Newday Funds Inc

ITEM 5: FEES AND COMPENSATION

Newday Impact provides investment management services for private clients and institutional
separately managed accounts (SMA) based on the terms of individual investment
management agreements. Our fees normally range from 0.50% - 0.75% and are based the
following fee schedule:

                           Assets Under Management Fee Schedule

                       75 bps          under $999,999

                       70 bps              $1 million - $4,999,999

                       65 bps              $5 million - $9,999,999

                       60 bps              $10 million - $24,999,999

                       50bps          over $25 million

Fees are designed to cover research, investment advice and implementation, account
servicing, and access to personnel who are knowledgeable about the management of the
account. Newday Impact reserves the right to offer fees outside of this range on a case-by-
case basis at its sole discretion.

Newday Impact’s accounts are billed quarterly, in arrears, based on a percentage of assets under
management unless a different arrangement is negotiated with the client. In the absence of specific
alternative arrangements agreed with a client, Newday Impact’s SMA clients are billed quarterly
based on the average month-end market values during the quarter. SMA Clients are
responsible for arranging payment to us. Clients may authorize deduction of Newday
Impact’s fees by the custodian, in which case the client receives a statement documenting
the management fee. Wrap client’s accounts are debited for any fees payable. We do not
collect fees from client accounts without client authorization.

For partial billing periods, Newday Impact will invoice clients on a pro rata basis based on
the actual number of days the assets were managed.

SMA clients will incur brokerage and other transaction costs in connection with the
management of their account in addition to the advisory fees payable to us.

Commission costs are paid directly to an unaffiliated fund sponsor, fund advisor, broker-
dealer, custodian, or other service provider.

ITEM 6: PERFORMANCE FEES AND SIDE-BY-SIDE MANAGEMENT

Newday Impact charges fees based on a percentage of assets under advisement or assets
under management. Newday Impact does not currently charge performance-incentive fees.

ITEM 7: TYPES OF CLIENTS
Newday Impact seeks to provide investment management services to institutional investors
including pension and profit-sharing plans, charitable organizations, family offices, foundations,
endowments, state or municipal government entities, registered investment advisers, brokers and
Accredited Investors.