Acadian Asset Management Australia Limited

Item 5 – Fees and Compensation

Acadian Australia’s management fees are negotiable and specified in the written agreement between
Acadian Australia and each client. Depending on the mandate and the negotiation with the client,
Acadian Australia’s fee schedule may be flat, “tiered,” or involve a performance fee. Depending upon the
range of services provided to the client, the mandate requested, investment performance, total assets a
particular client has under management with Acadian Australia or anticipates investing with Acadian
Australia, common relationships, and other factors as determined in Acadian Australia’s sole discretion,
fees may be reduced, or a “most favored nation” fee schedule granted.

If a client requests, Acadian Australia will charge fees based upon the investment performance we
achieve in managing a client’s portfolio. Such fees are individually negotiated with the client. Additional
details regarding performance fees and potential conflicts related to them are provided in response to Item
6 of this Brochure.

The timing and method of how a client will pay its management fee to Acadian Australia is negotiable
and specified in the written agreement between Acadian Australia and each client. Typically,
management fees will be payable monthly or quarterly in arrears, however some may pay monthly or
quarterly in advance. The management fee is typically calculated based upon valuation information
maintained by the client or fund custodian or prime broker, the fund administrator, or maintained by
Acadian Australia as agreed to with the client. A client may be billed directly, or they may authorize their
chosen custodian to debit fees from their account upon receipt of a request from Acadian Australia.
Management fees shall typically be prorated for each capital contribution and withdrawal made during the
applicable calendar month or quarter, as applicable. Accounts initiated or terminated during a calendar
month or quarter, as applicable, will be charged a prorated fee. Upon termination of any account, any
prepaid, unearned fees will be promptly refunded, and any earned, unpaid fees will be due and payable.
Each client typically negotiates termination provisions within their investment management agreement.
Acadian Australia does not assess termination charges for separate accounts.

For separately managed accounts, the only fee paid by a client to Acadian Australia is the management
fee and/or performance fee negotiated in the Investment Management Agreement. All other fees and
expenses that may be associated with the account are the sole responsibility of the client. These fees may
include, but may not be limited to, brokerage commissions, transaction fees, taxes, custodial fees,
administrator fees, trustee fees, and fees for audit, tax and legal advisers.

Acadian Australia markets our investment capabilities related to specific investment strategies. We do
not typically recommend or market specific products. Subject to certain investment minimums, clients
choose the method in which that want to invest with Acadian Australia. This includes via a separate
account option or, if available, a fund structure.

Acadian Australia pays compensation to Acadian Australia employees who market firm investment
strategies. Compensation is determined based upon a number of factors that include a percentage of the
management fee paid to Acadian Australia by the client for managing the assets.

Item 7 – Types of Clients

Acadian Australia provides portfolio management services for institutional and wholesale clients only
through separately managed accounts or advising or sub-advising a fund structure on a client’s fund
platform.

For separate accounts, Acadian Australia will typically impose a minimum initial value of at least $50
million dollars while reserving the right to accept smaller accounts. For advised or sub-advised funds,
initial investment minimums vary and are typically listed in the prospectus for each registered fund that
Acadian Australia advises or sub-advises.