30 Recommended Elements of an LPAC Meeting Agenda The following is a set of recommended elements that could comprise an LPAC meeting agenda. This list is not intended to cover all potential topics at LPAC meetings. Ultimately, LPAC agendas are up to the GP’s discretion. • Overall GP (firm) update (not to the exclusion of the other items on the list); • Overall PE market update, i.e., investment conditions that fund is observing and the effect on strategy; • Regulatory & legal (if any litigation) update; • Fund compliance with LPA provisions, e.g., con- centration limits, key person, etc.; • Disclosure of any potential amendment, waiver, vote or matter which may be requested or present- ed to LPs or the LPAC before the next scheduled LPAC meeting; • Team changes, e.g., departures, additions, promo- tions, expected changes; • Review of new deals / realizations; • Pipeline update; • Fund overview / dashboard on performance per company relative to original plan; • Portfolio company snapshot of each unrealized investment (financial and qualitative with initial investment highlights); • Portfolio company valuations, methodology used over last four quarters (to highlight changes); • Discussion of potential exits­ —timing and amounts (preferably in writing); • Detailed fund expenses including payments to affiliates, broken deal, administrative, etc. and offsets; • Disclosure of any conflicts or investments complet- ed in similar strategies and why they weren’t a fit for the fund; • Disclosure of capital call line usage, fund performance excluding the capital call line and the terms of line; • ESG reporting; • Annual in camera discussion with the auditor regarding financial statements, valuations, carried interest, fees, etc.; • In camera (LP only) session. FUND GOVERNANCE