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Copy Administration Agreement • May 31st, 2019 • Permanent Portfolio Family of Funds • Massachusetts

Exhibit (h)(3) EXECUTION COPY ADMINISTRATION AGREEMENT This Administration Agreement (“Agreement”) dated and effective as of June 29, 2018, is by and between STATE STREET BANK AND TRUST COMPANY, a Massachusetts trust company (the “Administrator”), PERMANENT PORTFOLIO FAMILY OF FUNDS, a Delaware statutory trust (the “Trust”) and, solely with respect to the payment obligations set forth in Sections 7 and 14 hereof and as otherwise specifically set forth herein, PACIFIC HEIGHTS ASSET MANAGEMENT, LLC, a limited liability company and the investment adviser to the Trust (the “Adviser”). WHEREAS, the Trust is an open-end management investment company currently comprised of multiple series (each, a “Fund” and collectively, the “Funds”), and is registered with the U.S. Securities and Exchange Commission (“SEC”) by means of a registration statement (“Registration Statement”) under the Securities Act of 1933, as amended (“1933 Act”), and the Investment Company Act of 1940, as amended (the “1940 A

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