AMENDED AND RESTATED EXHIBIT A TO MANAGEMENT AGREEMENT –

FUNDS AND MANAGEMENT FEES

Pursuant to Section 6(a) of the Management Agreement, the Trust shall pay to NTI a fee at the annual rate calculated as a percentage of each Current Fund’s assets as set forth below:

 

Fund

     

FEE RATE (%)

       First $1 Billion      Next $1 Billion      Over $2 Billion

Active M Emerging Markets Equity Fund

      0.95%*      0.922%*      0.894%*

Active M International Equity Fund

      0.82%        0.795%       0.771%

Multi-Manager Global Listed Infrastructure Fund

      0.90%        0.873%       0.847%

Multi-Manager Global Real Estate Fund

      0.78%*      0.757%*      0.734%*

Fund

     

FEE RATE (%)

       First $1.5 Billion      Next $1 Billion      Over $2.5 Billion

Multi-Manager High Yield Opportunity Fund

      0.65%       0.631%      0.612% 

* Effective: July 31, 2026

 

NORTHERN FUNDS

      

NORTHERN TRUST INVESTMENTS, INC.

By: /s/ Randal E. Rein        

     

By: /s/ Kevin P. O’Rourke        

Name: Randal Rein

      

Name: Kevin P. O’Rourke

Title: Treasurer

      

Title: Senior Vice President

Date: May 21, 2026

      

Date: May 21, 2026

 

NTAC:3NS-20