Connor Clark & Lunn Investment Management Ltd

5.     FEES AND COMPENSATION

DESCRIPTION
CC&L charges its clients an “investment management fee” based on a percentage of assets under
management. All client contracts will include a fee schedule agreed to by the client and CC&L. Clients are
charged according to the standard fee schedules for standard client mandates subject to negotiation with
each client. Clients with different mandates may have a different fee schedule. In addition, performance fees
or allocations may be charged to the fund or account clients, in accordance with the governing documents
of the applicable fund and/or the written agreement between CC&L and the account client, as applicable.
Fees are negotiable, but may be subject to contractual restrictions on CC&L from existing clients.

Firm Brochure                                                                                                   6

 CONNOR, CLARK & LUNN INVESTMENT MANAGEMENT LTD.

FEE BILLING
Investment management fees for accounts are typically billed quarterly, in arrears but in a limited number
of cases, clients are billed monthly or annually. In a limited number of cases, clients are billed in advance.
Payment in full is expected within 30 days of receipt of the invoice. Fees may be deducted from a client’s
account if the client has provided written instruction to their custodian to accept invoices directly from
CC&L.
Fees payable by a fund will be paid by the deduction of such fees from the fund’s assets, and the timing and
frequency of such payments will be set forth in the fund’s governing documents.

OTHER FEES
Custodians may charge transaction fees on purchases or sales of certain securities and pooled investment
vehicle units. Transactions are also subject to transaction costs as outlined in Section 7.
See Section 4 for a discussion of the fees associated with wrap fee managed account programs advised by
CC&L. The wrap fee program sponsor’s brochure, or equivalent, will describe the amount or the range of
fees the sponsor pays to CC&L.

PAST DUE ACCOUNTS
CC&L will charge interest on overdue accounts at a rate of 2% per month (24% per annum).