Evermore Global Advisors LLC

FEES AND COMPENSATION

The following information describes how Evermore is compensated for the advisory services it provides
to each type of client account. Evermore imposes investment minimums on certain types of accounts,
which is discussed in Item 7 below.

Advisory Fees for the Fund
The Fund pays Evermore a 0.99% annualized advisory fee based on the Fund’s average daily net assets.
Management fees are accrued on a daily basis and remitted to the Adviser by the Fund’s administrator on
a monthly basis. As such, advisory fees are deducted from the Fund’s assets and are paid monthly in
arrears. The Fund’s annual advisory fee is not negotiable by individual Fund clients, but is reviewed by
the Trust’s Board of Trustees at least annually.

In addition to advisory fees, the Fund is responsible for certain other expenses including, but not limited
to, expenses related to fund administration, fund accounting, compliance, legal, custody, transfer agency,
distribution, payments to the Trust’s independent Board of Trustees, and brokerage (see Item 12 below).

Additional information about the fees charged to the Fund is available in the Fund’s prospectus, which is
publicly available on Evermore’s website (www.evermoreglobal.com), on EDGAR on the SEC’s website
(www.sec.gov) or by contacting the Fund’s administrator, U.S. Bank Global Fund Services, LLC (“USBGFS”),
at 1-866-383-7667.

Advisory Fees for Institutional Separate Accounts
When Evermore enters into an investment advisory agreement to provide investment management
services to an Institutional Separate Account, Evermore will charge each separate account a fee at an
annual percentage rate of the account’s assets under management. Evermore’s standard fee rate for
separate accounts is 1.00% per annum, however, the fees charged to separate accounts are negotiable
and will typically vary depending on a number of factors including, but not limited to:

    •   The type of client
    •   The amount of client assets under management with Evermore

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    •   The investment term to which the client commits
    •   The types of restrictions the client plans to impose on Evermore’s discretionary investment
        authority (e.g., restrictions on the types and amounts of securities Evermore may acquire for the
        account)

Depending on the specific circumstances, advisory fees are payable quarterly in advance or in arrears.
Evermore will either (1) invoice the client at the beginning of each quarter based on their account’s market
value as of the last day of the previous quarter or (2) invoice the client approximately 15 days after the
end of each quarter based on their account’s market value on the last day of the quarter.

The fees shown above do not include fees that an Institutional Separate Account client pays to other third
party service providers, such as custodian, administrator, brokerage (see Item 12 below) and exchange
fees.

Although Evermore’s current fee schedule for Institutional Separate Accounts shown above does not
include an incentive (performance) fee component, certain institutional clients might require that an
incentive fee be part of the overall compensation paid to the Adviser for its services. We currently manage
highly concentrated separate accounts designed to hold one to several large positions for which clients
pay Evermore annual management fees and/or performance fees. Evermore conforms to its Trading,
Allocation and Aggregation policies and procedures to address conflicts arising from side by side
management of non-incentive fee paying accounts and incentive-fee paying accounts (see Item 6).

Fees for Model Accounts
As discussed in Item 4, Evermore receives a percentage of the total assets invested by the Other Advisor’s
clients into the strategy for which our Model Portfolio is used. This fee is calculated by the Other Advisor
and paid to us on a quarterly basis in arrears.

General Information about Fees
Refunds of Pre-Paid and Unearned Advisory Fees. Evermore’s investment advisory agreements with
clients may typically be terminated at any time by either party upon written notice to the other party. If
an investment advisory agreement is terminated, Evermore will refund to the client any unearned and
pre-paid advisory fees.

Portfolio Valuations for Fee Calculations. For purposes of calculating the amount of any asset-based fee
owed and payable to Evermore, the following methods are used for each client type:

    •   The Fund. The net asset value of the Fund is calculated each day that the New York Stock
        Exchange is open for business, based on data provided by the Fund’s custodian bank (U.S. Bank
        N.A.), administrator (USBGFS), accountant (USBGFS), transfer agent (USBGFS), and independent
        third party pricing vendors, as more fully described in the Fund’s prospectus and reports to

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        shareholders. A Fund’s net asset value is calculated by adding the fair market value of the Fund’s
        investments and cash and other assets, and by subtracting the liabilities of the Fund.

    •   Institutional Separate Accounts. As set forth in the investment advisory agreements with
        Evermore, portfolio valuations are generally determined by the client’s custodian.

Neither Evermore nor any of Evermore’s supervised persons accepts compensation for the sale of
securities or other investment products. Evermore’s sales team receives commissions based on quarter-
end assets for Evermore’s Institutional Separate Accounts.

TYPES OF CLIENTS

The following information describes the types of clients for which Evermore provides investment
management services. Where relevant, this disclosure also includes information about the minimum
account size necessary to open and maintain each type of client account. See Item 5 above for a discussion
of how Evermore is compensated for managing each of the following types of accounts.

The RBB Fund Trust. Evermore is the investment adviser to Evermore Global Value Fund, a series of The
RBB Fund Trust (the “Trust”), an open-end management investment company registered with the SEC
under the Investment Company Act of 1940. Evermore utilizes its special situations strategy for the Fund
by investing in securities across the globe.

The Fund offers investors two share classes – an Investor Class and an Institutional Class. The Fund
imposes a $5,000 minimum initial investment requirement for Investor Class investors, a $1,000,000
minimum initial investment requirement for its Institutional Class investors, and a $2,000 minimum initial
investment for IRA accounts. The above mentioned minimum initial investment requirements also may
be waived at Evermore’s discretion.

Evermore’s services to the Fund are supervised by the Trust’s Board of Trustees, which is currently
comprised of seven independent trustees and an interested trustee. Additional information about the
Fund, including the services Evermore provides and the Fund’s investment objective, strategies and risks,
can be found in the Fund’s prospectus and statement of additional information. Those documents are
publicly available on Evermore’s website (www.evermoreglobal.com) or through the EDGAR database on
the SEC’s website (www.sec.gov), and may also be obtained free of charge by contacting the Fund’s
administrator, U.S. Bank Global Fund Services, LLC, at 1-866-383-7667.

Institutional Separate Accounts. Evermore provides investment management services to Institutional
Separate Accounts. Evermore utilizes its special situations strategy for Institutional Separate Accounts by
investing in Global, European or International securities depending on the region selected by the client.
Clients may impose certain limitations or restrictions on Evermore’s exercise of its discretionary authority.
However, Evermore reserves the right not to enter into an investment advisory agreement with a
prospective client, or to terminate an agreement with an existing client, if the proposed limitation or
restriction is believed by Evermore to be administratively or practically not feasible.

Evermore generally imposes minimum initial investment requirements of $100,000,000 for Institutional
Separate Accounts but may agree to waive such minimum requirements on a case-by-case basis.

Model Account Clients. Evermore provides model portfolios to other investment advisory firms, including
specific instructions relating to such investments that can be used directly for the other investment
advisory firms’ clients.

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