River Global Investors LLP

Item 5: Fees and Compensation

Separately Managed Accounts

RGI has a standard fee schedule which is included below for the strategies available in the US. All fees
are negotiable and can be calculated as a flat fee or a percentage of assets under management.

 Strategy                                                                  Annual Management Charge
                                                                      (% of Assets under Management)
 Global Recovery                                                                                0.50
 Global Sustainable Opportunities                                                               0.50

River Global Investors LLP             ADV Part2A Brochure             CRD/Number: 165028
Fees are invoiced in arears on a quarterly basis and paid for by the client.

Clients are responsible for appointing a custodian. It should be noted that clients will incur transaction costs
associated with the management of their portfolios.

RGI does not receive any compensation for the sale of securities in connection with discretionary portfolio
management.

In addition to the investment advisory fees paid to the Advisor, clients are responsible for paying any fees
and expenses related to services provided to the account, such as brokerage commissions, associated
with effecting securities trades for client investment portfolios. These fees include:

Brokerage and Custodial Fees
In addition to the Advisor’s management fees, the client will be responsible for all transaction, brokerage,
and custodial fees incurred as part of overall account management. Please see “Item 12 – Brokerage
Practices” for important disclosures regarding the Advisor’s brokerage practices.

Mutual Fund, ETF and Other Fund Fees and Expenses
If clients invest in mutual funds, closed-end funds, exchange-traded funds (“ETFs”), collective trusts,
partnerships or any other fund, clients will indirectly bear the fees and expenses paid by the funds to their
service providers. These fees may include management fees, custody and administration fees and
expenses, and in some cases a sales load or distribution fee. These fees and expenses are described in
each fund's prospectus.

Fees in General
Fees are negotiable based upon certain criteria (i.e., anticipated future earning capacity, anticipated future
additional assets, dollar amount of assets to be managed, negotiations with client). The client agreement
will specify the fee arrangement in writing.

Under no circumstances will the Advisor collect fees in excess of $1,200 more than six months in advance
of services rendered.

Account Termination
Clients may terminate their agreement by providing RGI with formal written notice. The notice period is
negotiated with each client individually and is set out in the Investment Management Agreement.

Any outstanding fees for the final fee period will be pro-rated for the applicable time period.

Item 7: Types of Clients

Separately Managed Accounts

In the US, RGI advises institutional clients such as employee benefit plans, foundations, endowments and
other charitable organizations.

The minimum size of client accounts opened and maintained by the Advisor is negotiable.