Lincoln Financial Investments Corporation

Item 5. Fees and Compensation

LFI is compensated through fees based on a percentage of assets under management. LFI generally
charges investment management fees daily at an annual rate based on a percentage of the average
daily net asset value of each Account. Investment management fees generally are deducted monthly
in arrears from each Mutual Fund and Private Market Fund, and daily from the Separate Accounts
and Private Funds. LFI does not have a standard advisory fee schedule and charges different,
negotiated fees for its advisory services. These fees are included in each Mutual Fund’s, Private
Fund’s and Private Market Fund’s prospectus or other official offering materials. In addition, LFI
generally charges up to 0.65% for Separate Accounts. LFI may waive or reduce the fees for an

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Account in its discretion. LFI generally compensates any applicable sub-adviser for the portfolio
management services the sub-adviser provides to a Mutual Fund, Private Fund, Private Market Fund
or Separate Account from the advisory fees LFI receives. Under these negotiated fee agreements,
either party generally may terminate the agreement with advance written notice to the other party
without penalty.

LFI’s clients incur fees, which are in addition to the investment management fee charged by LFI,
such as distribution and/or service (12b-1) fees, fund accounting expenses, custodial fees, other
operational expenses and or brokerage and trading costs. For clients that are Mutual Funds or Private
Market Funds, many of these fees are ultimately paid by shareholders as fees that make up the
expense ratio of the fund. Additional information about such fees may be found in the prospectus of
the relevant fund. For more information on brokerage fees, please refer to the Brokerage Practices
section of this Brochure.

For detailed information on the terms, conditions and fees of a particular fund, see the relevant fund’s
prospectus or other official offering materials.

LFI and its supervised persons do not accept compensation, including commissions and markups, for
the sale of securities or other investment products.

Item 7. Types of Clients

LFI generally provides investment advisory services to Mutual Funds that are investment options in
the insurance products offered by affiliated and non-affiliated life insurance companies as part of
annuity and insurance products, and/or which may be offered by retirement plans and accounts. LFI
also provides investment advisory services to Mutual Funds and Private Market Funds that are
available to investors outside of insurance products and retirement accounts. In addition, LFI also
advises Private Funds and Separate Accounts, all of which are limited offerings, available only to
affiliated life insurance companies for the products that such affiliates sell.

LFI generally does not require minimum investment amounts, except with regard to certain Mutual

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Funds and Private Market Funds where minimum investment amounts are disclosed in the applicable
fund prospectuses and with regard to certain Private Funds where minimum investment amounts are
disclosed in the applicable offering memorandums. LFI does not have a stated minimum investment
amounts for Separate Accounts.