Aegis Capital Corp

Item 5 Fees and Compensation
Description

Adviser bases its compensation and fees primarily on a percentage of assets under management.

If most transaction costs are charged to the client

        On the first $250,000 of assets the maximum fee is 2.50%, on the next $750,000 the
        max imu m fee is 2.25% and any assets over $1,000,000 the maximum fee is 2.00%.

If most transaction costs are charged to the Adviser:

        On the first $250,000 of assets the maximum fee is 3.00%, on the next $750,000 the maximum
        fee is 2.75% and any assets over $1,000,000 the maximum fee is 2.50%.

There are three different ways that the fee may be charged on your account; Floating Rate, Incremental
Rate or Fixed Rate. The Client Agreement will indicate which fee choice will be in effect for your account.

        Floating Rate – the account will be charged a pro-rated portion of the annual percentage fee based
        on the total AUM of the account at the time of billing (quarterly) according to the table in the Client
        Agreement; this rate may change each billing period depending on the account value. The rate will
        potentially “float” according to the account value.

Form ADV Part 2A Firm Brochure                                                          2/26/2026

        Incremental Rate – each AUM tier of the account will be charged a different pro-rated portion of
        the annual percentage fee at the time of billing (quarterly) according to the table in the Client
        Agreement; each tier may be charged a different rate. The rate will potentially be charged in
        “increments” according to the account value.

        Fixed Rate – the account will be charged the same pro-rated portion of the annual percentage fee
        of the AUM at the time of billing (quarterly) according to the percentage indicated in the Client
        Agreement. The rate is “fixed” regardless of the account value.

Adviser may negotiate the amount and calculation of the fee and any other fees charged by Adviser for
services not covered by the fee based on a number of factors, including the type and size of the account,
anticipated level of trading activity, services provided to the account, historical factors and the scope of the
client’s relationship with Adviser. In addition, Adviser’s negotiation of the fee is generally subject to certain
guidelines based on the total value of assets invested, or expected to be invested, by the client across
Adviser’s various investment advisory programs.

The amount of the fee will be specified in the Client Agreement provided to the client. The fee charged to
a client may be higher or lower than the fee Adviser charges other clients in investment advisory programs,
and/or the cost of similar services offered through other financial firms.

The Aegis broker-dealer generally charges $10.00 per transaction for executing transactions. A portion of
the transaction fee is additional revenue to Aegis. Clients must also consult the RBC and AXOS Fee
Schedules for fees that the Adviser generally passes through to clients (see additional discussion of “Other
Fees” below).

Aegis typically pays a portion of the fee it receives from each client in the Program to the IA Rep of that
client. The exact portion of the fee paid by Aegis to IA Reps may vary and also may depend on IA Reps’
overall annual revenue production.

Because the amount received by Aegis and an IA Rep as a result of a client’s participation in the Program
may be more than the IA Rep would receive if the client participated in another Program or paid separately
for all investment advice, brokerage, and other services, the IA Rep may have a financial incentive to
recommend one Program over other Programs or services.

Participation in a particular Program may also cost the client more or less than purchasing the services
provided in a Program separately. The factors that bear upon the relative cost of the Program include: (i)
the cost of the services if provided and charged for separately; (ii) the fee charged to the client in the
Program; (iii) the trading activity in the client’s account; and (iv) the quality and value of the services
provided.

For example, IA Reps may utilize a “buy-and-hold” investment strategy that generally seeks investments
intended to be held on a long-term basis. Program accounts invested according to such a strategy may
experience less trading activity and lower turnover than accounts invested according to a shorter-term
strategy. Therefore, because the client pays the full fee regardless of the low number of transactions in the
account, such an account increases the likelihood that the client would pay less for the Program’s services
(including brokerage services) by participating in one of the other programs rather than an RBC/AXOS-
sponsored program, which would incur an increased program fee.

Fee Billing

Form ADV Part 2A Firm Brochure                                                            2/26/2026

Investment management fees are billed quarterly in advance, meaning that we bill/charge you/your
account before the three-month billing period has begun. Payment in full is expected upon invoice
presentation. Fees are usually deducted from a designated client account to facilitate billing. The client
must consent in advance to direct debiting of their investment account. If a client terminates its advisory
relationship with the Adviser within a calendar quarter, the client understands that Adviser may retain the
entire fee collected for that calendar quarter. For the avoidance of doubt, the management fee may not be
pro-rated and the Adviser may not refund any part of it to the client.

Other Fees

The Program fee does not cover, and is in addition to, commissions, commission equivalents (“mark-ups” or
“mark-downs”) or other charges resulting from transactions not effected by RBC/AXOS or clearing,
...

Item 7 Types of Clients
Description

Advisers generally provide investment advice to individuals, pension and profit-sharing plans, trusts,
estates, or charitable organizations, corporations or business entities. Client relationships vary in scope
and length of service.

Account Minimums

There is no minimum account size for participating in the Program set by the Adviser. However, each IA
Rep or third-party manager managing accounts in the Program may apply his or her own minimum account
size for Program accounts managed by him or her. In addition, an IA Rep or third-party manager may apply
different minimum account sizes to the different investment strategies he or she manages in the Program.
Each IA Rep or third-party manager may change or waive the minimum account size he or she applies at
any time in his or her discretion. Therefore, the existence, amount and application of a minimum account
size will vary by IA Rep and third-party manager and may change over time. In addition, an IA Rep or third-
party manager may require a higher minimum account size if the client wishes to use a custodian other than
RBC/AXOS and Adviser, in its discretion, is willing to maintain the account on such a basis. RBC/AXOS
may also insist on a minimum account size for certain Programs available through the Adviser.

Form ADV Part 2A Firm Brochure                                                         2/26/2026

The accounts of employee benefit plans (as defined in the Employee Retirement Income Security Act of
1974, as amended (“ERISA”)), and retirement plans (as defined in Section 4975(e)(1) of the Internal
Revenue Code of 1986, as amended), which includes IRAs, may be subject to certain Adviser policies,
restrictions and other terms and conditions that are different from those applicable to other accounts in the
Program. Such policies, restrictions and other terms and conditions may affect, for example, the securities
that may be available for investment in such accounts, the manner in which transactions may be affected in
such accounts, the ability of such accounts to trade on margin, and the fees and expenses that may be charged
to such accounts. As a result, application of the policies, restrictions and other terms and conditions may
result in the performance of employee benefit plan and retirement plan accounts being less than it would
have been absent such policies, restrictions and terms and conditions.