Dana Investment Advisors Inc

Item 5           Fees and Compensation

For accounts in the Midcap Value, Small Cap Value, and SMID Cap Value strategies, fees will typically
be computed, billed, and made payable quarterly in arrears. For all other strategies, fees will typically be
computed, billed, and made payable quarterly in advance. All fee billing will be based upon the valuation
of all client assets under Dana’s management as of the last business day of the applicable calendar quarter
end, or on the client’s inception date when applicable.

All assets in any form under Dana’s supervision are considered in the computation of fees. Money invested in
cash balances, money market assets, client-directed assets, notes, and accrued income will be included.

In computing the combined market value of a client’s account, each security listed on any national securities
exchange shall be valued at the last quoted sale price on the valuation date of the principal exchange on which
such security is traded. Any other security or asset shall be valued in a manner determined in good faith by
Dana to reflect its fair market value.

Dana obtains prices on exchange traded securities from independent third-party pricing services on a daily
basis. All other securities are priced at least monthly. Generally, fixed income securities are priced at month
end using round-lot pricing provided by independent pricing services deemed reliable. At times, actual
prices for odd-lot fixed income holdings may differ from those round-lot prices received by Dana. In
addition, prices received by Dana may differ from time to time with prices reported on client custodial
statements. When monthly pricing data is received, Dana portfolio managers review the pricing by

                                     Dana Investment Advisors, Inc.
                                          Form ADV Part 2A
                                            March 24, 2026

considering numerous factors including prior month-end price, recent trade activity, change in credit
quality, change in yield spread, change in prepayment rate, change in yield curve rates, and overall market
sentiment. Month-end pricing results, and the accrual of income from all sources, are also used to compile
client investment performance and to calculate and bill Dana’s investment management fees quarterly.

Dana’s investment management fees for equity, fixed income, balanced, and wealth management accounts are
currently calculated at the below annual rates, however, Dana’s investment management fees may vary based
upon the differences in size, composition and servicing needs of client accounts.

                                                                     Small Cap, Catholic Small Cap &
                All Other Equity and Balanced Strategies
                                                                        Concentrated Small Cap
              First       $10,000,000    0.75% per year        First       $10,000,000 0.75% per year
              Next        $15,000,000    0.65% per year        Next        $15,000,000 0.70% per year
              Over        $25,000,000    0.50% per year        Over        $25,000,000 0.65% per year

                Carbon Sensitive ESG, Catholic & Social
                                                                          Preferred Income
                             ESG Equity
              First     $10,000,000 0.75% per year             First      $3,000,000   0.45% per year
              Next      $15,000,000 0.65% per year             Next       $7,000,000   0.40% per year
              Over      $25,000,000 0.60% per year             Over      $10,000,000   0.35% per year

                          Midcap Value Equity                  Small Cap Value & SMID Cap Value Equity
              First      $100,000,000 0.75% per year           First     $50,000,000 0.75% per year
              Over       $100,000,000 0.60% per year           Over      $50,000,000 0.60% per year

                      Intermediate & Social ESG Bond             Municipal Bond & Municipal ETF Bond
              First         $3,000,000 0.30% per year          First       $3,000,000 0.35% per year
              Next          $7,000,000 0.25% per year          Next        $7,000,000 0.25% per year
              Over         $10,000,000 0.20% per year          Over       $10,000,000 0.20% per year

                          Limited Volatility Bond                       Wealth Management
              First         $3,000,000 0.30% per year          First     $1,000,000 1.00% per year
              Next          $7,000,000 0.25% per year          Next      $4,000,000 0.80% per year
              Next         $15,000,000 0.20% per year          Over      $5,000,000 0.70% per year
              Over         $25,000,000 0.15% per year

All fees are subject to adjustment with a thirty (30) day prior notification being sent to clients. Dana charges
no other fees, such as acceptance or termination fees. The fee schedule shown above is Dana’s current fee
schedule for new accounts. Fees may be negotiable for accounts of substantial size or efficiency. Clients
determine whether fees are directly deducted from their account(s) or whether they prefer to be billed and pay
fees from other sources.

In addition to the fee schedule described above, clients may also incur brokerage, securities exchange and other
similar trading related costs, custodian fees, and expenses related to investments in open-end, closed-end, and
exchange-traded mutual funds. For more information, see Item 12 regarding Brokerage Practices. Clients
invested with Dana through a third party wrap fee program will generally pay fees only to the program sponsor
and not to Dana directly. The wrap fee program sponsor will then pay Dana the applicable management fee
that is described in the wrap fee program disclosure documents, which may be different from Dana’s stated
investment management fees listed above.
...

Item 7            Types of Clients

Generally, Dana’s client base consists of qualified pension and profit-sharing plans, Taft Hartley plans,
unions, financial institutions such as banks and credit unions, insurance companies, public sector entities
such as cities and counties, health care facilities, corporations, churches, cemeteries, faith-based
organizations, charitable foundations and other charitable associations, and certain high net worth
individuals.

Dana’s targeted minimum account size varies depending upon the desired investment strategy as shown
below. However, Dana may waive the minimum account size requirement in certain circumstances.

                                                                                 Targeted Minimum
                                          Strategy
                                                                                    Account Size
               Midcap Value, Small Cap Value, and SMID Cap Value Equity              $10,000,000
               All other equity and Preferred Income strategies                      $1,000,000
               All bond strategies                                                   $3,000,000

                                     Dana Investment Advisors, Inc.
                                          Form ADV Part 2A
                                            March 24, 2026