Notice of Commission Approval - Proposed Amendments to Fundserv Fees – Distributor Fees - Fundserv Inc.

Introduction

In accordance with the Rule Protocol Regarding the Review and Approval of Fundserv Inc. ("Fundserv") Rules contained in Fundserv's recognition order dated April 10, 2012, the Ontario Securities Commission approved amendments to Fundserv's fee schedule related to distributor fees (the "Fee Schedule") on June 5, 2025.

Summary of Proposed Amendments

Fundserv proposed to amend its Fee Schedule to increase the monthly network fee for distributors, and to increase the one-time network connectivity fee for each new distributor code issued by Fundserv.

Comments Received

The proposed amendments were published for comment on May 1, 2025, and one comment letter was received. A summary of the comment submitted, together with Fundserv's response, is attached as Appendix A.

Effective Date

The amended Fee Schedule will take effect as follows:

• effective December 1, 2025, the $100 monthly minimum fee will be eliminated for distributors;

• effective December 1, 2025, the monthly minimum fee will be replaced with the monthly fixed fee of $100 per month for distributors;

• effective December 1, 2025, the $500 one-time network connectivity fee for new distributor codes will be increased to $1,000; and

• effective December 1, 2026, the $100 monthly fixed fee will be increased to $200 per month for all distributors.

Appendix A

Summary of Comments and Responses