Cutwater Investor Services Corp

Item 5: Fees and Compensation

The specific manner in which fees are charged by CISC is established in a client’s written agreement
with Insight. Fees for client accounts are generally based on the average or ending market value of
the assets under management (AUM) in client accounts on either a monthly or quarterly basis. The
AUM includes securities, cash and cash equivalents, which are valued using third-party pricing
services or by CISC when it reasonably believes third-party prices are incorrect. Fees are billed in
arrears; although some clients may pay fees in advance at their own discretion. However, CISC does
not require prepayment of advisory fees. If a client has paid fees in advance, and the client
terminates its account prior to the end of the accounting period, upon termination, CISC will remit to
the client the remaining prorated portion of any prepaid fees.

CISC reserves the right to negotiate minimum account sizes, which may be dependent upon various
factors, including, but not limited to, the scope of the advisory services provided, economies of scale,
a client’s total AUM across all strategies and across all accounts managed by Insight, the expectation
of future assets and any historic relationship with Insight. CISC reserves the right to negotiate
different fees with clients, which may be higher or lower than those reflected herein. Certain clients,
including employees of an Insight entity, may negotiate lower fees or be entitled to different terms and
conditions than those of other clients. A minimum fee may also apply regardless of account size.

CISC may also offer separate accounts which are subject to incentive fees or performance fees, which
are generally based on a share of capital gains on or capital appreciation of, the assets of a client.
These performance fees are generally subject to a High Water Mark. Some performance fee
arrangements are also subject to a Hurdle Rate. Any such performance fees will comply with the
applicable requirements of the Investment Advisers Act of 1940, as amended (Advisers Act) and
specifically Section 205-3 thereof (otherwise referred to as the ‘Performance Fee Rule’).

Although fees may be negotiated, CISC’s standard separate account fee schedule can be found on
the following page.

                                                                               Investment
            Strategy                                 Annual Fees
                                                                                Minimum

Fixed Income strategies

US Buy and Maintain                     0.20% on the first $100 million    $100 million
                                        0.10% thereafter

Enhanced Cash                           0.15% on the first $100 million    $100 million
                                        0.10% thereafter

Short Duration                          0.20% on the first $100 million    $100 million
                                        0.15% thereafter
US Core Fixed Income                    0.22% on the first $100 million    $100 million
                                        0.15% thereafter
US Core-Plus Fixed Income               0.30% on the first $100 million    $100 million
                                        0.20% thereafter
US Corporate                            0.25% on the first $100 million    $10 million
                                        0.17% thereafter
US Intermediate Fixed                   0.25% on the first $100 million    $100 million
Income                                  0.20% thereafter
US Long Duration                        0.25 % on the first $100 million   $100 million
                                        0.20% thereafter
US Select Income                        0. 35 the first $100 million       $100 million

                                        0.25% thereafter

Structured strategies

Asset-backed Securities                 0.50% on the first $100 million    $100 million
(Secured FCISCnce)                      0.40% thereafter

Commercial Real Estate                  0.50% on all assets                $100 million
Loans

Liability Driven Investing strategies

Liability Driven Investment             0.20% on all assets                $100 million

Separate Accounts Investing in Insight Investment Funds
If CISC invests a portion of a client’s account assets in a Mutual Fund (US SEC-registered investment
companies) or Private Fund offered by an Insight entity, the client’s account generally will not be
charged an investment management fee by Insight on the portion of their account invested in such
fund(s). However, accounts that hold such fund(s) will incur the costs related to being a shareholder or
investor in such funds, including management fees, administrative fees, and other similar fees as
described in the prospectus and/or offering memorandum. The annual total net expense ratio for a
particular fund may be higher or lower than the management fee CISC charges for that client’s separate
account.

Mutual Fund Fees
CISC provides discretionary investment management services to Mutual Funds. Each Mutual Fund’s
prospectus will include information about the fees and expenses paid by investors in each Mutual Fund,
as well as the management fees received by CISC for investment management services provided to
each Mutual Fund.

Where Insight has been appointed as a Sub-Adviser to a Mutual Fund, Insight receives
compensation for investment management services from the Mutual Fund. This compensation is
agreed with the Adviser to the Mutual Fund who may be an affiliate of Insight. Please see Item 10
for details of Insight’s affiliates.

Private Fund Fees
The applicable fees and expenses are set forth in each Private Fund’s investment advisory
agreement, subscription agreement and/or other governing documents, or the offering memorandum,
if applicable. Fees may consist of a management fee and, as applicable, an incentive fee or
...

Item 7: Types of Clients

Insight provides investment advice to a wide variety of institutional clients, including but not limited to:
US and non-US corporations, corporate pension plans, Taft-Hartley plans, public plans, charitable
institutions and foundations, municipalities, insurance companies, reinsurance companies and other
US and non-US institutions. Insight may also act as adviser and/or sub-adviser to Private Funds.

Separate Account Requirements
With respect to both CISC’s allocation of assets to Sub-Advisers and Investment Advisory Services
provided by CISC, CISC requires clients to execute a written agreement with us granting us authority
to manage their assets or exposures. There is also a minimum account size for separate accounts
which varies depending on the strategy of the account and accounts may also be subject to a
minimum account fee. CISC may consider accepting smaller accounts depending on the nature of the
client and prospective incremental funding rates or when a relationship currently exists with the client.
CISC may also elect to waive the minimum and negotiate fee rates at its sole discretion.

Mutual Funds and Private Funds

Investors in Mutual Funds and Private Funds that are managed or advised by CISC will be subject to
different minimum investments and other requirements dependent upon the particular vehicle in
which they are invested. Investors should consult the relevant offering documents for each Mutual
Fund or Private Fund for a full discussion of the requirements of that vehicle.

Requirements for the Establishment of an Account with CISC

As a subsidiary of BNY Mellon, Insight has adopted policies and procedures aimed at establishing
consistent standards and processes throughout BNY Mellon and its subsidiaries with respect to
identifying, investigating and reporting fraud, money laundering and other illegal, suspicious or
unusual activity. These policies and procedures implement minimum standards for identifying,
accepting, documenting, and approving customers. Therefore, in order to establish a relationship
with a separate account client, Insight requires certain identifying information and documentation that
will allow us to identify and verify the client.

Each Private Fund investor will be required to provide information as required by the transfer agent
and/or fund administrator to each specific Private Fund.