Century Capital Management LLC

Item 5. Fees and Compensation

For serving as adviser to the Century Funds (as defined in Item 10 below), Century is paid an investment advisory
fee by each Century Fund that is based on a percent of the fund’s average net assets. The fees charged are
described in each fund’s prospectus and are summarized below.

For Century Shares Trust:
    0.80% on average daily net assets up to $500 million
    0.70% on average daily net assets in excess of $500 million

For Century Small Cap Select Fund:
    0.95% on average daily net assets

Century Funds are subject to additional fees and expenses which are described in detail in each fund’s prospectus.

Century’s current standard fee schedules for separately managed accounts are based on a percent of assets under
management, as follows:

For Large Cap Growth accounts:
    0.625% on assets up to $25 million
    0.550% on the next $25 million of assets
    0.490% on the next $25 million of assets
    0.440% on assets in excess of $75 million

For Small Cap Growth accounts:
    0.95% on assets up to $25 million
    0.90% on the next $25 million of assets
    0.85% on assets in excess of $50 million

For Small-Mid Cap Growth accounts:
    0.95% on assets up to $25 million
    0.80% on the next $25 million of assets
    0.70% on assets in excess of $50 million

For Small Cap Value accounts:
    0.95% on assets up to $25 million
    0.85% on the next $25 million of assets
    0.80% on assets in excess of $50 million

Investment advisory fees for separately managed accounts and sub-advised mutual funds are negotiable.

Century may charge different advisory fees for certain accounts based on the client’s particular needs, objectives,
service requirements, and other factors unique to the client’s relationship with Century. Fees charged to large
institutional clients may be subject to negotiation as a result of the initial or potential size of the accounts. There
also may be differences in advisory fees based on account inception dates. For these reasons, certain clients are and
may in the future be charged fees that are different from the standard fees set forth above.

Century generally does not enter into investment advisory agreements with “most favored nation” clauses.
However, certain institutional clients have negotiated “most favored nation” clauses in their investment advisory
agreements. These clauses require Century to decrease the fees charged to the “most favored nation” client if
Century enters into an investment advisory agreement at a lower fee rate with another institutional client. The
applicability of a “most favored nation” clause is detailed in the investment advisory agreement and may depend on
the degree of similarity between institutional clients, including reporting requirements, investment restrictions, the
amount of assets under management and the particular investment strategy selected by each client. Century does
not agree to “most favored nation” clauses in all circumstances.

Clients are billed for fees incurred. Typically, fees are billed quarterly. Fees are generally based upon the average
of month end net assets for the quarter and are payable in arrears. Clients do not pay Century’s fees in advance.

Clients may pay other types of fees or expenses that are related to the investment advisory services provided by
Century, including custody fees. Clients also will incur brokerage commissions and transaction costs. Please see

Item 7. Types of Clients

Century provides investment advisory services to investment companies and other institutional investors. Clients
generally include investment companies, corporate pension plans and employee benefit plans, state and municipal
government entities, foundations and endowments, corporations and health care organizations. Century does not

provide investment advisory services to individual investors. The minimum account size for registered investment
companies managed by Century varies and is described in the applicable fund prospectus. Currently, there is no
minimum account size for a separate account.