Lone Peak Global Investors LLC

Item 5 - Fees and Compensation

 General Fee Information
 Generally, fees paid to us are exclusive of all custodial and transaction costs paid to your custodian,
 brokers or other third-party consultants. Please see Item 4 and Item 12 for additional information.

 To the extent that client assets may be invested in shares of non-LPG-related investment companies
 (e.g., mutual funds), these assets are included in calculating the value of an account for purposes of
 computing our fees and are also subject to additional advisory and other fees and expenses as set
 forth in the prospectuses or offering memoranda of those investment companies, which are paid by
 the investment companies, but ultimately borne by investors. For client assets invested in the LPG
 mutual fund, and for which we serve as the adviser, these assets are excluded in calculating the value
 of an account for the purpose of computing our fees.

 Clients in certain international and global strategies incur fees and costs associated with the purchase
 of non-U.S. securities in ordinary form and conversion of such ordinary shares into ADRs. To the
 extent that we purchase non-U.S. ordinary shares and arrange for such shares to be converted into
 ADRs, client accounts will incur certain fees and costs associated with the conversion. Such fees and
 costs may be attributable to local broker fees, stamp fees, and local taxes, and are generally included
 in the net price of the ADR.

 We use our portfolio reporting system to generate the account values upon which our asset-based
 fees are calculated. The method of accounting is slightly different between the custodian’s and our
 portfolio reporting systems. Therefore, at times there may be small differences between the values
 reported by LPG and the custodian due to the timing of dividend and accrued interest reporting,
 trades that have not yet settled into the account, and other similar issues. Clients are encouraged to
 let us know if they have questions regarding the calculation of their advisory fees.

 Either party may terminate the Agreement at any time, subject to any written notice requirements in
 the agreement. In the event of termination, any paid but unearned fees will be promptly refunded to
 you based on the number of days that the account was managed, and any fees due to us from you will
 be invoiced or deducted from your account prior to termination.

 Fees for Separately Managed Account (“SMA”) Services
 LPG’s fees for SMA services are individually negotiated and range up to 1.10% of assets under
 management and the minimum account size is $5 million. In some cases, a tiered fee schedule may
 apply (i.e., different asset levels are assessed their own specific fee rates). We consider various factors
 when negotiating an advisory fee, including, but not limited to, amount of assets under management,
 related accounts, anticipated future earning capacity, and anticipated future additional assets, etc.

LPG will also, in its sole discretion, charge lower management fees or waive account minimums based
on certain criteria. We may charge lower fees for accounts pursuant to other consulting or sub-
advisory arrangements in which broker-dealers, investment advisers, trust companies and other
providers of financial services typically provide clients with services that complement or supplement
our services. Therefore, some clients will pay more or less than other clients for the same
management services.

We reserve the right to revise our advisory fee schedule from time to time. As new fee schedules are
put into effect, they are applicable to new clients and the fee schedules already agreed to with existing
clients are not typically changed. Clients are subject to the fee set forth in their Investment Advisory
Agreement (“Agreement”), unless amended by us and the client.

Portfolio management fees are generally payable quarterly, in arrears, based on the value of the
account at the end of the quarter. Fees are typically prorated for deposits of $100,000 or more during
the billing quarter. We generally do not adjust for partial withdrawals during the quarter.

If management begins after the start of a quarter, fees will be prorated accordingly. With your
authorization and unless other arrangements are made, fees are normally debited directly from your
account(s). Custodial and transaction costs are separate and additional to our fees.

Additional Fee information for Sub-Advisory Clients
For Sub-Advisory clients, there are typically three components that comprise the Sub-Advisory
Client’s fee/pricing structure: the Primary Adviser’s management fee, our management fee, and the
broker-dealer’s fee for brokerage and custody services.

Payment arrangements, including the timing (in advance or arears), frequency (monthly or quarterly,
proration of asset flows (deposits and withdrawals), and billing procedures (invoicing or deduction
of fees), will be agreed upon by us and the Primary Adviser and may differ from those set forth above.
The specific manner in which advisory fees are charged by us will be established in the Primary
Adviser’s agreement with us, as applicable to each arrangement.

Mutual Fund Fees
Fees for the Fund are described in the Fund’s Prospectus, which are paid directly from the Fund. Fees
include management fees (paid to LPG) and other expenses (including shareholder service fees).
Additionally, brokerage commissions, as well as other transactions or fund-related expenses are paid
out of each respective fund. The Fund’s Investor Share Class is also subject to a short-term
redemption fee if redeemed within 60 days of purchase. See the Prospectus for all fee details.

The Fund has multiple class structures. The class structures represent the same underlying
investments. Only the Investor Share Class pays a 12b-1 fee shareholder service fee. The higher
expenses associated with the Investor Share Class will reduce an investor’s return overtime. A
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Item 7 - Types of Clients

 We serve individuals, trusts, estates, corporations, charitable organizations, other investment
 advisers, institutions, and registered investment companies. The minimum account size for SMA
 Services is $5,000,000. Under certain circumstances and in our sole discretion, we may negotiate our
 account minimum. We do not impose a minimum advisory fee.

 Minimum investment requirements for the Fund are set forth in the Funds’ Prospectus.