Symetra Investment Management Company

Item 5.          Fees and Compensation

Advisory Fees

Compensation for SIM’s investment management services is negotiable and typically is based upon a
percentage of assets under management. SIM tailors its advisory services based on the needs of the client
and, as such, the advisory fee agreed to with the client depends on the scope of services SIM provides.
See Appendix A for SIM’s standard fee schedule for separately managed accounts. SIM does not have a
standard fee schedule for all investment strategies. Notwithstanding the standard fee schedules for certain
strategies, fee arrangements will vary by client and will depend on a number of factors, including, without
limitation, the characteristics of the investment mandate, aggregate size of the client relationship with SIM
and its Affiliates, and reporting and services requirements. Even within the same investment strategy,
different clients or accounts sometimes have different fee structures.

SIM generally charges its advisory fee in arrears on either a monthly or quarterly basis. SIM will prorate
advisory fees based on the actual number of days on which advisory services have been provided to
accommodate any off cycle fundings or liquidations, if applicable.

SIM also charges certain fees in connection with its operations services.

A client can choose to (i) direct its custodian to deduct advisory fees directly from the client’s custodian
account or (ii) pay advisory fees directly to SIM outside of the client’s custodian account.

Other Account Expenses

In addition to paying the above advisory fees to SIM, pursuant to each client’s investment management
agreement, client accounts may also be subject to other expenses that are not paid to SIM. These include
(if applicable but are not limited to): (i) fees, costs and expenses of third-party service providers that
provide legal, administrative, accounting, compliance, consulting, custodial, investment operations, tax
and audit services to SIM in connection with the business and affairs of the client’s account (expenses
including, but not limited to, research related expenses, expenses related to monitoring investments and
costs incurred in carrying out due diligence regardless of whether a particular transaction is consummated
(including reasonable travel and accommodation costs)); (ii) legal and tax costs incurred by SIM in
connection with the business and affairs of the client’s account; (iii) insurance costs and expenses, bank
service fees and any electronic transfer fees; (iv) fees and taxes imposed by any federal, state, local or
foreign government, governmental agency or regulatory body or self-regulatory organization, including
licensing, filing, registration and exemption fees and withholding, transfer and franchise taxes; (v) costs
and expenses incurred in connection with the direct investment and reinvestment of the client account’s
assets, including brokerage commissions, dealer mark-ups, mark-downs and spreads, and related clearing
and settlement charges and any other expenses related to buying and selling securities, including any issue
or transfer taxes chargeable in connection with any securities transactions and clearing and settlement
charges; and (vi) litigation or other extraordinary expenses.

A client can choose to allow its assets to be invested in money market mutual funds, registered open-end
and closed-end funds, unregistered private funds and other similar pooled investment vehicles. In these
cases, unless otherwise provided, the client will bear its pro rata share of the investment management and
other fees imposed by the specific fund but ultimately borne by such fund’s investors and are in addition
to the investment management fee paid to SIM. Such fund expenses incurred, if any, will be borne by
participating clients in a manner proportionate to such client’s participation in a fund (i.e., a client will not
bear a disproportionate amount of transaction expenses relative to its proportion of beneficial ownership
in a fund).

Please also see Item 12 for additional information relating to SIM’s brokerage practices.

Item 7.           Types of Clients

As noted previously in Item 4, SIM offers advisory services to institutional clients, which include certain
of its Affiliates and may include other third-party institutions or entities such as insurance companies,
trusts and CLOs.