Northcape Capital PTY Ltd

Item 5. Fees and Compensation
Separate Accounts

Northcape charges a fee (the Management Fee) for its investment management services,
which are individually negotiated. Management fees and compensation are generally based
on a standard fee scale charged as a percentage of assets under management. Certain
Segregated Accounts, however, may be charged different rates and/or a performance-based
fee as negotiated by Northcape and the Client.

Fee rates may be negotiated and may vary due to particular circumstances of each client. For
example, different management fee may be negotiated based on the size or complexity of a
client’s portfolio. Different fee schedules may also apply for long-standing clients and early
investors in a strategy. Management fees are calculated based on a fee schedule and method
that is agreed with the client in their investment management agreement.

The management fee is invoiced and payable quarterly in arrears. For some clients, Northcape
may have a performance-related fee as discussed in Item 6 (Performance Based Fees and Side
by Side Management).

A client will also incur brokerage and other transaction costs that are payable to third parties as
part of the portfolio management process. Further information relating to the charges can be
found under Item 12 (Brokerage Practices).

Wholesale trusts (Funds) - Australian investors only

Northcape charges a fee for its investment management services based on assets under
management, which are set forth in the Funds’ offering documents. Northcape receives an
annual management fee of a fixed percentage per annum of the net asset value (NAV) of
each Fund. The fixed percentage differs for each Fund and is specified in the offering
documents. The management fee is calculated and accrued daily and paid each quarter. The
Funds may from time to time enter into Side Letters providing for a rebate of part of the
management fees outside the trust.

Item 7. Types of Clients
Northcape manages active listed equity portfolios for a global client base. For its U.S. clients,
Northcape provides investment services, as an investment advisor, to separately managed
accounts. Northcape does not intend to have any U.S. individual clients.

Clients with a separately managed account (SMA) will be required to enter into a separate
investment management agreement with the Firm. Northcape may require a minimum account
size, which will be determined on a case-by-case basis.