’s
net asset value) generally between 0.12% per annum and 0.25% per annum. There is no
performance-based compensation associated with this service.

With the exception of Management Fees charged on a committed capital basis, most Client
Management and Performance Fees or Allocations (as applicable) are determined based
upon the valuation of the underlying assets of such Client. See generally “Valuation Risks”

in Item 8.D below. Certain clients pay internal administration and loan servicing fees based
on gross commitment.

B. Different Fee Schedules
WOGA’s (or the General Partner’s, as applicable) Management Fees and Performance Fees
or Allocations, as applicable, are waived with respect to WOPFI, certain proprietary
accounts that invest exclusively in the White Oak Funds, and certain large or strategic
investors or accounts, or funds whose investors include WOGA personnel, their family,
WOGA affiliates, and the personnel of WOGA affiliates. In addition, WOGA may discount or
waive its fees with respect to any investor for any particular period of time at the sole
discretion of WOGA (or the General Partner, as applicable). This discounted rate or waiver is
not generally available to investors in the Funds. Investments by an investor made through
multiple White Oak Funds and/or Separately Managed Accounts may be aggregated in
determining the management and performance-based fee applicable to such investor.
Likewise, investors investing through a common advisor or consultant may be aggregated
in determining the management and performance-based fee applicable to such investors.

C. Side Letters
WOGA or the General Partner, as applicable, has, and likely will continue to do so in the
future, waive or modify the terms of investment for certain large or strategic investors, in
side letters or otherwise, in its sole discretion, including but not necessarily limited to, a
waiver or lowering of the Management or Performance Fees or fee structure. We may also
agree to increased transparency or reporting though we would typically provide similar
increased transparency and/or reporting to other investors upon their request.

D. Billing and Transaction Fees
Management Fees are automatically deducted from the accounts of Fund Investors.
Separate Account Clients are billed for fees incurred. Management fees generally will be
calculated and payable to WOGA quarterly in advance. Clients of WOGA’s Cash
Management Strategy are also billed for fees incurred, but they have the option of having
management fees automatically deducted from their Separate Accounts. With respect to
the Cash Management Strategy, Management Fees may be paid quarterly or monthly, in
advance or in arrears, as agreed with the Client.

For some of the White Oak Funds, performance-based compensation is calculated at the
end of the relevant one-year period and is payable in arrears. In addition, some White Oak
Funds are structured as private equity-like term vehicles with carried interest or incentive
fees payable upon realization of assets above a certain hurdle or preferred return rate. With
respect to non-Cash-Management Separate Accounts, incentive fees are payable in arrears
and calculated annually at individually negotiated times as detailed in the investment
management agreement for each such Client.

Transaction Fees Earned. To the extent that WOGA or, as applicable, a General Partner,
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ITEM 7: TYPES OF CLIENTS

WOGA provides investment advice to White Oak Clients, which consists predominantly of
the Direct Lending Strategy, as discussed above in Item 4. WOGA also provides investment
advice to Clients that are institutions using the Firm’s Cash Management Strategy, and to
WOPFI, as described in Item 4. WOGA also manages portfolios of instruments that are not
securities, such as bank-issued certificates of deposit and bank cash deposits, on behalf of
Clients that are individuals.

Investors in the White Oak Funds may include pension funds, insurance companies, private
banks, foundations, endowments, trusts, family offices, high net worth individuals, private
investment funds, and other institutions. As noted in Item 4, above, certain other investors
include past and present WOGA personnel, their family, and the personnel of WOGA
affiliates. Except as otherwise agreed with WOGA, Investors are not clients of WOGA.

The minimum dollar amount of assets generally required for establishment of a Separate
Account following the Direct Lending Strategy is $50,000,000. The minimum investment
required for the Cash Management Strategy is generally $3,000,000. Smaller amounts may
be accepted in either instance if deemed appropriate by the Firm.

Smaller amounts than those listed above may be accepted for any product on an
accommodation basis or when it is deemed likely that the minimum dollar size will be
achieved within a reasonable period of time.

Clients should be aware that if a particular Separate Account is too small, it is possible that
the Separate Account may be unable to participate in certain investments due to a lack of
available investment capital. For additional information about Investment Allocation for
Clients, see Item 16 – Investment Discretion.

For restrictions on investments in the White Oak Funds, including minimum investments,
please see the relevant Fund’s offering materials.

Please also see the discussion in Item 4, Section C – Tailored Advice and Client-Imposed
Restrictions concerning the White Oak Funds.