WindSail Capital Group LLC

Item 5: Fees and Compensation

The fees applicable to each of the Funds are set forth in detail in the corresponding Offering
Documents. A brief summary of such fees is provided below.

Management Fee

WindSail is paid an investment management fee (“Management Fee”) quarterly in advance equal
to one‐fourth (1/4) of one and a half percent (1.5%) of the sum of the net asset value of the Funds as
detailed in governing documents and one-fourth (1/4) of three‐quarters of a percent (.75%) of
unfunded Capital Commitments at the opening of business on the first day of each quarter.

The Investment Manager, in its sole discretion, may waive or modify the Management Fee for any
Investor.

Other Types of Fees or Expenses

WindSail is authorized to incur and pay in the name and on behalf of the Funds all expenses which
they deem necessary or advisable.

The Firm is responsible for and shall pay, or cause to be paid, all of their own ordinary
administrative and overhead expenses, including, without limitation, all costs and expenses related
to rent, furniture, fixtures, equipment, office supplies, clerical expenses and all salaries, bonuses
and benefits paid to, or on behalf of, personnel of the Firm.

Consistent with the Organization Documents of the Funds, each Fund shall pay from their own
funds all other operating costs and expenses including, without limitation, interest, taxes (other than
taxes that are treated as distributed to a Partner pursuant to Section 10.4), custodial fees, brokerage
commissions, research expenses, legal, administrator, accounting, valuation and audit expenses, the
cost of insurance benefiting the Partnership and/or the Investment Manager and filing fees. Any
travel costs to be borne by the Partnership shall not include the cost of private airfare. The
Partnership shall reimburse the General Partner for any operating expenses it pays on behalf of the
Partnership unless the General Partner elects to waive its right to such reimbursement.

In general, each Investor will bear its proportionate share of the Fund expenses on a pro rata basis
with respect to the size of such Investor’s capital account(s) or with respect to the relative net asset
value of the shares held by such Investor, as applicable.

Notwithstanding the foregoing, the Fund’s General Partners and/or the Firm, as applicable, may
specially allocate the expenses described herein in any other manner, including by allocating certain
expenses to certain (but not all) Investors, if the Fund’s General Partners and/or the Firm, as
applicable, reasonably determines, in its discretion, that it is more equitable to do so.

To the extent that expenses to be borne by the Funds are paid by the Firm or its affiliates, the Funds
will reimburse the Firm or its affiliates for such expenses. WindSail may waive any such
reimbursement with respect to any Funds expenses. Any waiver by WindSail for reimbursement of
any Funds expenses shall not serve as a waiver of reimbursement for any future Funds expenses to
be paid by WindSail or its affiliates.

The recipients of this Brochure should refer to the governing documents of the Funds for specific
information about expenses to be borne by each Funds.

The Investment Manager may also receive certain fees from the borrowers, such as a loan
monitoring fee.

Neither the Firm nor its employees accept compensation, including sales charges or service fees,
from any person for the sale of securities or other investment products.

Item 7: Types of Clients

WindSail provides discretionary investment advisory services to the Funds, each a pooled
investment vehicle, and not individually to the Investors in the Funds. The Funds are generally
open to, among others, institutions, pension plans, endowments, high net-worth individuals,
financially sophisticated individuals, and other sophisticated investors.

The Investors in the Funds are each “accredited investors” in reliance upon the exemption from
registration provided by Section 4(2) of the Securities Act of 1933, as amended (the
“Securities Act”), and Regulation D promulgated thereunder and the Investors in certain of the
Private Funds also are “qualified clients”, as such term is defined in Rule 205-3 of the
Investment Advisers Act of 1940 (the “Advisers Act”), as amended. In addition, WindSail
may, in the future, offer investment advisory services to other client accounts or pooled
investment vehicles.