Stone Harbor Investment Partners LLC

Item 5 – Fees and Compensation
In general, all fees are subject to negotiation based on the circumstances of the client and other
factors, including but not limited to the type and size of the account and the type of advisory and
client-related services to be provided to the account.

Stone Harbor’s portfolio management fees generally range from 0.15% to 1.50% per annum of
assets under management. In addition, from time to time, consistent with applicable laws and
regulations including Rule 205-3 promulgated under the Investment Advisers Act of 1940, as
amended (the “Advisers Act”), Stone Harbor may negotiate incentive (performance-based) fee
arrangements in addition to (or in lieu of) asset-based management fees.

Stone Harbor’s fees typically are based on the value and performance of the assets held in the
client account. Stone Harbor generally does not price securities or other assets for purposes of
determining fees. However, to the extent permitted by applicable laws, Stone Harbor may be
charged with the responsibility to, or have a role in, determining asset values with respect to
accounts from time to time. For example, Stone Harbor may be required to price a portfolio
holding, in accordance with applicable valuation procedures, when a market price is not readily
available or when Stone Harbor has reason to believe that the market price is unreliable. To the
extent Stone Harbor’s fees are based on the value or performance of client accounts, Stone
Harbor would benefit by receiving a fee based on the impact, if any, of an increased value of
assets in an account. When pricing a security, Stone Harbor attempts, in good faith and in
accordance with applicable laws, to determine the fair value of the security or other assets in
question. Stone Harbor generally relies on prices provided by a third party pricing source or a
broker-dealer for valuation purposes.

Fees are generally payable either monthly or quarterly in arrears. The specific manner in which
fees are charged by Stone Harbor is established in a client’s written agreement with Stone Harbor.
Stone Harbor does not deduct fees from client accounts. Stone Harbor generally sends an invoice
on a quarterly or monthly basis to clients or their custodians. In certain cases, a client will send
payment directly to Stone Harbor based upon its or its custodian’s calculation of the fee amount
due.

Stone Harbor’s fees are exclusive of brokerage commissions, transaction fees, and other related
costs and expenses which shall be incurred by the client. Please see Item 12 for further discussion
of Stone Harbor’s brokerage practices. Clients may incur certain charges imposed by custodians,
brokers, and other third parties such as fees charged by managers, custodial fees, deferred sales
charges, odd-lot differentials, transfer taxes, wire transfer and electronic fund fees, and other fees
and taxes on brokerage accounts and securities transactions. Mutual funds and other commingled
funds also charge internal management and other fees, which are disclosed in a fund’s
prospectus.

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The charges, commissions, fees and expenses described in the preceding paragraph are
exclusive of and in addition to Stone Harbor’s fees, and Stone Harbor will not receive any portion
of these charges, commissions, fees and expenses.

In certain instances, Stone Harbor may allocate all or a portion of a client’s account to a
commingled fund for which Stone Harbor or an affiliate of Stone Harbor serves as the investment
manager and receives a management fee. Stone Harbor may receive a higher management fee
for investment management services that it provides to Stone Harbor funds than it receives for
separately managed accounts implementing a similar strategy, which poses a conflict of interest
to Stone Harbor when making such allocation decisions. However, should any assets of a client’s
separately managed account be invested by Stone Harbor in a Stone Harbor fund at any time,
the fee paid by the client’s separately managed account shall be reduced to reflect that client
account’s pro rata share of the investment management fee paid by such fund to Stone Harbor.
Stone Harbor also faces a conflict of interest from investing its separately managed account client
assets in Stone Harbor funds to the extent that Stone Harbor receives any other benefit from such
allocations. Potential benefits include improved marketability of the vehicles that Stone Harbor
manages as a result of having greater assets under management, and improved name or brand
recognition. Moreover, as further described below in Item 7, Stone Harbor faces a conflict of
interest to the extent that certain portfolio managers or related persons hold shares in such Stone
Harbor funds, as increasing the assets managed by a fund could contribute to greater economies
of scale and could enable the fund to meet minimum purchase or sale amounts for certain
investment opportunities more easily.

Stone Harbor does not generally permit or require clients to pay fees in advance. However, if a
client and Stone Harbor agree to a fee arrangement that entitles Stone Harbor to receive fees in
advance, then upon termination of the applicable investment advisory contract (or partial
redemption of an investment), fees will be rebated to the client (or underlying fund investor if
applicable) on a pro rated basis so that the client only pays fees for the period during which Stone
Harbor actually provided advisory services.

Neither Stone Harbor nor any of its supervised persons accepts compensation for the sale of
securities or other investment products, such as asset-based sales charges or service fees from
the sale of mutual funds.

Item 7 – Types of Clients

Stone Harbor provides portfolio management services to a wide variety of U.S. and non-U.S.
institutional accounts, including, but not limited to, retirement plans including pension and profit
sharing plans, state and municipal government entities, supranational organizations, sovereign
wealth funds, charitable organizations, multi-employer unions, corporations and other business
entities. In addition, Stone Harbor is the investment adviser or sub-adviser to various pooled
investment vehicles including U.S. registered investment companies (open-end and closed-end
funds), collective investment trusts, private funds and registered offshore funds such as Irish
UCITS and Irish qualifying investor funds.

In particular, Stone Harbor serves as investment adviser or sub-adviser to one or more investment
companies (or certain series of mutual funds therein) or other pooled investment vehicles within
the following fund complexes (as of the date of this document; not intended to be a complete list):

Stone Harbor Investment Funds*
Stone Harbor Emerging Markets Income Fund**
Stone Harbor Emerging Markets Total Income Fund**
Stone Harbor Investment Funds plc
Stone Harbor Global Funds plc
Stone Harbor Collective Investment Trust
Dunham Funds

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SEI Institutional International Trust
SEI Institutional Investments Trust
SEI Global Investments Limited
*Shareholders of this fund have approved a plan of reorganization by which the series of the trust
will be reorganized into new series of Virtus Opportunities Trust (“VOT”) and Stone Harbor will
serve as the sub-adviser to the “Virtus Stone Harbor” series of funds in VOT. These changes are
currently anticipated to be effective on or about the close of business of April 8, 2022.
**Stone Harbor currently anticipates that these closed-end funds are to be renamed with the
“Virtus” name as of the close of business on April 8, 2022 and will thereafter be named Virtus
Stone Harbor Emerging Markets Income Fund, and Virtus Stone Harbor Emerging Markets Total
Income Fund, respectively,

Stone Harbor’s clients may use the services of investment consultants who have introduced those
clients and other clients to Stone Harbor. Stone Harbor may purchase products or services, such
as portfolio analytics or access to databases from such investment consultants, or may pay to
attend conferences hosted by such investment consultants. In these circumstances, a consultant
may have a conflict of interest in recommending the investment advisory services of Stone Harbor
to clients because the consultant has received revenue from Stone Harbor in connection with
other aspects of the consultant business.

Stone Harbor generally requires that a client invest at least $25 million to open and maintain a
separately managed account. Stone Harbor may, in its full discretion, waive an account minimum
or increase an account minimum to open and maintain a separately managed account. Each
pooled investment vehicle for which Stone Harbor serves as an adviser or sub-adviser maintains
separate account opening and maintenance requirements, such as minimum investment amounts
and one or more investor sophistication requirements. These requirements are generally set forth
in each such pooled investment vehicle’s offering documents.

Stone Harbor’s portfolio managers and other personnel and affiliates may invest in the pooled
investment vehicles that Stone Harbor manages. In certain cases, portfolio managers or related
persons may hold shares of and/or may have provided seed capital for pooled investment vehicles
that Stone Harbor has established and which are offered to external investors. Such
arrangements may be viewed as creating an incentive for portfolio managers to favor the pooled
investment vehicles in which their own or other employee or related person assets are invested
over other accounts in the allocation of investment opportunities. However, Stone Harbor has
adopted and implemented procedures designed to ensure that all clients are treated fairly and
equally, and to prevent this conflict from influencing the allocation of investment opportunities
among clients. Please refer to Item 6 above for additional information about Stone Harbor’s
allocation decisions.

Privacy Policy
Stone Harbor’s goal is to protect non-public personal client information. Stone Harbor does not
disclose or share any non-public personal client information with anyone (including affiliates),
except as permitted by the client, required by law or otherwise provided in Stone Harbor’s Privacy
Policies and Procedures. As a registered investment adviser, Stone Harbor is subject to the
requirements of Regulation S-P, which seeks to prevent the disclosure of certain non public client
information to third parties, and requires that Stone Harbor establish administrative, technical and
physical safeguards that are reasonably designed to: (1) ensure the security and confidentiality
of client records and information; (2) protect against any anticipated threats or hazards to the
security or integrity of client records and information; and (3) protect against unauthorized access
to or use of client records or information that could result in substantial harm or inconvenience to

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any client. Regulation S-P applies to non-public personal information about natural persons who
obtain financial products or services primarily for personal, family or household purposes from
certain types of institutions, including investment advisers. Regulation S-P does not apply to
information about companies or institutions or about natural persons who obtain financial products
or services primarily for business, commercial or agricultural purposes. In addition, Stone Harbor
complies with the requirements of the European Union General Data Protection Regulation
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