Eventide Asset Management LLC

Item 5 – Fees and Compensation
        Even de’s fee schedules vary from product to product based on a variety of factors, including but not
        limited to, the por olio manager, investment vehicle, strategy, degree of servicing required, and
        marketplace condi ons. Even de charges a performance-based fee to investors in its Private Funds
        that are “qualified clients,” as defined by Rule 205-3 under the Investment Advisers Act of 1940 (the
        “Advisers Act”). For more informa on on Even de’s performance-based fee, please see Item 6 -
        Performance-Based Fees and Side-By-Side Management.

        As of the date of this Firm Brochure, Even de is paid a management fee from each Mutual Fund, the
        Private Funds, each ETF, and SMA, as described more fully below. For Managed Account Program or
        Non-Discre onary Accounts inves ng in Even de’s SMA strategies, Even de is paid a por on of the
        wrap or UMA fee, as applicable. For more informa on on the fee structure associated with each
        strategy and product, please see below.

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FIRM BROCHURE                                                                                                    March 27, 2026

        Mutual Funds
        Even de is paid a monthly management fee for providing investment advisory services to the Mutual
        Funds based on the average daily net assets of each Mutual Fund as described in each Mutual Fund’s
        Prospectus. For certain Mutual Funds, Even de employs a sub-adviser to provide day-to-day
        management of all or a por on of a Mutual Fund’s assets, and Even de pays management fees to the
        sub-adviser. Even de has contractually agreed to waive fees and/or reimburse certain of the Mutual
        Funds’ expenses above a specified limit and Even de retains the ability to be repaid these amounts
        by the Mutual Funds as explained in each Mutual Fund’s prospectus. Such reimbursement
        arrangements can reduce a Mutual Fund’s payments for opera ng expenses and enhance its
        performance. Even de can also discon nue such reimbursement arrangements. Addi onal
        informa on regarding each Mutual Fund’s management fee and opera ng expenses is available in
        the applicable prospectus at even defunds.com.

        When investors access Even de’s investment services through the Mutual Funds, they generally
        purchase or sell Mutual Fund shares through financial intermediaries that are not affiliated with
        Even de. Even de pays, from its legi mate profits, servicing and/or distribu on fees to certain
        financial intermediaries who introduce, purchase, educate, or provide informa on about the Mutual
        Funds to their clients, pursuant to an agreement with Even de. Such servicing and/or revenue-sharing
        arrangements can differ with each financial intermediary, and transac ons in the Mutual Funds
        through a par cular intermediary can result in more or less profit to Even de depending on the
        agreement in place.

        The Private Funds
        Even de is paid a management fee of 2% per annum for providing investment advisory services to
        each Private Fund. This management fee is based on the amount of commi ed capital during the
        investment period of the Private Fund, and on the amount of invested capital therea er. As described
        below in Item 6, each Private Fund is subject to a performance fee.

        Even de in its sole discre on can choose to waive or reduce certain fees for par cular investors,
        including waiving or charging lower management and/or performance fees for the Private Funds, or
        waiving catch-up interest provisions that would otherwise be applied to Private Fund investors.
        Even de can also waive account minimums for investors in its sole discre on, including Even de
        employees, por olio managers, affiliates or rela ves of such persons.

        Some investors in a Private Fund could enter into side le er agreements (“Side Le ers”) with Even de
        providing such investors with lower management fees or performance fees and other more favorable
        terms than other investors. Side Le ers can grant an investor addi onal vo ng or informa on rights
        concerning the Private Fund, such as access to commi ee mee ngs or other informa on that is not

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FIRM BROCHURE                                                                                                    March 27, 2026

        available to other investors. Side Le ers might also grant specific rights such as a right to make future
        co-investments alongside the Private Fund or en tle investors to share in a percentage of the
        performance fee. Side Le ers could also grant most favored na on (“MFN”) rights that allow an
        investor to elect to receive terms nego ated by other investors. Even de is not required to inform
        investors of Side Le ers or offer preferen al terms to all investors in a Private Fund. As such, certain
        terms available to one or more investors in a Private Fund are not available to all investors in that
        Private Fund.

        Investors in a Private Fund pay expenses in addi on to management fees and performance fees. As
        referenced in the applicable Private Fund documents and agreements, such expenses include, but are
        not limited to (i) organiza onal and forma on expenses, including costs, liabili es and obliga ons
        incurred to form the Private Fund and its general partner, and to offer Private Fund interests (including
...

Item 7 – Types of Clients
        As described in Item 4, Even de provides values-based investment advisory services and products to
        a diverse client base on both a discre onary and non-discre onary basis.

        As of the date of this Firm Brochure, Even de’s ins tu onal clients include pooled investment funds
        such as the Mutual Funds, the Private Funds and the ETFs. Even de also offers its investment advisory
        services to ins tu onal clients, including pension and profit-sharing plans, charitable founda ons,
        endowments, corpora ons, and other en es eligible to invest in its SMAs on a discre onary basis.

        Even de provides investment advisory services through various managed account programs
        sponsored by third par es. Examples include wrap account programs and so-called “dual contract”
        arrangements in which end-clients access SMA strategies by contrac ng with their program sponsor
        and with money managers such as Even de. Even de generally provides investment strategies to
        these clients by delivering model-based por olios directly to the program sponsor for
        implementa on. Managed account programs generally serve a range of client types, including
        ins tu ons and retail investors (e.g., en es and individuals). Program sponsors generally define
        requirements for trade implementa on within their respec ve pla orms. In some cases, Even de
        provides updated SMA por olios to third-party financial intermediaries or program sponsors that
        maintain full investment and trading discre on over transac ons in their client accounts, including
        determining whether to implement all, some, or none of the securi es recommended by Even de.

        Even de’s clients may include investors with re rement assets or pension plan clients that are
        covered under the Employee Re rement Income Security Act of 1974 (ERISA). Even de may be
        considered a “fiduciary” under ERISA in certain scenarios. Pursuant to both Even de’s fiduciary status
        as a SEC registered investment adviser and a fiduciary under ERISA, Even de must make

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FIRM BROCHURE                                                                                                    March 27, 2026

        recommenda ons to its clients regarding their re rement assets that are in the best interests of the
        client.

        For clients      that contract directly with Even de, Even de generally collects iden fica on
        documenta       on and conducts other iden fica on verifica on procedures, including screening clients
        against mul     ple jurisdic onal sanc on lists, such as the Specifically Designated Na onals and Blocked
        Persons list    maintained by the U.S. Department of the Treasury’s Office of Foreign Asset Control
        (OFAC).

        Requirements and investment minimums for opening and maintaining investment accounts for the
        Mutual Funds are determined by the Mutual Funds and by financial intermediaries. Private Fund
        investors must meet minimum eligibility requirements as described in applicable subscrip on
        documents, and must pass applicable iden fica on verifica on procedures. The minimum capital
        commitment for each investor in a Private Fund is generally $1 million. The Private Fund’s offering
        documents generally allow Even de to waive or reduce this minimum commitment in its sole
        discre on.

        The ETFs only offer, sell, and redeem shares on a con nuous basis at NAV in large aggregations or
        “Crea on Units.” ETF shares are not individually redeemable. The ETFs are approved for lis ng and
        trading on the NYSE Arca exchange (the “Exchange”), and are available for purchase and sale through
        a broker-dealer at market price on each day that the Exchange is open for business. The market price
        of each ETF’s shares may trade below, at, or above the most recently calculated NAV per share of the
        ETF. As is the case of other publicly traded securi es, the purchase or sale of ETF shares in the
        secondary market will be subject to brokerage commissions which will be based on negotiated
        commission rates at customary levels.

        SMA management fees, including account minimums, are generally nego ated with SMA clients on
        an individual basis. For more informa on about Even de’s fee schedules and account minimums for
        SMAs, please refer to Item 5 – Fees and CompensaƟon above.