Uniplan Investment Counsel Inc

Item 5 – Fees and Compensation

We perform our investment advisory, sub-advisory, and portfolio modeling services for
compensation based on a percentage of assets under management.

The following information describes how we are compensated for each type of advisory services
arrangement that we have with our clients.

A.       Fees for Wrap Program Accounts and UMA Program Accounts.

As to our fees for our discretionary investment management services to wrap program sponsors
and our nondiscretionary services to UMA account sponsors, we charge the wrap program sponsor
and the UMA program sponsor, rather than the investor account owner, a fee for our services to
the accounts designated by the program sponsor. A schedule of our standard fees for our services
provided under wrap program and UMA program arrangements is set forth in the chart at Item
5.C., below.

As to wrap program accounts, the program sponsor calculates and pays our fee out of the proceeds
of the “wrap fee” that the account owner pays the program sponsor (in this regard, a portion of the
wrap fee paid by the account owner to the program sponsor also is used to pay brokerage
commissions and other costs incurred for securities trades in the account). Typically, our fees are

deducted monthly or quarterly from client accounts by the wrap program sponsors in accordance
with our agreement.

B.      Fees for Private/Institutional Separately Managed Account Arrangements.

Since we enter into an investment advisory agreement with the investor client in our
private/institutional separate account arrangements under both “dual contract” and “single
contract” arrangements described in Item 4.I.C. – Advisory Business, above, the client account
owner (which may be a private client or institutional client, including pooled investment vehicle)
may elect for us to invoice either the broker-dealer or custodian, or the investor client, for our fees
(although in certain circumstances, the broker-dealer or custodian may calculate our fees itself and
arrange for payment of our fees out of the investor client’s account). A schedule of our standard
fees for our services provided under both dual contract and single contract arrangements is set
forth in the chart at Item 5.C., below. Our fees do not include, and are separate from, any brokerage
commissions or other trading costs that the account may incur, as well as any other fees or costs
that any third-party service provider may charge for related services such as custodial fees, third
party investment advisory fees, consulting fees, and the like.

If the client is an employee benefit plan sponsor or trustee, the plan is obligated to pay our fees,
but in some cases the plan sponsor may elect to pay our fees by delivering to us written notice of
same.

C.      Fee Schedule.

A schedule of our standard fees for our investment advisory services is set forth below. We charge
fees for our services at a percentage rate calculated on the entire market value of your account
under management, such rate based on the amount initially held in your account. This percentage
rate stays the same regardless of any subsequent amounts added to or subtracted from the account.

The following Schedule sets forth our standard fees for investment advisory services other than
those provided to UMA programs. Our fees for services provided to UMA programs are generally
negotiable but generally range from 0.35% to 0.60%, depending upon the number of assets under
management and other pertinent factors.

               INVESTMENT TYPE                                    FEE RATE (% of AUM)
     Real Estate Investment Trusts (REITs) and         0.75% per annum for accounts of $5,000,000
     Real Estate Operating Companies (REOCs)           or less initially
                     Strategies
                                                       0.50% for accounts of greater than $5,000,000
                                                       initially
               Small Cap Strategies                    1% per annum
               Micro Cap Strategies                    1% per annum
  Equity Income Strategies (High Income Total 0.75% per annum for accounts of $500,000 or
                    Return)                   less initially

             INVESTMENT TYPE                                     FEE RATE (% of AUM)
                                                      0.50% for accounts of greater than $500,000
                                                      initially
             Fixed Income Strategies                  0.50% per annum for accounts of $5,000,000
                                                      or less initially

                                                      0.35% per annum for accounts of greater than
                                                      $5,000,000 initially
                Managers Strategy                     1% per annum

Inasmuch as our fees are based on a percentage of assets under management as described above,
the greater the amount of assets in a client’s account, the more the client will pay in fees.

D.     Specialized Strategies.

A client may pay fees greater than those listed above if the client decides to use one or more of our
additional specialized portfolio building and enhancement custom overlay strategies described in
Item 4.II., above. Generally, the additional fee for each of those additional services is 0.10% per
annum (with a minimum fee of $10,000 per annum) of the assets under management utilizing such
service.

A client may incur additional fees for our customized “Bespoke” services described in Item 4.II.,
above, in the amount of 0.25% per annum (with a minimum fee of $25,000 per annum) of the
assets under management for utilizing such service.

A client will incur fees for our Co-Advisory services with Green Alpha Investments (Next
Economy Income). Quarterly fees for Co-Advisory services are charged a fee rate calculated on
...

Item 7 – Types of Clients

We provide discretionary investment management services to high-net-worth individuals,
individual retirement accounts (“IRAs”), trusts, employee benefit plans, and broker-dealer
sponsors of wrap programs.

Our minimum account size is generally $1,000,000 (which may be comprised of more than one
account with us), except that the minimum account size is $100,000 for wrap program accounts
(however, such minimum account sizes are negotiable depending on the circumstances).

See Item 5 – Fees and Compensation, above, for a discussion of our compensation for managing
each of the following types of client accounts.

        A.      Wrap Account Programs: As more fully described in Item 4.I.A. – Advisory
Business, above, we provide investment advisory services on a sub-advisory basis to wrap
program accounts pursuant to arrangements with wrap program sponsors, all of which are
unaffiliated with us.

       B.     UMA Programs: We also offer model portfolios to UMA program sponsors on a
sub-advisory basis, all as more fully described in Item 4.I.B. – Advisory Business, above.

         C.      Private/Institutional Separate Accounts: As more fully described in Item 4.I.C.
– Advisory Business, above, we provide, on both a primary advisory and a sub-advisory basis,
portfolio management services to private and institutional separate accounts, either pursuant to
“dual contract” and “single contract” arrangements. As stated above, account owners with respect
to the private and institutional account arrangements may be high-net-worth individuals,
corporations and other business entities, other investment advisers, and pooled investment
vehicles, banks and other financial institutions, pension and profit-sharing plans subject to the
Employee Retirement Income Security Act of 1974, as amended (“ERISA”) and their sponsors,
trusts, estates, and charitable organizations. When we perform these investment advisory services
to ERISA plan clients and have an investment advisory agreement directly with the plan client, we
acknowledge that we are a “fiduciary” within the meaning of ERISA.