5 conditions, guidelines and limitations set forth in our agreement with each Advisory Account client, and such agreements can be on a discretionary or non-discretionary basis (or a combination thereof). In connection with our advisory services, we typically have the authority and power on behalf of each client to engage, appoint and retain one or more Underlying Managers to manage or provide investment advisory services on a portion of the assets in its Advisory Account, and we may allocate a portion of the assets in such client’s Advisory Account to or among one or more Underlying Accounts managed by Underlying Managers. Underlying Managers generally manage or provide advice with respect to the Advisory Account assets allocated to them by us in accordance with the terms and conditions set forth in the applicable advisory or sub-advisory agreements between us and such Underlying Managers, and we generally are responsible for managing, overseeing, supervising and monitoring the quality and success of the services provided by such Underlying Manager with respect to Advisory Account assets and for managing the overall relationship between such Underlying Managers and our clients. If an Underlying Manager is engaged or retained to manage a portion of the assets in an Advisory Account, such Advisory Account will be required to pay two different advisory fees on the assets managed by such Underlying Manager: (1) an advisory fee payable to us on such assets and (2) an investment management fee payable directly to such Underlying Manager on such assets. Certain Advisory Accounts are managed on a “side-by-side” basis with one or more Funds and/or other types of advisory clients, and invest alongside the Funds in all or certain investments, which raises various actual and potential conflicts of interest. Consulting, Administrative, Financial Planning, Family Office and Other Non-Advisory Services In addition to the services described above, we provide consulting, financial planning, family office, reporting, administrative and other types of non-advisory services to certain persons and entities (including advisory clients) in accordance with the terms, conditions and limitations set forth in the consulting, family office services or other agreements with such persons and entities. Family office services may include, among other things, service provider coordination and communication, general investment and financial education, operational assistance and reporting and account oversight. See Item 8 below. INVESTMENT RESTRICTIONS Funds We provide investment advice and other services to each Fund in accordance with the investment objectives, policies, guidelines and limitations set forth in the applicable offering and governing documents, and not in accordance with the individual needs or objectives of any particular investor in that Fund. Investors generally are not permitted to impose restrictions or limitations on the management of the Funds. Notwithstanding the foregoing, the general partner or managing member of a Fund may in the future enter into side letter agreements or similar arrangements with one or more investors in a Fund that have the effect of establishing rights under, or altering, modifying, waiving or supplementing the terms of, the governing documents of the Fund in respect of such investors. Among other things, these agreements may entitle an investor in a Fund to lower fees, information or transparency rights, most favored nations status, notification rights, rights or terms necessary or advisable in light of particular legal, regulatory or public policy considerations of or related to an investor and/or other preferential rights and terms. Interests in the Funds are privately offered only to eligible investors pursuant to exemptions under the Securities Act of 1933, as amended. Such Funds are not registered with the SEC as investment companies based on specific exclusions from the definition of investment company under the Investment Company Act of 1940, as amended. Advisory Accounts We provide and tailor our investment advice and other services to each of our Advisory Account clients and the applicable terms and conditions set forth in the applicable advisory, consulting or other agreement with such client. Subject to our approval, Advisory Account clients generally may impose reasonable restrictions and limitations on our investment advisory services with respect to their Advisory Accounts. For Advisory Account assets allocated to, and managed by, Underlying Managers, we are responsible for managing and overseeing the overall relationship with such Underlying Managers, the nature and terms of the arrangements or agreements with such Underlying Managers,

the services provided by such Underlying Managers and for monitoring, supervising, reviewing and managing the advice and services provided by such Underlying Managers. In such situations, we provide top-level oversight of each Advisory Account client and such client’s assets and the Underlying Manager’s ability to exercise discretion or authority with respect to the assets allocated to the Underlying Managers and the investment guidelines applicable to the management of Advisory Account assets. Underlying Managers are responsible for managing, generally on a discretionary basis, any assets in Underlying Accounts in accordance with, and pursuant to, the investment guidelines, strategies, limitations, parameters and restrictions set forth in the applicable investment advisory or sub-advisory agreement between us and such Underlying Managers. While we may from time to time refer to our Advisory Account clients as “partner families”, no client will, solely by reason of being an advisory client of CH Investment Partners, have any right or option to participate as a partner or otherwise in the business, investments, activities or profits of CH Investment Partners, its affiliates, our principals or any of our direct or indirect equity owners or related persons. REGULATORY ASSETS UNDER MANAGEMENT As of December 31, 2023, we had approximately $5,096,846,148 in regulatory assets under management, approximately $4,153,129,604 of which was managed on a discretionary basis and approximately $943,716,544 of which was managed or advised on a non-discretionary or limited discretionary basis. FEE SCHEDULES In consideration of our investment advisory, management and other similar services, we and/or our affiliates generally are entitled to receive various types of fees and compensation from or in respect of our clients, including, without limitation, advisory fees, management fees and performance-based compensation. While the specific fees and expenses applicable to each client or Fund is or will be disclosed and described in detail in the applicable offering, account and/or governing documents, a brief overview of our general fee schedule is set forth below. Please refer to the applicable governing, account and offering documents for detailed and accurate information regarding the applicable fees, expenses and compensation that is or may be applicable to a Fund or client. Funds With respect to the Funds, the applicable management fees vary depending upon the class of interests acquired by investors:
• Class A Interests (Advisory Account Clients): Generally, no management fee is charged to or paid by Class A interests at the Fund level. Rather, Class A Interest holders pay fees to us with respect to their interests in the Fund in accordance with the terms of their respective advisory agreements with us. Upon termination of an investment advisory agreement between us and an investor holding Class A Interests, the general partner of a Fund may, in its sole discretion, cause such investor to become subject to management fees at the level of the Fund or take various other actions in respect of such investor. Employees and personnel (and their affiliates) may from time to time receive or be issued Class A interests, which will not be subject to any management or other fees payable to us or any of our affiliates.
• Class B Interests (Non-Advisory Account Clients): We are entitled to receive a management fee, payable quarterly in advance, equal to a percentage of the net asset value of a Class B investor’s capital account, the aggregate capital commitment of that investor or the total invested capital of that investor (as applicable).
• Class C Interests (Certain Employees and Officers and Affiliates): In general, no management fee is charged to Class C Interests at the Fund level. Subject to the terms and conditions set forth in the applicable governing, offering and/or account documents, we receive or are entitled to receive performance-based compensation (including, without limitation and as applicable, carried interest distributions, incentive fees, performance allocations or similar fees) from or with respect to certain Funds and/or certain investors in such Funds. Except as otherwise set forth in the applicable governing or offering documents of a Fund, advisory clients (and holders of Class A Interests) typically are not subject to, or required to pay, performance-based compensation to us or our affiliates in connection with their investments in such Fund. An overview of the performance-based compensation or carried interest distributions payable or distributable to us or an affiliate in respect of a Fund or certain investors in such Fund are set forth below: