Blue Sky Asset Management LLC

Item 5. Fees and Compensation

Investment Management Fee
Managed Model

BSAM actively manages the GenFolio models for a fee based upon a percentage of the market value of
the assets being managed (“Management Fee”). BSAM’s Management Fee is exclusive of, and in addition
to brokerage commissions, transaction fees, and other related costs and expenses, which are incurred by
the Advisory Clients through the SMArtX platform. BSAM does not, however, receive any portion of these
commissions, fees, and costs. The Management Fee is charged monthly in arrears based on the average
daily balance of the account for the preceding month. SMArtX initiates, and collects all fees for advisory
clients invested in any of the GenFolio models on BSAM’s behalf. The Management Fee for the initial
month is calculated on a pro rata basis commencing on the day the Assets are initially designated to us
for management under this Agreement. No portion of the Management Fee shall be based on capital
gains or capital appreciation of the Assets except as provided herein and provided for under the
Investment Advisers Act of 1940, as amended (the “Advisers Act”) and analogous state securities laws.

BSAM Fees: Fees for the investment in any of the GenFolio models are between 0.10% - 0.70% depending
on the model chosen.

Fees Charged by Financial Institutions
Advisory Clients on the SmartX platform may incur certain charges imposed by the Financial Institutions
such as custodial fees, charges imposed directly by a mutual fund or ETF, which are disclosed in the fund’s
prospectus (e.g., fund management fees and other fund expenses), deferred sales charges, 12b-1 fees,
odd-lot differentials, transfer taxes, wire transfer and electronic fund fees, and other fees and taxes on

brokerage accounts and securities transactions. Such charges, fees and commissions are exclusive of and
in addition to BSAM’s fee.

Any fees charged by independent managers used by BSAM are exclusive of and in addition to BSAM’s fee.
BSAM does not share in these fees.

Item 7. Types of Clients

BSAM currently does not have any investment advisory clients.