Fidelity Diversifying Solutions LLC

5. Fees and Compensation

FDS offers investment management services to clients for a percentage of assets under management,
a fixed fee, or fees based on performance as described below. The specific fee varies by Client based
on many factors including without limitation, services performed, investment mandate, and
account/relationship size. The fee applicable to any Client, along with its fee schedule, is disclosed in
the relevant Governing Documents. FDS may, and reserves the right, in its sole discretion, to reduce,
waive, assign, defer, participate in, or otherwise share all or any portion of such management or

7. Types of Clients

FDS’s Clients are generally open-end investment companies, ETFs, and closed-end investment
companies registered under the 1940 Act, as well as BDCs, real estate investment trusts, private
(unregistered) Funds, commodity pools, other collective investment vehicles, and various institutional
Clients including pension and profit sharing plans, corporate entities, charitable organizations, state or
municipal government entities or other separately managed account Clients, other investment advisers,
and non-U.S. institutional investors and investment Funds. FDS also sub-advises Funds or accounts
for affiliated and unaffiliated advisers. FDS may serve as an adviser or sub-adviser to various accounts
for which FDS’s affiliates or third parties have contracted to provide investment advisory services. These
accounts may include, among others, unit trusts and investment companies, including investment
companies authorized in jurisdictions outside the United States. In addition, FDS Funds may be offered
via access funds sponsored by affiliates of FDS or third parties. Such access funds are investors into
FDS-advised funds and are not Clients of FDS. A prospective investor investing into such an access
fund should review the Governing Documents of such fund carefully and discuss any question with the
sponsor of the fund. Certain access funds are expected to receive discounted fees and its sponsors
may establish fee sharing arrangements or other incentives with FDS.

FDS will generally accept only institutional Clients and only on a fully discretionary basis. Other
accounts may be considered on a case-by-case basis and may be subject to minimum asset amounts.
Investment vehicles managed by FDS may have different minimum initial investment amounts and other
features according to their respective offering documents. Please refer to the Governing Documents of
a private fund for information regarding that fund.