Los Angeles Capital Management LLC

Item 5 – Fees and Compensation

Investment management fees vary by investment strategy, return or risk objective, account
assets under management, size of client relationship, long/short ratio, account structure and
other competitive factors. Investment fees charged by the Firm are generally computed as a
percentage of the market value of the assets under management in the account. In some cases,
clients pay a lower base fee plus a performance-based fee. The specific manner in which fees are
charged by Los Angeles Capital is established in a client’s written investment management
agreement, Limited Partnership Agreement, or other legal documentation governing the
account. Clients may be billed directly for fees, or they may authorize their custodian or fund
administrator to debit fees from their account following receipt of an invoice. Investment
management fees are not charged on proprietary accounts.

Los Angeles Capital will generally bill its fees quarterly in arrears, based on the client’s custodian
or fund administrator’s value of assets under management during the applicable quarter. Such
fees can be calculated either (i) at the end of the applicable quarter, (ii) based on the monthly
average value of assets under management during the applicable quarter, or (iii) based on a

Los Angeles Capital Management LLC
Form ADV Part 2A Disclosure Brochure March 27, 2026

methodology agreed upon with the client. Some clients elect to have fees calculated and billed
monthly. Los Angeles Capital typically has the authority to directly debit fees from the accounts
of the privately offered pooled investment vehicles it sponsors and for which it provides
discretionary investment advisory services (each a “Private Fund”). These directly debited fees
are typically calculated by the Private Fund’s third-party administrator or the General Partner.

If required in the written investment management agreement or other governing
documentation, fees are prorated for each capital contribution and withdrawal made during the
applicable calendar month or quarter, as applicable. The Firm’s investment management
agreements generally allow either party to terminate the applicable mandate upon prior written
notice to the other. The required notice period for termination varies across agreements. If a
client mandate begins or terminates on a date other than the end of a period used to value the
account for purposes of calculating advisory or performance fees, such amounts will be prorated
in accordance with the terms of the client’s written investment management agreement. Upon
termination of any account, any earned, unpaid fees typically will be due and payable. There is
no annual minimum base fee for investment advisory services. In measuring clients' assets for
the calculation of performance-based fees, Los Angeles Capital typically includes realized and
unrealized capital gains and losses.

Los Angeles Capital has a standard fee schedule for each strategy that is marketed by the Firm.
The standard fee arrangement can be negotiated with a particular client depending on a variety
of factors, including whether the client is a seed investor in a new strategy, the size of the
account, scope of the overall client relationship, the particular strategy selected by the client,
and other requirements for managing the account. As a result, Los Angeles Capital may offer
certain clients lower or higher fees than other clients in the same strategy.

Separate Accounts
Los Angeles Capital’s standard annual advisory fee schedules for separate accounts are as
follows:

 U.S. Large Cap Strategies                                U.S. Large Cap Enhanced Strategies
 0.35% on the first $50 million                           0.25% on the first $50 million
 0.30% on the next $150 million                           0.20% on the next $150 million
 0.20% thereafter                                         0.15% thereafter

 U.S. Mid Cap Strategies                                  U.S. Small Cap Strategies
 0.50% on the first $50 million                           0.65% on the first $50 million
 0.45% on the next $150 million                           0.50% on the next $150 million
 0.40% thereafter                                         0.45% thereafter

Los Angeles Capital Management LLC
Form ADV Part 2A Disclosure Brochure March 27, 2026

 U.S. Micro-Cap Strategies                                U.S. All Cap Strategies
 0.85% on the first $50 million                           0.55% on the first $25 million
 0.75% on the next $150 million                           0.45% on the next $175 million
 0.70% thereafter                                         0.35% thereafter

 Global Strategies*                                       Global Enhanced*
 0.45% on the first $50 million                           0.35% on the first $50 million
 0.35% on the next $150 million                           0.30% on the next $150 million
 0.30% thereafter                                         0.25% thereafter

 ACWI ex-U.S. Strategies
 0.45% on the first $50 million
 0.35% on the next $150 million
 0.30% thereafter

 ACWI Small Cap Strategies                                ACWI ex U.S. Small Cap Strategies
 0.80% on the first $50 million                           0.85% on the first $50 million
 0.70% on the next $150 million                           0.75% on the next $150 million
 0.65% thereafter                                         0.70% thereafter

 World Strategies**                                       World Enhanced Strategies**
 0.40% on the first $50 million                           0.30% on the first $50 million
 0.30% on the next $150 million                           0.225% on the next $150 million
 0.25% thereafter                                         0.175% thereafter

 World Small Cap Strategies**                             World ex U.S. Small Cap Strategies**
...

Item 7 – Types of Clients

Los Angeles Capital provides account management services to various types of institutional
clients as outlined below. The Firm typically seeks a minimum separate account size of $50 million
but has accepted a lower account size. The Firm’s Private Funds and LACM UCITS have minimum
initial investments identified on their respective offering documents. These minimums are
typically set at either $5 or $10 million. Los Angeles Capital, in its sole discretion, when deemed
appropriate, is permitted to accept investments of less than the minimum stated in the Private
Fund offering documents. The minimum initial investment in the LACM UCITS may be waived by
a member of the LACM UCITS Board.

The Firm provides investment advisory services to the following types of clients:

     •    Institutional Clients - The Firm provides discretionary investment advisory services
          and/or sub-advisory services to public pension funds, corporations and their pension and
          profit-sharing plans, foreign pension plans, sovereign wealth funds, endowments,
          foundations, unions and Taft-Hartley plans, insurance companies, charitable and religious
          organizations, pooled investment vehicles, trusts, and other U.S. and international
          institutions.

     •    Privately Offered Pooled Investment Vehicles - The Firm also sponsors and provides
          discretionary investment advisory services to commingled funds offered on a private
          placement basis to eligible institutional investors. Each Private Fund is managed according
          to governing documents that may include a partnership or LLC operating agreement,
          articles of association, and offering memorandum. Third party service providers provide
          administrative back-office, accounting, and record keeping services, including trade

Los Angeles Capital Management LLC
Form ADV Part 2A Disclosure Brochure March 27, 2026

          settlement processing, and custodial services. Periodic reports for the Private Funds are
          prepared for investors generally based on the records of the service providers.

     •    Registered Investment Companies - The Firm provides sub-advisory services to registered
          investment companies sponsored by unaffiliated third parties.

     •    Foreign Investment Companies - The Firm provides advisory and/or sub-advisory services
          to the LACM UCITS, other unaffiliated UCITS, and UK Unit Trusts.

     •    Collective Investment Trusts - The Firm provides advisory and/or sub-advisory services to
          collective investment trusts offered to tax qualified pension and profit-sharing plans and
          related trusts, governmental plans, and certain other qualified institutional investors.