Kennedy Capital Management LLC

ITEM 5: FEES AND COMPENSATION
   Our revenue is derived from advisory fees. Our advisory fees are generally based on a percentage of
   assets under management and exclude costs that may be imposed by your custodian, broker-dealer,
   and other third-party service providers. These additional costs may include custodial fees, brokerage
   commissions, transaction fees, odd-lot differentials, transfer taxes, wire transfer and electronic funds
   transfer fees, miscellaneous fees and taxes on brokerage accounts and securities transactions, and
   other related costs and expenses. Additionally, securities traded on a non-U.S. exchange may incur
   additional fees and expenses.

   Advisory fees for any particular client or account are negotiable and may be lowered or waived under
   certain circumstances at our discretion. When negotiating advisory fees, certain factors may be
   considered, including but not limited to the strategy, the capacity of the strategy, the size of the
   account, the complexity of the client’s situation, the services provided, and the similarity of the
   account to other accounts we manage.

   As a result of these and other factors, clients participating in the same investment strategy may pay
   different advisory fees. Differences in fees may affect the performance of client accounts.

Fee Schedules
   The following fee schedules represent the standard advisory fee rates for the investment strategies
   listed below. Actual advisory fees charged to a particular client may differ from these rates as a
   result of negotiated arrangements or other factors described above.

    SEC File Number: 801-15323              March 25, 2026                                            12

Breakpoint fee schedules are applied on a tiered basis unless otherwise specified.

 Micro-Cap Strategies
 Strategy                       Annual Management Fee
 Micro-Cap                      1.25% on the first $30 million in assets
                                1.00% on assets over $30 million
 Micro-Cap Opportunities        1.00% on all assets

 Small-Cap Strategies
 Strategy                       Annual Management Fee

 Small Cap Select               1.00% on the first $30 million in assets
 Small Cap Select SRI           0.90% on the next $20 million in assets
 Small Cap Value                0.80% on assets over $50 million
 Small Cap Growth               0.85% on the first $30 million in assets
                                0.75% on the next $20 million in assets
                                0.65% on assets over $50 million

 SMID-Cap Strategies
 Strategy                       Annual Management Fee
 SMID Cap Growth                0.80% on the first $30 million in assets
 SMID Cap Value                 0.70% on the next $20 million in assets
                                0.60% on assets over $50 million
 ESG SMID Cap                   0.80% on the first $30 million in assets
 Small/Mid Cap Core             0.75% on the next $20 million in assets
                                0.70% on assets over $50 million

 Mid-Cap Strategy
 Strategy                       Annual Management Fee
 Mid Cap Value                  0.70% on the first $25 million in assets
                                0.65% on the next $25 million in assets
                                0.55% on assets over $50 million

 All-Cap Strategy
 Strategy                       Annual Management Fee
 All Cap Value                  0.70% on all assets

 Bank Sector Strategies
 Strategy                       Annual Management Fee
 Bank Sector                    1.00% on all assets
 Concentrated Bank Sector

 SEC File Number: 801-15323             March 25, 2026                               13

    Health Care Sector Strategies
    Strategy                        Annual Management Fee
    Global Health Care              1.00% on all assets
    Biotechnology Sector

Fee Billing Practices
   The specific manner in which advisory fees are calculated is established in each client’s investment
   advisory agreement with KCM. Annual advisory fees are generally calculated and paid quarterly,
   either in advance or in arrears, as specified in the client’s investment advisory agreement. In certain
   circumstances, advisory fees may be calculated and paid monthly as provided in the applicable
   agreement.

   Quarterly advisory fees are generally calculated as the annual advisory fee rate multiplied by the
   billable market value and divided by four, unless otherwise specified in the client’s investment
   advisory agreement.

   Advisory fees are generally payable quarterly in arrears based on the average of the market value of
   the account, including cash under management and accrued dividends. The billable market value is
   typically determined based on the market value at the end of each month during the quarter, or the
   market value on the last day of the previous quarter, as provided in the client’s investment advisory
   agreement. In certain circumstances, other payment arrangements may be negotiated at the client’s
   request.

   Advisory fees may be prorated for substantial additions to or withdrawals from an account as provided
   in the investment advisory agreement. Upon request, related client accounts may be aggregated for
   purposes of determining fee breakpoints.

   The value of the client’s account, as calculated by our client accounting system, is generally used to
   compute advisory fees unless specified otherwise in the investment advisory agreement. Our client
   accounting system calculates security valuations based upon information received from third-party
   pricing vendors. Your custodian or consultant may use a different pricing source to value your
   account. Due to potential disparities in security prices, account values as reported by KCM, your
   custodian and/or your consultant may vary.

   Sub-Advisory Mutual Funds
...

ITEM 7: TYPES OF CLIENTS
  We generally provide investment management services on a discretionary basis to the following types
  of clients:
      •   Pension and profit sharing plans;
      •   Public/municipal entities;
      •   Taxable and tax-exempt institutions;
      •   High net worth individuals;
      •   Family offices;
      •   Banks or thrift institutions;
      •   Registered investment companies;
      •   Taft-Hartley/Union plans;
      •   Trusts, estates, and charitable organizations;
      •   Foundations and endowments;
      •   Collective investment trusts;
      •   UCITS funds;
      •   Other pooled investment vehicles;
      •   Wirehouse consulting accounts; and
      •   Corporations or business entities other than those listed above.

  KCM also provides services to clients of other investment or brokerage firms through wrap fee
  arrangements and other programs.         In these arrangements, KCM is not provided information
  regarding the underlying client and is not responsible for the implementation of investment decisions
  by the program provider or Sponsor.

  Account Opening and Client Information
  Prior to opening an account, you will be asked to sign an investment advisory agreement (except in
  certain sub-advisory relationships) which will grant us discretionary investment authority over your
  account. The investment advisory agreement explains the services provided, applicable investment
  strategies, and fees charged.

  Discretionary investment authority includes the authority to invest and reinvest account assets in
  securities and to determine the amount of securities to be purchased or sold without prior
  consultation with you. Unless you have directed us otherwise in writing, discretionary authority also
  allows us to select the broker-dealer used to execute transactions and the commission rates paid.

  We will also ask you to complete a Client Relationship Form, which is an internal client questionnaire
  used by us to collect information regarding you, your account, and any applicable investment
  restrictions. Clients may reasonably specify in the investment advisory agreement or otherwise
  instruct us regarding limitations on the types of investments to be made for an account.

   SEC File Number: 801-15323              March 25, 2026                                           19

In connection with opening an account, we will ask you to provide certain identifying documentation
such as government issued identification, articles of incorporation, partnership agreement, trust
instrument or other appropriate documentation.

Account Minimums
We generally do not have absolute minimum requirements regarding the amount of assets needed to
open or maintain an account. We do have preferred minimum account sizes, which may be waived or
lowered at our discretion depending on the nature of the account. These minimums will generally
not apply to wrap or other wirehouse consulting accounts or to mutual funds which tend to have
lower thresholds. The preferred initial minimum account size is listed below.

 Micro-Cap Strategies
 Strategy                      Preferred Account Minimum
 Micro-Cap                     $10 million
 Micro-Cap Opportunities       $1 million

 Small-Cap Strategies
 Strategy                      Preferred Account Minimum

 Small Cap Select              $1 million
 Small Cap Select SRI
 Small Cap Value               $10 million
 Small Cap Growth

 SMID-Cap Strategies
 Strategy                      Preferred Account Minimum
 SMID Cap Growth               $10 million
 SMID Cap Value
 ESG SMID Cap                  $1 million
 Small/Mid Cap Core

 Mid-Cap Strategy
 Strategy                      Preferred Account Minimum
 Mid Cap Value                 $10 million

 All-Cap Strategy
 Strategy                      Preferred Account Minimum
 All Cap Value                 $10 million

 Bank Sector Strategies
 Strategy                      Preferred Account Minimum
 Bank Sector                   $1 million
 Concentrated Bank Sector

 SEC File Number: 801-15323            March 25, 2026                                         20

    Health Care Sector Strategies
    Strategy                        Preferred Account Minimum
    Global Health Care              $1 million
    Biotechnology Sector

   The account minimum for wrap and model programs will vary by program sponsor. Please review
   the wrap brochure provided by the Sponsor for information regarding their program.

Anti-Money Laundering
   To help the government fight the funding of terrorism and money laundering activities, the USA
   PATRIOT Act and other applicable laws and regulations require financial institutions to obtain, verify,
   and record information identifying each person who opens an account.

   Accordingly, prior to opening an account, we will request certain information and documentation to
   verify your identity. Until the required information is received and identity verification is completed,
   we may be unable to open an account or provide services. If a prospective client does not provide the
   requested information or documentation, we may be unable to establish an advisory relationship or
   open an account.

   As required by the USA PATRIOT Act, existing clients’ identities will be verified periodically and, if we
   are unable to verify a client’s identity after reasonable efforts, we may be unable to continue providing
   services and the account may be closed.

   Under certain arrangements, such as the model programs through which we are retained as a sub-
   adviser, we will not be responsible for verifying the identities of the Sponsors’ underlying clients.

   The USA PATRIOT Act requires the maintenance of records and periodic updating of identity
   verification. We recognize the importance of safeguarding clients’ non-public personal information
...