Copeland Capital Management LLC

Item 5 Fees and Compensation

Fees - Separately Managed Accounts

Copeland’s fees generally depend on the services that are provided and are negotiable. Copeland’s
fees are generally exclusive of, and in addition to, brokerage commissions, transaction fees,
custodian fees and other related costs and expenses which shall be incurred by the client. Except
for receipt of permissible soft dollar commissions to be used as allowed under Section 28(e) of the
Securities Exchange Act of 1934, as amended, Copeland shall not receive any portion of the
commissions, other fees, and other costs. Please refer to Item 12 of this brochure for additional
information on soft dollar commissions. Copeland’s standard advisory fees for discretionary
investment advice for the strategies we currently offer below are based on a percentage of assets
under management. However, the fees charged to separate accounts are negotiable and will
typically vary depending on a number of factors including, but not limited to: the type of client;
available capacity in the relevant strategy; whether the client wishes to impose particular
restrictions on Copeland’s discretionary investment authority (e.g., restrictions on the types of
securities that Copeland may acquire for the account); and/or the amount of client assets under
management with Copeland.

       Large Cap Dividend Growth (minimum account size $250,000)
              50 basis points

       Mid Cap Dividend Growth (minimum account size $250,000)
             60 basis points on the first $5 million
             55 basis points on the next $5 million
             50 basis points on assets above $10 million

       Smid Cap Dividend Growth (minimum account size $1,000,000)
             70 basis points on the first $5 million
             65 basis points on the next $5 million
             60 basis points on assets above $10 million

       Small Cap Dividend Growth (minimum account size $1,000,000)
              100 basis points on the first $5 million
               90 basis points on the next $5 million
               80 basis points on assets above $10 million

       Micro Cap Dividend Growth (minimum account size $10,000,000)
             200 basis points on the first $5 million
             175 basis points on the next $5 million
             150 basis points on assets above $10 million

       All Cap Dividend Growth (minimum account size $1,000,000)
              60 basis points on the first $5 million
              55 basis points on the next $5 million
              50 basis points on assets above $10 million

       International All Cap Dividend Growth (minimum account size $1,000,000)
               135 basis points on the first $50 million
               100 basis points above $50 million

       International Diversified Small Cap Dividend Growth (minimum account size
       $10,000,000)
               140 basis points on the first $5 million
               135 basis points on the next $5 million
               120 basis points on assets above $10 million

       Large Cap Dividend Growth Stop Loss (minimum account size $250,000)
              75 basis points on the first $10 million
               60 basis points on the next $15 million
               65 basis points on assets above $25 million

       Fixed Income / Balanced (minimum account size $250,000)
              100 basis points on the first $5 million
              75 basis points on the next $5 million
              65 basis points on assets above $10 million

       Global Small Cap Dividend Growth (minimum account size $1,000,000)
              140 basis points on the first $5 million
              130 basis points on the next $5 million
              120 basis points above $10 million

Fees for other types of accounts, such as Wrap Programs, Dual-Contract Programs, Model
Programs, or non-Copeland funds, differ from our standard fee schedule. We may change our fee
schedules. Copeland’s fees are negotiable. Copeland’s annual fee shall typically be pro-rated and
billed quarterly based upon the market value of the assets on the last day of the previous quarter;
or will be based on the average market value of assets for the previous quarter for certain clients’
accounts. The fee for the initial quarter of services shall be pro-rated and charged in arrears, while
subsequent fees will be charged either in advance or in arrears as allowed by the investment
management agreement. After an account is established, fees on deposits or withdrawals may be
prorated, depending on the specific circumstances and at the sole discretion of Copeland.
Copeland, in its sole discretion, may negotiate to charge a greater or lesser management fee based
upon certain criteria (e.g., anticipated future earning capacity, anticipated future additional assets,
dollar amount of assets to be managed, related accounts, account composition, pre-existing client,
account retention, etc.). Either party may terminate the advisory relationship at any time by giving
the other written notice of termination or as provided in the investment management agreement.
Fees paid in advance will be pro-rated to the date of termination, and any unearned portion thereof
will be promptly returned to the client.

Copeland’s agreement with the client and/or the separate agreement with the client’s custodian
may authorize Copeland, through the custodian, to debit the client’s account for Copeland’s fee
and to directly remit that management fee to Copeland in accordance with applicable custody rules.
The clients’ custodians have agreed to send a statement to each client, at least quarterly, indicating
all amounts disbursed from the account including the amount of management fees paid directly to
Copeland. Copeland will also bill clients for fees incurred. Generally, how a client is billed for

fees incurred (i.e., deduct fees from assets or client bill) depends on the type of client or program
through which our services are provided.
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Item 7 Types of Clients

We provide our services to several different types of clients and solicit our services to others,
which may include, but are not limited to, the following categories:

      Individuals, including high net worth individuals

      Trusts, estates and charitable organizations

      Pension and profit-sharing plans

      Corporations or other business entities

      Foundations & endowments

      Investment companies

      Taft-Hartley / Union Advisory accounts

      Governmental plans, municipalities

      Pooled investment vehicle

Conditions for Managing Accounts

Notification of Deposits
Copeland requests that the client, broker and/or custodian of any Copeland account notify
Copeland of all investable cash in advance so the funds can receive timely investing. In situations
where Copeland finds out about a deposit via the brokerage statement or in some other manner
which is not timely, Copeland will consider the cash as unsupervised from the date the cash was
deposited in the Copeland account until the date Copeland became aware of the investable cash
via its reconciliation procedures or some other means.

Notification of Withdrawals / Raising Cash
Copeland requires notification from the client, broker and/or custodian of all cash withdrawals
from any Copeland account. Copeland will raise cash following receipt of the withdrawal notice
and the cash will remain in the Copeland account as unsupervised until it is withdrawn by the
client. Copeland encourages the client to withdraw the cash from the Copeland account in a timely
manner.

Investment Strategy Changes
Any requests to change the Copeland account’s investment strategy, other than sub-advisory
accounts, must be promptly received by Copeland in writing (or by phone followed up in writing)
from the client or their representative/intermediary and requires the client’s signature or the
signature of an authorized party. The investment adviser to the sub-advisory accounts must also
promptly notify Copeland in writing (or by phone followed up in writing) of any request to change
the investment strategy.

Investment Restrictions

Equity restrictions - may include, but are not limited to, legal, market capitalization, industry
concentration, dividend yield, specific stocks, etc.
Fixed Income restrictions - may include, but are not limited to, maturity length, yield, credit
quality, liquidity, instrument type, etc.

If the restrictions cause Copeland to not be able to purchase a security, Copeland may purchase
additional amounts of unrestricted security holdings. From time to time, this process will result in
a security, industry and/or sector weighting that materially exceeds those of Copeland’s
unrestricted accounts, thus affecting the risk/return characteristics of the Copeland account.
Account restrictions may also prevent an account from being included in strategy composites.
Copeland reserves the right to reject or terminate any Copeland account it deems overly restrictive.

ACATing and Other Account Changes
By request, or at its own discretion, Copeland may suspend trading in a Copeland account for
temporary purpose due to, but not limited to, the following reasons or until Copeland receives what
it considers is proper notification to resume trading: account name and number changes, asset
allocation changes, address change followed by a withdrawal request, custodian changes
(ACATs), and error research and corrections.

Accounts “On Hold”
For clients investing in Copeland investment strategies through sponsored programs that have
placed the client’s account “on hold” or otherwise halted the account (i.e., due to incomplete
account paperwork, or other issues occurring at the sponsor), Copeland will generally be unable
to manage such account while it is halted at the direction of the sponsor. Sponsor-imposed account
halts may cause the account’s performance to vary materially from other accounts managed in the
same investment strategy. Copeland has procedures in place that require continual review and
monitoring of all accounts. Additionally, Copeland provides all clients with periodic reports that
include their account performance, holdings, and activity.

Margin Accounts

Copeland accounts: It is Copeland’s general policy not to accept any Copeland accounts on
margin. If an existing Copeland account goes to margin status, the Copeland account may be
terminated at Copeland’s discretion.

Copeland Sub-Advisory Accounts: Some of the sponsored programs that Copeland participates
in as a sub-adviser may occasionally permit the use of margin in accounts. While Copeland
discourages the use of margin, the ultimate decision rests with the adviser and the client, Copeland
will continue to sub-advise the account so long as the margin status does not affect Copeland’s
ability to effectively manage the Copeland account. If the margin status affects the management
of the Copeland account, the Copeland account may be terminated at Copeland’s discretion.

Copeland will bill its advisory fees based on the margin account’s market value, including the
account’s margin value, and will earn higher fees for accounts with higher margin values, which

may not be in the client’s best interests. Thus, clients with margin accounts are encouraged to
regularly review their margin account balances.

Death or Disability
The death, disability, or incompetency of an advisory client will not terminate or change the terms
of the client’s investment advisory agreement. However, in the event of an advisory client’s death,
permanent disability or incompetency, the client’s executor, guardian, attorney-in-fact or other
authorized representative, upon receipt of proof of status as such, may terminate the client’s
investment advisory agreement by giving written notice to Copeland, with such termination being
effective upon Copeland’s receipt of such notice, unless a later date is specified in the termination
letter.
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