AMG Funds LLC

Item 5 – Fees and Compensation
Standard Fee Schedule
Specific fees associated with Funds or services AMGF offers are typically set forth in the
applicable Fund prospectus or in service contracts, as applicable. AMGF may choose to waive any
account minimum in its sole discretion or to charge a minimum fee or account maintenance fee or
administrative fee, regardless of the size of the account.

Funds
As noted in Item 4 – Advisory Business, AMGF serves as the Investment Manager to each of
the Mutual Funds, pursuant to the terms of an investment advisory agreement. For the AMG
Pantheon Fund, LLC, AMG Pantheon Master Fund, LLC, AMG Pantheon Subsidiary Fund, LLC,
AMG Pantheon Lead Fund, LLC, the AMG Pantheon Credit Solutions Fund, LLC, AMG Pantheon
Credit Solutions Subsidiary Fund, LLC, and AMG Credit Solutions Lead Fund, LLC, Pantheon
Ventures (US) LP, an AMG Affiliate, serves as the investment adviser. For the AMG Pantheon
Infrastructure Fund, LLC, AMG Pantheon Infrastructure Subsidiary Fund, LLC, and AMG
Pantheon Infrastructure Lead Fund, LLC, Pantheon Infra Advisors, LLC, an AMG Affiliate, serves
as investment adviser. For the AMG BBH Fund, Brown Brothers Harriman Credit Partners, LLC,
an AMG affiliate, serves as the investment adviser.

Fees for Mutual Fund investments generally include two types – shareholder fees and annual fund
operating expenses. Shareholder fees may include:
   •   Exchange fees (fees charged for transferring to another fund within the same fund group);
   •   Account fees (account maintenance fees); and

Annual fund operating expenses include:

   •   Management fees (fees paid to an adviser or its affiliates for managing the fund);
   •   Distribution fees (e.g., 12b-1) and/or shareholder service; and
   •   Other expenses (miscellaneous expenses, such as custodial expenses, legal expenses,
       accounting expenses, transfer agent expenses, and other administrative expenses).

The annual fees for the Mutual Funds are included in each Mutual Fund’s Prospectus and SAI.
Management fees for the Mutual Funds are determined based on investment style, asset class, and
other factors.

Clients whose assets are invested in the Mutual Funds may pay some or all of the above fees.
Information concerning the Mutual Funds, including a description of the services provided and
advisory and other fees, can be found in each Mutual Fund’s Prospectus and SAI at
wealth.amg.com.
The overall management fee charged to the Mutual Funds is computed daily as a percentage of the
average net assets of the Mutual Fund and may be paid monthly or quarterly. AMGF retains a
portion of the overall management fee as compensation for its services as Investment Manager and
the remainder of the management fee is paid to the Mutual Funds’ Subadvisers. The fee paid to
each of the Subadvisers is paid out of the fee AMGF receives from a Mutual Fund and does
not increase the expenses of a Mutual Fund. Total management fees are shown in the Prospectus
and SAI for the Mutual Funds. Shares of certain share classes of the Mutual Funds purchased
through a financial intermediary may be subject to additional commissions levied by such
intermediary and not reflected in the Prospectus and SAI.

Additional Fees and Expenses
AMGF fees do not include brokerage commissions, transaction fees, service provider fees, and
other related costs and expenses that Fund shareholders will incur. For the ETF, fees are paid to
the Investment Manager pursuant to a Unified Fee arrangement, and the Investment Manager has
undertaken to pay all of the ordinary operating expenses of the Fund under this arrangement, except
for certain fees listed in the prospectus. Fund shareholders will typically pay a brokerage
commission for transaction execution. Investment activity by a Fund subadviser or an adviser
whose investment strategies are serviced and offered by AMGF may also involve other transaction
fees payable by Fund shareholders, such as deferred sales charges, odd-lot differentials, transfer
taxes, wire transfer and electronic fund fees, and other fees and taxes on brokerage accounts and
securities transactions. In addition, Fund shareholders may incur certain charges imposed by
custodians, broker-dealers, third-party investment consultants, and other third parties, such as
management fees, consulting fees, and custodial fees.

Types of Clients
As described previously, AMGF provides investment advisory services to the Mutual Funds.
AMGF provides services to a wide array of clients, including high-net-worth individuals, corporate
pension and profit sharing plans, public pension plans, charitable institutions, foundations,
endowments and 401(k) sponsors and plan investors. Investors wishing to utilize AMGF’s services
may do so through financial consultants, registered investment advisers, and other financial
intermediaries, or directly with the Mutual Funds.

Conditions for Managing Accounts
AMGF provides services to the Mutual Funds described in Item 4 – Advisory Business. The
conditions for managing accounts vary and are subject to change and are included in the relevant
Fund materials.