Champlain Investment Partners LLC

Item 5: Fees and Compensation

DESCRIPTION
Champlain offers several different vehicles for investing in its strategies including separate accounts and pooled investment
vehicles, which include mutual funds, commingled funds, and collective investment funds. The fee structures of these vehicles
are outlined below. The prospectus of each registered mutual fund advised by Champlain and the offering memorandum,
subscription agreement, and/or other governing document of each unregistered pooled investment vehicle sets forth the
applicable fees and expenses. Certain Champlain strategies are also available via third-party sponsored programs.

Separate Accounts
As compensation for its services to separate accounts, Champlain offers the following fee schedules:

The separate account fee schedule for the Small Cap product is as follows:
        1.00% of the first $50,000,000 in assets
        0.85% of the next $50,000,000 in assets
        0.75% of the assets over $100,000,000

                                                                                                                    March 16, 2026

                                                          ADV Part 2

The separate account fee schedule for the Mid Cap product is as follows:
        0.85% of the first $50,000,000 in assets
        0.75% of the next $50,000,000 in assets
        0.65% of the assets over $100,000,000

The separate account fee schedule for the SMID Cap product is as follows:
        0.90% of the first $50,000,000 in assets
        0.80% of the next $50,000,000 in assets
        0.70% of the assets over $100,000,000

The separate account fee schedule for the Strategic Focus product is as follows:
        0.85% of the first $50,000,000 in assets
        0.75% of the next $50,000,000 in assets
        0.65% of the assets over $100,000,000

Unless otherwise specified in a written agreement, separate account advisory fees are payable quarterly in arrears and are
calculated on the basis of the average month-end market value of the investments in the account, including any balances held
in money market funds. Champlain has discretion to revise account minimums and fee schedules. Fees are negotiable, also at
the discretion of Champlain. Separate account clients will incur additional costs such as brokerage and other transaction
costs, as well as custody fees; additional information regarding brokerage and transaction costs can be found in Item 12 –

Item 7: Types of Clients

DESCRIPTION
Champlain generally provides investment advice to the following types of clients:

       Investment companies
       Pooled investment vehicles
       Corporate and public pension plans
       Health care and religious organizations
       Endowments and foundations
       Taft-Hartley plans
       Colleges and universities
       Family offices
       Wealth management firms
       Corporations and other businesses not listed above

                                                                                                                         March 16, 2026

                                                            ADV Part 2

ACCOUNT MINIMUMS
The initial investment minimum for a separate account is $10,000,000; there is no minimum for subsequent investments into
the same account. Investment minimums for Champlain-advised mutual funds are outlined in each fund’s prospectus and
investment minimum for each commingled fund and collective investment fund can be found in the offering memorandum,
subscription agreement, and/or other governing documents.

Champlain has discretion to waive or revise account minimums.

Champlain will begin managing an account once it has received a fully-executed investment advisory agreement authorizing
Champlain to make and implement investment decisions.