DWS Investments Australia Limited

Item 5 / Fees and Compensation

Fee Schedules, Account Minimums and Payment Arrangements
DIAL’s general policy is to assess client fees according to the current fee schedule of the investment strategy in which they are
invested. Actual fees, minimum fees and minimum accounts size may vary depending on the circumstances of a particular client,
additional or differing levels of servicing, or as otherwise agreed with specific clients. The specific terms and other conditions of
client fees are set forth in the applicable governing documents, side letters and/or fee agreements.

Our investment management fees are calculated based on the quarter end value of the account, in accordance with the client’s
investment management agreement. Fees can be charged in advance or arrears based upon the frequency dictated in the client’s
Investment Management Agreement (IMA) and generally based on one-fourth of the annual amount. DIAL also enters into
performance-based fee arrangements with eligible clients either directly or indirectly through an affiliated sub-advisory
relationship. Fees are negotiable and DIAL may also charge a lower fee depending on the relationship with a particular client, or for
any other reason in DIAL’s discretion.

Fees are normally payable quarterly or monthly in arrears based on the quarter or month end value, as applicable. DIAL generally
does not debit management fees directly from the client account; we render invoices in accordance with fee schedules.

Typically, DIAL does not impose multiple advisory fees when an advisory client’s assets are invested in an affiliated investment
vehicle. Specifically, client holdings of investment companies advised or sub-advised by DIAL and held in a separately managed
account are excluded from the basis of DIAL’s fee computation.

In addition to paying advisory fees, clients may pay brokerage commissions, mark-ups, mark-downs and/or other commission
equivalents related to transactions in their advisory accounts. See Item 12 – Brokerage Practices for more information.

DIAL faces a conflict of interest when allocating assets between pooled investment vehicles and separately managed accounts
because of different fee structures. DIAL has policies and procedures reasonably designed to appropriately identify and manage the
conflicts of interest described above. For additional information regarding the investment allocation, please see Item 11 Code of
Ethics, Participation in Client Transactions and Personal Trading

Termination Arrangements
An advisory relationship with a client is generally terminable at will by either party. Certain agreements may require a notice
period before the termination becomes effective. In addition, some agreements may require certain events to occur prior to the
termination of the investment advisory relationship. Furthermore, certain agreements may also stipulate that DIAL may not resign
as investment adviser until a successor has been appointed. In the event of termination, investment advisory fees are prorated to
the date of termination and, to the extent they have been paid for periods beyond the date of termination, the fees are refunded to
the client.

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Form ADV Part 2A
DWS Investment Australia Limited

Registered Investment Companies/Pooled Vehicles
DIAL acts as an investment sub-adviser to certain U.S. registered investment companies. With respect to U.S. registered investment
companies, each U.S. registered investment company's prospectus sets forth the applicable fees and expenses. DIAL also acts as a
sub-adviser to unregistered U.S. and non-U.S. pooled investment vehicles and commingled private funds. With respect to such
unregistered pooled investment vehicles advised by DIAL, please refer to the applicable private placement memorandum (“PPM”),
offering memorandum and/or other governing document that describes the applicable fees and expenses.

Compensation of Supervised Persons
Supervised persons do not earn commissions for the sale of securities or other investment products; rather, DIAL’s supervised
persons receive a base salary along with an annual discretionary bonus. The bonus is based upon factors that include but are not
limited to: profitability of DWS KGaA and its affiliates, DIAL’s businesses, and contributions of that individual to the success of DWS
Group and DIAL-related businesses.

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Form ADV Part 2A
DWS Investment Australia Limited

Item 7 / Types of Clients

Via sub-advisory arrangements, DIAL may provide investment sub-advisory services to a range of institutional and private clients
on a global basis, as follows:
— Government/public entities;
— International public authorities;
— Banks or thrift institutions;
— Pension and profit-sharing plans, including those covered under the Employee Retirement Income Security Act of 1974, as
  amended (“ERISA”);
— Religious organizations;
— Colleges and universities;
— Foundations and endowments;
— Trusts, estates, or charitable organizations;
— Insurance companies; and
— Corporations or business entities.

 With regard to transactions for clients that are subject to the ERISA, DWS may rely on various Prohibited Transaction Exemptions
(“PTEs”) available under ERISA, including with respect to certain of its affiliates, PTE 84-14, which is only available to qualified
professional asset managers (the “QPAM Class Exemption”). Because of Deutsche Bank Group’s past criminal conviction in the
LIBOR matter, which did not involve asset management activities, DIAL, together with DWS Investment Americas, Inc., DWS
Alternatives Global Limited, and RREEF America LLC (collectively, the “DWS QPAMs”), has been required to seek an individual
QPAM exemption to avoid disqualification from relying on the QPAM Class Exemption. In April 2024, the U.S. Department of Labor
(“DOL”) extended the DWS QPAMs’ individual QPAM exemption (“PTE 2024-02”). PTE 2024-02 is now scheduled to expire on
April 17, 2027, but may terminate earlier if, among other things, DIAL, its affiliates or any owner, direct or indirect, of a five percent
or more interest in DIAL, were to be convicted of crimes or were to engage in conduct set forth in the QPAM Class Exemption in
other matters. Under PTE 2024-02, DIAL’s ERISA clients have a right, among other rights, to obtain a copy of the summary of the
written policies developed in connection with the exemption.

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Form ADV Part 2A
DWS Investment Australia Limited