Redwood Investments LLC

(5) Fees and Compensation:

Redwood is generally paid an advisory fee, calculated as a percentage of assets under management.
Redwood’s standard fee schedules for separate accounts are presented below. Fees are negotiable
and, as a result of client circumstances (for example, the level of investment management activity
and supervision required for the client’s account, the size of the account, the number and size of
other accounts managed for the client and its affiliates, or the length of the relationship), certain
clients pay higher or lower fees than those noted below and one client may pay a higher fee to
Redwood than a second client who is receiving substantially similar services. Most clients are
billed in arrears, either on a monthly or quarterly basis, with billing generally based on the
account’s total market value at the end of each billing period or the average net asset value over
the billing period. For clients that are billed in advance, if the advisory contract is terminated before
the end of the billing period, Redwood will refund a pro rata portion of the advisory fee.

Employees and their immediate family members, and board members of Redwood and its
affiliates, as well as members of the board of trustees of FAM-advised funds, can hire Redwood
for investment advisory services and will be charged reduced or no advisory fees.

Fee Schedule (per annum)

 Small Cap Growth                               Large Cap Core
 1.00%                First $5 million          1.00%           First $5 million
 0.85%                Next $5 million           0.85%           Next $5 million
 Negotiable           Over $10 million          Negotiable      Over $10 million
 Large Cap Growth                               Large Cap Growth Concentrated
 1.00%                First $5 million          1.00%           First $5 million
 0.85%                Next $5 million           0.85%           Next $5 million
 Negotiable           Over $10 million          Negotiable      Over $10 million
 Mid Cap Growth                                 Global Equity
 1.00%                First $5 million          0.75%           First $25 million
 0.85%                Next $5 million           0.65%           Next $75 million
 Negotiable           Over $10 million          0.60%           Next $150 million
                                                0.55%           Over $250 million
 International Developed Markets                International Opportunities
 0.75%                First $25 million         0.75%           First $25 million
 0.65%                Next $75 million          0.65%           Next $75 million
 0.60%                Next $150 million         0.60%           Next $150 million
 0.55%                Over $250 million         0.55%           Over $250 million
 International Small Cap                        Global Small Cap
 0.90%                First $25 million         0.90%           First $25 million
 0.85%                Next $25 million          0.85%           Next $25 million
 0.75%                Next $50 million          0.75%           Next $50 million
 0.70%                Next $150 million         0.70%           Next $150 million
 0.60%                Over $250 million         0.60%           Over $250 million

 Emerging Markets
 0.80%                 First $25 million
 0.75%                 Next $25 million
 0.70%                 Next $50 million
 0.65%                 Next $150 million
 0.60%                 Over $250 million

Model Program Fee Structures

Model program clients are generally billed by the model program sponsor, with a portion of such
fee paid to Redwood as discussed above. For its services in the model programs, Redwood
generally receives fees ranging from 0.30% to 0.40% of an account’s market value annually.

Custodial and Brokerage Fees

Each client (other than model program clients described above and U.S. registered funds sub-
advised by Redwood) must select a custodian (generally a bank or broker-dealer) to provide
custodial services in connection with the management of its account. Clients will incur the cost of
these services, including any additional costs charged by custodians.

Redwood’s advisory fees also generally do not include the costs, expenses or commissions that
broker-dealers may charge in connection with transactions executed on behalf of an account,
including mark-ups, mark-downs, or dealer spreads that broker-dealers may receive when acting
as principal in certain transactions. Brokerage is discussed in more detail in Item 12: Brokerage
Practices.

Investment Fund Fees

Investors can access Redwood’s capabilities through U.S. and foreign registered funds sub-advised
by Redwood. In such cases, Redwood or its affiliates can receive, in addition to advisory fees,
shareholder servicing, administration, co-administration and/or distribution fees directly from the
funds, from the investors in the funds, and/or from the funds’ other investment advisers for which
Redwood acts as a sub-adviser. The fees and other contractual arrangements for each of these
funds are described in the prospectus or other offering documents for each such fund and differ
from the separate account fees described above.

Subject to requirements of applicable law and the consent of each client (if applicable), Redwood
can invest its client assets in funds managed by Redwood, FAM or WC. In the event of investment
of a client’s assets in such funds, Redwood will, if required by applicable law, take steps to avoid
having the client pay duplicative fees; however, if permitted by applicable law, there can be no
assurance that duplicative fees will not be charged.

Compensation for the Sale of Securities and Other Investment Products

Fred Alger & Company, LLC (“FAC”), an affiliate of Redwood, is a registered broker-dealer.
FAC does not conduct public brokerage business and generally limits its execution services to
...

(7) Types of Clients:

Redwood offers investment advice to corporate pension plans, public plans, Taft-Hartley clients,
foundations/endowments, religious organizations, municipalities, sub-advisory clients, and other
types of institutional investors and platforms. Redwood also offers investment advice to individual
investors through separately managed accounts (including model programs).

Redwood’s clients also include various taxable and tax-exempt institutions, and publicly offered
funds, both domestic and foreign.

Redwood typically requires a minimum asset size of $1 million for separate account advisory
services (other than model program accounts). Redwood may, in its discretion, waive the asset
minimum for a number of reasons, including, but not limited to, clients or their consultants having
multiple relationships with Redwood, specialty asset class assignments such as socially
responsible mandates, or clients who are willing to pay the fee equivalent of the minimum asset
size. Redwood may also waive the asset minimum when it is adding a new strategy or trying to
increase assets in an existing strategy or distribution channel.

Minimum investments in funds are listed in the offering material for each such fund. The
minimum investments in funds can be waived in some cases.