Argent Capital Management LLC

Item 5: Fees and Compensation

        Separate Account Fees
Argent’s fees are established in a written Investment Advisory Agreement, and are typically calculated
as a percentage of assets under management according to the following schedule:

                                   Standard Fee Schedule (All Strategies)
                                            1.00% on first $1,000,000
                                           0.80% on next $2,000,000
                                                0.65% on balance
                                 Institutional Fee Schedule (All Strategies)
                                           0.75% on first $10,000,000
                                          0.55% on next $15,000,000
                                                0.50% on balance

Standard and Institutional account fees are typically billed quarterly in advance, based on the market
value of each client account as of the last day of the prior quarter. We may negotiate or waive fees in
certain circumstances. We pro-rate fees for accounts that have been funded less than a calendar
quarter at the time of billing.

Argent’s fees do not include custodian fees, brokerage commissions or securities transaction fees
charged by a client’s custodian and/or broker/dealer. Our fees also do not include any fees that may
be charged by mutual fund companies for accounts that hold mutual fund shares. Such charges, fees
and commissions incurred by the client are in addition to our fee, and we shall not receive any portion
of these charges, fees and commissions. Please see “Brokerage Practices” on page 9 for the factors
that we consider in selecting broker-dealers for client transactions and determining the
reasonableness of their commissions.

Argent will assist clients in establishing a custodial account at the client’s request. Clients typically
grant us authority to deduct our fees directly from the client’s custodial account, although we may
send an invoice directly to clients upon their request. Argent will direct the custodian to send clients a
statement reflecting the deduction of all fees from the account The client is responsible for verifying
the accuracy of the fee calculation, as the client’s custodian will not determine if the fee was properly
calculated. Clients retain ownership of all funds and securities in their accounts.

Clients may terminate an Investment Advisory Agreement upon written notice to Argent, or as
otherwise noted in their Investment Advisory Agreement with Argent. Clients will receive a pro-rata
refund of any advisory fees paid, but not yet earned, as of the date of termination.

Argent may act as an independent investment manager pursuant to an agreement where an
unaffiliated investment manager may allocate a portion of a client’s investment assets to implement
an Argent strategy. The investment management fee charged by Argent is separate from, and in
addition to, unaffiliated investment manager advisory fee.

Argent Capital Management, LLC — 2026 Disclosure Brochure                                       Page 3

Item 7: Types of Clients
Argent provides investment advice to endowments, foundations, pension funds, investment
companies and high net worth individuals. For new standard (non-institutional) accounts, we have
established minimum initial account values of $150,000 and for institutional accounts a minimum of
$2,000,000 for all strategies, which may be waived or lowered at our discretion. Accounts maintained
at levels below the stated initial account values will be periodically reviewed with the client.