Mondrian Investment Partners Limited

Item 5 – Fees and Compensation
Institutional Separate Accounts
For the provision of Investment Advisory Services, Mondrian charges a fee based on a percentage of the
assets under management. In certain limited instances, Mondrian will negotiate a portion of the fee
calculated on a percentage of performance basis, which may be greater or less than the standard fee
schedule (see Item 6 for further information on performance fees).
Investment management fees for separately managed investment accounts are generally calculated and
payable quarterly in arrears. Fees are normally prorated for a period of less than a full quarter in the event of
a termination of the investment management contract. Generally, the fee is based upon the market value of
the account as of the end of each calendar quarter, unless the client requests a different method of
calculation. Mondrian’s clients may choose for the Mondrian or custodian market value to be used as the
basis of the fee calculations.
Mondrian provides invoices to all its clients who are able to either elect for the fees to be deducted from their
custodian account or may opt to pay Mondrian directly (as specified in their Investment Management
Agreement).
In addition to paying Mondrian a management fee, clients will incur other expenses in relation to the
account.
Asset owners are responsible for all costs and expenses associated with an investment account. Common
operating costs include, without limitation, custody, accounting, administration, legal, tax advice, tax filing
and auditing. Common investment activity costs include, without limitation, brokerage commission, bid-ask
spreads, mark-ups, interest and security loan expenses, regulatory and other governmental fees, transaction
charges, transfer fees, market charges and tax. Other than brokerage commissions, Mondrian does not
negotiate or handle any of these costs or expenses on behalf of the asset owner. Item 12 further describes
the factors that Mondrian considers in selecting or recommending broker-dealers for client transactions and
determining the reasonableness of their compensation (e.g., commissions). Item 8 below addresses tax
matters.
As described in Item 15 below, Mondrian does not act as custodian. Clients are responsible for negotiating
their custody agreements. These agreements typically include ticket charges for each transaction Mondrian
executes. Custodian charges will also be affected by the type and number of markets in which Mondrian
may request to be opened for it to invest.
Mondrian’s investment management fees may be higher than those of other investment managers
providing similar portfolio management services. Fee rates are negotiable and certain clients may have
more favourable fees to those stated below.
Fee structures vary based on factors such as account type, relationship to other accounts managed by
Mondrian, account size, required level of client service, potential for growth, and other relevant
considerations. For example, early investors in a strategy may qualify for lower fee schedules.
The table below outlines Mondrian’s standard fees for establishing a separate account as of the date of this
brochure.

ADV Part 2A   • March 2026                                                           Mondrian Investment Partners Limited

 Investment Strategy                                            Asset Base (USD)              Annual Fee Rate
 International Equity Value Opportunities                       First $50 Million             0.65%
 MSCI EAFE                                                      Next $50 Million              0.45%
 Minimum Account size: $100 Million                             Thereafter                    0.35%
 International Equity ESG                                       First $50 million             0.65%
 MSCI EAFE                                                      Next $50 million              0.45%
 Minimum Account Size: $50 Million                              Thereafter                    0.35%
 International Equity Value                                     First $50 million             0.65%
 MSCI EAFE                                                      Next $50 million              0.45%
 Minimum Account Size: $50 million                              Thereafter                    0.35%
 All Countries World ex-US Equity                               First $100 million            0.70%
 MSCI ACWI ex US                                                Next $100 million             0.60%
 Minimum Account Size: $100 million                             Thereafter                    0.45%
 Focused All Countries World ex-US Equity                       First $100 million            0.65%
 MSCI ACWI ex US                                                Next $100 million             0.55%
 Minimum Account Size: $300 (utilizing separate account only)   Thereafter                    0.45%
 Global Equity                                                  First $50 million             0.65%
 MSCI World                                                     Next $50 million              0.45%
 Minimum Account Size: $50 million                              Thereafter                    0.35%
 Global Equity ESG                                              First $50 million             0.65%
 MSCI World                                                     Next $50 million              0.45%
 Minimum Account Size: $50 million                              Thereafter                    0.35%
 Global All Countries World Equity                              First $50 million             0.65%
 MSCI ACW                                                       Next $50 million              0.50%
 Minimum Account Size: $50 million                              Thereafter                    0.40%
 US Large Cap Equity                                            First $50 million             0.45%
...

Item 7 –Types of Clients
Mondrian provides investment management services to a broad-based group of global institutional
investors. This group includes retirement plan assets of corporate entities, retirement plan assets of
government entities, trusts, foundations, endowments, charitable organizations, insurance companies and
other institutional investors. Mondrian also acts as investment adviser or sub-adviser to U.S.-based
investment companies and as investment adviser or sub-adviser to limited partnerships and other on- shore
and offshore pooled investment vehicles and other non-U.S. clients. Clients also include wrap program
Sponsors, investors in wrap programs, and clients who are Model Recipients through a non-discretionary
arrangement.
In addition to separately managed accounts, Mondrian acts as investment adviser to the Gallery Trust, an
SEC registered investment company consisting of four Mondrian funds.
Mondrian is an affiliate of Mondrian Investment Group (U.S.), Inc. which serves as the general partner for
private investment funds (the “General Partner”). Mondrian serves as the appointed Investment Manager
and is an affiliate of the General Partner, Mondrian Investment Group (U.S.), Inc. for private investment funds
which are limited partnerships organized under the laws of the State of Delaware. These pooled investment
vehicles are intended for sophisticated and institutional investors. Interests in the funds are offered to
qualified investors solely on a private placement basis in accordance with Regulation D under the Securities
Act of 1933. The funds are exempt from registration as an investment company in accordance with Section
3(c)(7) of the Investment Company Act of 1940.
Mondrian also serves as investment adviser to each fund of Mondrian Funds PLC, an open-ended
investment company registered with the Central Bank of Ireland pursuant to the European UCITS Directive.
Mondrian typically requires a minimum account size of USD 25 – 100 million for separate institutional
accounts, or that minimum annual fees be paid which would be equivalent to those paid on a USD 25 – 100
million account. It is expected that from time to time the minimum account size may vary depending on the
type of product, or the country in which the client is located and the size, nature, circumstances and
requirements of individual clients. A significant number of Mondrian’s institutional accounts are over USD
100 million. Mondrian may determine from time to time to alter the minimum account size, but any such
minimum is not expected to be reduced to an amount below USD 25 million, except in exceptional
circumstances, and for particular products. In connection with Mondrian’s investment management services
to pooled vehicles, lower minimum account sizes apply.
Additionally, Mondrian provides discretionary and non-discretionary investment advisory services to certain
SMA & UMA Managed Account Programs sponsored by third parties. These services will be provided through
a manager traded separately managed account or through non-discretionary model portfolio investment
services where the Sponsor retains investment discretion. Sponsors of these Programs include various
broker-dealers, investment advisers, consultants, or other organizations.