Bain Capital Ventures

For purposes of this brochure, unless otherwise noted, the “Advisers” mean (i) Bain Capital Ventures, LP (“Bain Capital Ventures”) a Delaware limited partnership and (ii) Bain Capital Crypto, LP (“Bain Capital Crypto”) a Delaware limited partnership each of which are wholly owned by Bain Capital, LP (“Bain Capital”). The Advisers provide investment advisory services to pooled investment vehicles that are exempt from registration under the Investment Company Act of 1940, as amended (the “1940 Act”) and whose securities are not registered under the Securities Act of 1933, as amended (the “Securities Act”). As the investment advisers of the Bain Capital Ventures Funds and Bain Capital Crypto Funds (collectively, the “Funds”), the Advisers, along with the General Partners of the Funds (“General Partner” and collectively the “General Partners”), identify investment opportunities for, and participate in the acquisition, management, monitoring and disposition of investments of, each applicable Fund. Each Adviser operates its business as follows: (1) Bain Capital Ventures is stage agnostic investing in software, hardware, information, digital media, internet, healthcare, technology-driven business services companies and digital assets. Such investments take the form of privately negotiated investment instruments including unregistered equity from both U.S. and non-U.S. issuers and other investments, including investments in partnerships, consistent with the respective Fund’s investment strategy and objectives. (2) Bain Capital Crypto’s strategy is to primarily pursue investments in core infrastructure (smart contract platforms, smart contract scaling solutions and associated middleware), decentralized finance and programmable money, emerging technologies (privacy, identity, security) and adjacent equity investments in companies that provide infrastructure for the crypto asset class. The Advisers provide investment advisory services to each of the Funds pursuant to separate investment and advisory agreements (each, an “Advisory Agreement”). Investment advice is provided by the Advisers directly to the Funds, subject to the direction and control of the General Partner of such Fund and not individually to the investors in the Funds. Any restrictions on investments in certain types of securities, are established by the General Partner of the applicable Fund, and are set forth in the documentation received by each limited partner prior to investment in such Fund. Once invested in a Fund, investors cannot impose restrictions on the types of securities in which such Fund may invest. Currently there are no restrictions on the types of securities in which a Fund may invest.

Bain Capital Ventures has been in business since 2000. As of December 31, 2025, Bain Capital Ventures and Bain Capital Crypto collectively managed approximately $9,837,931,000 1 of client assets, all of which is managed on a discretionary1 basis.

As compensation for investment advisory services rendered to the Funds, the Advisers receive from each Fund an annual management fee payable quarterly in advance. Management fees paid by a Fund are indirectly borne by the limited partners in such Fund. The precise amount, and the manner and calculation of, the management fee for each Fund is established by the Advisers and is set forth in such Fund’s Advisory Agreement, limited partnership agreement (or analogous organizational document) and/or other documentation received by each limited partner prior to investment in such Fund. Fees may differ from one Fund to another, as well as among limited partners in the same Fund. Upon the termination of an Advisory Agreement, appropriate treatment, including, where applicable, returning prepaid management fees on a prorated basis, will be given to all management fees collected in advance. As described below, the management fee may be reduced in some circumstances in connection with the receipt by the Advisers or their related persons of various fees paid by actual or prospective portfolio companies. The management fee is generally subject to waiver or reduction by the Advisers in their sole discretion, including in connection with investments made by the General Partners or its related persons. The fee structures described above may be modified from time to time. To the extent not paid by portfolio companies or other investment vehicles, a Fund shall bear its expenses, which shall generally include the expenses set forth below. Expenses born by a Fund may vary among the Funds. Please refer to the limited partnership agreement (or analogous organizational document) of the applicable Fund for details regarding the practices of such Fund. (a) all investment-related expenses (in each case, including with respect to investments in any platform companies or add-on acquisitions), including expenses relating to identifying (including any finder’s fees), evaluating, valuing, researching, investigating, structuring, diligencing, monitoring, hedging, purchasing, holding, selling (or potentially selling), refinancing (including any brokerage fees or expenses), or restructuring investments and potential investments (whether or not completed) (including lodging, travel, transportation, (including the use of first class or business class travel), meals, entertainment and other similar expenses relating to the foregoing) The Adviser does not have ultimate investment discretion with respect to the assets of any Fund, as such discretion is retained by the applicable General Partner of each Fund.

and expenses related to acquiring, developing, implementing or maintaining related software; (b) all expenses of a Fund incurred in connection with the ongoing operation and administration of a Fund, including any legal, tax, auditing, accounting, domiciliation, consulting fees, Environmental, Social, and Governance (“ESG”), procurement, technology, cybersecurity, bookkeeping, record keeping and clerical services to a Fund (in each case, whether performed by internal staff of the Advisers or the applicable Fund's General Partners, affiliates of or entities established by the Advisers or the applicable General Partners or by third parties, and expenses related to acquiring developing, implementing or maintaining related software; provided that for certain Funds, the amount charged to such Fund for such services by internal staff may be subject to a cap); (c) all financing fees, taxes and expenses associated with a Fund’s financial statements or tax reporting (including fees and expenses associated with preparing tax information, returns, elections, investigations, settlements, reviews and audits); expenses incurred in connection with the preparation and maintenance of a Fund’s books and records, account holder diligence or the preparation and delivery of wires, financial and other reports, circulars, forms, notices, valuations, investment summaries and other information (including courier and delivery expenses); expenses incurred as the Fund’s representative in connection with the applicable Fund and expenses incurred in connection with the dissolution and liquidation of such Fund; (d) expenses and fees of any administrator, depositary and/or custodian; (e) all fees, costs and expenses (which may be paid as a retainer, consulting fee (e.g., time and materials), incentive compensation (such as a bonus or success fee, an equity incentive or a profit participation), or as guaranteed minimum compensation) of professionals (including industry executives, advisors, consultants (including operating and sourcing consultants), operating executives, subject matter experts or other persons acting in a similar capacity) who provide services to a Fund and/or its portfolio companies, including services related to the development of investment theses and investment opportunities in a given sector or deal analyses (in each case which services may, for the avoidance of doubt, be provided prior to the commencement of an investment); (f) research expenses (e.g., news and quotation subscriptions and market research, conference expenses (including related travel and other expenses of a category identified in clause (a) above) related to developing potential investment ideas (including senior managers or other employees of Bain Capital Ventures, portfolio companies or other industry executives attending and/or hosting conferences and networking events organized by Bain Capital Ventures and/or portfolio companies), trends and themes within industries,

sectors or geographies), information technology expenses (including technology service providers) and expenses related to acquiring, developing, implementing or maintaining related software; (g) all fees, expenses and costs in connection with any legal and/or regulatory compliance (including anti-financial crime compliance), participation in or costs arising from any law or regulation or industry initiatives concerning ESG compliance, data collection, reporting or other best practice, and any government and/or regulatory filings related to a Fund or the offering of interests in a Fund (including regulatory filings of the General Partner, Bain Capital Ventures and their affiliates relating to a Fund), including, without limitation, any filings in connection with the AIFMD or the AIFM Law whether, for the avoidance of doubt, they are incurred once or on a periodic basis during the life of the Funds; (h) all expenses related to advisory board meetings (including travel and other expenses) and costs and expenses incurred in relation to obtaining consents or approvals of a Fund’s limited partners or the advisory board; (i) any costs, losses, damages or other expenses relating to any warranties or indemnities given by a Fund in relation to any investments, including where a claim has been made in respect of such warranties or indemnities; (j) all costs of all subsidiaries, Alternative Investment Vehicles (“AIVs”) and other vehicles and special purpose entities through which investments are held or managed, including costs associated with establishing and administering such entities, admitting limited partners thereto, establishing, changing or maintaining a residence in certain jurisdictions (such as rent for office space, related overhead, board of directors expenses and employee salaries and benefits) and winding up and dissolution of such entities; (k) all costs and expenses incurred in connection with the preparation of amendments to the applicable agreement or other documentation of a Fund; (l) all costs and expenses incurred in connection with or incidental to the incurrence or refinancing of any credit facility, net asset value loans, or other indebtedness, guarantees by or other obligations of a Fund; (m) the management fee; (n) offering expenses (including for services performed either by internal staff of Bain Capital Ventures or the General Partners, affiliates of or entities established by Bain Capital Ventures or the General Partners or by third parties) up to the offering expenses cap; (o) costs and expenses of administering and complying with side letters entered into with a Fund’s limited partner (including the process of distributing and

implementing applicable elections pursuant to any “most-favored nations” clauses in side letters and any Environmental, Social, and Governance obligations or other standards, including compliance and reporting); (p) all reasonable lodging, travel transportation (including the use of first class or business class travel), meals, entertainment and other similar expenses relating to the foregoing incurred in connection with a Fund’s affairs; (q) all out-of-pocket expenses incurred in connection with the collection of amounts due to a Fund from any person; (r) all expenses incurred in connection with the obtaining and maintaining of insurance policies by or on behalf of a Fund, investments of a Fund (unless borne by the relevant portfolio company), Bain Capital Ventures, a Fund’s General Partner, Bain Capital Ventures related affiliates and/or the advisory board, with respect to a Fund, including the allocable portion of any insurance policies that provide such Fund GPs and/or Bain Capital Ventures and/or its respective affiliates, with coverage covering multiple funds, personnel or liabilities, including with respect to such Fund; (s) all expenses incurred in connection with a purchase, sale, assignment, pledge or transfer of a Fund limited partner’s interest in a Fund or the withdrawal or termination of a Fund’s limited partner (but only to the extent not paid by the applicable purchaser or a Fund limited partner, assignee, pledgee or transferee, as the case may be); (t) all costs and expenses associated with a defaulting Fund limited partner (but only to the extent not paid by the applicable defaulting Fund limited partner); (u) any taxes, or any expenses, penalties or liabilities which are not allocated to one or more Fund limited partners; (v) all expenses incurred in connection with any proceeding involving a Fund (including the cost of any investigation and preparation) and the amount of any judgment, fine or settlement paid in connection therewith; (w) all indemnification obligations and any other indemnity, contribution, or reimbursement obligations of a Fund with respect to any person, whether payable in connection with a proceeding involving such Fund or otherwise (collectively, “Fund Expenses”); (x) to the extent not covered by (a)-(w) above, all costs, fees and expenses incurred in connection with the making, holding or disposition of Digital Assets (including without limitation any costs, fees or expenses relating to digital or other currency exchange (e.g., blockchain-related transaction or related fees); transfers, voting, staking or other protocol operations; hardware or physical

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Bain Capital Ventures. Bain Capital Ventures’ strategy is stage-agnostic investing in venture and growth-stage companies in a core set of industry verticals. Bain Capital Ventures provides significant ongoing strategic and operational support to companies, particularly in the form of go-to-market and team building expertise. The Bain Capital Ventures Funds focus on targeted segments of enterprise software and technology-enabled services, including application software, commerce technology, financial technology, infrastructure software and security software. In select cases, the Bain Capital Ventures Funds also invest in opportunistic areas. Bain Capital Ventures does not proactively target a certain percentage of the Bain Capital Ventures Funds toward a particular mix of sectors or stages, but instead invests across a wide range of sectors and stages. Bain Capital Crypto. Bain Capital Crypto’s strategy is to primarily pursue investments in core infrastructure (smart contract platforms, smart contract scaling solutions and associated middleware), decentralized finance and programmable money, emerging technologies (privacy, identity, security) and adjacent equity investments in companies that provide infrastructure for the crypto asset class. Bain Capital Crypto’s strategy is modeled on a value-additive approach that develops deep understanding for the underlying technology and ecosystem.

The Bain Capital Crypto Funds target investments in companies or tokens through minority positions that are aligned with existing stakeholders, and seek to take an active role in driving growth and strategy through engagement with management teams and developer communities. The Bain Capital Crypto Funds may also make investments through open market purchases of public tokens, including for the purpose of establishing core fund positions or increasing exposure to existing investments. Risks Investing in securities involves a substantial degree of risk. A Fund may lose all or a substantial portion of its investments, and investors in the Funds must be prepared to bear the risk of loss of their investments therein. Different risks may exist with respect to investments in different Funds. The risks associated with an investment in any particular Fund may be substantially impacted by the nature and timing of the market. In addition, material risks relating to the investment strategies and methods of analysis described above, and to the types of securities typically purchased by the Funds in connection with those strategies and methods, include the following:

Risks Related to Investing in a Private Fund Illiquid, Long-Term Investment An investment in a Fund is speculative and volatile, requiring a long-term commitment with no certainty of return. The Funds may make investments in companies that are in a conceptual or early stage of development. These companies may have no proven operating history on which to judge future performance, little or no profits or cash flow, uncertain market acceptance and a high degree of regulatory risk. In most cases, a Fund’s investments will be long-term in nature and are expected to require many years from the date of investment to the date of disposition. During that time, a portfolio investment may not distribute any dividends, royalties or other income to a Fund, and, as a result, investors should not expect to receive any distributions from a Fund for an extended period of time. A Fund’s investments are considered highly speculative and may result in the loss of a Fund’s entire investment. Because a Fund may only make a limited number of investments and because many of a Fund’s investments may involve a high degree of risk, poor performance by a few of the investments could significantly reduce the total returns to the limited partners.

Nature of Investments The securities in which the Funds will invest will generally be among the most junior in a portfolio company’s capital structure, and thus subject to the greatest risk of

loss. The Funds’ investments will generally be in minority positions in portfolio companies, in many cases without power individually to exert significant control over such portfolio companies’ boards of directors and management, although the Funds may also purchase a majority position of the securities of a portfolio company. While a Fund may seek to get the appropriate governance and exit rights at the time of making a minority investment, there may be instances in which a Fund may not be able to exercise control over such portfolio company. In addition, in certain situations, including where the businesses are in bankruptcy or undergoing a reorganization, minority investors may be subject to the decisions taken by majority investors, and the outcome of a Fund’s investment may depend on such majority-controlled decisions, which decisions may not be consistent with a Fund’s objectives. Generally, the Funds’ portfolio companies will be at a relatively early stage of development, thus entailing significant operating risk and financing risk, although the Funds may also invest in portfolio companies in later development stages. In addition, the Funds are expected to make investments in Digital Assets, including direct investments in Digital Assets and agreements for future tokens. Such investments in Digital Assets may frequently be made in foreign jurisdictions, where the regulatory landscape concerning Digital Assets is uncertain and may vary widely between such jurisdictions. Furthermore, Investments in Digital Assets offer no statutory stockholder protections and may lack typical investor protections altogether.

Reliance on an Adviser An investor must rely on the Advisers’ ability to identify and make investments consistent with the Funds’ investment objectives and policies. In addition, investors will generally not have an opportunity to evaluate the relevant economic, financial or other information regarding specific investments to be made by the Funds or the terms of any investment ahead of that investment being made. The Advisers may be unable to find a sufficient number of attractive opportunities to fully invest the Funds’ committed capital or meet their investment objectives. Further, there can be no assurance that what the General Partners or the Advisers perceive as an attractive investment opportunity will not, in fact, result in substantial losses due to one or more of a wide variety of factors. In addition, there is no expectation that allocations of investment opportunities will be made pro rata as between a Fund, a Co-investment Fund and other Related Funds and any such allocation determinations will be made in accordance with the factors described herein. While the Management Company intends to collaborate with other Affiliate Advisers (as defined below), there is no guarantee that it will be successful in doing so or that such collaboration will benefit the Funds. Investors have no right or power to take part in the management of the Funds. Investors will not receive the detailed financial information issued by portfolio companies which is available to the General Partners and the Advisers. Accordingly, no person or entity should purchase limited

partnership interests unless such person or entity is willing to entrust all aspects of the management of the Funds to the General Partners and the Advisers. The loss of the services of one or more of the members of the professional staff of the Advisers could have an adverse impact on the Funds’ ability to realize their investment objective. In addition, it is expected that all of the officers and employees responsible for managing or advising the Funds will continue to have responsibilities with respect to other funds, accounts and investments managed and advised by the Advisers. Thus, such persons will have demands made on their time for the investment, monitoring, exit strategy and other functions of other funds and accounts. In addition, the limited partnership agreement and the investor management agreement will limit the circumstances under which the General Partners, the Advisers and their respective affiliates can be held liable to the Funds. As a result, limited partners may have a more limited right of action in certain cases than they would in the absence of such provisions.

Senior Advisors and Third Party Service Providers The Advisers will retain third parties (which include former employees of the General Partners, the Advisers or their respective affiliates) to provide services in relation to the Funds’ investment activities, underlying investments, and/or operations of a Fund or its portfolio companies. In particular, Third Party Service Provider senior advisors are expected to be retained to provide sourcing, consulting or advisory services, including services related to the development of investment theses and investment opportunities in a given sector or deal analyses (in each case, services may, for the avoidance of doubt, be provided prior to the commencement of an offering or investment). Additional third-party consultants, legal advisors, accountants, investment banks and/or others are expected to be retained to assist in the investment due diligence process to varying degrees depending on the particular investment. In addition, the General Partners and the Advisers may retain one or more individuals in connection with sourcing investments for a Fund, establishing platforms for investments, operating portfolio companies or providing other similar services (such individuals, senior advisors, and other third-party experts, advisors or consultants, “Third Party Service Providers”). In addition to Third Party Service Providers, the General Partners and/or the Advisers will, from time to time, engage other operating professionals, including third-party consultants and/or employees or former employees of the General Partners, the Advisers and their respective affiliates. The involvement of Third Party Service Providers may present a number of risks primarily relating to the General Partner's reduced control of the functions that are outsourced. In addition, Third Party Service Providers may not have requirements on the time and attention they devote to the Funds, their activities or their investments. The Advisers may rely on the findings of Third Party Service Providers in making offering investment and/or management decisions. Bain Capital and the

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Bain Capital Ventures currently provides investment advisory services to the Bain Capital Venture Funds. Bain Capital Crypto currently provides investment advisory services to the Bain Capital Crypto Funds. Investment advice is provided directly to the Funds, subject to the direction and control of the General Partner of such Fund, and not individually to the limited partners of such Funds. Interests in the Funds are offered pursuant to applicable exemptions from registration under the Securities Act and the 1940 Act. Investors in the Funds include high net worth individuals, banks, thrift institutions, pension and profitsharing plans, sovereign wealth funds, trusts, estates, charitable organizations, university endowments, corporations, limited partnerships and limited liability companies or other business entities. Although the Advisers do not impose minimum dollar values on creating a Fund, legal eligibility requirements must be met. Minimum investment commitments may be established for limited partners in the Funds. The General Partner of each Fund, in its sole discretion, may permit investments that are less than the minimum investment commitment set forth in the applicable fund documents of a Fund.

A portion of each Fund’s net investment profit is allocated to the capital account of its General Partners or Special Limited Partner as “carried interest.” Each General Partner or Special Limited Partner of a Fund is a related person of the Advisers. References to General Partner in relation to carried interest for purpose of this document include any Special Limited Partner created for applicable Funds. Carried interest may differ from one Fund to another. The payment by Funds of carried interest at varying rates (including varying effective rates based on the past performance of a Fund) may create an incentive for the Advisers to disproportionately allocate time, services or functions to Funds paying carried interest at a higher rate or allocate investment opportunities to such Funds. Generally, and except as may be otherwise set forth in the partnership agreements of the Funds, this conflict is mitigated by (i) certain limitations on the ability of the Advisers to establish new investment funds, (ii) contractual provisions requiring certain Funds to purchase and sell investments contemporaneously and/or (iii) contractual provisions and procedures setting forth investment allocation requirements. Please also see Item 10 below regarding allocation for additional information relating to how conflicts of interest are generally addressed by the Advisers.

Related General Partners Various entities serve as General Partners of the Funds, and Bain Capital Venture Investors, LLC is the General Partner or serves in a similar capacity of each of the General Partners. Affiliated Advisers Bain Capital Ventures has several affiliated advisers based in the U.S., each of which focuses primarily on a different area of investment management, although such areas may overlap from time to time (such advisers, together with the Advisers, the “U.S. Affiliate Advisers”). Each U.S. Affiliate Adviser is registered as an investment adviser with the SEC. The U.S. Affiliate Advisers currently include, in addition to the Advisers: -

Bain Capital Asset Management, LP, (“BCAM”) which focuses on providing alternative investment opportunities to current and former personnel of Bain Capital and invests primarily in third party private fund managers via managed funds of funds and direct investments. In addition, BCAM related persons also serve as the General Partners to investment vehicles whose primary purpose is to invest in, or coinvest with, funds managed by the Advisers and other Affiliate Advisers (as defined below) for the benefit of employees and former employees of Bain Capital, LP and its affiliates. BCAM also provides certain advisory services to insurance company clients and subadvises insurance dedicated funds;

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Bain Capital Credit, LP which uses fundamental credit analysis to identify attractive investment opportunities and seeks strong risk adjusted returns, primarily in credit products and fixed-income investments;

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Bain Capital Double Impact, LP, which focuses on equity investing in impactor mission-oriented companies and more traditional companies with positive impact products and services;

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Bain Capital Insurance Solutions, LP, which advises private funds focused on investing in insurance companies, subadvises insurance dedicated funds and provides certain advisory services to insurance companies;

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Bain Capital Life Sciences, LP, which focuses on equity investing in biopharmaceutical, medical device, diagnostics and enabling life science technology companies;

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Bain Capital Private Equity, LP, which focuses on leveraged buyouts and growth capital in a wide variety of industries;

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Bain Capital Special Situations, LP, whose primary investment objective is to invest across all market cycles, combining credit, equity, corporate and real asset expertise to partner where other providers may not;

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Bain Capital Real Estate, LP, whose primary objective is to research and advise on real estate and real estate-related investments;

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Bain Capital Tech Opportunities, LP, which focuses on equity investing in technology and technology-enabled companies;

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BCPC Advisors, LP, a subsidiary of Bain Capital Credit, LP, which is an investment adviser to business development companies and a sub-adviser to registered investment companies

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BCSF Advisors, LP, a subsidiary of Bain Capital Credit, LP, which is an investment adviser to business development companies and a sub-adviser to registered investment companies; and

In addition to the U.S. Affiliate Advisers, Asset Resurgence Mauritius Manager, Bain Capital (Singapore) Pte. Ltd., Bain Capital (UK) Limited, Bain Capital Advisors (India) Pvt. Ltd., Bain Capital Asset Manager Mauritius, Bain Capital Hong Kong Ltd., Bain Capital Credit (Australia) Pty. Ltd., Bain Capital Credit, Ltd., Bain Capital Investments (Europe) Ltd., Bain Capital Investments (Ireland) Ltd., Bain Capital Investments (Luxembourg) Sarl, Bain Capital Private Equity (Asia) Ltd., Bain Capital Private Equity (Europe), LLP, Bain Capital (Japan), LLC, and India Resurgence Asset Management Business Pvt. Ltd., affiliates of Bain Capital, are licensed in their applicable jurisdictions with various regulators (together with the U.S. Affiliate Advisers, the “Affiliate Advisers”). Each of the Affiliate Advisers’ investment activities are conducted independently, but the Affiliate Advisers may provide an extensive personal network and access to vertical industry expertise. On occasion, the Funds may also benefit from attractive non-traditional investment opportunities from Affiliate Advisers. Bain Capital has established other non-investment advisory related entities which are affiliates of the U.S. Affiliate Advisers. These entities do not provide investment

advisory services and have been organized primarily to provide services incidental to the services of the U.S. Affiliate Advisers, such as servicing portfolio companies of the Funds (as described below). Affiliated Broker-Dealer Bain Capital Markets, LLC, is an affiliated broker-dealer registered with the SEC and is a member of FINRA. Bain Capital Markets places securities and instruments issued by certain private investment funds that the Advisers and their affiliates manage and provides certain Capital Markets Services (as defined below) for certain portfolio companies of such private investment funds. Affiliated Insurance Business Federal Life Group, Inc. (together with its subsidiaries, “Federal Life”) is an insurance carrier that provides life, health, and annuity products across individual and institutional markets. Conflicts of Interest The discussion below reflects both historical and current practices of the Advisers and the Funds and practices vary among the Funds. Please refer to the limited partnership agreement (or analogous organizational document) of the applicable Fund for details regarding the practices of such Fund. As a diversified private investment firm, Bain Capital and its affiliates, including the Advisers, engage in a broad range of activities, including investment activities for their own account (such as internal co-investment vehicles and/or other internal investment vehicles) and for the account of other investment funds or accounts, in addition to providing investment banking, advisory, management and other services to funds and operating companies, including portfolio companies of the Funds. Bain Capital currently has several affiliated advisers, (including the Advisers, the “Affiliate Advisers”), each of which focuses primarily on a different investment strategy, although such investment strategies overlap from time to time. The funds and accounts advised or managed by the Advisers from time to time are referred to as the “Funds” and the funds and accounts advised or managed by the Affiliate Advisers (including the Funds), which include internal investment vehicles of Bain Capital, are referred to as the “Related Funds.” In the ordinary course of conducting its activities, the interests of a Fund or its limited partners will, on occasion, conflict with the interests of the Advisers, or their affiliates or with one or more other Related Funds or their respective affiliates. Additionally, the Advisers have in the past and may in the future establish certain investment vehicles through which certain personnel of the Advisers or their

affiliates, or other persons invest alongside one or more Funds in one or more investment opportunities. Such vehicles, referred to herein as “co-investment vehicles,” generally are created to purchase and sell each investment opportunity at substantially the same time and on substantially the same terms as the applicable Fund that is invested in such investment opportunity. Such co-investment vehicles generally do not pay management fees or carried interest. A Fund may enter into loan agreements, guarantees and/or commitment letters on behalf of one or more co-investment vehicles, and if such co-investment vehicle fails to meet its obligations relating to such loan agreements, guarantees or commitment letters, any amounts owed as a result of such failure will be borne by such Fund. Certain personnel of the Affiliate Advisers also invest in, or alongside one or more Funds through a co-investment vehicle. Conflicts may arise to the extent such personnel manage other Related Funds, the interests of which conflict with those of the Funds. The following discussion describes certain potential conflicts of interest that exist among Bain Capital, the Funds, the Advisers, the Affiliate Advisers, and the other Related Funds. Certain conflicts of interest which may be relevant to an investment in a particular Fund are described generally with respect to a Fund or a Related Fund. Dealing with conflicts of interest is complex and difficult and new and different types of conflicts may subsequently arise. While the Advisers have adopted procedures to address such conflicts, no assurance can be made that these procedures will have their desired effect. There may be certain situations where the organizational and administrative arrangements established by the Advisers will not be sufficient to ensure, with reasonable confidence, that risks of damage to the interests of the Advisers, the Funds and of the limited partners will be prevented. There can be no assurance that Bain Capital or the Advisers will be able to resolve all conflicts in a manner that is favorable to the Funds. Resolution of Conflicts Each of the Advisers and the Affiliate Advisers will deal with all conflicts of interest using its best judgment, but in its sole discretion. When conflicts arise among investment funds or accounts advised or managed by Affiliate Advisers, the Advisers will represent the interests of the Adviser’s Funds, and the participating Affiliate Advisers will represent the interests of the investment funds or accounts they advise. In resolving conflicts, the Advisers and Affiliate Advisers will generally consider various factors, including the interests of the Funds and the other Related Funds they advise in the context of both the immediate issue at hand and the longer-term course of dealing among the Funds and the other Related Funds. From time to time, the Adviser and the Affiliate Advisers may determine to refer certain conflicts of interest to the Allocation Committee for review and resolution, particularly in situations where the Adviser and the Affiliate Advisers are unable to resolve such conflicts. Similarly, the Allocation Committee may in its sole discretion determine to review and make determinations regarding certain conflicts of interest.

When conflicts arise between the Funds, the Advisers will resolve the conflict. In doing so, the Advisers will generally consider various factors, including the interests of each Fund involved with respect to the immediate issue and/or with respect to the longer-term course of dealing among the Funds. In the case of all conflicts involving the Funds amongst one another, the Advisers’ determination as to which factors are relevant, and the resolution of such conflicts will be made in the Advisers’ sole discretion except as required by the governing documents of the Funds. There can be no assurance that the Advisers will be able to resolve all conflicts in a manner favorable to a Fund. Sources of Conflict of Interest The conflicts of interest encountered by a Fund include those discussed below, although the discussion below does not describe all of the conflicts that may be faced by the Funds. Other conflicts are disclosed throughout this document, and this document should be read in its entirety for other conflicts.

Conflicts Relating to the General Partners of the Funds and Bain Capital Ventures Adviser Personnel; Allocation of Time Personnel of the Advisers responsible for managing a particular Fund will have responsibilities with respect to other Funds, including funds and accounts that will be raised in the future, as well as to the investments of such Funds and/or Related Funds. Substantial time will be spent by such officers and employees monitoring the investments of other Funds and/or Related Funds. Conflicts of interest may arise in allocating time, services or functions of such personnel. Advisor personnel have an incentive to allocate more time, services or functions to the Funds from which such personnel derive a higher economic benefit. Certain members of a Fund’s investment committee could also serve on the investment committee of other Affiliate Advisers. Such individuals will have responsibilities to such other Affiliate Advisers and with respect to other current or future Related Funds advised or managed by such Affiliate Advisers, including funds or accounts that may be eligible to invest in assets eligible for purchase by the Funds, as well as to the portfolio companies and investment activities of such Related Funds. Such personnel may have restrictions on the time and attention they devote to the Funds as a result of the requirements contained in the limited partnership agreements (or other analogous organizational documents) of the other Related Funds or otherwise. Conflicts of interest may arise in allocating time, services or functions of such personnel. From time to time, members of a Fund’s investment committee may face conflicts

of interest in making investment decisions with respect to the Funds due to their membership on such investment committee, on the one hand, and their obligations to other Affiliate Advisers or other Related Funds advised or managed by other Affiliate Advisers, on the other hand. Such conflicts of interests may result in decisions that are not exclusively in the interest of a Fund. Certain decisions may be more beneficial to another Related Fund than they are to the Funds. There is no guarantee that the policies and procedures adopted by a Fund, the terms and conditions of the limited partnership agreements (or analogous organizational documents) or the policies and procedures adopted by the Affiliate Advisers’ investment committee will enable a Fund to identify, adequately address or mitigate these conflicts of interest.

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Personal Trading Code of Ethics The Advisers have adopted a Code of Ethics Policy for its employees. The policy describes employee standard of conduct and fiduciary duties and limits personal trading by its employees and their immediate family/household members in a wide range of securities, including common and preferred stock, debt instruments, securities that are convertible or exchangeable for equity or debt securities, and

derivative instruments. Employees must report every account that they or their immediate family/household member use for trading securities covered by the policy and, if they directly or indirectly influence or control trading in the account, they must generally pre-clear covered securities transactions and have copies of trade confirmations and periodic account statements sent by their broker to the compliance department. Controlled trading by employees and their immediate family/household members is prohibited in a wide range of securities that appear on restricted lists and confidential watch lists, and additional steps are taken to ensure that employees and their immediate family/household members are not permitted to trade for their personal account in securities selected for the Funds and to ensure employees do not engage in “front-running” of the Funds’ investment opportunities. Employees are required to promptly report any violation of the Code of Ethics policy of which they become aware. Employees are required to annually certify compliance with the Code of Ethics policy. A detailed summary of the Advisers’ Code of Ethics is available to limited partners and prospective limited partners during the investment due diligence process. A copy of the Code of Ethics may be obtained by contacting the Advisers’ compliance department. Related Person Investment For further detail regarding circumstances in which the Advisers or a related person (a) recommends to clients, or buys or sells for client accounts, securities in which the Advisers or a related person has a material financial interest, (b) invests in the same securities that the Advisers or a related person recommends to clients, or (c) recommends securities to clients, or buys or sells securities for client accounts, at or about the same time that the Advisers or a related person buys or sells the same securities for the Advisers’ own (or the related person’s own) account, as well as related conflicts of interest, please see “Code of Ethics” and Item 10 above. In addition, the Advisers’ personnel may buy securities in transactions offered to but rejected by Funds. Such transactions are subject to the policies and procedures set forth in Bain Capital Ventures’ Code of Ethics. The investment policies, fee arrangements and other circumstances of these investments may vary from those of the Funds. If the Advisers’ personnel have made large capital investments in or alongside the Funds, they may have conflicting interests with respect to these investments. For further details regarding these arrangements, as well as related conflicts of interest, please see Item 10 above.

Selection of Brokers and Dealers As the Funds primarily make venture and growth-stage investments, the Advisers anticipate that investments in publicly traded securities will be infrequent

occurrences (e.g., money market instruments pending investment in a portfolio company, securities held as a result of initial public offerings of portfolio companies, going-private transactions, etc.). However, to meet their fiduciary duties to the Funds, the Advisers have adopted written policies to address issues that might arise with respect to purchasing, holding, and selling publicly traded securities. For each of the Funds, the Advisers have, subject to the direction of such Fund’s General Partner, if applicable, sole discretion over the purchase and sale of investments (including the size of such transactions) and the broker or dealer, if any, to be used to effect transactions. In placing each transaction for a Fund involving a broker-dealer, the Advisers will seek “best execution” of the transaction. “Best execution” means obtaining for a Fund account the lowest total cost (in purchasing a security) or highest total proceeds (in selling a security), taking into account the circumstances of the transaction and the reputability and reliability of the executing broker or dealer. In determining whether a particular broker or dealer is likely to provide best execution in a particular transaction, the Advisers take into account all factors that it deems relevant to the broker’s or dealer’s execution capability, including, by way of illustration, price, the size of the transaction, the nature of the market for the security, the amount of the commission, the timing of the transaction taking into account market prices and trends, the reputation, experience and financial stability of the broker or dealer, and the quality of service rendered by the broker or dealer in other transactions. To the extent they aggregate orders for purchase and sale, the Advisers will aggregate such orders as deemed appropriate and in accordance with each Fund’s documents and in the best interest of each Fund.

For details regarding economic benefits provided to the Advisers by non-clients, including a description of related conflicts of interest, please see Item 10 above. In addition, the Advisers and their related persons may, in certain instances, receive discounts on products and services provided by the Funds’ portfolio companies.

No material items exist as of this time.

Oversight and Monitoring The Advisers closely monitor the portfolio investments of each Fund and generally maintain an ongoing oversight position in such portfolio investments. The portfolio investments of each Fund are generally private, illiquid and long-term in nature and accordingly, The Advisers’ review of them is not directed towards a short-term decision to dispose of securities. However, the portfolio investments of each Fund are reviewed by a team of investment professionals on a continuous basis. The team generally includes Partners and other investment professionals of the Advisers. Reporting Investors in the Funds will typically receive, among other things, a copy of audited

financial statements of the relevant Fund within 120 days after the fiscal year end of such Fund. Investors in each Fund will typically receive unaudited quarterly summary financial information regarding such Fund following the end of each financial quarter. The Advisers typically provide information regarding the calculation of valuations to the advisory board on an annual basis and certain information is made available to investors upon request. Investors in each Fund will receive regular reporting updates through quarterly letters, investor meetings and other materials provided on the investor website. The Advisers and the applicable General Partner, if any, may from time to time, in their sole discretion, provide additional information upon request relating to such Fund to one or more investors in such Fund, as they deem appropriate.

The Advisers have determined that they have custody of Fund assets for purposes of the Advisors Act as the Advisers are related persons of the General Partner of each such Fund. It is the policy of the Advisers to comply with the Advisers Act requirements in respect of the assets of any such Bain Capital Venture’s Fund. To the extent assets of a Fund are held by one or more custodial banks, such custodial banks maintaining such Fund assets send account statements to an independent representative of investors in the Funds, who compares the account statement received from the custodial bank to the account statements the Advisers deliver to investors. In accordance with SEC guidance, with respect to certain investments in privately offered securities, a specified custodian may hold only documentation relating to or referencing such investments but not the actual investment itself, and/or investments of a Fund may not be registered in the name of the custodian. Consequently, the custodian may not have control over the disposition of such investments, or the ability to direct delivery of sale proceeds or other distributions from such investments to the custodian. Further, for such investments, the custodian may not have the ability to validate or reconcile ownership of the investment with any third party, including the issuer.

The Advisers provide investment advisory services to each of the Funds pursuant

to the Advisory Agreements. Investment advice is provided by the Advisers directly to the Funds, subject to the direction and control of the affiliated General Partner of such Fund and not individually to the investors in the Funds. Any restrictions on investments in certain types of securities are established by the General Partner of the applicable Funds, and are set forth in the documentation received by each limited partner prior to investment in such Fund.

Funds are not able to direct the vote of their General Partner. The General Partner intends to vote proxies or similar corporate actions in the best interests of the applicable Fund, taking into account such factors as it deems relevant in its sole discretion. The Advisers’ proxy voting policy is designed to ensure that if a material conflict of interest is identified in connection with a particular proxy vote, that the vote is not improperly influenced by the conflict. A detailed summary of the Advisers’ proxy voting policies and procedures are available to limited partners and prospective limited partners during the investment due diligence process. A copy of the proxy voting policies and procedures may be obtained by contacting Bain Capital Ventures’ compliance department. Existing clients may obtain copies of relevant proxy logs, identifying how proxies were voted in connection with a Fund, and copies of proxy voting policies and procedures upon written request to: Bain Capital Ventures, LP, 200 Clarendon Street, Boston, MA 02116. Attn: compliance department. Item 18. Financial Information

Item 19. Requirements for State-Registered Advisers