EX-28.d.4.u.1

EXHIBIT A

SUBADVISORY AGREEMENT

AMONG

NATIONWIDE MUTUAL FUNDS,

NATIONWIDE FUND ADVISORS

AND LOS ANGELES CAPITAL MANAGEMENT LLC

Effective September 11, 2024*

As Amended July 10, 2025

 

Funds of the Trust		Subadvisory Fees
Nationwide International Equity Portfolio		0.24% on Aggregate Subadviser Assets† of up to $500 million;
		0.22% on Aggregate Subadviser Assets† of $500 million and more but less than $1 billion; and 0. 20% on Aggregate Subadviser Assets† of $1 billion and more
Nationwide Large Cap Equity Portfolio		0.24% on Aggregate Subadviser Assets† of up to $500 million; 0.22% on Aggregate Subadviser Assets† of $500 million and more but less than $1 billion; and 0.20% on Aggregate Subadviser Assets† of $1 billion and more

^†The term “Aggregate Subadviser Assets” shall mean the aggregate amount resulting from the combination of Subadviser Assets of the Nationwide International Equity Portfolio together with the Subadviser Assets of the Nationwide Large Cap Equity Portfolio.

*As approved at the Board of Trustees Meeting held on June 9-10, 2025.

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IN WITNESS WHEREOF, the parties hereto have executed this Exhibit A on the effective date set forth above.

 

		TRUST
		NATIONWIDE MUTUAL FUNDS
		By: /s/Christopher Graham
		Name: Christopher Graham
		Title: SVP, Chief Investment Officer
		ADVISER
		NATIONWIDE FUND ADVISORS
		By: /s/ Christopher Graham
		Name: Christopher Graham
		Title: SVP, Chief Investment Officer
		SUBADVISER
		LOS ANGELES CAPITAL MANAGEMENT LLC
		By: /s/ Daniel Allen
		Name: Daniel Allen
		Title: CEO and President