Appendix A to the Operating Expenses Limitation Agreement (as amended April 1, 2020 for the Scharf Fund)

Appendix A

to the Operating Expenses Limitation Agreement

(as amended April 1, 2020 for the Xxxxxx Fund)

Advisors Series Trust Fund			Operating Expense Limit as a Percentage of Average Daily Net Assets
Xxxxxx Fund			0.79%
Xxxxxx Multi-Asset Opportunity Fund			0.88%
Xxxxxx Global Opportunity Fund			0.54%
Xxxxxx Alpha Opportunity Fund			0.65%

ADVISORS SERIES TRUST						XXXXXX INVESTMENTS, LLC
on behalf of the Funds listed on Appendix A
By: ___________________________________						By: ___________________________________
Name: Xxxxxxx X. Xxxxxx						Name: Xxxxx X. Xxxxxx
Title:     President						Title:    President

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