Haverford Financial Services Inc

Item 5 – Fees and Compensation

Individually Managed Accounts
Haverford Financial will enter into a written investment advisory agreement with a client, setting forth the
parameters of the advisory relationship. The standard Haverford Financial advisory fee schedule is as
follows:

                               Account Value                             Annual Fee
                              First $ 2 Million                            1.00%
                              Next $ 3 Million                             0.75%
                              Next $ 20 Million                            0.50%
                              Next $25 Million                             0.35%
                              Over $50 Million                           Negotiable

Fees for Individually Managed Accounts are payable quarterly in advance of the beginning of each calendar
quarter, based on the total value of the account as of the last day of the immediately preceding quarter.
The value of an account for fee purposes shall include all assets in the account, including any uninvested
cash equivalents. Please see the section entitled “General Fee Disclosures,” below, for additional
information regarding fees.

Separately Managed or Wrap Accounts
Fees for investment advisory services to wrap accounts generally range from 0.20% to 0.55% of assets
under management. The fee is determined by agreement between Haverford Financial and the Program
Sponsor or by agreement between Haverford Financial and the client. Program Sponsors generally collect
the total fee and remit a portion to Haverford Financial, however, under some circumstances the client may
pay investment advisory fees directly to Haverford Financial. Fees for Separately Managed Accounts or
Wrap Accounts shall be payable as described in the Program Sponsor’s client agreement. Please see the
section entitled “General Fee Disclosures,” below, for additional information regarding fees.

General Fee Disclosures
Fees are negotiable at Haverford Financial’s discretion and clients may be charged differently based on
factors such as client type, asset class, pre-existing relationship, portfolio complexity and account size or
other special circumstances or requirements. Related accounts may be aggregated for fee calculation
purposes in certain circumstances.

Haverford Financial’s fees are exclusive of brokerage commissions, transaction fees, and other related
costs and expenses which shall be incurred by the client. Clients may incur certain charges imposed by
custodians, brokers, third party investment and other third parties such as fees charged by managers,
custodial fees, deferred sales charges, odd-lot differentials, transfer taxes, wire transfer and electronic fund
fees, and other fees and taxes on brokerage accounts and securities transactions. Mutual funds and

                                                                                                       Page | 2

exchange traded funds also charge internal management fees, which are disclosed in a fund’s prospectus.
Such charges, fees and commissions are exclusive of and in addition to Haverford Financial’s fee, and
Haverford Financial shall not receive any portion of these commissions, fees, and costs.

Termination
Investment management agreements for Individually Managed Accounts may be terminated at any time by
either party with 30-days’ written notice to the other party. Upon termination, the client will be entitled to a
refund of any advisory fee pre-paid but unearned for such calendar quarter. No advisory fee will be payable
if a client terminates an agreement within five business days of original signing. Termination language may
vary by mutual agreement.

Investment management agreements for Separately Managed Accounts or Wrap Accounts may be
terminated as described in the agreement for such accounts.

Item 7 – Types of Clients

Haverford Financial may provide investment advice to individuals, banks and thrift institutions, investment
companies, pooled investment vehicles, pension and profit-sharing plans, charitable organizations,
corporations, business entities, state and municipal government entities and unions.

For Individually Managed Accounts, Haverford Financial generally requires a minimum account size of
$1,000,000. Separately Managed Accounts introduced by a third-party broker, the minimum account size
is $100,000. Wrap Accounts introduced to the Firm by Program Sponsors, the specific minimum account
size varies by Program Sponsor.

Haverford Financial has the discretion to waive the account minimum based on any number of factors
including, but not necessarily limited to, client type, asset class, pre-existing relationships, portfolio
complexity or other circumstances or requirements.