Bridges Investment Management Inc

ITEM 5 | FEES AND COMPENSATION
BIM Clients Generally. BIM is primarily compensated with fees based on the assets managed by the firm.
Our standard fee schedule is listed below and is negotiable based on various factors which typically include
the complexity of one’s investment plan, anticipated future assets, market value of managed assets,
security holdings, relationship pricing, additional services, and other factors that may be unique to each
client resulting in some paying higher or lower rates. The firm does not require a minimum account size.
If a minimum fee is imposed, it will be fully disclosed and agreed upon in writing before being instituted.

                     ASSETS UNDER                   BASIS POINTS                %
                     MANAGEMENT
                     $0 – 5 million                      100                   1.00

                     $5 – 20 million                     75                    0.75

                     $20 – 50 million                    50                    0.50

                     $50 – 100 million                   40                   0.40

                     > $100 million                      30                   0.30

This is a blended fee schedule. This means that the assets in a client’s account will be billed at different
levels according to the fee schedule above. For example, if a client agreed to a monthly fee schedule
with an account value of $6,000,000 at the end of a 30-day month in a 365-day year, then the following
equation would be used to calculate their monthly fee: {($5,000,000 x 1.00%) + ($1,000,000 x 0.75%)} x
(30/365)} representing a $4,726.03 fee for the month.

We do not collect fees in advance. We collect fees either monthly or quarterly based on the value of
your account as of the most recently completed period for which services were rendered. A bill is
submitted either directly to you, your agent (if we are engaged through an agency agreement) or to the
custodian of the assets managed, who then deducts the fee from your account. If your agent or
custodian pays our bill, the transaction is reported to you in the next statement produced.

BIM also provides financial planning, portfolio management, pension consulting, adviser selection,
securities research, newsletter publication, and educational workshop services. Fees for our services, if
applicable, will be disclosed to you and agreed to in writing.

You will incur certain charges imposed by custodians, agents, brokers, third-party investment managers,
and other third parties including but not limited to custodial fees, odd-lot differentials, transfer taxes,
wire transfer and electronic fund fees, fees charged by managers as well as other fees and taxes on
brokerage accounts and securities transactions. Mutual funds, money market funds, limited partnerships,
and exchange-traded funds also charge internal management and other fees, which are disclosed in a
fund’s prospectus or other offering materials.

If you decide to terminate our services, our Management Agreement requires 30 days’ notice, and we
will pro-rate the bill for the time span covered in that final period when services were rendered. Any
earned, unpaid fees will be due and payable and debited from the client’s investment accounts as
applicable.

Financial Planning fees are agreed upon with each client (or in certain instances, with a client’s employer
who is offering BIM’s financial planning service as a benefit to their employees). Such fees are negotiable,
will be confirmed in writing, and may vary depending on the relative complexity of a client’s particular
circumstances. Financial Planning fees may be charged as a flat fee or included in a client’s Investment
Management fees. Billing arrangements may vary, and clients and/or third parties (e.g., client’s employer)
may be partially or fully responsible for payment of a particular client’s financial planning fees. As a result,
clients should expect to be charged different fees for similar services, and the actual fee may be higher
or lower than the fee charged to other clients depending on these broader considerations.

Fees for additional services offered by BIM are agreed upon in writing with each client by BIM or its
affiliates.

Additional Compensation Arrangements.

Bridges Trust Company and Bridges Trust Company of South Dakota compensate BIM for certain
administration, investment management, facilities, management, personnel, and other services at the
rate of 70% and 50% of each company’s overall net profits, respectively, subject to change from time to
time.

Bridges Private Equity Fund I, LP compensates BIM an annual administrative fee for management company
services, on a quarterly basis, in advance, an amount equal to 0.40% per annum on the first $50 million of
aggregate commitments and 0.20% on aggregate commitments exceeding $50 million.

Bridges Investment Fund (“BIF”) compensates BIM for investment management services at the annual rate
of 0.50% of the mutual fund’s average daily net assets, payable monthly. Please note that individual client
positions in BIF are excluded from the tiered fee schedule above, thereby preventing client advisory fees
from being charged in addition to the compensation BIM receives directly from BIF.

Bridges Philanthropic Fund (“BPF”) compensates BIM for certain operational, administrative, and
investment services at the rate of 70% of investment fees BPF charges its clients, subject to change from
time to time.

Please see Item 10 for further information.

ITEM 7 | TYPES OF CLIENTS
BIM generally provides investment services to charitable organizations and foundations, corporations,
families, family offices, estates, individuals, investment companies, private funds, retirement plans,
trusts, and other entities.