Ascension Investment Management LLC

Item 5 – Fees and Compensation
The specific manner in which fees are assessed will be established in the Investment Advisory Agreement
with each client.

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Fee Schedule
Asset-Based Fees
AIM typically negotiates an asset-based management fee for its services. The minimum annual fee for
fully discretionary accounts with an OCIO mandate is $50,000. The maximum fee charged to new clients
may be 1% of assets under management (or $50,000, whichever is greater), although fees are negotiable,
depending on account size, sophistication of the investment strategies and the amount of AIM’s professional
time involved. This asset-based fee is in addition to the fees and expenses incurred by clients as described
below. AIM’s fees and minimums may be waived, in whole or in part, in certain circumstances.
Fixed Fees
AIM may negotiate a fixed fee for its services. There is no minimum fixed fee. The fixed fee is in addition
to fees and expenses incurred by clients as described below.
Reimbursement of Fees and Expenses
In addition to AIM’s advisory fees, advisory clients may incur other fees and expenses, including but not
limited to investment, trading, legal, auditing, operational, custodial, and administrative expenses. Under
the terms of the client’s Investment Advisory Agreement with AIM, AIM typically will be entitled to
reimbursement of any such fees and expenses incurred by AIM on behalf of the client.
Advisory Fees for Fund Members
AIM’s standard advisory fee schedule for the Fund is as follows:
   Strategy                                                                                       Fee
   Long-Only Equities, Inflation Protection Financial Instruments, Core Fixed Income,             0.10%
   Hedged Equity
   Opportunistic Credit, Liquid Real Assets, Impact Fixed Income                                  0.15%
   Absolute Return Hedge Funds                                                                    0.25%
   Private Equity, Private Credit, Private Real Assets, Impact Investment                         0.35%
   Cash Plus, Cash Equivalents                                                                    0.06%

With respect to the Fund, Adviser typically negotiates an advisory fee with each member of the Fund.
Different Fund members will pay higher or lower fee rates than other Fund members due to grandfathered
fee schedules, our discretion to negotiate fee schedules, discounts granted to larger, more profitable, and
"friends and family" accounts, and the economic incentives we have to attract and retain accounts. Adviser
also is entitled to be reimbursed by the Fund for certain expenses incurred on behalf of the Fund, including,
without limitation, accounting, audit, legal, operational, administrative, custody expenses, administrative
fees and blue sky filing fees. AIM’s fees may be waived, in whole or in part, in certain circumstances.

Fee Billing
Clients may authorize AIM to directly debit fees from their accounts, or clients may elect to be billed and
pay AIM directly. Asset-based fees charged by AIM typically will be charged quarterly in advance.

Other Fees
In addition to management and performance fees, clients typically incur brokerage commissions,
transaction fees, and other investment-related costs and expenses that are charged separately by broker-
dealers and custodians. Clients may also incur certain other charges imposed by custodians, brokers, third
party investment managers and other third parties, including managerial fees, custodial fees, deferred sales
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charges, odd-lot differentials, transfer taxes, wire transfer and electronic fund fees, and other fees and taxes
on brokerage accounts and securities transactions. Managers of separate accounts, mutual funds and
private investment funds in which clients’ assets may be invested charge their own management and
performance fees and operating expenses. Travel costs for AIM personnel to attend meetings of an
institutional client’s board or its finance or investment committees at the request of the board or committee
may be charged to the client.

Termination of Management Agreements
Under a client’s Investment Advisory Agreement with AIM, either party may terminate the Agreement
upon typically at least 90 days’ advance written notice, except that alternative investments, private
investment funds, and other illiquid investments in which the client has invested may require a longer
termination period. Clients will continue to pay all fees and expenses related to alternative investments,
private investment funds, and other illiquid investments, including management fees to AIM, during the
termination process until the assets are returned to the client. If the Investment Advisory Agreement is
terminated, expenses and any management fees will be pro-rated. Any unearned fees paid in advance will
be promptly refunded and any unpaid fees will be due and payable.

Item 7 – Types of Clients
AIM provides portfolio management services exclusively to institutions, primarily charitable organizations,
pension and profit-sharing plans, foundations, endowments, corporations, and other institutional accounts,

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either directly or through its management of a private commingled investment pool in which these
institutions invest.
AIM has established a minimum account size of $1 million, although it may waive this minimum in its
discretion. AIM recommends that clients have a minimum account size of $5 million, particularly for an
OCIO mandate. Many alternative investment managers and private investment funds recommended by AIM
establish minimum investment amounts, typically $5 million to $25 million.