Contract

23(h)(3)(b) Expense Limitation Agreement — Amended Schedules A and B dated November 30, 2009

SCHEDULE A
DATED NOVEMBER 30, 2009
TRANSAMERICA FUNDS

OPERATING EXPENSE LIMITS

     This Agreement relates to the following Funds of the Company:

										MAXIMUM OPERATING
		CLASS A, B, C,								EXPENSE LIMIT
FUND NAME		I, I2, R and T				CLASS P				EFFECTIVE THROUGH
Transamerica AEGON High Yield Bond			1.24	%			0.90	%*		March 1, 2011
Transamerica AllianceBernstein International Value			1.13	%			N/A			March 1, 2010
Transamerica Asset Allocation — Conservative Portfolio			0.45	%			N/A			March 1, 2010
Transamerica Asset Allocation — Growth Portfolio			0.45	%			N/A			March 1, 2010
Transamerica Asset Allocation — Moderate Growth Portfolio			0.45	%			N/A			March 1, 2010
Transamerica Asset Allocation — Moderate Portfolio			0.45	%			N/A			March 1, 2010
Transamerica Balanced			1.45	%			1.10	%*		March 1, 2011
Transamerica BlackRock Global Allocation			1.00	%			N/A			March 1, 2010
Transamerica BlackRock Large Cap Value			1.00	%			N/A			March 1, 2010
Transamerica BlackRock Natural Resources			1.00	%			N/A			March 1, 2010
Transamerica BNY Mellon Market Neutral Strategy			1.65	%**			N/A			March 1, 2010
Transamerica Clarion Global Real Estate Securities			N/A				N/A			March 1, 2010
Transamerica Diversified Equity			1.17	%			1.15	%*		March 1, 2011
Transamerica Equity			1.17	%			1.15	%*		March 1, 2011
Transamerica Federated Market Opportunity			1.05	%			N/A			March 1, 2010
Transamerica First Quadrant Global Macro			1.65	%			N/A			November 1, 2010
Transamerica Flexible Income			1.50	%			N/A			March 1, 2010
Transamerica Focus			1.20	%			1.40	%*		March 1, 2011
Transamerica Growth Opportunities			1.40	%			1.40	%*		March 1, 2011
Transamerica Xxxxxxxx Growth			N/A				N/A			March 1, 2010
Transamerica JPMorgan Core Bond			0.70	%			N/A			June 30, 2010
Transamerica JPMorgan International Bond			0.75	%			N/A			March 1, 2010
Transamerica JPMorgan Mid Cap Value			1.05	%			N/A			March 1, 2010
Transamerica Xxxxxx Xxxxxx Bond			0.88	%			N/A			March 1, 2010
Transamerica MFS International Equity			N/A				N/A			March 1, 2010
Transamerica Money Market			0.48	%			0.48	%		March 1, 2011
Transamerica Multi-Manager Alternative Strategies Portfolio			0.55	%			N/A			March 1, 2010
Transamerica Multi-Manager International Portfolio			0.45	%			N/A			March 1, 2010
Transamerica Xxxxxxxxx Xxxxxx International			1.25	%			N/A			March 1, 2010
Transamerica Xxxxxxxxxxx Developing Markets			1.45	%			N/A			March 1, 2010
Transamerica Xxxxxxxxxxx Small- & Mid-Cap Value			1.15	%			N/A			March 1, 2010
Transamerica PIMCO Real Return TIPS			N/A				N/A			March 1, 2010
Transamerica PIMCO Total Return			N/A				N/A			March 1, 2010
Transamerica Schroders International Small Cap			1.27	%			N/A			March 1, 2010
Transamerica Short-Term Bond			0.85	%†			N/A			March 1, 2010
Transamerica Small/Mid Cap Value			1.40	%			N/A			March 1, 2010
Transamerica Third Avenue Value			1.00	%			N/A			March 1, 2010
Transamerica Xxxxxxxxx International Value			1.35	%			N/A			March 1, 2010
Transamerica UBS Large Cap Value			1.02	%			N/A			March 1, 2010

										MAXIMUM OPERATING
		CLASS A, B, C,								EXPENSE LIMIT
FUND NAME		I, I2, R and T				CLASS P				EFFECTIVE THROUGH
Transamerica Xxx Xxxxxx Emerging Markets Debt			1.15	%			N/A			March 1, 2010
Transamerica Xxx Xxxxxx Mid-Cap Growth			1.00	%			N/A			March 1, 2010
Transamerica Xxx Xxxxxx Small Company Growth			1.15	%			N/A			March 1, 2010
Transamerica WMC Emerging Markets			1.40	%			N/A			March 1, 2010

*		The expense caps for Class P shares are inclusive of 12b-1 fees.
**		Exclusive of dividend expense on short sales.
†		Effective May 1, 2009, the Investment Manager agreed to further reduce the Fund Operating Expenses of Transamerica Short-Term Bond by waiving 0.10% of its investment management fees payable to it by Transamerica Short-Term Bond for one year through May 1, 2010. In addition, the Investment Manager agrees that 0.10% of the 0.35% 12b-1 fee applicable to Class A shares of Transamerica Short-Term Bond will be waived for one year through May 1, 2010.

SCHEDULE B
DATED NOVEMBER 30, 2009
TRANSAMERICA FUNDS

FUNDS SUBJECT TO EXPENSE REIMBURSEMENT

FUND NAME

Transamerica AEGON High Yield Bond*

Transamerica AllianceBernstein International Value*

Transamerica Asset Allocation — Conservative Portfolio

Transamerica Asset Allocation — Growth Portfolio

Transamerica Asset Allocation — Moderate Growth Portfolio

Transamerica Asset Allocation — Moderate Portfolio

Transamerica Balanced

Transamerica BlackRock Global Allocation*

Transamerica BlackRock Large Cap Value

Transamerica BlackRock Natural Resources

Transamerica BNY Mellon Market Neutral Strategy

Transamerica Diversified Equity

Transamerica Equity*

Transamerica Federated Market Opportunity*

Transamerica First Quadrant Global Macro

Transamerica Flexible Income

Transamerica Focus

Transamerica Growth Opportunities*

Transamerica JPMorgan Core Bond

Transamerica JPMorgan International Bond*

Transamerica JPMorgan Mid Cap Value

Transamerica Xxxxxx Xxxxxx Bond

Transamerica Money Market

Transamerica Multi-Manager Alternative Strategies Portfolio

Transamerica Multi-Manager International Portfolio*

Transamerica Xxxxxxxxx Xxxxxx International*

Transamerica Xxxxxxxxxxx Developing Markets*

Transamerica Xxxxxxxxxxx Small-& Mid-Cap Value

Transamerica Schroders International Small Cap

Transamerica Short-Term Bond

Transamerica Small/Mid Cap Value

Transamerica Third Avenue Value

Transamerica Xxxxxxxxx International Value

Transamerica UBS Large Cap Value

Transamerica Value Balanced*

Transamerica Xxx Xxxxxx Emerging Markets Debt

Transamerica Xxx Xxxxxx Mid Cap Growth*

Transamerica Xxx Xxxxxx Small Company Growth

Transamerica WMC Emerging Markets

* The Fund may not recapture any fees waived and/or reimbursed prior to March 1, 2008.