Parametric Portfolio Associates LLC

Item 5—Fees and Compensation

For the investment management services provided, Parametric charges a fee to its clients. Fees are generally
quoted on an annualized basis as a percentage of the client’s assets under management. Parametric’s

Parametric - Form ADV Part 2A – 04/21/2026                                                                 Page 3

standard fees and minimum account size are set forth below. The fee schedules stated below are all
negotiable and vary by investment strategy, product type, account size, customization requirements and
required service levels. Certain strategies offered by Parametric are available to retail investors indirectly via
financial intermediaries who negotiate their fee with Parametric. Fee rates and schedules for funds sub-
advised by Parametric may vary and are disclosed within the applicable fund’s prospectus or offering
documents. Participants in wrap programs should consult the brochure provided by their wrap sponsor.
Parametric may charge higher fees based on the complexity of the account’s customization or other client
requests.

    Investment Strategy                                   Fee Schedule                        Account Minimum
    Absolute Return Volatility Risk Premia                First $100mm: 60 bps                       $20,000,000
                                                          Over $100mm: 50 bps

    Absolute Return Volatility Risk Premia 0.5            First $20mm: 45 bps                        $20,000,000
                                                          Over $20mm: 35 bps

    Affiliated Strategies                                 35-50 bps                            $200,000-$450,000

    Commodity                                             First $25mm: 50 bps                        $15,000,000
                                                          Next $25mm: 45 bps
                                                          Next $50mm: 40 bps
                                                          Over $100mm: 35 bps

    Custom Call Writing                                   45 bps                                       $1,000,000

    Custom Portfolio Call Writing                         45 bps                                       $1,000,000

    Custom Active                                         Dependent on strategy 1                       $100,000

    Custom Active Call Writing                            40 bps                                        $500,000

    Custom Core - Buy-Write                               65 bps                                       $2,000,000

    Custom Core – Equity (Domestic)                       35 bps                                        $250,000

    Custom Core – Equity (Non-U.S.)                       40 bps                                        $250,000

    Custom Core – Fixed Income                            15 bps                                        $250,000

    Custom Extension SMA                                  40 bps                                       $1,000,000

 The fee for Custom Active is dependent on the fee charged by the Research Provider for their model portfolios.
Parametric’s standard fee for the tax management services it provides in Custom Active is 10 bps on top of the fee
charged by the Research Provider.

Parametric - Form ADV Part 2A – 04/21/2026                                                                  Page 4

 Investment Strategy                         Fee Schedule           Account Minimum
 Custom Extension SMA (High leverage)        58 bps                       $3,000,000

 Custom Portfolio Management                 23 bps                         $250,000

 Defensive Equity                            First $20mm: 45 bps         $20,000,000
                                             Over $20mm: 35 bps

 Defensive Equity (Global)                   45bps                       $50,000,000

 Dividend Income                             35 bps                         $250,000

 Dividend Growth                             35 bps                         $250,000

 Dynamic Hedged Equity                       45 bps                       $1,000,000

 Dynamic Put Selling                         First $20mm: 45 bps         $20,000,000
                                             Over $20mm: 35 bps

 Elevated Beta Volatility Risk Premia        First $20mm: 45 bps         $20,000,000
                                             Over $20mm: 35 bps

 Emerging Markets – Equity                   First $150mm: 65 bps        $75,000,000
                                             Next $150mm: 50 bps
                                             Over $300mm: 45 bps
 Emerging Markets Core – Equity              First $150mm: 45 bps        $50,000,000
                                             Next $150mm: 40 bps
                                             Over $300mm: 35 bps

 Enhanced Income                             35 bps                         $100,000

 Enhanced Income Core                        35 bps                         $100,000

 Enhanced Income Core Tax-Advantaged         35 bps                         $100,000

 Enhanced Income Plus                        25 bps                          $25,000

 Enhanced Income Tax Advantaged              35 bps                         $100,000

 Enhanced Managed Municipals                 17 bps                         $250,000

 Enhanced Municipal Ladders                  16 bps                         $250,000

 Equity Plus                                 35 bps                      $20,000,000

Parametric - Form ADV Part 2A – 04/21/2026                                     Page 5

 Investment Strategy                         Fee Schedule                  Account Minimum
 Fixed Budget Put Buying                     45 bps                                 $1,000,000

 Gold Plus                                   35 bps                                 $5,000,000
...

Item 7—Types of Clients

Parametric provides portfolio management services to a range of client types, including: individuals; high
net-worth individuals; corporations; corporate pension and profit-sharing plans; Taft-Hartley plans; banking
and thrift institutions; charitable institutions, foundations and endowments; state, municipal and federal
government entities; registered investment companies; trust programs; other investment advisers;
sovereign funds; foreign registered and private funds; other pooled investment vehicles; other U.S. and
international institutions. Account minimums vary, depending on the channel through which a client
accesses Parametric’s services. For example, clients opening an account through a wrap fee program or sub-
advisory relationship may have lower minimums than clients opening a direct account with Parametric.
Minimum account size varies by strategy – please see Item 5 for the specific minimum account size for
particular strategies. Parametric reserves the right to waive account minimums at its discretion. Parametric
primarily serves U.S. clients with assets maintained by qualified custodians in the U.S. Parametric may accept
certain non-U.S. clients, in its sole discretion, in accordance with all applicable laws.

Parametric - Form ADV Part 2A – 04/21/2026                                                               Page 11

Parametric does not generally engage retail clients directly. Retail investors may access Parametric’s
advisory services by investing in funds sub-advised by Parametric (subject to any qualification standards) or
they can engage Parametric indirectly via their investment advisor or financial consultant, broker-dealers,
and other financial intermediaries (each an Advisor). Parametric’s contractual relationship with retail clients
is documented pursuant to a sub-advisory agreement between Parametric and their Advisor or a dual- or
tri-party agreement to which Parametric is a party. Parametric retains the discretion to refuse to accept a
client. It is the responsibility of a retail client’s Advisor to evaluate the client’s investment objectives, risks
tolerance and financial standing and determine whether a Parametric strategy is appropriate for the retail
client. It is the responsibility of an institutional client or its staff, advisor, or consultant to evaluate the client’s
investment objectives, risk tolerance and financial standing and determine whether a Parametric strategy
and the investment guidelines are suitable for the institutional client. While Parametric may receive detailed
client information either directly from the client or from the client’s Advisor, such information is used solely
as background information for Parametric to familiarize itself with the client, and by accepting a retail client,
Parametric does not imply or acknowledge that it has determined that the applicable strategy chosen by
the client’s Advisor is suitable for the client. Parametric will ensure that investment decisions made within a
client’s account are suitable based on the mandate it is hired for.