B&T Capital Management Incorporated

Item 5: Fees and Compensation

A. Methods of Compensation and Fee Schedule

  A.1   Portfolio Management Program Fee Schedule
For investment management services, clients are charged in arrears quarterly based on a
percentage of assets under management with Alpha Capital Management. Generally, clients are
charged 1% per year on assets up to $1 million under discretionary management. Accounts
holding $1 million or more are assessed a fee lower than 1% at a negotiated level, based upon a
number of factors which include, but are not limited to, the type and size of the account, the
historical or projected nature of trading for the account and the number and range of other client-
related services provided to the client or household. The fee will be based on a percentage of the
net asset value of the account as reported by the custodian at the close of the previous quarter
and includes cash. Fees for non-discretionary accounts are negotiated based on the size of the
account, account holdings, and client needs.
Because Alpha Capital Management’s fee structure is negotiable, clients have different fee
schedules. Some have fee rates that decrease with an increase in assets. Some clients pay more
for discretionary accounts than clients for whom Alpha Capital Management manages assets on
a non-discretionary basis. Therefore, clients with the same amount of assets under management
with the firm are paying more or less than others. The firm does not discriminate on the level of
service it provides to clients based on the fees it receives.
Fees are calculated by multiplying the assets under management market value (as reported by the
account custodian) by the relevant percent and dividing such product by four (4). The fee
calculation is prorated for inflows and outflows of account assets if the value of inflow/outflow is
$1000 or greater in any one day based on the number of days the assets were in the account over
the actual number of days in that quarter. Fees are payable within thirty (30) days following the
end of the quarter for which said fees will be incurred. Fees for the initial quarter will be adjusted
pro-rata based upon the number of calendar days in the calendar quarter that the Agreement was
in effect. All accounts for members of a client’s family (husband, wife and dependent children) or
related businesses may be assessed on an aggregated or “household” basis. You may instruct us
to charge fees for one account to another bearing your name. We are not compensated on the
basis of a share of either capital gains or capital appreciation, or any portion of the portfolio.

Termination: Either party may terminate the Portfolio Management Agreement at any time and
for any reason, upon receipt of written notice to the other party. We will be unable to cancel
pending trades placed before receipt of such notice. Upon notice of termination, we will await
further instructions from you as to what steps you request to liquidate and/or transfer the portfolio
and remit the proceeds. Upon receiving instructions, we will instruct broker dealers, mutual fund
sponsors, and others to liquidate and/or transfer the portfolio and remit proceeds back to you or
a designated third party. A final fee will be charged, which will be prorated according to the
number of days for which we provided investment advisory services during the final quarter.

                                                                         Alpha Capital Management
                                                                         ADV Part 2A Firm Brochure
                                                                                        March 2026

B. Client Payment of Fees
Alpha Capital Management requires clients to authorize the direct debit of fees from their
accounts. Rare exceptions are granted for clients to be billed directly for our fees. Clients may
withdraw authorization for direct billing of our fees at any time by notifying us or their custodian
in writing.
Alpha Capital Management will deduct advisory fees directly from the client’s account provided
that (i) the client provides written authorization to the qualified custodian, and (ii) the qualified
custodian sends the client a statement, at least quarterly, indicating all amounts disbursed from
the account.

C. Additional Client Fees Charged
All fees paid for investment advisory services are separate and distinct from the fees and expenses
charged by exchange-traded funds, mutual funds, money market funds, private placements,
pooled investment vehicles, broker-dealers, and custodians retained by clients. Such fees and
expenses are described in each fund’s prospectus, each private placement or pooled investment
vehicle’s confidential offering memoranda, and by any broker-dealer or custodian retained by the
client. Custodial fees include transaction fees, margin interest, wire fees, etc. Clients are advised
to read these materials carefully before investing. A client using Alpha Capital Management is
likely to be precluded from using certain mutual funds or separate account managers because
they may not be offered by the client's custodian.
Please note that for client accounts the firm maintains, the custodian generally does not charge
clients separately for custody services but is compensated by charging commissions or other fees
on trades that it executes or that settle into the custodian’s accounts (“transaction-based fees”).
Please refer to the Brokerage Practices section (Item 12) for additional information regarding the
firm’s brokerage practices.

D. External Compensation for the Sale of Securities to Clients
Alpha Capital Management advisory professionals are compensated solely through a salary and
bonus structure. Alpha Capital Management is not paid any sales, service or administrative fees
for the sale of mutual funds or any other investment products with respect to managed advisory
assets.

Item 7: Types of Clients

Our clients are individuals, high net-worth individuals, trusts, estates and charitable
organizations.

                                                                          Alpha Capital Management
                                                                          ADV Part 2A Firm Brochure
                                                                                         March 2026

We have imposed a minimum account size of $1,00,000 in assets to be managed by our firm.
We will aggregate related accounts in the same household to meet account minimums.
Exception to fees, minimum account sizes and services are negotiable and may be waived under
certain circumstances such as potential for more assets, referrals, special relationships, etc. A
minimum $50 fee/quarter is required of each account or household except for employees or
employee family members.