LSV Asset Management

Item 5 – Fees and Compensation

LSV’s standard managed account investment management fee schedules are listed below. Fee
schedules differing from these standard annual fee schedules, including performance fees and
various other terms, may be negotiated on a client-by-client basis. All fees are calculated and payable
in arrears. Other parameters of the fee calculation method may vary on a client-by-client basis and
are set forth in the written agreement with each client. Typically, clients are billed one fourth of the
annual fee on a quarterly basis, based on the total market value of a client’s account on the last day
of each quarter. Total market value is typically determined using the assets from LSV’s portfolio
accounting system, the client’s custodian’s calculations, or calculations sent by clients. LSV’s fees
are exclusive of custody fees, brokerage commissions, transaction fees, and other transaction-related
costs and expenses which are incurred by the client. See Item 12 – Brokerage Practices for further
information regarding LSV’s brokerage practices. Such charges, fees and commissions are exclusive
of and in addition to LSV’s fee, and LSV does not receive any portion of these commissions, fees,
and costs.

The minimum account size ranges from $10 million to $100 million. On a client-by-client basis,
LSV may accept smaller investments.

U.S. Small Cap Value                            U.S. Small/Mid Cap Value
Assets (millions)   Fee (BPs)                   Assets (millions)  Fee (BPs)
$0-25                       75                  $0-25                      70

Next $25                      65          Next $25                      60
Additional amounts over $50   55          Additional amounts over $50   50

U.S. Mid Cap Value                        U.S. Large Cap Value
Assets (millions)    Fee (BPs)            Assets (millions)    Fee (BPs)
First $25                    60           $0-25                        60
Next $25                     50           Next $25                     50
Next $50                     40           Next $50                     40
Next $100                    35           Next $100                    35
Additional amounts over $200 30           Additional amounts over $200 30

Europe Value
Global Value
Japan Large Cap Value Equity
International Large Cap Value             U.S. Enhanced Index
Assets (millions)    Fee (BPs)            Assets (millions)    Fee (BPs)
$0-25                         75          $0-100                       30
Next $25                      65          Next $300                    25
Next $50                      55          Additional amounts over $400 20
Additional amounts over $100 45

Global Concentrated Value Equity
International Concentrated Value Equity
Global Small Cap Value
Europe Small Cap Value Equity
Japan Small Cap Value Equity
Australia Small Cap Value Equity
Canada Small Cap Value Equity             Canadian All Cap Value
International Small Cap Value             Assets (millions)    Fee (BPs)
Assets (millions)    Fee (BPs)            C$0-50                        50
$0-25                         100         Next C$50                     40
Next $25                      90          Additional amounts over C$100 35
Additional amounts over $50   80
                                          Global Managed Volatility
U.S. Managed Volatility                   International Managed Volatility
Assets (millions)   Fee (BPs)             Assets (millions)   Fee (BPs)
$0-50                       40            $0-50                         50
Next $50                    35            Next $50                      40
Next $100                   30            Next $100                     35

Additional amounts over $200   25           Additional amounts over $200   30

ACWI Managed Volatility                     Emerging Markets
                                            India Equity
Assets (millions)    Fee (BPs)              Assets (millions)     Fee (BPs)
$0-50                        55             First $50                     100
Next $50                     45             Next $50                      90
Next $100                    40             Next $400                     75
Additional amounts over $200 35             Amounts over $500             65

                                            Global Small Micro Cap
                                            Global Equity Market Neutral
                                            U.S. Micro Cap Value
                                            Enhanced Hedged Equity
U.S. Large Cap Value 130/30                 Emerging Markets Small Cap
Assets (millions)    Fee (BPs)              Assets (millions)   Fee (BPs)
First $25                    100            All assets                   125
Next $25                     80
Next $50                     65
Additional amounts over $100 50

Global Value Equity (ACWI)
International Large Cap Value Equity
(ACWI Ex US)                                Frontier Markets Equity
Assets (millions)    Fee (BPs)              Assets (millions)   Fee (BPs)
First $25                     80.0          All assets                  150
Next $25                      72.5
Next $100                     62.5
Additional amounts over $150 52.5

U.S. Managed Volatility SRI
Assets (millions)   Fee (BPs)
All assets                  40

LSV also provides investment advisory services to commingled funds, including registered
investment companies, such as mutual funds and an exchange-traded fund, UCITS funds and
private investment funds. The fees and expenses and minimum investments for those funds are

described in the disclosure documents for those funds, such as the prospectuses and confidential
offering memoranda, as applicable.

For the provision of model portfolios, LSV receives fees that are negotiated and vary in amount.

Item 7 – Types of Clients

LSV provides portfolio management services to and has investors that are corporate pension and
profit-sharing plans, Taft-Hartley plans, charitable institutions, foundations, endowments,
municipalities, registered investment companies, private investment funds, trust programs, sovereign
funds, foreign funds (such as UCITS and SICAVs), other investment advisers and other U.S. and
non-U.S. institutions.

The minimum account size ranges from $10 million to $100 million depending on the investment
strategy. Minimum investment amounts for the commingled funds, including registered investment
companies and UCITS funds, are set forth in offering documents of the funds. In addition, LSV
may accept smaller account sizes and investments in its discretion.