Schedule B

DISTRIBUTION AND SERVICE PLAN

(Rule 12b-1 Plan)

(as amended on March 9, 2016, to add the Pzena Small Cap Value Fund)

Series or Fund of Advisors Series Trust

Pzena Mid Cap Value Fund

Pzena Emerging Markets Value Fund

Pzena Long/Short Value Fund

Pzena Small Cap Value Fund

ADVISORS SERIES TRUST

on behalf of the Funds listed on Schedule B

By:  /s/Douglas G. Hess

Name:  Douglas G. Hess

Title:  President