Riverbridge Partners LLC

Item 5          Fees and Compensation

The standard fee schedule calls for clients to pay an annual fee of 1% of assets under management. We
may, at our sole discretion, charge a lesser investment management fee based upon certain criteria such
as the following:

            •   institutional clients and/or sub-advisory arrangements
            •   anticipated future additional assets
            •   dollar amount of assets to be managed
            •   related accounts
            •   account composition
            •   negotiations with the client

As a result of the above, similarly situated clients could pay different fees. In addition, similar advisory
services may be available from other investment advisors for similar or lower fees. Our Chief
Compliance Officer remains available to address any questions that a client or prospective client may
have regarding advisory fees.

There are inherent conflicts of interest as a result of the different types of clients serviced and the fees
paid by those clients. We have policies and procedures designed to mitigate those conflicts.

As a standard practice, Riverbridge’s fee is billed quarterly in arrears as a percentage of the assets under
management, based on the average of the three month-end market values for the quarters ending on
March 31, June 30, September 30 and December 31.

The following illustrates our standard quarterly in arrears fee calculation method:

                         Market Value x Quarterly Fee Rate = Quarterly Fee
        Market Value = The average of the three month-end values during a quarter will constitute the
        account market value. If the account closes during the quarter, the market value of the last day
        the agreement was in effect will be included in the month-end average calculation.

        Quarterly Fee Rate =     Annual Fee Rate

        New and Closing accounts
        If the agreement is not in effect for a full calendar quarter, the fee rate for a partial calendar
        quarter shall be determined as follows:
            Quarterly Fee Rate x Number of days in quarter in which agreement was in effect
                                         Total number of days in calendar quarter
        Cash Flows
        There will be no additional adjustment for contributions or withdrawals made to the account
        during the quarter.

                                       Riverbridge Partners, LLC
                                          Form ADV Part 2A
                                            March 13, 2026
At the client's request, their management fee may be billed monthly or may be billed in advance. In the
event of termination, Riverbridge will refund any unearned portion of the advanced fee paid based upon
the number of days remaining in the billing period. We use unaffiliated vendors in an effort to ensure
fair valuation of the assets under management. We use valuation according to our portfolio accounting
system for purposes of fee calculation unless the client requests a different calculation method.
Riverbridge may bill a flat fee for advisory services on assets not under our management.

Riverbridge enters into performance-based fee arrangements with certain clients that are “qualified
clients” in accordance with the requirements of Rule 205-3 under the Investment Advisors Act of 1940.
(see Performance-Based Fees in Item 6). Common examples of a performance-based fee arrangement
are as follows. Riverbridge’s fees consist of a base fee of .50% of assets under management plus: An
incentive fee shall be earned by Riverbridge in any calendar year in which the value of the account
increases by more than 5% (adjusted for any and all additions or withdrawals). The incentive fee
amount shall be 20% of the excess appreciation (above 5%) as long as the account value has reached a
new “high water mark” at that point in time. Or an incentive fee shall be earned in any quarter in which
the gross-of-fee return of the account exceeds the applicable benchmark return (adjusted for any and all
additions or withdrawals), on a five-year rolling average.

The Riverbridge’s Investment Advisory Agreement and the custodial clearing agreement may authorize
the custodian to debit the client account for the amount of our investment advisory fee and to directly
remit that management fee to us in compliance with regulatory procedures. The client may choose to
be billed directly. In the event that Riverbridge bills the client directly, payment is due upon receipt of
our invoice. The Investment Advisory Agreement between Riverbridge and the client will continue in
effect until terminated by either party by written notice in accordance with the terms of the Investment
Advisory Agreement. Upon termination, we shall debit the account or bill the client directly for the
portion of the unpaid advisory fee paid based upon the number of days that services were provided
during the billing quarter. Upon termination of a pre-paid fee account, we will refund the number of
days that services were not provided during the billing quarter.

Clients will pay certain other fees and expenses to third parties, not us, in connection with the
management of their account. As discussed in Item 12 below, broker-dealers may charge brokerage
commissions, transaction, and/or other fees for effecting certain types of securities transactions (i.e.,
including transaction fees for certain mutual funds and mark-ups and mark-downs for fixed income
transactions, etc.). When beneficial to the client, individual fixed-income and/or equity transactions
may be effected through broker-dealers with whom Riverbridge or the client have entered into
arrangements for prime brokerage clearing services, including effecting certain client transactions
through other SEC registered and FINRA member broker-dealers (in which event, the client will incur
both the transaction fee charged by the executing broker-dealer and a "trade-away" fee charged by the
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Item 7          Types of Clients

Riverbridge provides investment management services to institutions, corporations, partnerships,
pension and profit-sharing plans, foundations, charitable organizations, banks, investment companies,
collective investment trusts, pooled investment vehicles, individuals, trusts and estates. We generally
require a $2 million aggregate asset minimum for investment. See Item 5 for a further description of
our fees and the factors affecting the advisory fees.