APPENDIX A

Multiple Classes of Shares and Respective Fees and Sales Charges

FUND	Maximum Initial Sales Charge	Maximum CDSC	Maximum 12b-1 Fee	Maximum Shareholder Servicing Fee	Redemption/ Exchange Fees(1)
Brown Advisory Growth Equity Fund
Investor Shares (BIAGX)	None	None	None	0.15%	1.00%
Advisor Shares (BAGAX)	None	None	0.25%	0.15%	1.00%
Institutional Shares (BAFGX)	None	None	None	None	1.00%
Brown Advisory Flexible Equity Fund
Investor Shares (BIAFX)	None	None	None	0.15%	1.00%
Advisor Shares (BAFAX)	None	None	0.25%	0.15%	1.00%
Institutional Shares (BAFFX)	None	None	None	None	1.00%
Brown Advisory Small-Cap Growth Fund
Investor Shares (BIASX)	None	None	None	0.15%	1.00%
Advisor Shares (BASAX)	None	None	0.25%	0.15%	1.00%
Institutional Shares (BAFSX)	None	None	None	None	1.00%
Brown Advisory Small-Cap
Fundamental Value Fund
Investor Shares (BIAUX)	None	None	None	0.15%	1.00%
Advisor Shares (BAUAX)	None	None	0.25%	0.15%	1.00%
Institutional Shares (BAUUX)	None	None	None	None	1.00%
Brown Advisory Maryland Bond Fund
Investor Shares (BIAMX)	None	None	None	0.05%	1.00%
Advisor Shares	None	None	0.25%	0.05%	1.00%
Institutional Shares	None	None	None	None	1.00%
Brown Advisory Intermediate Income Fund
Investor Shares (BIAIX)	None	None	None	0.05%	1.00%
Advisor Shares (BAIAX)	None	None	0.25%	0.05%	1.00%
Institutional Shares	None	None	None	None	1.00%
Brown Advisory Equity Income Fund
Investor Shares (BIADX)	None	None	None	0.15%	1.00%
Advisor Shares (BADAX)	None	None	0.25%	0.15%	1.00%
Institutional Shares (BAFDX)	None	None	None	None	1.00%
Brown Advisory Tax-Exempt Bond Fund

Investor Shares (BIAEX)	None	None	None	0.05%	1.00%
Advisor Shares	None	None	0.25%	0.05%	1.00%
Institutional Shares (BTEIX)	None	None	None	None	1.00%
Brown Advisory Sustainable Growth Fund
Investor Shares (BIAWX)	None	None	None	0.15%	1.00%
Advisor Shares (BAWAX)	None	None	0.25%	0.15%	1.00%
Institutional Shares (BAFWX)	None	None	None	None	1.00%
Brown Advisory Emerging Markets Select Fund
Investor Shares (BIAQX)	None	None	None	0.15%	1.00%
Advisor Shares (BAQAX)	None	None	0.25%	0.15%	1.00%
Institutional Shares (BAFQX)	None	None	None	None	1.00%
Brown Advisory – WMC Strategic European Equity Fund
Investor Shares (BIAHX)	None	None	None	0.15%	1.00%
Advisor Shares (BAHAX)	None	None	0.25%	0.15%	1.00%
Institutional Shares (BAFHX)	None	None	None	None	1.00%
Brown Advisory Mortgage Securities Fund
Investor Shares (BIAZX)	None	None	None	0.05%	1.00%
Advisor Shares	None	None	0.25%	0.05%	1.00%
Institutional Shares (BAFZX)	None	None	None	None	1.00%
Brown Advisory Total Return Fund
Investor Shares (BIATX)	None	None	None	0.05%	1.00%
Advisor Shares	None	None	0.25%	0.05%	1.00%
Institutional Shares (BAFTX)	None	None	None	None	1.00%
Brown Advisory Global Leaders Fund
Investor Shares (BIALX)	None	None	None	0.15%	1.00%
Advisor Shares	None	None	0.25%	0.15%	1.00%
Institutional Shares (BAFLX)	None	None	None	None	1.00%
Brown Advisory Sustainable Bond Fund
Investor Shares (BASBX)	None	None	None	0.05%	1.00%
Advisor Shares	None	None	0.25%	0.05%	1.00%
Institutional Shares (BAISX)	None	None	None	None	1.00%
Brown Advisory Mid-Cap Growth Fund
Investor Shares (BMIDX)	None	None	None	0.15%	1.00%
Advisor Shares	None	None	0.25%	0.15%	1.00%
Institutional Shares (BAFMX)	None	None	None	None	1.00%

Brown Advisory – Beutel Goodman Large-Cap Value Fund
Investor Shares	None	None	None	0.15%	1.00%
Advisor Shares	None	None	0.25%	0.15%	1.00%
Institutional Shares (BVALX)	None	None	None	None	1.00%
Brown Advisory Tax-Exempt Sustainable Bond Fund
Investor Shares (BITEX)	None	None	None	0.05%	1.00%
Advisor Shares	None	None	0.25%	0.05%	1.00%
Institutional Shares	None	None	None	None	1.00%
Brown Advisory Sustainable Small-Cap Core Fund
Investor Shares (BIAYX)	None	None	None	0.15%	1.00%
Advisor Shares	None	None	0.25%	0.15%	1.00%
Institutional Shares (BAFYX)	None	None	None	None	1.00%
Brown Advisory Sustainable International Leaders Fund
Investor Shares (BISLX)	None	None	None	0.15%	1.00%
Advisor Shares	None	None	0.25%	0.15%	1.00%
Institutional Shares (BAILX)	None	None	None	None	1.00%

(1)For all Fund shares redeemed within 14 days of purchase.

As adopted by the Board of Trustees: May 2, 2012

As renewed by the Board of Trustees: February 8, 2022