Argonaut Asset Management Inc

Item 5          Fees and Compensation
Advisory Fees

Makara earns its fees and compensation by providing asset management services. Makara’s
compensation consists of a fee based on a percentage of the Client’s assets under management (the
“Management Fee”). Makara’s Management Fee for each account is 1.0% (on an annual basis) of
the closing amount of net assets under management.
 Management / Advisory Fee                    1.0% per annum

Makara does not charge fees for managing individual portfolios above the Management Fee
described above.

Billing

At the end of every month, Makara directly bills Clients for Management Fees incurred. The
Management Fee is assessed in arrears based on the Client’s account balance at end of the prior
month and deducted from the Client’s account. If Clients terminate their accounts or transfer assets
out of their accounts prior to the end of a month, they are still subject to any unbilled fees incurred
at the time of account termination or transfer.

Other Fees & Expenses

Makara also charges fees for the servicing of accounts and the processing/distribution of
documents. A complete fee table is included below:
            FEE DESCRIPTION                                      AMOUNT
  Returned Check, ACH, Wire, & Stop              $20.00 each
  Payment Fee
  Account Transfer Fee                           $10.00 each
  Wire Transfer Fee                              $0.00
  Electronic Statements                          $0.00
  Overnight Mail                                 $30 each

It is possible that Clients could pay more through the Makara fee structure than if they were to
purchase digital assets or interests in portfolios similar to Makara’s if they were to purchase those
assets and related services elsewhere. For example, Clients might pay less if they were to directly
trade assets on an exchange.

In addition to the fees above, Clients will bear expenses associated with trading and custody (up
to 0.35% on each transaction) charged by the Custodian, as defined in Item 12. Clients should also
be aware that transactions occurring on a blockchain typically require transaction fees from the
exchange, custodian, and/or blockchain itself. Some examples of on-blockchain transactions
would include funding or withdrawing from a Makara account in cryptocurrency, purchases of
digital assets, and sales of digital assets. Such expenses will be paid directly from the Client’s
account to the recipient, as applicable. For more information on Makara’s brokerage and exchange-
related practices, please refer to Item 12 of this Brochure.

Refund Policy

Makara has no formal refund policy because advisory fees payable are assessed in arrears.

Other Compensation

Makara does not accept compensation for the sale of securities or other investment products,
including asset-based sales charges or service fees from the sale of mutual funds.

Item 7          Types of Clients

The type of Clients to whom Makara generally provides investment advice is retail investors. A
retail investor, also known as an individual investor, is a non-professional investor. Makara
requires Clients to commit at least $50 in order to open an account; Clients must then maintain an
account minimum of $25. If Clients’ accounts drop below the threshold, Clients will not be able
to place trades or otherwise adjust their holdings. They would only be able to liquidate or add
funds to their accounts. Makara may, in its sole discretion, raise or lower the minimum requirement
with respect to certain Clients. Makara will notify Clients of any change to these amounts through
the platform.