Alumni Ventures Professional-Grade Venture Portfolios Unlocking Your Financial Potential with Alumni Ventures | 11 Management Fees AV charges an amount equivalent to a 2% annual management fee for the fund’s 10-year term. The fund collects and typically pays to AV the entire amount — 20% of the capital commitment — up front. We recognize that many of our investors are not familiar with this type of fee structure. We offer our investors the type of professional-grade access to venture investing that institutions get, but we have designed our fee structure to be more advanta- geous than many venture capital firms over the long run.18 AV Traditional Venture Management Fees19 20% 20%, up to 30% Profit Sharing20 20% 20%, up to 30% Additional Fund Costs21 No Yes 3. Fees & Profit Sharing Alumni Ventures, like many other investment firms, earns revenue primarily from two sources: Management Fees and Profit Sharing. The following provides brief summaries. For more information, please visit our detailed Fees & Profit Sharing document. Fees Go Towards: Performance • Getting into elite deals and delivering strong performance • Constructing portfolios that meet the thoughtful strategy of each fund • Maintaining a staff of ~40 investment professionals to source and review thousands of deals each year • Rigorous diligence leading to investments in several hundred portfolio companies per year • Monitoring our growing list of 1,100+ portfolio companies for opportunities to make follow-on investments into our highest performers Fund Organization and Administration • All expenses incurred in creating and offering the funds, including all ordi- nary legal costs and regulatory filing fees • Quarterly financial fund reporting updates, exit memos, and fund distribu- tions • Semiannual Investor Reports • Production of all required tax documentation via Schedule K-1s • Personalized Portfolio News Feed • 24/7 online & secure Investor Portal Education & Engagement • Special opportunities to engage with Founders & other investors • In-person events held at our five offices across the US • Optional participation in our Expert Network SOURCE: CoreSignal, March 2022 18 For additional information, please see av-funds.com/disclosures. 19 While AV charges the full 20% up front, traditional venture firms typically 2% per year for a 10-year fund. 20 Traditional venture often utilizes “fund carry” while AV utilizes both fund carry and “deal carry.” For more information, please see our fees & profit sharing policy. 21 Traditionally many venture capital funds have typically paid organizational and operational expenses out of fund assets, and these hidden fees can materially degrade fund performance. Unlike this traditional model, AV typically pays all of these types of expenses out of its management fees, which can materially benefit fund performance.