GMO Singapore PTE Limited

Item 5.   Fees and Compensation

A. The rate of GMOS’s advisory (or management) fee varies with the type of product or asset
   class being managed, the investment strategy being employed by GMOS, and the vehicle type
   in which the strategy is being implemented. GMOS’s fees are generally asset-based and
   calculated at an annual rate as a percentage of the value of the net assets in the account.

   In some cases, GMOS may be paid a combination of an asset-based fee and a performance fee.
   The performance fee may take the form of a special allocation of profit to GMOS, or an affiliate
   from a GMO or GMOA pooled vehicle (special allocations and performance fees are referred
   to interchangeably throughout this brochure). The performance fee may be calculated in a
   variety of ways depending on multiple factors including, but not limited to, the nature of the
   strategy, relevant performance benchmarks and performance hurdles, and is generally
   calculated based on both realized and unrealized amounts. Please see Item 6, “Performance-
   Based Fees and Side-by-Side Management” for more information.

   Under appropriate circumstances, in GMOS’s discretion and where permitted by applicable
   law, the terms of an investment advisory contract, including fee schedules, terms of payment
   and termination provisions, may be negotiable. The asset-based management fee rate for a
   separately managed account will typically begin at a higher rate than a pooled investment
   vehicle managed in the same strategy.

   When GMOS provides services to a GMO pooled investment vehicle or separately managed
   account, GMO pays GMOS a portion of the advisory fees that GMO receives from that pooled
   vehicle or account.

   GMOS may provide services to GMO with respect to certain series of GMO Trust (the “GMO
   Mutual Funds”). The total net annual expenses of the GMO Trust Funds generally range from
   0.02% to 2.50%. Total net annual expenses are charged to and deducted from the GMO
   Mutual Funds in arrears. Additional information on each GMO Trust Fund’s fees and expenses
   is provided in the respective prospectuses, as supplemented and/or amended from time to time.

   GMOS may provide services to GMO with respect to certain series of GMO ETF Trust (each,
   a “GMO ETF”). In consideration for the services GMO provides to each GMO ETF and for
   GMO’s agreement to pay all of the expenses incurred by the relevant GMO ETF (with certain
   exceptions), GMO is paid an investment advisory fee based on the average daily assets of the
   GMO ETF. The investment advisory fees for the GMO ETFs generally range from 0.20% to
   0.65%. Additional information on each GMO ETF’s fees and expenses is provided in the
   respective prospectuses, as supplemented and/or amended from time to time.

   GMOS may provide services to GMO with respect to certain pooled products advised by GMO
   that are not GMO Mutual Funds or GMO ETFs (collectively, the “GMO Private Funds”). The
   stated asset-based fee rates paid to GMO by each GMO Private Fund are set forth in detail in
   each GMO Private Fund’s offering documentation. Note that the universe of GMO Private
   Funds contemplated in this brochure may be broader than the list of “private funds” required
   to be reported in Item 7.B of Part 1A of Form ADV, and that GMO-managed UCITS and
   qualifying investment funds domiciled in Ireland are not “investment companies” within the

   Investment Company Act of 1940, as amended, by virtue of Sections 3(c)(1) and/or 3(c)(7)
   and are included within the defined term “GMO Private Funds” for purposes of this brochure.
   The asset-based fee rate for the GMO Private Funds is generally 0.020% to 2.625%. With
   respect to the fees charged by GMO Private Funds, the general partner, investment adviser, or
   board of directors of such pooled investment vehicles, as the case may be, has discretion to
   waive, modify or calculate differently, or rebate a portion of the asset-based fees and/or
   performance fees for any period for some or all investors and to admit investors or accept
   additional subscriptions from existing investors subject to such other fee arrangements as each
   of them deems appropriate and generally without notice to or consent from other investors,
   subject to applicable, law, rule or regulation. The GMO Private Funds, GMO Mutual Funds
   and GMO ETFs are collectively referred to as “GMO Funds” throughout this document.

B. For accounts that are pooled vehicles, fees are generally accrued daily or monthly and paid in
   arrears. For accounts that are separately managed, asset-based fees are typically billed and
   payable quarterly in arrears, although such accounts may be billed more or less frequently.
   Performance fees for separately managed accounts and certain pooled products, if applicable,
   are typically billed annually, but GMOS and a client may agree to a more or less frequent
   billing cycle. From time to time, a client in a separately managed account may provide a
   standing instruction to GMOS in its investment management agreement to redeem shares of
   GMO Funds held in its account to the extent necessary to pay GMOS’s base (or advisory) fee
   and any performance fee owed. For all accounts, the amount of the asset-based fee is prorated
   if GMOS provides advisory services for periods of less than a full payment cycle (e.g., at the
   beginning or end of GMOS’s engagement to provide advisory services). For accounts
   investing in a GMO Fund (or a class thereof) that charges performance fees, accrued
   performance fees are generally payable at the time of each redemption from such GMO Fund
   and at the end of other account performance-measurement periods (typically, annually). In all
   cases, and even if a contract is silent, GMOS requires that fees billed from January through
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Item 7.    Types of Clients

   GMOS provides investment advice to a wide variety of clients, including, but not limited to,
   endowments and foundations; employee benefit, pension and contribution plans; governmental
   and supranational entities; family offices; high net worth individuals; taxable entities;
   investment companies; pooled investment vehicles; trusts; other institutions (including
   financial intermediaries) and individuals (including individual retirement accounts). As
   described in Item 5, “Fees and Compensation,” GMOS may provide investment services to
   GMO, including with respect to the GMO Mutual Funds, GMO ETFs and GMO Private Funds,
   as applicable. The minimum account size for investment in certain share classes of the GMO
   Mutual Funds varies but generally requires at least a $1 million commitment. For the GMO
   Private Funds, the minimum account size varies depending on the vehicle, but is generally at
   least $1 million and there are generally legal and/or regulatory based limitations on the types
   of eligible investors. Minimum account size requirements are waived for Members and
   employees of GMOS and its affiliates and for other investors at GMO’s discretion. GMO may
   waive a GMO Fund’s investment minimum for certain clients in certain circumstances (e.g.,
   for clients whose investment consultant has full discretion or exercises substantial influence
   over its clients’ assets and where the relationship meets the investment minimum). The
   minimum account size for separately managed accounts varies by investment strategy.