AGF Investments LLC

Fees and Compensation
AGFUS currently provides investment advisory services to the AGF Investment Trust, which sponsors an ETF, sub-
advisory services and model investment management to an affiliated firm, and model delivery services to
UMA/SMA/TAMP platforms or model sponsors. AGFUS may also provide such services to institutions, investment
companies, foundations, corporations, pensions and/or profit-sharing programs, and other investment companies,

AGF generally charges an investment management fee or advisory fee to clients based on the fair market value of
assets under management or assets under advisement. Fees are negotiable ad may vary significantly from client to
client and mandate to mandate.

In general, for discretionary accounts, our fees are based on percentage of the value of assets under manage, as
determined in good faith by AGFUS or the client’s administrator (as negotiated). We retain discretion over the fees
we charge, subject to applicable law, and our fees for a particular investment strategy or mandate may differ based
on investment vehicle and across affiliated entities. Fees are generally negotiable in light of special circumstances
of clients, including but not limited to, specific servicing or reporting requirements, asset levels, or other factors, in our
sole discretion. In certain circumstances we may continue to offer to a client the lowest available fee for a particular
investment mandate and for comparable services.

Fees for registered investment companies (such as ETFs) and Canadian funds, are described in each fund’s
prospectus.

Fees for SMA/UMA models are also based on percentage of the value of assets under advisement and are
negotiated with our SMA/UMA model sponsor clients and/or the administrative platforms they elect to use. Those
fees are based on a number of factors including asset levels, servicing or reporting requirements, and other factors,
in our sole discretion. IN some cases, no direct fees are received by AGFUS for the model delivery services.

Fee structures may vary across and within investment mandates based on the specific circumstances of the client.
Additionally, we may offer or make available capacity maximums in a particular investment mandate, in aggregate
and/or per client, which may impact fee structures and/or negotiations.

In all cases, our management or advisory fees for all accounts do not include fees charged by clients’ custodians
and/or administrators, or other expenses charged to or deducted from the assets of the client’s account. Additionally,
client accounts will incur brokerage costs associated with the buying and selling of securities in the account. Refer to
Brokerage Practices for more information.

Management fees differ by investment mandate and structure (e.g., pooled vehicle versus segregated account
versus model delivery), however the standard minimum account size for a segregated account is $25 million. Our
posted rates for selected mandates as related to segregated accounts are as follows:

             Emerging Markets Equity                              Global Equity / Global Select ADR
                    Segregated                                                Segregated
                     AUM                 Rate                                  AUM                  Rate
 First              $25,000,000         80 bps           First               $25,000,000           65 bps
 Next               $25,000,000         80 bps           Next                $25,000,000           60 bps
 Next               $25,000,000         75 bps           Next                $25,000,000           55 bps
 Next               $25,000,000         70 bps           Next                $25,000,000           50 bps
 Next              $100,000,000         65 bps           Next               $100,000,000           45 bps
 Over              $200,000,000         60 bps           Over               $200,000,000           40 bps

  Global Sustainable Equity/Global Sustainable
                                                                          U.S. Small-Mid Cap
 Equity ADR/ U.S. Energy Transition & Adaptation
                    Segregated                                                 Segregated
                     AUM                 Rate                                   AUM                  Rate
 First             $25,000,000          65 bps           First               $25,000,000            80 bps
 Next              $25,000,000          60 bps           Next                $25,000,000            75 bps
 Next              $25,000,000          55 bps           Next                $25,000,000            70 bps
 Next              $25,000,000          50 bps           Next               $25,000,000             68 bps
 Next              $100,000,000         45 bps           Next               $100,000,000            65 bps
 Over              $200,000,000         40 bps           Over               $200,000,000            65 bps

  U.S. Large Cap Growth Equity / Technology &
                  Innovation
                    Segregated
                      AUM                Rate
 First             $25,000,000          60 bps
 Next              $25,000,000          55 bps
 Next              $25,000,000          50 bps
 Next              $25,000,000          45 bps
 Next              $100,000,000         42 bps
 Over              $200,000,000         40 bps

Calculation and Payment of Fees

AGFUS’s fees are calculated and paid in accordance with the terms of the relevant investment agreement and/or
other governing documents (e.g., a fund’s prospectus) applicable to the account.

While particular fee billing arrangements may vary, as a general matter, management and/or advisory fees are
calculated and paid quarterly, in arrears, with the amount of such fee being the agreed upon percentage of the
aggregate market value of all assets under management or advisement within the relevant institutional account(s)
...

Types of Clients
AGFUS currently provides investment advisory services to AGF Investments Trust, which sponsors an ETF, sub-advisory
services and model investment management to an affiliated firm, and model delivery services to UMA/SMA/TAMP
platforms or model sponsors.
AGFUS may also provide such services to institutional clients, investment companies, foundations, corporations
(including not-for-profit and tax-exempt organizations), state/municipal/governmental organizations, pension and/or
profit-sharing programs, and pooled investment vehicles. AGFUS’s services are subject to minimum account
balances, although AGFUS reserves the right to waive these minimums at its discretion.

Methods of Analysis, Investment Strategies, and Risk of Loss
AGFUS may utilize various strategies when constructing client portfolios, which are summarized below. The below
reflects investments strategies which are currently actively managed, AGFUS may develop or initiate accounts with
strategies not listed below. AGFUS’s investment activities involve a significant degree of risk of loss that you should be
prepared to bear. This section contains a discussion of the primary risks associated with our investment activities.
However, it is not possible to identify all of the risks associated with investing, and the particular risks applicable to a

client will depend on the nature of the client, its investment strategy or strategies, and the types of investments held
by the client.

While AGFUS seeks to manage the client assets so that risks are appropriate to the return potential for the strategy or
mandate, it is often not possible or desirable to fully mitigate risks. Any investment includes the risk of loss and there
can be no guarantee that a particular level of return will be achieved.

The methods of analysis and risk of loss will be provided to clients who choose to invest in strategies not listed below
prior to contract or agreement execution.

Dynamic Hedged U.S. Equity Strategy
The Dynamic Hedged U.S. Equity Strategy seeks to provide long-term capital appreciation while normally maintaining
lower average volatility than the U.S. equity market. The Strategy incorporates embedded downside risk
management in order to attempt to protect capital in periods of falling equity markets. The Strategy will invest
primarily in U.S. sector-based ETFs and other ETFs.

U.S Market Neutral Anti-Beta Strategy
The U.S. Market Neutral Anti-Beta Strategy seeks to provide a consistent negative beta exposure to the U.S. equity
market by investing primarily in long positions in low beta U.S. equities and short positions in high beta U.S. equities on
a dollar neutral basis, within sectors.

Emerging Markets Equity Strategy
The Emerging Markets Equity strategy’s investment objective is to provide superior capital growth. It invests primarily
in shares of companies that are located or active mainly in emerging market countries.

Global Equity Strategy
The Global Equity strategy’s investment objective is to provide long-term capital growth. It invests primarily in shares
of companies around the world.

Global Select Strategy
The Global Select strategy’s investment objective is to provide superior capital growth. It invests primarily in shares of
companies around the world with superior growth potential.

Global Select Equity ADR Strategy
The Global Select Equity ADR strategy’s investment objective is to provide superior capital growth. It invests primarily
in shares of companies around the world with superior growth potential.

Global Sustainable Equity Strategy
The Global Sustainable Equity strategy’s investment objective is to provide long-term capital appreciation by
investing primarily in a diversified portfolio of equity securities, globally, which fit the Fund’s concept of sustainable
development.

Global Sustainable Equity ADR Strategy
The Global Sustainable Equity ADR strategy’s investment objective is to provide long-term capital appreciation by
investing primarily in a diversified portfolio of equity securities, globally, which fit the Fund’s concept of sustainable
development.

U.S. Large Cap Growth Equity Strategy
The U.S. Large Cap Growth Equity strategy’s investment objective is to provide long-term capital growth. It invests
primarily in equity securities of established U.S. companies.

U.S. Small-Mid Cap Growth Equity Strategy
The U.S. Small-Mid Cap Equity strategy’s investment objective is to obtain superior capital growth. It invests primarily
in shares of small and medium companies with superior growth potential in the U.S.

U.S. Energy Transition and Adaptation Strategy
The U.S. Energy’s Transition and Adaptation strategy’s investment objective is to provide long-term capital
appreciation by investing primarily in equity securities of companies providing solutions related to reducing the
environmental footprint of the current energy system and adaptation to climate change.

Fixed Income Strategies
The fixed income strategies are not currently available to US clients.

The Credit Opportunities Strategy seeks to generate consistent full-cycle positive total returns with an emphasis on
capital preservation and low correlation to traditional fixed income and equity markets, by investing primarily in
investment grade corporate and government fixed-income securities and instruments of issuers anywhere in the
world.

The Global Corporate Bond Strategy seeks to generate a high level of income and maximize return by investing
primarily in fixed-income securities issued or guaranteed by corporations around the world and rated BB+ equivalent
or lower.

The Global Sustainable Balanced Strategy seeks to provide long-term growth of capital through a combination of
capital appreciation and interest income by investing primarily in a diversified portfolio of equity and fixed-income
securities which fit the strategy’s concept of sustainable development. AGFUS sub-advises the fixed income portion
of this strategy.
...