BB&T Institutional Investment Advisers Inc

Item 5 – Fees and Compensation

Participant Directed Accounts

Fees for services may be calculated as a percentage of assets under management on a
sliding scale as follows:

   *Bundled Discretionary Services

      Assets less than $2,500,000.............................. ............................... 40 bps
      Assets from $2,500,000 but less than $3,500,000............................. 32 bps
      Assets from $3,500,000 but less than $7,500,000............................. 25 bps
      Assets from $7,500,000 but less than $10,000,000........................... 17 bps
      Assets from $10,000,000 but less than $15,000,000......................... 14 bps
      Assets from $15,000,000 but less than $20,000,000......................... 12 bps
      Assets from $20,000,000 but less than $30,000,000........................... 8 bps
      Assets over $30,000,000 ................................... ................................. 5 bps
   *Bundled Non-Discretionary Services

      Assets less than $2,500,000.............................. ............................... 35 bps
      Assets from $2,500,000 but less than $3,500,000............................. 28 bps
      Assets from $3,500,000 but less than $7,500,000............................. 21 bps
      Assets from $7,500,000 but less than $10,000,000........................... 14 bps
      Assets from $10,000,000 but less than $15,000,000......................... 11 bps
      Assets from $15,000,000 but less than $20,000,000........................... 9 bps
      Assets from $20,000,000 but less than $30,000,000........................... 5 bps
      Assets over $30,000,000 ................................... ................................. 3 bps
   * Bundled services include the recordkeeping and fiduciary services provided by Truist Bank
     Retirement & Institutional Services which is the owner of BB&T Institutional Investment
     Advisers, Inc.
   Small Plan Select Services

      All Assets ........................................................... ................................. 8 bps

Non-Bundled Discretionary Services

   Assets less than $2,500,000.............................. ............................... 40 bps
   Assets from $2,500,000 but less than $3,500,000............................. 32 bps
   Assets from $3,500,000 but less than $7,500,000............................. 25 bps
   Assets from $7,500,000 but less than $10,000,000........................... 17 bps
   Assets from $10,000,000 but less than $15,000,000......................... 14 bps
   Assets from $15,000,000 but less than $20,000,000......................... 12 bps
   Assets from $20,000,000 but less than $30,000,000........................... 8 bps
   Assets over $30,000,000 ................................... ................................. 5 bps
   Minimum Fee $15,000 Annually

Non-Bundled Consulting and Investment Advisory Services – Discretionary and
Non-Discretionary

   Assets less than $7,500,000.............................. ............................... 50 bps
   Assets from $7,500,000 but less than $10,000,000........................... 40 bps
   Assets from $10,000,000 but less than $15,000,000......................... 30 bps
   Assets from $15,000,000 but less than $25,000,000......................... 25 bps
   Assets from $25,000,000 but less than $50,000,000......................... 20 bps
   Assets from $50,000,000 but less than $75,000,000......................... 15 bps
   Assets from $75,000,000 but less than $100,000,000....................... 10 bps
   Assets from $100,000,000 but less than $250,000,000....................... 5 bps
   Assets over $250,000,000 ................................. ........................ Negotiable
   Minimum Fee $25,000 Annually

Portfolio Management Services

  *Bundled Mutual Fund Only Portfolios

     Assets less than $5,000,000.............................. ............................... 36 bps
     Assets from $5,000,000 but less than $10,000,000........................... 25 bps
     Assets from $10,000,000 but less than $25,000,000......................... 11 bps
     Assets over $25,000,000 ................................... ................................. 1 bps
  Equity Portfolios and Accounts Invested with Multiple Mandates
     Assets less than $2,000,000.............................. ............................... 90 bps
     Assets from $2,000,000 but less than $5,000,000............................. 60 bps
     Assets from $5,000,000 but less than $15,000,000........................... 50 bps
     Assets over $15,000,000 ................................... ............................... 40 bps
     Minimum Annual Fee $2,500
  Core and Taxable Fixed Income Portfolios
     Assets less than $2,000,000.............................. ............................... 50 bps
     Assets from $2,000,000 but less than $5,000,000............................. 40 bps
     Assets from $5,000,000 but less than $15,000,000........................... 30 bps
     Assets over $15,000,000 ................................... ............................... 25 bps
     Minimum Annual Fee $5,000
  Short Duration and Intermediate Government Fixed Income Portfolios
     Assets less than $10,000,000............................ ............................... 30 bps
     Assets from $10,000,000 but less than $25,000,000......................... 20 bps
     Assets over $25,000,000 ................................... ............................... 15 bps
     Minimum Annual Fee $3,000
  Short-Term Fixed/CD Program Asset Management
     Assets less than $10,000,000............................ ............................... 25 bps
     Assets from $10,000,000 but less than $25,000,000......................... 15 bps
     Assets over $25,000,000 ................................... ............................... 10 bps
     Minimum Annual Fee $2,500
...

Item 7 – Types of Clients

BB&T IIA provides investment consulting and portfolio management services to ERISA
and Non-ERISA employee benefit plans, foundations, endowments, deferred
compensation programs, defined contribution plans, defined benefit plans, banks or thrift
institutions, and corporate investment accounts. BB&T IIA does not have minimum
account balance requirements for initiating or maintaining an investment advisory
relationship; however, we do have minimum fees for certain arrangements as detailed in
Item 5. BB&T IIA also provides investment management services to Truist Bank under
agreement for some trust clients.