Diamond Hill Capital Management Inc

Item 5. Fees and Compensation

Compensation for Advisory Services

Diamond Hill determines its management fees for each investment strategy based on the value that we
expect to add for clients invested in that strategy over rolling five-year periods. Fees vary by investment
strategy and are generally calculated based on a percentage of AUM. Below are our separate account
standard fee schedules:

                Tier                     Small Cap           Small-Mid Cap              Mid Cap
     First $20 million                     0.90%                0.85%                    0.70%
     Above $20 million                     0.80%                0.75%                    0.60%
     Minimum Account Size                $10 million          $10 million              $10 million

                                                               Large Cap
                Tier                     Large Cap                                       Select
                                                              Concentrated
     First $20 million                     0.60%                 0.60%                   0.80%
     Above $20 million                     0.50%                 0.50%                   0.70%
     Minimum Account Size                $10 million           $10 million             $10 million

                Tier                 International
     First $50 million                   0.75%
     Above $50 million                   0.65%
     Minimum Account Size              $50 million

                                     Micro Cap                                         Long-Short
     Fee                               2.00%              Fee                            1.00%
     Minimum Account Size            $25 million          Minimum Account Size         $100 million

                                  Short Duration                                     Short Duration
                Tier                                              Tier
                                 Securitized Bond                                  Investment Grade
     First $200 million               0.45%               First $100 million             0.35%
     Above $200 million               0.35%               Above $100 million             0.25%
     Minimum Account Size          $200 million           Minimum Account Size        $100 million

                                    Securitized
                Tier
                                    Total Return
     First $100 million                0.70%
     Above $100 million                0.60%
     Minimum Account Size            $50 million

                Tier                  Core Bond              Core Plus Bond        Intermediate Bond
     First $100 million                 0.30%                    0.40%                   0.30%
     Next $100 million                  0.20%                    0.30%                   0.20%
     Above $200 million                 0.15%                    0.20%                   0.15%
     Minimum Account Size             $100 million             $100 million            $100 million

(Item 8 provides a description of the investment strategies that are available as a separate account.)

Diamond Hill reserves the right to negotiate fees and account minimums. Some clients pay more or less
than others depending on certain factors including, but not limited to, the type and size of the account, the
range of additional services provided to the client and the total amount of assets managed for a single

Diamond Hill Capital Management, LLC
Form ADV Part 2A - Disclosure Brochure           Page 6                                 May 22, 2026

client. Clients with an account value that is less than the minimums listed above may pay more than our
standard fees. The fees that we charge for investment advisory services are specified in an agreement
between Diamond Hill and each individual client.

Fee Assessment

To the extent a separate account is invested in a Diamond Hill open-end mutual fund or ETF (each, a
“Diamond Hill Fund”), no management fee is charged on the invested portion. However, these funds incur
management and other fees as disclosed in their respective prospectuses. (Item 10 provides more
information about Diamond Hill’s involvement with these funds.)

Payment of Fees

Management fees are generally billed and payable quarterly in arrears. Fees are generally based on the
value of the separate account as of the last business day of the quarter (or average of the month-end
values) and are normally adjusted for material cash flows. When an account is opened or terminated, the
fee is prorated to the opening or termination date. Diamond Hill provides clients with fee invoices that
contain the amount of the fee, the value of the assets in the account on which the fee was based and the
fee calculation.

If authorized by a particular client, Diamond Hill will instruct the client’s custodian to deduct Diamond Hill’s
management fees directly from the client’s custodian account. In this situation, Diamond Hill will send a
copy of the invoice details directly to the client and the custodian, unless we have received instructions from
a client stating they do not want to receive copies of invoices. It is Diamond Hill’s understanding, as
communicated to the client and its custodian, that the custodian sends quarterly (or more frequent)
statements directly to the client or its representative showing all assets and transactions in the account,
including fees paid to Diamond Hill.

Other Fees or Expenses

Clients pay other expenses in addition to the fees paid to Diamond Hill. For example, clients pay brokerage
commissions, transaction fees, custodial fees, transfer taxes, wire transfer fees and other fees and taxes
charged to brokerage or custodial accounts and securities transactions, which are unrelated to the fees
collected by Diamond Hill. (Item 12 provides more information on our brokerage practices.)
...

Item 7: Types of Clients

Diamond Hill provides investment management services to a wide variety of clients, including institutions,
registered investment companies (open-end mutual funds, a closed-end registered investment company,
and an ETF), a private fund, CITs, financial institutions, financial intermediaries, annuity funds, other pooled
investment vehicles including sub-advised funds, charitable institutions, high-net-worth investors,
foundations, trusts, state and municipal government entities, endowment funds, insurance companies,
corporations, hospitals, corporate pension and profit-sharing plans and Taft-Hartley plans. Diamond Hill

  A performance-based fee is an advisory fee based on a percentage of capital gains on, or capital
appreciation of, client assets. Performance-based fees paid to investment advisers can be significantly
higher than fixed asset-based fees paid on traditional accounts.

Diamond Hill Capital Management, LLC
Form ADV Part 2A - Disclosure Brochure           Page 8                                      May 22, 2026

also offers investment advisory services either directly or indirectly to the clients of wrap program sponsors.
Item 4 provides a discussion on wrap fee programs. Item 5 provides a discussion on our fees and account
minimum sizes.