AMENDMENT TO

INVESTMENT ADVISORY AGREEMENT

WHEREAS, Fred Alger Management, LLC (“Alger Management”) and The Alger Portfolios (the “Trust”) entered into an investment advisory agreement dated January 17, 2007 (as amended, supplemented and/or restated to date, the “Agreement”) to provide certain investment advisory services to the Trust and each of its series (the “Portfolios”); and

WHEREAS, the Trust and Alger Management desire to update the fee schedule to the Agreement;

NOW THEREFORE, in consideration of the promises and mutual covenants contained herein, the parties hereby amend the Agreement, effective as of September 18, 2025, as follows:

1.  Schedule I of the Agreement is hereby deleted in its entirety and replaced with Schedule I as attached and incorporated by reference to this amendment.

2.  Except as otherwise provided herein, the terms and conditions contained in the Agreement shall remain in full force and effect. Capitalized terms herein that are not defined shall have the meanings ascribed to them in the Agreement.

IN WITNESS WHEREOF, the parties by their duly authorized officers, have caused this Amendment to be executed as of the date first written above.

 

THE ALGER PORTFOLIOS

   

  

   

FRED ALGER MANAGEMENT, LLC

By:

   

/s/ Tina Payne      

      

By:

   

/s/ Tina Payne      

Name:

   

Tina Payne

      

Name:

   

Tina Payne

Title:

   

Secretary, CCO

      

Title:

   

SVP, General Counsel, CCO

SCHEDULE I

 

Name of Portfolio    Annual Fee as Percentage of
Average Daily Net Assets		    Reapproval
Date
Alger Small Cap Growth Portfolio   

.81% for assets up to $1 billion;

.75% for assets in excess of $1 billion

 

    October 31, 2027
Alger Mid Cap Growth Portfolio   

.76% for assets up to $1 billion;

.70% for assets in excess of $1 billion

 

    October 31, 2027
Alger Large Cap Growth Portfolio   

.71% for assets up to $1 billion;

.60% for assets in excess of $1 billion

 

    October 31, 2027
Alger Growth & Income Portfolio   

.50%

 

   

October 31, 2027

 

Alger Capital Appreciation Portfolio   

.81% for assets up to $2 billion;

.65% for assets between $2 billion and $3 billion;

.60% for assets between $3 billion and $4 billion;

.55% for assets between $4 billion and $5 billion;

.45% for assets in excess of $5 billion

 

    October 31, 2027
Alger Balanced Portfolio   

.71% for assets up to $1 billion;

.55% for assets in excess of $1 billion

 

    October 31, 2027