Manulife Investment Management Timberland and Agriculture Inc

Item 5: Fees and Compensation

Investment Management Fees

MIMTA’s compensation for managing a client’s assets, as well as the specific manner in which a client pays
management fees to MIMTA, are subject to negotiation and memorialized in the client’s written
agreement with MIMTA. Generally, in accordance with such agreement, MIMTA is authorized to deduct
fees from cash flow generated by a client’s investments held in the MIMTA-managed account. Such fees
may include compensation for services, reimbursement of expenses and maintenance of working capital
reserves. Fee rates, as well as the terms for fee payment (other than management fees, which are payable
in arrears), are negotiated with each client, other than any pooled investment vehicle, joint venture or
similar entity sponsored and/or managed by MIMTA (each, a “MIMTA Pooled Vehicle”).

Property Management Services

MIMTA, itself through its divisions or affiliates or through third parties engaged by it, provides local
property management services with respect to its client’s investments. If MIMTA (through either a division
or an affiliate) is engaged to provide local property management services, the fees charged by it will be
no less favorable to the client than those fees charged by unaffiliated property managers. Otherwise, the
fees and expenses of the local property manager will be negotiated on an arms' length basis. All property
management services are paid ultimately by clients and are in addition to the fees and expenses payable
to MIMTA to serve as the investment manager to the client’s MIMTA-managed account.

Other Expenses a Client May Expect to Pay

Where negotiated, MIMTA may assess clients a portfolio development fee in connection with certain
agricultural investments. The portfolio development fee is generally paid by the client at the closing and
funding of each acquisition of an agricultural investment. Any portfolio development fee is in addition to
the fees and expenses payable to MIMTA to serve as the investment manager to the client’s MIMTA-
managed account.

Certain securities and other MIMTA client assets are held by custodial institutions that are not affiliated
with MIMTA. Clients are expected to negotiate with those institutions the terms of the custodial
arrangement, including charges and fees for the custodial services. MIMTA does not recommend
custodians, and it does not participate in client negotiations with custodians. Fees paid by a MIMTA client
to any custodian are in addition to the fees and expenses payable to MIMTA to serve as the investment
manager or adviser to the client’s MIMTA-managed account.

Clients with separately managed accounts also may expect to pay account-specific expenses, such as the
expenses of independent real estate appraisers that MIMTA has engaged to determine the value of
portfolio investments held in the client’s account. Investors in any MIMTA Pooled Vehicle also may expect
to pay their proportionate shares of the expenses of the MIMTA Pooled Vehicle, such as the costs of
preparing and having audited annual financial statements.

Item 7: Types of Clients

MIMTA currently provides continuous and regular supervisory or management services to U.S. and non-
U.S. institutional investors, such as pension plans, corporations, insurance companies, foundations,
endowments and family offices, generally through separately managed accounts, as well as MIMTA
Pooled Vehicles. MIMTA does not have, and does not expect to have, clients who are individuals. Each
U.S. client must represent to MIMTA, among other things, that it meets the requirements of a “qualified
purchaser,” as defined by Section 2(a)(51) of the Investment Company Act of 1940, at the time its account
with MIMTA is opened. Other than “know-your-customer,” anti-money laundering, and other regulatory
requirements, MIMTA does not have any other specific requirements for opening and maintaining an
advisory account. For purposes of this Brochure, investors in most MIMTA Pooled Vehicles are not
considered MIMTA’s clients. Instead, MIMTA considers each such MIMTA Pooled Vehicle to be its client.

MIMTA generally requires a client to contribute or commit to contributing at least $150,000,000.00 to
open a separately managed account. MIMTA reserves the right to reduce the minimum account-opening
amount for any client. Capital contribution and commitment amounts to invest in a MIMTA Pooled
Vehicle may be lower.