MUTUAL FUND OPERATING AGREEMENTMutual Fund Operating Agreement • December 14th, 2018 • GMO Series Trust • New York
Contract Type FiledDecember 14th, 2018 Company JurisdictionThis Operating Agreement (the “Agreement”) is made effective as of this 25th day of May, 2018, by and among GMO Series Trust (“Series Trust”), on behalf of each of the funds listed on Schedule A (each a “Fund”, collectively the “Funds”) and BNY Mellon, N.A. (“Custodian”), a national banking association, with regards to each of the funds listed on Schedule A attached hereto (the “Funds”) which may be amended by mutual agreement of the parties in writing.