ATFS Advisers LLC

Item 5: Fees and Compensation
The following paragraphs detail the fee structure and compensation methodology for
services provided by the Adviser. Each Client engaging the Firm for services described herein
shall be required to enter into a written investment advisory agreement with the Firm
containing the applicable fee for the services each Client seeks to obtain.

Fees for Advisory Services

Asset-Based Fees

Fees will be based on a percentage of the Client’s total managed assets and are paid in
advance on a monthly basis and based on the previous month’s ending account value (or
initial account balance prorated for the initial billing cycle in the case of new Clients) as
agreed upon by ATFS and the Client. Fees are negotiable and typically range between 0.50%-
1.5% per year, depending on the size and complexity of the Client account, among other
factors. Accounts initiated or terminated during a calendar month will be charged a prorated
fee based on the number of days that the account(s) was managed. ATFS typically imposes
a minimum account size of $250,000 before executing an investment management
agreement, however, this minimum may be waived on a case-by-case basis.

The market value of assets includes accrued interest and dividends, as well as margin
balances (if applicable). Most Clients authorize ATFS to deduct fees automatically from their
brokerage accounts, but Clients may request that the Firm send monthly invoices to be paid
by check or ACH. The custodian of the Client’s brokerage account is responsible for sending
statements at least quarterly indicating, among other things, management fees disbursed
from the account. ATFS may agree to aggregate the assets of multiple separate accounts of a
client and other affiliated clients for fee calculation purposes.

Fixed Fees

Clients can be charged an annual fixed fee for investment management services. Annual fixed
fees are negotiated based on the size and complexity of the relationship and charged based
on the frequency stated in the agreement with the client.

Private Fund Management Fees

The Fund is billed quarterly for management fees, not to exceed 1% annually. The fee is
calculated on a quarterly basis on the investor’s capital contributed. Investors should refer
to the Offering Documents for specifics on all fees charged to and/or expensed to the Fund.

Spreadwise Borrowing Fees

For Spreadwise Borrowing, an annual advisory fee of .60% will be calculated and billed
monthly in arrears based on the end-of-month market value of active synthetic loans. Fees

Form ADV Part 2A – Firm Brochure             11                              ATFS Advisers LLC

for Spreadwise Borrowing are identified in each Client’s investment management agreement
if they are enrolled in the program. Fees may be negotiable and/or waived at ATFS’
discretion.

Sub-Advisory Fees (when ATFS acts as Sub-Advisor)

Fees will be charged by ATFS on the total assets under management that the third-party
investment advisor brings to ATFS. ATFS is compensated directly by the third-party
investment advisor with a portion of their investment management fees collected by them
on their clients’ accounts. Third-party investment advisors who engage ATFS as a sub-
advisor shall be responsible for billing their clients and collecting all fees then remitting a
portion of those fees to ATFS per an executed agreement between ATFS and the third-party
investment advisor.

Custodial Fees and Other Fees

Fees paid to ATFS for investment advisory services provided via Atlas Private Client are
separate and distinct from the fees and expenses charged by underlying pooled investments
such as mutual funds and exchange traded funds. In the case of mutual funds, these fees and
expenses are described in each fund’s prospectus. These fees will generally include a
management fee, other fund expenses, and possible distribution fee. As a general rule, ATFS
does not use mutual funds that charge sales charges or distribution fees. Expenses of a fund,
including management fees payable to the mutual fund manager and other expenses, will not
appear as transaction fees on a client’s ATFS statement, as they are deducted from the value
of the fund shares by the mutual fund service provider.

Clients will incur certain charges imposed by financial institutions and other third parties
such as custodial fees, transfer taxes, wire transfer and electronic fund fees, and other fees
and taxes on brokerage accounts and securities transactions. Additionally, clients may incur
brokerage commissions and transaction fees. Such charges, fees and commissions are
exclusive of and in addition to the ATFS asset-based fee. For information relating to custodial
fees and expenses, please refer to the applicable custodial agreement or contact the
applicable custodian.

Clients may make additions to and withdrawals from their account[s] at any time, subject to
ATFS’ right to terminate an account. Additions may be in cash or securities provided that
ATFS reserves the right to liquidate any transferred securities or decline to accept particular
securities into a Client’s account[s]. Clients may withdraw account assets on notice to ATFS,
subject to the usual and customary securities settlement procedures. However, the
withdrawal of assets may impair the achievement of a Client’s investment objectives. ATFS
may consult with its Clients about the options and ramifications of transferring securities.
Clients are advised that when transferred securities are liquidated, they may be subject to
transaction fees, fees assessed at the mutual fund level (i.e. contingent deferred sales charge)
and/or tax ramifications.

Form ADV Part 2A – Firm Brochure              12                               ATFS Advisers LLC

Fee Billing

Investment advisory fees for Atlas Private Client are calculated by ATFS and deducted from
the Client’s account[s] at the applicable custodian. ATFS shall send an invoice to the
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Item 7: Types of Clients
ATFS primarily provides wealth management services to pooled investment vehicles and to
high-net-worth individuals, associated trusts, estates, pension and profit-sharing plans, and
other legal entities. The minimum Client size for Atlas Private Client is generally $250,000,
but this amount is negotiable at the Firm’s discretion.

Form ADV Part 2A – Firm Brochure             15                              ATFS Advisers LLC