First Sentier Investors Ireland Limited

Item 5: Fees and Compensation
  Unlisted Infrastructure.

  For management of the Private Funds, FSIIL and its affiliates will receive a management fee as a
  percentage of funds under management paid quarterly in arrears. FSIIL and its affiliates will also be
  entitled to a performance fee on the terms described in the constituent documents of the Private Funds.

  FSIIL will pay out of the assets of the Private Funds (and accordingly, the investors will bear) all of the
  ordinary and extraordinary expenses, which include, but are not limited to:

              •    organisational expenses incurred in relation to or in connection with the formation and
                   organisation of the Private Funds including but not limited to travel, legal, accountancy,
                   printing, postage and other costs of establishment;

              •    transaction costs and expenses directly related to the purchase, holding or sale of
                   Investments including abort costs of unsuccessful or aborted transactions;

    First Sentier Investors (Ireland) Limited – March 2026

              •    accounting expenses, auditing fees, bank charges, representation and publicity
                   expenses and other direct out-of-pocket costs;
              •    taxes payable by the Private Funds, if any;

              •    fees of any agents appointed by the General Partner or Investment Adviser or delegated
                   Investment Adviser;
              •    fees of the Investment Adviser or delegated Investment Manager for extraordinary
                   services;
              •    expenses, including valuation fees, incurred in relation to the Investments of the Private
                   Funds;

              •    administrative costs, such as costs incurred in maintaining the Register, printing and
                   postage costs;

              •    costs incurred in obtaining and servicing financial accommodation;

              •    the obligations of the Private Funds pursuant to and in relation to any indebtedness of
                   the Private Funds;

              •    costs incurred in connection with drawing down commitments, seeking further
                   commitments or enforcing the Private Funds’ Partnership Agreement against Defaulting
                   Investors;
              •    communication and reporting expenses (including costs incurred to convene meetings);

              •    legal fees, other professional fees, disbursements and other third party costs;

              •    the costs of reasonable directors’ and officers’ liability insurances on behalf of the
                   Investment Adviser, the delegated Investment Manager and their respective key officers
                   and employees;

              •    the costs of meetings of the Investors and the Investors’ Representative Group and
                   reimbursements of reasonable costs incurred by the members of the Investors’
                   Representative Group; and

              •    any fees, costs and expenses including related disbursements and out-of-pocket
                   expenses linked to and directly necessary for and ancillary to the management of the
                   Private Funds’ Partnership or its portfolio of assets.

Item 7: Types of Clients
  FSIIL will provide investment advice to the Private Funds. FSIIL does not anticipate registering such
  investment vehicles under the U.S. Investment Company Act of 1940 and its shares or interests, as
  applicable, will not be registered under the U.S. Securities Act of 1933. Accordingly, the Private Funds
  will not be publicly offered in the United States.

   The Private Funds are available for investment by institutional investors including, but not limited to:
         • Pension plans
         • Investment companies
         • Other pooled investment vehicles (exempt from registration)
         • Endowments
         • State and Municipal organisations
         • Charitable organisations

  Investors are ‘qualified purchasers’ as defined in section 2(a)(51)(A) of the Investment Company Act
  of 1940.