Grantham Mayo van Otterloo & Co LLC

Item 5.    Fees and Compensation

A. The rate of GMO’s advisory (or management) or service fee varies with the type of service,
   product or asset class being managed, the investment strategy being employed, and the vehicle
   type in which the strategy is being implemented. GMO’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, GMO is 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 GMO, or an affiliate,
   from a GMO pooled vehicle. Special allocations and performance-based fees or 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 GMO’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 fees paid to GMO by clients with
   discretionary separately managed accounts generally range from 0.18% to 1.00%. 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.

   With respect to accounts in the Manager Advised Separate Account program, GMO agrees on
   the advisory fee payable with the client’s wealth advisor. As stated above, for those accounts,
   an independent wealth advisor selects an investment strategy on behalf of a client, and the
   wealth advisor and/or the wealth advisor’s client enters into an agreement with GMO for GMO
   to provide sub-advisory services to the client’s account. The advisory fees payable for a
   Manager Advised Separate Account may change based on certain factors, including the

aggregate amount of assets (i) in client accounts that belong to the same household or (ii) the
wealth advisor’s clients, or clients of the wealth advisor’s service providers, have invested in
GMO funds or strategies, including the Manager Advised Separate Accounts. Advisory fees
for clients in Manager Advised Separate Accounts can differ as a result of the client’s wealth
advisor and the wealth advisor’s relationship with GMO. These fees may also be payable in
advance.

GMO may, for fee calculation purposes, agree to aggregate the assets of related accounts that
are being managed for the same client even if such account(s) is/are managed by an affiliate of
GMO. In those circumstances, the aggregate accounts may receive the benefit of a lower
effective fee due to the combined level of assets. Certain clients from time to time seek to
include most favored nation (“MFN” and such client an “MFN Client”) clauses in their
investment management agreements with GMO. GMO considers agreeing to an MFN clause
in view of a number of factors, which may include the client’s overall relationship with GMO.
These clauses generally require GMO to notify the MFN Client if GMO has entered into, or
subsequently enters into, a more favorable fee arrangement with a comparable client and offer
the MFN Client the same fee arrangement or notify the MFN Client of such fee arrangement.
Whether an account will be considered comparable will depend upon the language of the
client’s agreement with GMO. The agreement may provide for consideration of factors
including, but not limited to, the size of the account, scope and type of relationships with GMO,
restrictions on account, level of services required for the account, investment strategy,
investment objectives and discretionary character of the account. GMO does not agree to MFN
clauses in all circumstances and has sole discretion over whether to grant an MFN clause.

The GMO Trust mutual funds (each a “GMO Trust Fund” and collectively, “GMO Trust
Funds”) pay, directly or indirectly, management, service, and/or supplemental support fees to
GMO. 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 Trust 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.

In consideration for the services GMO provides to each series of GMO ETF Trust (each, a
“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.

The stated asset-based fee rates for each private pooled product advised by GMO, excluding
GMO Trust Funds and GMO ETFs (collectively, the “GMO Private Funds”), 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.
...

Item 7.    Types of Clients

   GMO provides investment advice to a wide variety of clients, including, but not limited to,
   endowments, 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). The
   minimum account size for investment in certain share classes of the GMO Trust 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 and for other
   investors at GMO’s discretion including, without limitation, intermediaries. 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.