Anthony Capital Management LLC

Item 5: Fees and Compensation

Anthony Capital’s compensation for the investment advisory services it provides to the mutual
fund is comprised of a management fee. The fees and expenses with respect to the mutual
fund are set forth in the investment management agreements between Anthony Capital and
its Client. A brief summary of such fees is provided below.

Management Fee

Anthony Capital is paid an investment management fee (“Management Fee”) per annum of
the net asset value of the Client.

The Fee will range from 0.25% to 1.00%.

The Firm, in its sole discretion, may waive or modify the Management Fee.

Expenses

Anthony Capital is authorized to incur and pay in the name and on behalf of its Client all
expenses which they deem necessary or advisable.

The Firm is responsible for and shall pay, or cause to be paid, all of their own ordinary
administrative and overhead expenses, including, without limitation, all costs and expenses
related to rent, furniture, fixtures, equipment, office supplies, clerical expenses and all
salaries, bonuses and benefits paid to, or on behalf of, personnel of the Firm.

To the extent that expenses to be borne by the Client are paid by the Firm, the Client will
reimburse the Firm for such expenses. We may waive any such reimbursement with respect

Anthony Capital Management, LLC                                                 Form ADV Part 2A

to any Client expenses. Any waiver by us for reimbursement of any Client expenses shall not
serve as a waiver of reimbursement for any future Client expenses to be paid by us.

Neither Anthony Capital nor its employees accept compensation, including sales charges or
service fees, from any person for the sale of securities or other investment products.