Kyobo Life Asset Management America Co Ltd

Item 5 - Fees and Compensation
All investment management fees are negotiable and set forth in the applicable investment management
agreement between Kyobo and a client. Our client is generally billed for investment management or
advisory services according to the fee schedule agreed to by the client and included in their investment
management agreement ("IMA").

Investment management fees are typically based on a percentage of assets under management, and
Kyobo charges a management fee to a client account in the range of 0.08% to 0.165% per annum, except
for the ETF portfolio management, which is charges at 0.3% per annum.

The investment management fee is calculated based on a percentage of the market value of assets under
management and is payable quarterly in arrears at the end of each quarter. The market value of the
account shall be calculated based on the average of the total month-end market values of the account
during the respective quarter. Each month-end market value will be adjusted on a time-weighted basis for
any contributions to, or withdrawals from, the account during the month concerned.

The IMA may be terminated by either the client or Kyobo upon thirty (30) days' written notice to the other
party, and termination will become effective upon expiration of such period. Termination of the IMA will
not affect the client's obligation to pay management fees and will be calculated on a pro-rata basis through
the effective date of termination. Kyobo does not receive any other compensation for the sale of securities
or other investment products.

Additionally, Kyobo does not receive any financial compensation for participating in the consortium, which
consists of Kyobo Life. See "Item 10 - Other Financial Industry Activities and Affiliations" for the consortium.

Item 7 – Types of Clients
Kyobo currently has a single client, Kyobo Life, which is also our parent company. Kyobo primarily provides
investment management or advisory services to companies and other institutional clients. There is no
minimum account size.