Asterozoa Management LLC

Item 5:         Fees and Compensation

Private Fund Fees
Asterozoa receives a management fee monthly in advance based on the Investor’s beginning capital account
balance as described in the offering document of the Funds. Additionally, the Funds are responsible for
direct expenses incurred in connection with or otherwise related to its operations and activities which may
include investment-related expenses (e.g., brokerage commissions, clearing and settlement charges,
custodial fees, interest expenses, expenses relating to consultants, brokers or other professionals or
advisors who provide research, advice or due diligence services with regard to investments, appraisal fees
and expenses); research costs and expenses (including fees for news, quotation and similar information
and pricing services); legal expenses (including, without limitation, the costs of on-going legal advice and
services, blue sky filings and all costs and expenses related to or incurred in connection with the
compliance obligations under applicable federal and/or state securities and investment adviser laws arising
out of its relationship to the Fund, as well as extraordinary legal expenses, such as those related to litigation

or regulatory investigations or proceedings); the Management Fee; accounting fees and audit expenses;
administrative fees; tax preparation expenses and any applicable tax liabilities (including transfer taxes
and withholding taxes); other governmental charges or fees payable by the Fund; costs of printing and
mailing reports and notices; and other similar expenses related to the Fund.. Item 12 of this Brochure
discusses how the Adviser selects brokers, and how the Adviser determines the reasonableness of their
compensation.

The direct expenses incurred by the Funds vary depending on the nature of the operations and activities
of the Funds and the Funds’ respective Offering Documents describe them in detail.

ETF Fees
With respect to the ETF, Asterozoa will receive an annual sub-advisory fee of 0.60% of Average Fund
Net Assets as documented in an investment sub-advisory agreement between Simplify, Asterozoa, and
the Simplify Exchange Traded Funds Trust (the “Trust”). Such agreement has been approved by the
Board of Trustees of the Trust. Investors are encouraged to review the ETF’s prospectus to understand
its fees and expenses, which includes expenses for custody, administration, and other non-advisory
services.

Management Consulting and Subscription Services Fees

Fees charged for management consulting and subscription services are negotiated individually with each
investment adviser using the service. Fees typically consist of a boarding fee followed by a monthly fee
for ongoing services. Services are terminatable by either party with 90-day notice.

Item 7:        Types of Clients

 The Adviser provides investment advisory services to the Funds and sub-advisory services to the ETF
 based on the particular investment objectives and strategies described in the applicable Funds’ Offering
 Documents and the ETF’s prospectus. Investors in the Funds generally are required to complete and
 submit a subscription agreement binding them to the terms of a Funds’ Offering Documents.
 The ETF is a U.S. investment company registered under the 1940 Act.
 The Adviser currently provides the Management consulting and data subscription services agreements to
 Registered Investment Advisers. The services may be provided to other types of clients in the future.