Barrow Street Advisors LLC

Item 5 - Fees and Compensation

    Separately Managed Accounts

    Management fees for Managed Accounts are based upon a percentage of assets under management and
    may vary depending upon the nature of the portfolio managed. Fees are calculated, and are based upon,
    the methodology agreed to with each Managed Account. The specific terms relating to Managed Account
    advisory management fees are typically set forth in a written agreement between BSA and the Managed
    Account client, and generally ranges from 0.75% to 1.50% of assets under management. The advisor
    management fee may be invoiced monthly and paid in arrears, or deducted automatically from the client’s
    managed account based on the average account market value at the close of each business day throughout
    the month. Depending upon the characteristics of the account and the services provided, the fees are
    generally negotiable and may be higher or lower than the stated range.

    In addition to the management fees set forth above, Managed Account clients may also incur other
    expenses, including, but not limited to, fees for administration; accounting; legal services; compliance;
    audit; custody; insurance; and brokerage commissions and other transaction costs (e.g. redemption fees,
    exchange fees).

Item 7 - Types of Clients

    We provide investment advisory services to Separately Managed Accounts. Separately Managed Account
    clients may include high net worth individuals, foundations and endowments and other registered
    investment advisors. Generally, we do not impose any minimum investment requirements on Managed
    Account clients.