ARIN Risk Advisors LLC

Item 5 Fees and Compensation Fees for Separate Accounts
Our standard fee schedule for investment management services defines the fee for each type of strategy we offer.
Some strategies use Assets under Management as the basis for the fee and others use the return enhancement or
cost savings as the basis for the fee:

   Strategy                       AUM Fee        Performance Fee             Basis for Determining the Fee
Enterprise Risk Management         0.20%               None             Firm-wide Pre-Hedge Risk Weighted Assets

Single Direction Overlays                                                Notional Value of Assets and/or Collateral
(Cash Secured Puts, Buy-
                                                        None
writes, Hedges, Directional
 Bets) Indexes or Equities          0.40%
     General Portfolio           0.50-0.80%         0.00-30.00%                           Assets
  Multi-Direction Trading           0.60%            0.00-50.00%          Notional Value of the Assets/Exposure
Customized Option Overlay         up to 1.0%             None          Notional Value of the Assets and/or Collateral
        Yield Hawk                  0.25%            0.00-50.00%        Cost Savings and/or Return Enhancement
          VegaEx                    1.50%               15.00%          Assets and Return above High-Water Mark
                                  up to 1.0%         0.00-50.00%          Enhancement above High-Water Mark
          Bespoke
  Option Index Replication         0.10% to             None             Notional Value of Assets and/or Collateral
                                    0.30%
 While our general policy to charge the stated fees above, your fees may be subject to negotiation or modification
 depending upon the nature of the services provided or your particular circumstances.

 We will quote an exact fee percentage for each account based on both the complexity and expected effort to
 manage your account. At our discretion, we may combine the account values of related parties to determine the
 applicable advisory fee. For example, we may combine account values for you, your spouse, your trusts, your
 other family members and/or retirement/business accounts.

Unless otherwise arranged, we bill in arrears based upon the value of the assets in your account(s) on the last day
of the month or calendar quarter, as our agreement specifies.

If we execute our agreement at any time other than the first day of the calendar month depending upon the terms
of our agreement, we will pro rate our fees. This means we will bill you for the partial month of service; our
advisory fee is payable in proportion to the number of days in the month for which you are a client.

In lieu of or in addition to the fees stated above, if you have a net worth greater than $2,000,000 or if we manage
at least $1,000,000 of your assets, we may agree on a negotiable performance-based fee ("PBF"). The PBF only
applies to certain strategies and ranges from 10% and 50% of the appreciation of your account value each month
or in some cases, each year. The PBF is subject to a high-water mark. A high-water mark means you will only
pay a PBF to the extent the account value, when adjusted for contributions and withdrawals, exceeds the highest
account value reached over the entire measured value history of the account. Each monthly measurement date,
each annual measurement date, or termination date results in the opportunity for us to bill the PBF, subject to the
high-water mark. Since we need to know if the account exceeded the high-water mark, we bill PBF in arrears.

PBFs may cause a potential for conflict of interest. A PBF may create an incentive for us to make investments
that are riskier or more speculative than would otherwise be the case absent a PBF. In certain cases, we may
charge a lower (or no) base management fee in conjunction with a higher PBF.

Fee Payment Options for Accounts
There are two options for you may to pay for our services:

1.       Direct Debiting (preferred) - at the inception of our relationship and typically, each month thereafter,
we will notify your custodian of the amount of the fee due and payable to us as provided by the IMA. The IMA
you execute with us provides a pre-approval to "deduct" our fees from your account. If you have more than one
account, you can designate the specific account(s) to pay our advisory fees. Unless you specifically retain them
to do so, your custodian does not validate nor confirm the fee calculation, including the asset values that serve
as the basis for the fee calculation. We provide you with a copy of the invoice submitted to the custodian.

Most custodians will make available to you a monthly activity statement. This statement presents all of your
account(s) transactions, positions, and credits/debits into or from your account; including advisory fees paid to us
and if applicable MM(s).

2.       Pay-by-check (preferred for tax-deferred accounts) – at the inception of our relationship and each month
thereafter, or in some cases in each quarter, thereafter, we will issue an invoice for our services. This invoice is
due upon receipt. You may pay by check or electronic funds/wire transfer, as negotiated and documented in
your IMA.

Fees Due Upon Termination
Either party may terminate the IMA for any reason upon 30- days' written notice to the other. You will incur a
pro rata charge for services rendered until the termination date of the IMA. This means you will incur advisory
fees only in proportion to the number of days in the billing period during which you remain a client. Any prorated
balance will be refunded to you. Upon notification of termination and under your direction, we will assist you
with the method of closing any open positions to minimize risk levels and to preserve capital. Unless you notify
us otherwise in writing, we will cease to open new positions for the account as of notification to terminate date.
...

Item 7 Types of Clients

We provide our services to a number of Clients:

•  Institutions
•  Individuals, including High Net Worth Individuals
•  Corporations or other business entities
•  Endowments, Foundations, and Trusts
•  Private Pensions and Profit-Sharing Plans (ERISA)
•  Sub-advisory Relationships to other Registered Investment Advisors
•  Registered Mutual Fund
•  Pooled Investment Vehicles such as hedge funds
In general, we do not require a minimum dollar amount to open and maintain an advisory account.
However, we reserve the right to terminate your account if it falls below a minimum size, which, in our sole
opinion, is too small to manage effectively.

Certain custodians or brokerages may impose minimums, which we do not control.

Some of our strategies require the use of and access to Portfolio or Risk Based Margin - described below. To
qualify for this specific type of margin, custodians may impose a minimum account, which we do not control.

VegaEx, LP requires investors invest a minimum of $100,000, which the General Partners may waive. We do not
control this decision.
Alpha Architect 1-3 Month Box ETF, Alpha Architect Tail Risk ETF, Alpha Architect Aggregate Bond ETF, and
Arin Tactical Tail Risk ETF may be purchased and/or sold through many brokerage platforms. These platforms
may charge fees for trade executions. We do not control any of these fees or decisions.