Mitsubishi UFJ Trust and Banking Corporation

Item 5: Fees and Compensation

Fee Arrangements
With respect to U.S. RIAs, investment management fee arrangements may include portfolio
management, execution, back-office operations, performance analysis, reporting, and client services.
Fees are generally based on a percentage of the market value of assets under management, although,
fixed fees, or other alternative fee structures may apply.

The specific fee arrangements for any RIA and, if applicable, any Separate Account Client, are
negotiable on a client-by-client basis. In determining appropriate fees, MUTB may consider, among
other factors, the Separate Account Client’s investment strategy and the level of service required for the
account.

The allocation of fees and expenses is governed by the agreement between MUTB and the RIA or, as
applicable, between MUTB and the Separate Account Client.

Custodial Fees and Client Responsibilities
MUTB does not select custodians on behalf of Separate Account Clients. Separate Account Clients are
responsible for selecting their custodians and for paying any charges imposed by those custodians,
including custodial fees and out-of-pocket expenses.

Additional Costs and Expenses
Depending on the scope of the applicable agreement, MUTB may charge additional costs, including
investment trust management fees and derivative transaction execution fees. In such cases, total
investment management costs may vary.

Separate Account Clients may also incur other expenses, such as brokerage fees, custodial fees for
foreign currency-denominated securities, and taxes. The amount of taxes may vary depending on the
type of client. Audit costs and trust-related expenses may also be incurred in connection with investment
trust purchases made pursuant to discretionary investment considerations. These amounts may vary
based on investment management status and cannot be determined in advance.

Billing
Investment management fees are charged to RIAs or clients in accordance with the applicable client
agreements.

                                                   Mitsubishi UFJ Trust and Banking Corporation

Item 7: Types of Clients

In the U.S., MUTB offers, from time to time, investment advisory services to institutional clients,
including SEC-registered investment advisors (“RIAs”).      Under some of these arrangements, the RIAs’
Separate Account Clients may select from several investment management programs of MUTB, which
maintains full investment management authority subject to the RIA’s oversight. Generally, MUTB has
a minimum initial amount for separately managed accounts of $50 million and may waive conditions
subject to the situation.