Massachusetts Water Resources Authority (“MWRA”) Employees’ Retirement System

Terms and Service Providers Minimum Subscription Fiscal Year Reporting Management Fee Lockup Liquidity Notice Period Administrator Prime Broker Auditor Legal Counsel Terms above are for the strategy's 3(c)(1) domestic limited partnership. $1,000,000 Calendar Monthly performance and attribution, quarterly commentaries and annual audited financials Net Asset Value $0-$24,999,999 $25,000,000-$99,999,999 $100,000,000 or greater None Monthly 30 days written notice SEI Global Services, Inc. Morgan Stanley & Co. PricewaterhouseCoopers LLP Willkie Farr & Gallagher LLP Management Fee Rate 1.50% per annum (0.125% per month) 1.25% (0.1041% per month) 1.00% (0.0833% per month) 20

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