Nuveen Asset Management LLC

ITEM 5          FEES AND COMPENSATION

NAM’s advisory fees are generally based on a percentage of assets under its management. For
eligible client accounts, performance-based fees also may be negotiated in appropriate
circumstances. Please see Item 6. NAM generally does not charge fixed fees except in special
situations.

Fees, minimum account sizes, and services may be negotiable based on factors such as client
type, asset class, pre-existing relationship, portfolio complexity and account size or other special
circumstances or requirements. Some existing clients pay higher or lower fees than new clients.
Related accounts may be aggregated for fee calculation purposes in certain circumstances.

When NAM calculates fees, valuations of account assets are determined in accordance with NAM’s
valuation procedures, which generally rely on third party pricing services, but may permit the use
of other valuation methodologies in certain circumstances. NAM’s determinations may differ from
valuations reflected in a client’s custodial statements.

Advisory Fees for Institutional Separate Accounts
Advisory fees for Institutional Separate Accounts are generally determined based upon the
following schedules. However, fees for certain strategies or accounts fall outside of the stated
ranges or are negotiated. Breakpoints are generally applied on a blended basis, unless otherwise
agreed. NAM may impose minimum annual fees for Institutional Separate Accounts as negotiated.

EQUITY STRATEGIES

Large Cap Core
First $25 million    0.60%
Next $25 million     0.50%
Next $50 million     0.45%
Over $100 million    0.40%
New Client Minimum Account Size:         $5 million

Large Cap Value Opportunities
First $25 million    0.60%
Next $25 million     0.50%
Next $50 million     0.40%
Over $100 million    0.30%
New Client Minimum Account Size:         $5 million

Large Cap Value Balanced
First $25 million    0.60%
Next $25 million     0.50%
Next $50 million     0.40%
Over $100 million    0.30%
New Client Minimum Account Size:         $5 million

Stable Growth
First $25 million    0.60%
Next $25 million     0.50%
Next $50 million     0.45%
Over $100 million    0.40%
New Client Minimum Account Size:         $5 million

Equity Long/Short
First $100 million   1.10%
Next $150 million    1.00%
Over $250 million    Negotiated
New Client Minimum Account Size:         $100 million

Dividend Growth
First $25 million    0.50%
Next $25 million     0.45%
Next $50 million     0.40%
Over $100 million    0.35%
New Client Minimum Account Size:     $1 million

Global Dividend Growth
First $25 million    0.65%
Next $25 million     0.60%
Next $50 million     0.55%
Over $100 million    0.50%
New Client Minimum Account Size:     $5 million

Global Dividend Growth (ADR)
First $25 million    0.60%
Next $25 million     0.55%
Next $50 million     0.50%
Over $100 million    0.45%
New Client Minimum Account Size:     $1 million

International Dividend Growth
First $25 million      0.65%
Next $25 million       0.60%
Next $50 million       0.55%
Over $100 million      0.50%
New Client Minimum Account Size:     $5 million

International Dividend Growth (ADR)
First $25 million      0.60%
Next $25 million       0.55%
Next $50 million       0.50%
Over $100 million      0.45%
New Client Minimum Account Size:    $1 million

Select Dividend Growth
First $25 million    0.60%
Next $25 million     0.55%
Next $50 million     0.50%
Over $100 million    0.45%
New Client Minimum Account Size:     $1 million

Dividend Value
First $25 million    0.60%
Next $25 million     0.50%
Next $50 million     0.45%
Over $100 million    0.40%
New Client Minimum Account Size:     $5 million

Large Cap Select
First $25 million    0.60%
Next $25 million     0.50%
Next $50 million     0.45%
Over $100 million    0.40%
New Client Minimum Account Size:     $5 million

Mid Cap Growth Opportunities
First $25 million    0.65%
Next $25 million     0.55%
Next $50 million     0.50%
Over $100 million    0.45%
New Client Minimum Account Size:   $5 million

Mid Cap Value
First $25 million    0.65%
Next $25 million     0.55%
Next $50 million     0.50%
Over $100 million    0.45%
New Client Minimum Account Size:   $5 million

Multi Cap Value
First $25 million    0.75%
Next $25 million     0.70%
Next $50 million     0.65%
Over $100 million    0.60%
New Client Minimum Account Size:   $20 million

Small Cap Growth Opportunities
First $25 million    0.75%
Next $25 million     0.65%
Next $50 million     0.60%
Over $100 million    0.55%
New Client Minimum Account Size:   $5 million

Small Cap Select
First $25 million    0.75%
Next $25 million     0.65%
Next $50 million     0.60%
Over $100 million    0.55%
New Client Minimum Account Size:   $5 million

Small Cap Value
First $25 million    0.75%
Next $25 million     0.65%
Next $50 million     0.60%
Over $100 million    0.55%
New Client Minimum Account Size:   $5 million

Small Cap Value Opportunities
First $25 million    0.75%
Next $25 million     0.65%
Next $50 million     0.60%
Over $100 million    0.55%
New Client Minimum Account Size:   $5 million

Small/Mid Cap Value
First $25 million    0.70%
Next $25 million     0.65%
Over $50 million     0.60%
Over $100 million    0.55%
New Client Minimum Account Size:   $5 million

Emerging Markets (ADR)
First $25 million    0.75%
Next $25 million     0.70%
Next $50 million     0.65%
Over $100 million    0.60%
New Client Minimum Account Size:   $1 million

Global Equity Income
First $25 million    0.70%
Next $25 million     0.65%
Next $50 million     0.60%
Over $100 million    0.55%
New Client Minimum Account Size:   $5 million

International Opportunities
First $25 million     0.75%
Next $25 million      0.70%
Over $50 million      0.65%
Over $100 million     0.60%
New Client Minimum Account Size:   $25 million

International Equity (ADR)
All Assets             0.70%
New Client Minimum Account Size:   $1 million

International Value
First $25 million    0.70%
Next $25 million     0.60%
...

ITEM 7          TYPES OF CLIENTS

NAM provides investment advisory and sub-advisory services to a broad range of individual and
institutional clients, including investment companies and pooled investment vehicles, pension
plans, charitable organizations, state or municipal government entities, insurance companies and
corporate entities. Prior to investing in any Fund, an investor should review the relevant offering
materials for important information concerning the objectives, policies, strategies, risks, fees and
other important information.

Institutional Separate Accounts
For Institutional Separate Accounts, NAM generally requires a minimum account size generally
ranging from $1 to $50 million depending on the strategy. Please see the fee schedule in Item 5
above for specific minimum investment amounts. NAM may waive these minimums based on client
type, asset class, pre-existing relationship with client and other factors. For certain accounts, a
negotiated minimum annual fee applies.

Retail SMAs
For Retail SMAs, NAM typically requires a minimum account of $100,000 for equity and asset
allocation strategies and $250,000 for fixed income strategies, although the specific minimum
account size varies by program. NAM may waive these minimums based on client type, asset class,
pre-existing relationship with client and other factors. For certain accounts, a negotiated minimum
annual fee applies.