Allianz Global Investors US LLC

ITEM 5. FEES AND COMPENSATION                              fees, transaction fees, break-up fees, legal fees,
                                                           advisory fees, investment banking fees, arrangement
Commingled Funds                                           fees, consulting fees, monitoring fees and accelerated
                                                           monitoring fees or other similar compensation.
Private Funds
As noted above, AllianzGI US provides advisory             AllianzGI may allow third-party co-investors to
services to the Infrastructure Debt Fund and it or its     participate in particular investments alongside a
affiliates may act as managing member or general           private fund (see Item 12). Where co-investors have
partner of certain private fund. Private funds may be      participated in an investment, expenses related to
established by AllianzGI US, its affiliates, or third      such investments will be allocated to such co-investors
parties. AllianzGI US, its affiliates and/or their         and private funds and/or portfolio companies in
personnel may have an ownership or management              accordance with the applicable Governing Documents
interest in a private fund. A minimum account size         and AllianzGI US’s expense policy.
may be applicable for participation in a private fund.
Additional information concerning these Private            ITEM 6. PERFORMANCE-BASED FEES AND SIDE-BY-
Funds, including advisory fees, is typically included in   SIDE MANAGEMENT
the relevant Private Fund’s offering documents.