HSBC Global Asset Management USA Inc

Item 5:       Fees and Compensation

A. ADVISORY FEES AND COMPENSATION

Advisory fees may be charged either in arrears or in advance, depending on the client’s
agreement. Typically, these will be assessed quarterly, although this may not be the case of
funds and other accounts. For most accounts, fees are billed and calculated based on the
account’s average market value for the quarter. Generally, the quarterly average market value
for the period is based on the three month-end asset values as stated in the client’s custodian
statements. Fees for the initial billing, are pro-rated accordingly since the account inception. If,
during the period, the client makes contributions or withdrawals from the portfolio, fees will be
pro-rated accordingly.

If the client terminates an account, any fees owed to AMUS will be pro-rated accordingly. The
client or AMUS could generally terminate an investment advisory agreements mutually agreed
in the contractual terms.

AMUS employees do not receive transactional commissions (a set percentage of revenue
received by AMUS from the execution of a transaction). Certain AMUS employees, however,
are eligible to receive discretionary bonuses. The determination of certain employees’
discretionary bonuses includes, among other factors, consideration of the employee’s
contribution to increases in assets under management, including increases resulting from sales
efforts.

Sub-Adviser Mandates

For sub-advisory accounts, AMUS receives a portion of the investment management fee. For
mutual funds and other pooled investment vehicles where AMUS acts as sub-adviser, the fund’s
adviser (not AMUS) typically delivers administrative, marketing and shareholder services,
including any necessary disclosures to shareholders.

AMUS as Investment Adviser

For domestic segregated or institutional accounts, AMUS receives the full investment
management-related advisory fee. Where AMUS uses a sub-adviser for these accounts it will
share a portion of its investment management fee with the sub-adviser as contractually agreed.

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HSBC Global Asset Management (USA) Inc.                            Form ADV Part 2A | March 30, 2026

For offshore segregated or institutional accounts where AMUS contracts directly with the client
or mutual fund management company, AMUS receives a portion of the investment
management related fee.

Offshore Products

AMUS serves as an investment adviser or sub-adviser for several offshore fund products. These
offshore funds are not registered in the U.S. and are generally not offered for sale or sold in the
U.S., except in a transaction exempt from the registration requirements of the Securities Act of
1933, as amended. Fees and expenses vary with each fund.

Institutional Client Accounts / Cash SMAs

The fee structures for AMUS’s institutional client account portfolios (including Cash SMAs) will
vary according to investment strategy and negotiations with the client at the time of contract.
These investment strategies can have minimum investment limits and minimum annual fees.

General management fee structures for each investment strategy are available upon request
and are subject to negotiation and execution of an advisory agreement. In addition to
management fees, some strategies also have performance-based fees associated with them.
See “Item 6: Performance-Based Fees and Side-By-Side Management” for a further discussion
of this type of fee arrangement.

AMUS, in its capacity as investment adviser, invests in funds (including money market funds)
advised by AMUS or an affiliated company on behalf of institutional client account portfolios
(including Cash SMAs), which presents a conflict of interest, as AMUS and its affiliates would
potentially earn two management fees. AMUS would earn its management fee for the client
account, and an additional management fee paid by the affiliated funds to it or its affiliates for
the portion of the client account invested in the affiliated funds. To mitigate the conflict, the
AMUS management fees applicable to the portion of the assets invested in the affiliated fund
will not be charged.

If the client’s account is subject to the Employee Retirement Income Security Act of 1974, as
amended (“ERISA”), the client receives a credit in the amount of investment management fee
paid by such fund to AMUS in respect of the client’s holdings in such fund. The client is
responsible for all other expenses and fees associated with an investment in the funds. These
fees and expenses may include but are not limited to, administration fees, shareholder servicing
fees, and custodial fees, and any sales load incurred with the purchase or sale of the funds.
Expenses and fees vary with each fund.

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HSBC Global Asset Management (USA) Inc.                          Form ADV Part 2A | March 30, 2026

HSBC Funds

AMUS serves as an investment adviser to a family of registered investment companies, referred
to as the HSBC Funds. AMUS provides advisory services to the following series of funds within
the HSBC Funds for which AMUS receives a fee based on average daily net assets, as specified
in the funds’ prospectuses which are publicly available on HSBC’s website or on the EDGAR
Database on the SEC’s website (www.sec.gov/). Please refer to the fund prospectus for a
detailed description of each fund’s shareholder fee structure and operating expenses. As with
all mutual funds, including money market funds, clients, through their fund investments are
charged their pro-rata share of the fund’s fees and expenses. For example, clients will pay
brokerage fees (See “Item 12: Brokerage Practices”) as well as custody fees that are borne by
the funds.

AMUS as Fund Sponsor and Administrator also provides administration and operational support
...

Item 7:       Types of Clients

AMUS provides investment advisory/sub-advisory services to various clients that may include,
but are not limited to, corporate pension and profit-sharing plans, Taft-Hartley plans, charitable
institutions, foundations, endowments, corporations, insurance companies, municipalities,
registered mutual funds, private investment funds trust programs, sovereign wealth funds,
European funds regulated under the Undertakings for Collective Investment in Transferable
Securities Directive (“UCITS Directive”) or the Alternative Investment Fund Managers Directive
(“AIFMD”) and each applicable jurisdiction’s local implementing regulations, other foreign
regulated collective investment vehicles, mutual funds, trusts, and separate accounts and other
U.S. and international institutions, including financial institutions.

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HSBC Global Asset Management (USA) Inc.                              Form ADV Part 2A | March 30, 2026