Neuberger Berman Asia Limited

Item 5:           Fees and Compensation

A. Fee Schedule

Funds and Separate Accounts

Client Accounts are charged a management fee. In very limited circumstances, some Client
Accounts are charged a fee based on the performance of the account (a “performance fee”)
in addition to the management fee. Fees are negotiable and are set forth in the investment
management agreement with the Client. There are differences in fees paid by certain Clients
or Client Accounts. In addition, some Client Accounts pay more or less than others for the
same or similar services depending on, for example, account inception dates, number or
value of related accounts, total assets under management, fee negotiation, fee waiver or the
manner in which NBAL services are obtained.

Detailed descriptions of the management and performance fees can be found in the
respective Offering Documents of the Funds, or the applicable investment management
agreement for the Separate Accounts.

NBAL’s standard fee schedules for Separate Accounts are set forth below:

 Strategy                 Management Fee
 China A Share            •   0.90% of the market value of all assets

Sub-Advised Accounts

Sub-advisory fees for the Sub-Advised Accounts are individually negotiated and vary
depending on the account. NBAL receives management fees in its role as sub-adviser to
certain funds and accounts offered, sponsored or managed by its affiliates.

B. Payment Method

Calculation and Payment of Fees

Management fees generally accrue on a daily or monthly basis, depending on the particular
requirements of each Client Account, and generally are charged monthly in arrears as
documented in the relevant investment management agreement. Where a performance fee is
charged for a Client Account, such fees accrue on a daily, monthly or other basis, depending
on the particular requirements of each Client Account, and can be payable semi-annually or
annually in arrears, as set forth in the investment management agreement of each particular
Client Account.

Certain Client Accounts are invoiced for any management fees or performance fees (where
applicable), or such fees are deducted directly from the Client Account, in accordance with
the investment management agreement governing the particular Client Account.

Where NBAL begins managing an account during the applicable fee calculation period, the fee
charged for such period will be pro-rated based on the portion of the period that NBAL
actually manages the account.

Termination of an agreement will not affect or preclude the consummation of any transaction
initiated prior to termination and the Client Account are subject to transaction-related costs
associated with the unwinding of such transactions.

Valuation of Assets

The market value of securities and other financial instruments is determined by unaffiliated
third-party service providers which also serve as administrator or custodian for NBAL’s
Client Accounts. NBAL uses market values of securities generally obtained from various
quotation services for its own internal purposes. Each Client generally retains a third-party
administrator or custodian to provide various administrative services to the Client. For
certain Client, this include keeping the official books and records, calculating the Client
Account’s NAV, as well as other administrative services on behalf of the Client.

Where significant issues regarding valuation arise that cannot be addressed by the methods
described above, NBAL will convene the NB Asia Valuation Committee to evaluate the issues
and seek prompt resolution thereof.

C. Other Fees and Expenses

In addition to the management and performance fees paid to NBAL, Client Accounts are
charged other fees associated with their accounts and investments, including the following:

Custodial Fees

Each Client has generally engaged either a prime broker or custodian, depending on the
specific requirements of the Client, to hold the Client’s assets and will bear any fees charged
by such prime broker or custodian. To the extent that cash is held in such accounts and fees
are charged by the provider of such service, the fees so incurred by the Client will be in
addition to the fee payable to NBAL on the overall value of the account. See Item 15.

Transaction-Related Fees

Client Accounts generally must bear all transaction-related costs, including brokerage
commissions, for transactions affected for the account. See Item 12.

Other Fees and Expenses

Investors in the Funds will incur other fees and expenses associated with their investments
in such funds. Fund expenses are described in the respective Fund’s Offering Document.

These expenses, in addition to brokerage and other transaction-related costs will generally
include the fees and expenses of other service providers to the Fund, such as prime brokers,
custodians, transfer agents, administrators, valuation agents, auditors and counsel.

Certain Client Accounts invest in other funds as described in each Fund’s Offering Document
or investment management agreement. To the extent a Client Account invests in another
unaffiliated fund it will bear the costs and expenses associated with an investment in that
underlying fund. If, however, a Client Account invests in another affiliated fund, the fees
associated with that underlying fund will typically be waived.

D. Prepayment of Fees and Refunds

As described above, management fees can be paid monthly or quarterly, in arrears depending
on the particular requirements of each Client Account. Certain Clients are charged
performance fees at the end of their fiscal year, or upon withdrawal by an investor in the case
of a Fund. Investors should refer to the applicable Offering Document if investing in a Fund
for more information related to fees.

E. Sales Compensation

NBAL’s products and strategies can be marketed by the Firm’s salesforce (the members of
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Item 7:        Types of Clients
NBAL provides investment advisory and sub-advisory services to institutional clients,
including registered investment companies, pension plans, trusts, charitable organizations,
foundations, endowment funds, corporations, insurance companies, banks, other financial
institutions, other business entities, unregistered investment vehicles, collateralized loan
obligation vehicles, and state and municipal entities and other governmental entities. NBAL
also serves as an investment adviser or sub-adviser to non-U.S.-domiciled clients, including
non-U.S. investment companies not subject to the Investment Company Act.

Generally, there is a minimum account size of $25 million for all Equity Institutional Accounts,
except for the following:

   •   China Equity mandates: $100 million

NBAL can manage customized Separate Accounts that are designed to meet the specific risk
and return goals, liquidity restraints, factor sensitivity targets and other requirements of its
Clients. These Separate Accounts generally have a minimum account size of $100 million.

NBAL can lower an account minimum in its discretion.