Paradice Investment Management LLC

Item 5: Fees and Compensation
In general, Paradice earns an asset-based management fee, billed quarterly in arrears, from Clients (the
“Management Fee”). The Management Fee is indirectly borne by the investors in the Funds pursuant to the
governing documents of each Fund. Where applicable, a performance fee may also be charged, as discussed in
Item 6 below. For Direct Clients, fees and compensation are calculated in accordance with the methodology
specified in each Direct Client’s investment management agreement, and in accordance with the PIM Sub-
Advisory Agreement for Sub-Advised Clients. Management Fees are invoiced as specified in each Direct Client’s
investment management agreement or Fund offering document.

Although Paradice has established flat and tiered advisory fee schedules, Paradice retains the discretion to
determine the appropriate advisory fee on a client-by-client or account-by-account basis. Paradice has waived,
reduced or otherwise negotiated, the Management Fee for certain Clients or investors in the Funds, including
those who are employees of Paradice.

Direct Clients

The standard Management Fee schedule applicable for SMAs is as follows: a flat Management Fee of 1% per
annum or a Management Fee of 0.75% per annum with a performance fee of 15% (performance fees are further
addressed under Item 6 below).

Sub-Advised Clients
As noted above under Item 4, Paradice provides sub-advisory services to PIM Pty in relation to the Sub-Advised
Clients. In connection with such sub-advisory services, Paradice is compensated directly by PIM Pty in
accordance with the agreement between the two entities. All Sub-Advised Client fees are calculated and invoiced
by PIM Pty.

Funds

The Management Fee applicable for the Funds is typically in the range of 0.80% to 1.00% of the applicable
Fund’s net assets, or up to 2.00% of invested capital.

Expenses

In addition to Management Fees, Clients bear the brokerage and transaction costs associated with trading
securities. For additional information regarding brokerage practices, see Item 12.

Investors in a Fund will be subject to their pro rata share of expenses incurred in connection with the operations
and activities of such Fund, as more particularly set forth in each Fund’s governing documents. A Fund will bear
all legal, organizational, and offering expenses of the Fund, including all legal and accounting fees, printing costs,
business development, travel, and other out-of-pocket expenses, up to amounts specified in the Fund’s governing
documents. The governing documents for each Fund generally include provisions that expenses otherwise
payable by the Fund, in excess of an applicable cap may be borne by Paradice.

Current and prospective investors in the Funds should refer to the private placement memorandum or other
offering documents of the respective Fund for additional information regarding fees and restrictions. The
information contained herein summarizes representative fee arrangements and is qualified in its entirety by such
documents.

                                  Paradice Investment Management LLC – Page 5

Item 7:      Types of Clients
Paradice’s services are provided primarily to institutional investors. As described in Item 4 above, Paradice
provides discretionary investment advisory services, either directly or through the PIM Sub-Advisory Agreement
to superannuation or pension funds, government entities, corporations and pooled investment vehicles. Investors
in the Funds include charitable organizations, foundations, high net worth individuals and corporations.

Generally, Paradice’s minimum account size is $50 million. However, minimum account size requirements may
vary for certain investment strategies and Paradice reserves the right to waive any account minimums.