Renaissance Capital LLC

Item 5: Fees and Compensation

Renaissance Capital is compensated for its advisory services as a percentage of assets under
management. The fee schedule is as follows:

Investment Vehicle               Advisory Fees                            Fee Collection
                            Amount        Negotiable               Method                  Timing
ETF – U.S.                   0.60%            No              Deducted from assets         Accrued
                                                                                          daily and
                                                                                        paid monthly
                                                                                          in arrears
ETF – International          0.80%               No           Deducted from assets         Accrued
                                                                                          daily and
                                                                                        paid monthly
                                                                                          in arrears

In addition to the fees listed, clients will also incur brokerage fees on portfolio purchases and sales
and may incur other transaction costs as discussed in Item 12.

A few large asset managers pay for the Firm’s research service based upon commission allocations
tied to the value of the service; however, most research clients pay a set price up front under an annual
retainer plus additional amounts based upon the number of users. A portion of the Firm’s clients are
designated underwriters of the securities under research and a potential conflict of interest may result
from the payment the firm receives from these clients who may be interested in receiving favorable
research opinions.

Renaissance Capital does not accept compensation for the sale of securities or other investment
products.

Item 7: Types of Clients

The Firm provides IPO Intelligence, a pre-IPO research and IPO market analytics service, to
institutional investors, including mutual funds, hedge funds, asset managers, pension plans,
underwriters, and advisory firms. The Firm also provides IPO Pro, an IPO tracking data service, to
investors, advisors, and professionals. Renaissance Capital is the Adviser to the Renaissance IPO ETF

and the Renaissance International IPO ETF, which are exchange traded products that can be purchased
by authorized participants in creation units of 50,000 shares and by smaller holders through the open
market.