Thrivent Asset Management, LLC

This firm provides investment advice to other registered investment advisers, broker-dealers, trust companies and other financial intermediaries who sponsor model-based managed account programs. Fees for advisory services provided to Funds are separately negotiated between TAM and the Funds and must be approved by the Funds’ Board s of Trustees. Fees are based on a percentage of assets under management. The fees and expenses for each Fund are set forth in the corresponding prospectus for the respective Fund. Fees for model portfolio services are negotiated with and by the program sponsor. At this time, TAM does not receive any direct fees for the provision of model portfolios, although it could receive such fees if negotiated with the program sponsor. TAM does receive advisory fees for the Affiliated Underlying Funds included within a model portfolio.