DSM Capital Partners LLC

ITEM 5 – FEES AND COMPENSATION

In general, the fee that a client pays to DSM will be a percentage of the market value of the assets in the
client’s account on the last trading day of each calendar quarter by using market quotations when they are
readily available. When market quotations are not readily available (or as otherwise determined by
DSM), the securities held in client accounts are to be fair valued in good faith by DSM.

Fees are typically payable at the end of each quarter for DSM’s services during the prior three months.
Some clients pay fees in advance (payment at the beginning of each quarter for services during the
upcoming three months). For certain client accounts, DSM will directly debit fees pursuant to the specific
terms in its agreement with the client. In the case of capital flows during a given quarter that exceed 10%
of the market value of the account, the fee will be pro-rated based on the number of days after an addition
or prior to a withdrawal (unless the adjustment is deemed de minimis by DSM). Accounts initiated or
terminated during a calendar quarter will be charged a prorated fee (with the exception of de minimis
amounts). Upon termination of any account, any prepaid, unearned fees will be refunded, and any earned,
unpaid fees will be due and payable.

Substantial consultant relationships, wrap-fee programs, including “dual-contract” wrap programs, pooled
investment vehicles, sub-advisory structures, clients in certain foreign countries, and other client
situations including, but not limited to, those with performance-based fees, are negotiable or vary and are
excluded from the fee schedules described in this section. DSM, in its discretion, groups certain client
accounts for the purpose of achieving the minimum account size and/or for determining the annualized
fee. DSM can add an additional fee tier for a very large account which, historically, has then applied to
all clients in the strategy. In addition, DSM typically has “seed” investors in its model investment
strategies, including but not limited to, the Large Cap Growth strategy, Global Focus Growth strategy,
Runway strategy, Express strategy as well as in new model investment strategies who pay a fee rate less
than that shown below.

Certain investment advisory contracts also have “most favored nation” provisions, which allow clients
who meet certain criteria and characterizations (including, among other things, type of client, timing and
size of investment made, and legacy status of client) to elect certain terms, rights, or fees. DSM, in its
sole discretion, shall determine whether a client meets the necessary criteria and characterization to elect
terms, rights or fees under any “most favored nation” provision. Except as otherwise agreed with a client,
DSM is not required to disclose the terms of investment advisory contracts with other clients. In addition,
DSM may enter into certain side letter arrangements with certain investors in US and non-US pooled
investment vehicles or other vehicles not required to be registered under applicable regulations
(commonly referred to as “Private Funds”) providing such investors with different or preferential rights,
terms, including, but not limited to, different management fees, waiver of minimum contributions and
interest charges, agreeing to different admission dates, withdrawal dates, notice periods, other restrictions,
and permitting the revocation of withdrawal notices. Except as otherwise agreed with an investor or
required by law, DSM is not required to disclose the terms of side letter arrangements with other
investors, inform any client or investor of more favorable fee arrangements or other preferential terms
provided to another client or investor or to offer another client or investor equally favorable terms.

Separately Managed Accounts
In its sole discretion, DSM can elect to reduce, waive, or calculate differently the fees payable by clients
that are employees of DSM, relatives of such persons, or personal acquaintances of such persons. Clients
should note that similar advisory services could be available from other investment advisers for similar or
lower fees. DSM’s fees are exclusive of brokerage commissions, transaction fees, and other related costs
and expenses which are incurred by a client. A client will incur charges imposed by custodians, broker-
dealers, third party investments or other parties such as fees charged by other managers, deferred sales

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charges, transfer taxes, wire transfer and electronic fund fees, and other fees and taxes on brokerage
accounts and securities transactions.

For certain clients, fees payable to DSM will be directly debited from a client’s advisory account. Each
quarter, such a client will receive a statement from their custodian showing all transactions in their
account, including DSM’s fee. DSM encourages all clients to check these statements for accuracy. DSM
will send invoices to those other clients whose accounts are held at other custodians where DSM does not
directly debit fees from the clients advisory account. Such clients may pay their fee by wire transfer or
check upon receipt of an invoice

Global Growth
The annualized fee for a separately managed account in the Global Growth strategy will be charged as a
percentage of assets under management according to the schedule below:

                AUM                                                        Annualized Fee

                First    USD 25 million                                    0.65%
                From     USD >25 million to USD 50 million                 0.60%
                From     USD >50 million to USD 100 million                0.55%
                From     USD >100 million to USD 200 million               0.50%
                Over     USD 200 million                                   0.45%
...

ITEM 7 – TYPES OF CLIENTS

DSM provides investment advice to individuals, banks, thrift institutions, investment companies, pension
and profit-sharing plans, trusts, estates, charitable organizations, corporations, or other business entities.
As noted in Item 4, DSM also provides investment advice to US and non-US pooled investment vehicles.
DSM could recommend that clients who meet the investor qualification standards for these vehicles invest
if appropriate. Clients solely determine whether a particular pooled investment vehicle presents them
with tax consequences or reporting requirements. Clients and potential clients in any pooled investment
vehicle should refer to the vehicle’s offering documents regarding the types of investments utilized in
managing the vehicle’s assets as well as the associated risks of such vehicles.

Conditions for Managing a Separate Account
The minimum amount required to open a separately managed account under the US Large Cap Growth
strategy and Runway Strategy is USD 1,500,000, subject to DSM’s discretion. The minimum amount
required to open a separately managed account under the Global Growth strategy, the Global Focus
Growth strategy, and the Dividend Growth strategy is USD 5,000,000, subject to DSM’s discretion.
DSM also has discretion to group certain client accounts for the purposes of achieving the minimum
account size and/or for determining the annualized fee.

Conditions for Pooled Investment Vehicles
There is a minimum required investment of USD 1,000,000, subject to DSM’s discretion, for the DSM
All World Growth Trust. There is a minimum required investment of USD/Euro 25,000, 1,000,000 AUD,
and 100,000,000 JPY, subject to DSM’s discretion, for the DSM Capital Partners Funds (SICAV). There
is no stated minimum investment for the DSM US Large Cap Growth CIF.

Conditions for Wrap-Fee Programs
DSM generally requires a minimum investment of USD 100,000 per client in a wrap-fee program. Wrap-
fee Sponsors could allocate accounts below this amount to DSM; however, DSM can determine not to
accept any wrap-fee account for any reason. Clients in wrap-fee programs should refer to the Sponsor’s
brochure for information on minimum account size requirements or any other conditions for participation
in a wrap-fee program.

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