Amended Appendix A to the Plan of Distribution and Servicing Under Rule 12b-1

APPENDIX A

LIST OF FUNDS

May 5, 2026


Funds		Distribution and Servicing Fee

Baron First Principles ETF		0.25%

Baron Global Durable Advantage ETF		0.25%

Baron SMID Cap ETF		0.25%

Baron Emerging Markets Select ETF		0.25%

Baron Risk Optimized Large Cap ETF		0.25%