Sparx Asset Management Korea Co Ltd

Item 5: Fees and Compensation

   In general, fees are based on a percentage of the current market value of the assets under
   management (the “Management Fee”). The Management Fee varies by client and may range
   as high as 2% of assets under management per annum, payable on a monthly or quarterly
   basis or as negotiated with the client. The Management Fee is generally charged either in
   advance or in arrears, depending on the terms negotiated with each client and as specified in
   the applicable investment management agreement.

   In addition to Management Fees, SPARX Korea may charge clients a performance fee based
   on the percentage of the total investment return over a fixed period of time and as of the date
   of any withdrawal or redemption of the investment (the “Performance Fee”). The Performance
   Fee can range as high as 20% and is generally payable semi-annually or annually.

   SPARX Korea either deducts its fees directly from client accounts each billing cycle or sends
   an invoice for fees owed, depending on the client’s negotiated arrangement.

   In addition to the above fees charged by SPARX Korea, clients should expect to incur other
   fees and costs payable to third parties, including (but not limited to) custodian fees, brokerage
   fees, administration fees, legal fees, accounting fees, and other professional or incidental
   fees and expenses.

Item 7: Types of Clients

   SPARX offers portfolio management services to institutions, including banks, pooled
   investment vehicles, pension and profit sharing plans, corporations, and certain government
   organizations.

   The requirement for opening an account varies. SPARX Korea does not maintain a standard
   minimum account size. Any minimums that may apply are determined through negotiation
   with the client. Account minimums may be waived at the sole discretion of SPARX Korea or
   the particular fund’s trustee or board of directors.