Aristotle Credit Partners LLC

Item 5 – Fees and Compensation

5.A.   Adviser Compensation

Aristotle Credit’s fees are generally described below and detailed in each client’s advisory
agreement or applicable account document. Fees for investment advisory services may be
negotiated with each client on an individual basis. Aristotle Credit may group multiple
accounts of a client (or group of related clients) together for fee billing purposes.

Fees may change over time and as discussed below, different fee schedules may apply to
different types of clients, strategies, and advisory arrangements. Under certain
circumstances, fees may be negotiated on a basis different from Aristotle Credit’s stated fee
schedules. Aristotle Credit reserves the right to waive or reduce the fees charged to a
particular client in its sole and absolute discretion. The amount, timing, and type of fees
charged, and the manner in which fees are calculated, are determined through negotiations
with clients. Accordingly, there may be differences in fees paid by certain clients based on a
variety of factors. Negotiations between Aristotle Credit and clients are influenced by such
factors as the nature and extent of the investment advisory services to be rendered and the
size of the managed account.

Fee Schedules

SEPARATELY MANAGED ACCOUNTS

Aristotle Credit's annual management fee for separately managed accounts ranges from
0.30% - 0.50% on assets under management. Aristotle Credit’s advisory fees are subject to
negotiated agreements with clients and are determined according to a number of factors
including but not limited to, account size, investment strategy, and costs incurred by
Aristotle Credit in managing such accounts.

WRAP PROGRAM FEES

For wrap program services, the client will pay the manager for its services and for the
services of Aristotle Credit on a quarterly or monthly basis in advance or arrears according
to a negotiated fee schedule. The agreement may be terminated at any time at the written
request of either the client, manager, or Aristotle Credit and according to the terms of the
contract, in which case a prorated refund will be made. Generally, the fee to the manager for
a wrap account ranges from 1% to 3% per annum of assets under management. From the fee

paid to the manager for wrap accounts, Aristotle Credit receives 0.29% on the market value
of the account managed by Aristotle Credit. Most managers collect the entire fee and pay the
advisory portion due to Aristotle Credit after collecting such fees. The agreement cannot be
assigned without the full knowledge and consent of the other party to the agreement.

GENERAL INFORMATION

Termination of the Advisory Agreement Relationship: An advisory agreement may be
terminated according to the terms of the contract and written notice by either party. Upon
termination, fees will be prorated to the date of termination. If any fees are prepaid,
unearned fees will be promptly refunded.

Other Advisory Fee Arrangements

Limited Negotiability of Advisory Fees: Although Aristotle Credit has established the
aforementioned fee schedule(s), we retain the sole discretion to negotiate alternative fees
on a client-by-client basis. Client facts, circumstances and needs are considered in
determining the fee schedule. These include the complexity of the client, assets to be placed
under management, anticipated future additional assets, related accounts, portfolio style,
account composition, risk tolerance and reports, among other factors. The specific annual
fee schedule is identified in the contract between Aristotle Credit and each client.

5.B.   Direct Billing of Advisory Fees

Clients may request that fees owed to Aristotle Credit be deducted directly from the client’s
custodial account. In instances where a client has authorized direct billing, Aristotle Credit
takes steps to ensure that the client’s qualified custodian sends periodic account statements,
no less frequently than quarterly, showing all transactions in the account, including fees paid
to Aristotle Credit, directly to the client. Generally, Aristotle Credit will invoice clients for
their advisory fees whether direct billing is used or not. Clients have the option to be billed
by invoice to make a direct payment for fees rather than having fees deducted from their
custodian account.

5.C.   Other Non-Advisory Fees

Aristotle Credit’s advisory fee is exclusive of brokerage commissions, transaction fees and
other related costs which may be incurred by the client. Clients may incur certain charges
imposed by third-party custodians, brokers, third-party administrators and other third
parties including legal and accounting fees pertaining to services rendered to the client as
well as wire fees, taxes and other. A client’s portfolio may include positions in mutual funds,
such as a money market fund in which excess cash is swept into, which will also charge a
management fee. Such charges, fees and commissions are exclusive of, and in addition to,
Aristotle Credit’s fee, and Aristotle Credit shall not receive any portion of these commissions,
fees, and costs.

Clients participating in separately managed account programs may be charged various
program fees in addition to the advisory fee charged by our firm. In a wrap fee arrangement,
clients pay a single fee for advisory, brokerage and custodial services. Clients’ portfolio
transactions may be executed without commission charges in a wrap fee arrangement. In
evaluating such an arrangement, the client should also consider that, depending upon the
level of the wrap fee charged by the broker-dealer, the amount of portfolio activity in the
client’s account, and other factors, the wrap fee may or may not exceed the aggregate cost of
such services if they were to be provided separately.

Item 12 further describes the factors that Aristotle Credit considers in selecting or
recommending broker-dealers for client transactions and determining the reasonableness
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