Bear Stearns Asset Management Inc

Fees and Compensation

A. Advisory Fees and Compensation

The CDO fund for which the Adviser serves as collateral manager is subject to an asset-based fee, as specified
in the offering documents related to the fund. Investors should refer to such offering documents for further
information with respect to fees.

B. Payment of Fees

A description of the calculation and payment of fees payable to the Adviser is set forth in the offering or
governing document or fee agreement for the fund. Clients should refer to such documents for further
information with respect to fees.

C. Additional Fees and Expenses

General

In addition to the advisory fees described above, clients may be subject to other fees and expenses in
connection with BSAM's advisory services.

Transaction Charges

Clients generally pay brokerage commissions, taxes, legal fees, charges and other costs related to the
purchase and sale of securities for a client’s account. See Item 12, Brokerage Practices for additional
information regarding the Adviser’s brokerage practices.

Common Types of Expenses

For details on fund expenses of the CDO fund for which the Adviser serves as collateral manager, please refer
to the offering documents for such fund.

D. Prepayment of Fees

BSAM charges its advisory fees in arrears; such fees are not paid in advance.

E. Additional Compensation and Conflicts of Interest

Neither BSAM nor any of its "Supervised Persons" (as defined in Key Terms) accepts compensation for the sale
of securities or other investment products.

Bear Stearns Asset Management Inc.                                                  Form ADV | March 25, 2026

As part of its regular business activities, JPMC from time to time may provide services to the fund managed by
the Adviser, or services, advice or financing to pooled investment vehicles in which the fund managed by the
Adviser invests, or to companies in which such fund managed by the Adviser invests. Subject to legal or
regulatory limitations, JPMC will receive customary fees and other compensation for such services, advice or
financing, and such amounts will not be shared with the fund managed by the Adviser or used to offset the
Adviser’s advisory fees.

Client Directed Investment in Affiliated Funds

If a client independently invests in another pooled investment vehicle managed by BSAM or its "Affiliates" (as
defined in Key Terms) (collectively, "JPMorgan Affiliated Funds"), the Adviser generally does receive advisory
fees for both advising the client and providing advisory services to the JPMorgan Affiliated Fund in which the
client is invested.

The Adviser has policies and procedures reasonably designed to appropriately identify, and manage the
conflicts of interest described above. Please refer to the relevant offering document for the fund for additional
information and disclosure related to fees and potential conflicts of interest.

Types of Clients

The Adviser provides investment advisory services to a pooled investment vehicle.