Nippon Life Global Investors Americas Inc

Item 5 Fees and Compensation
For advisory services provided to NLI and its affiliates, NLGIA charges management fees based on
a percentage of the net asset value or commitment amount of the funds or sub-funds NLGIA
manages. The fees range from .04% to .75% based on the total value of the funds or sub-funds.
Generally, fees are billed and collected quarterly in arrears; however, in some instances, fees are
billed and collected semi-annually in arrears.

NLGIA’s fees do not include brokerage commissions, spreads, transaction fees, and other related costs
and expenses that are typically paid directly by each client account. Clients will also incur other fees or
expenses charged by other service providers such as custodians, fund administrators, or other investment
advisers selected by the client. Such charges, fees, and commissions are exclusive of, and in addition
to, NLGIA’s fee, and NLGIA does not receive any portion of these commissions, fees, and costs.
Information regarding NLGIA’s brokerage practices is included in this brochure under the heading
Brokerage Practices. In addition, when investing in other private funds, clients will incur fees and
expenses charged to investors in those funds.

Item 7 Types of Clients
NLGIA provides investment management services to the investment funds in which NLI and its
affiliates holds a majority of the beneficial interest. The funds are domiciled in the Cayman Islands,
Luxembourg, and Japan. NLGIA also provides investment research services and recommendations
to its affiliate, NAMCO. Decisions for the recommended investments are made by NAMCO.