Amended as of November 1, 2019 to the EXPENSE LIMITATION AGREEMENT dated December 15, 2016 between THE ADVISORS’ INNER CIRCLE FUND III and GQG PARTNERS LLC MAXIMUM ANNUAL OPERATING EXPENSE LIMITS

SCHEDULE A

Amended as of November 1, 2019

to the

EXPENSE LIMITATION AGREEMENT

dated December 15, 2016 between

THE ADVISORS’ INNER CIRCLE FUND III

and

GQG PARTNERS LLC

MAXIMUM ANNUAL OPERATING EXPENSE LIMITS

This Agreement relates to the following Funds of the Trust:

Name of Fund	Share Class	Maximum Annual Operating Expense Limit	Initial Term End Date
GQG Partners Emerging Markets Equity Fund	Investor	0.98%	November 30, 2020
	Institutional
	R6
GQG Partners US Select Quality Equity Fund	Investor	0.59%	November 30, 2019
	Institutional
	R6
GQG Partners Global Quality Equity Fund	Investor	0.75%	November 30, 2020
	Institutional
	R6

ACKNOWLEDGED AND ACCEPTED BY:
THE ADVISORS’ INNER CIRCLE FUND III
By:	/s/Xxxxx Xxxxxxxxx
Name:	Xxxxx Xxxxxxxxx
Title:	Vice President and Assistant Secretary
GQG PARTNERS LLC
By:	/s/Xxxxxxx Xxxxxxx
Name:	Xxxxxxx Xxxxxxx
Title:	Chief Operating Officer

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