Federated Hermes UK LLP

Item 5. FEES AND COMPENSATION

A.       Our Fees

When we are providing Investment Supervisory Services and Other Services to our clients, Federated Hermes (UK)
typically charges and receives advisory fees determined as a percentage of either assets under management or average net
assets, depending upon the type of client or account. While we currently do not receive these types of fees, we also could
receive fixed fees or performance-based fees when rendering Investment Supervisory Services and Other Services to
certain accounts, such as, for example, Pooled Investment Vehicles. Managing accounts for performance-based fees
creates various conflicts of interest for us and our employees and supervised persons. (Please refer to “Performance-
Based Fees and Side by Side Management” in Item 6 of this brochure for a discussion of these conflicts of interest.)

Our fees also are negotiable and can vary based on investment style and other factors. (Please refer to “Negotiation and
Modification of Fees” in Item 5 of this brochure for further information.)

Our investment management agreements currently do not provide for us to receive compensation on the basis of a share
of capital gains upon or capital appreciation of the assets or any portion of the assets of a client. If we were to accept a
performance-based fee, the performance-based fee could be based upon a share of capital gains upon or capital
appreciation of the assets or a portion of the assets of a client.

The following describes in more detail Federated Hermes (UK)’s fees and how fees are charged. To the extent that our
basic fee schedules vary depending upon the type of service we are providing or the type of client receiving the service,
such variations also are discussed below.

         1.         Basic Fee Schedules

This section sets forth Federated Hermes (UK)’s basic fee schedules. We typically charge asset-based fees, which are
determined as a percentage of assets under management (AUM). Our fee schedules can provide for “breakpoints” at
which the percentage is reduced if AUM exceeds certain agreed upon amounts.

More specific information regarding the fee arrangements applicable to Pooled Investment Vehicles, Investment
Companies, Private Investment Companies, Proprietary Accounts, and Separate Accounts follows our basic fee
schedules.

Our Basic Fee Schedules

Federated Hermes (UK)’s basic fee schedules are as follows:

Core Fixed Income Accounts:

25 basis points - on the first $50 million in AUM
20 basis points - over $50 million to $100 million in AUM
15 basis points - over $100 million in AUM

Active Cash Fixed Income Accounts:

10 basis points - on all assets under management

Money Market/Liquidity Accounts:

6 basis points - on all assets under management

Trade Finance Fixed Income Accounts:

85 basis points - first $25 million in AUM
75 basis points - on the next $25 million to $50 million in AUM
65 basis points - on the next $50 million to $75 million in AUM
50 basis points - over $75 million in AUM

Institutional Accounts that Include Project and Trade Finance Investments as Part of Investment Strategy:

    •    For any institutional account that can be invested in Project and Trade Finance investments as part of its
         investment strategy, Federated Hermes (UK) reserves the right to increase its standard fee schedule noted
         above as follows: If exposure to project and trade finance investments in the strategy is intended to be at 5%
         up to 10%, each tier of the applicable standard fee schedule could be raised by 5 basis points (so 35 basis points
         on the first $25 million becomes 40 basis points, etc.).
    •    If exposure to project and trade finance investments in the strategy is intended to be at 10% or above, each tier
         of the standard fee schedule could be raised by 10 basis points.
    •    This structure applies regardless of whether the actual exposure fluctuates, and regardless of whether the
         exposure to project and trade finance investments is achieved through investments in individual securities,
         investments in Investment Companies, Private Investment Companies, or other Pooled Investment Vehicles,
         or a combination of individual securities and funds.

For certain of the investment strategies noted above where our basic fee schedule is an asset-based fee schedule based
on a percentage of assets under management, we may be willing to accept a performance-based fee, which generally
would be calculated as a percentage of excess performance above certain levels and described in the investment
management agreement with our client, or a combination of an asset-based fee and a performance-based fee. Regarding
our services that are subject to the Advisers Act, performance-based fees can only be charged to qualified clients as and
when permitted under Section 205 of the Advisers Act and SEC Rule 205-3 promulgated under the Advisers Act.
(Please refer to “Negotiation and Modification of Fees” in Item 5 of this brochure for additional information on the
negotiability of our fees. Also, please refer to “Performance-Based Fees and Side by Side Management” in Item 6 of this
brochure for a discussion of the conflicts of interest raised by performance-based fees.)

         2.        Fee Information for Pooled Investment Vehicles and Private Investment Companies

This section sets forth information regarding Federated Hermes (UK)’s fees for Pooled Investment Vehicles, Private
Investment Companies, Proprietary Accounts and Subadvised Accounts. We charge asset-based fees, which are
determined as a percentage of AUM or average net assets.

Pooled Investment Vehicles

Federated Hermes (UK)’s fees for providing Investment Supervisory Services or Other Services to Pooled Investment
Vehicles can be consistent with the basic fee information and terms discussed above, but also can vary depending upon
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Item 7. TYPES OF CLIENTS

A.       Types of Clients

Federated Hermes (UK) generally provides investment advisory services to:

     •   Pooled Investment Vehicles (such as the Federated Cash Management Funds);
     •   High net worth individuals;
     •   Corporations, business entities and other institutional investors;
     •   Banks and other financial institutions;
     •   Investment Companies;

     •   Private Investment Companies;
     •   Trusts (including group trusts);
     •   Pension Funds;
     •   Charitable foundations and organizations;
     •   Government entities (such as federal, state and municipal or local government entities); and
     •   Foreign accounts.

(Please refer to “The Types of Accounts/Products We Manage” in Item 4 of this brochure for further information on
the Investment Companies, Pooled Investment Vehicles and Private Investment Companies to which we provide
investment advisory services.)

We also manage, from time to time, Proprietary Accounts. The clients, account holders, shareholders or investors in
these Proprietary Accounts can include:

     •   Federated Hermes (UK);
     •   Another Federated Advisory Company;
     •   Another one of our affiliates; or
     •   Employees of Federated Hermes (UK) or our affiliates.

(Please refer to “The Types of Accounts/Products We Manage” in Item 4 of this brochure for further information on
the Proprietary Accounts to which we provide investment advice.) Advising Proprietary Accounts raises various conflicts
of interest for us and our employees and supervised persons. (Please refer to “Conflicts of Interest Relating to
Proprietary Accounts” in Item 6 of this brochure for a discussion of these conflicts of interest.)

B.       Requirements for Accounts

A client that is an Investment Company must be registered under the Investment Company Act. Federated Hermes
(UK) generally requires clients to enter into an investment management agreement or other agreement. Our investment
management agreements contain grants of authority from our clients that allow us to manage and/or provide services
with respect to client assets and, in certain cases, we can request clients to execute and deliver a separate, stand-alone
power of attorney.

Federated Hermes (UK)’s target minimum account sizes are as follows:

Our target minimum account size for accounts is $100 million for Active Cash Fixed Income Accounts and $25 million
for all other strategies.

Accounts (including accounts below the relevant investment minimums) could utilize Investment Companies, Private
Investment Companies and certain Pooled Investment Vehicles managed by Federated Hermes (UK) or other Federated
Advisory Companies that meet the objectives of the client.

Federated Hermes (UK) reserves the right to modify or waive any of our target minimum account sizes.

Federated Hermes (UK) can request clients to provide proof of authority, directed trading letters, qualified purchaser or
accredited investor letters/certifications, or other information to allow us to manage client assets.

We provide investment advisory services for our clients in accordance with the performance standards and limitations of
liability as discussed in this brochure. (Please refer to “Standard of Care” in Item 4 of this brochure for further
information.)

Federated Hermes (UK) also can be restricted by the securities laws of jurisdictions outside of the U.S. from managing
the assets of certain clients located in such jurisdictions.