Bluevine Advisory LLC

Item 5: Fees and Compensation

Bluevine Advisory charges Clients an annual fee based upon a percentage of the assets being
managed by the Firm (the “Management Fee”). The Management Fee is fifty (50) basis points
(0.50%). The Management Fee is prorated and charged monthly, in arrears, based on the average
daily balance of the Client Account. The Firm’s agreements and the Client’s separate agreement
with the Custodian generally authorizes the Firm to debit the Client Account for the amount of the
Management Fee and to directly remit the Management Fee to the Firm. In the event of
termination, the Management Fee for the current billing period is prorated and charged to the
Client Account. Bluevine Advisory, in its sole discretion, may negotiate to charge a lesser
Management Fee or exclude certain assets or asset classes from the Management Fee based
upon certain criteria (e.g., anticipated future additional assets, dollar amount of assets to be
managed, related accounts, account composition, pre-existing relationship, account retention, pro
bono activities, etc.).

Clients will incur brokerage and other transaction costs in addition to the fees they pay to Bluevine
Advisory. Bluevine Advisory does not charge these to Clients and does not benefit directly or
indirectly from any such charges. These types of charges include, but are not limited to, wire
transfer fees, paper statement fees, and bounced check fees. The issuer of some of the securities
purchased for Clients, such as ETFs, may charge product fees and expenses that affect Clients.
An ETF typically includes embedded expenses that may reduce the fund’s net asset value, and
therefore directly affect the fund’s performance and indirectly affect a Client’s portfolio
performance or an index benchmark comparison. For additional information about the Firm’s
recommendation of broker-dealers for Client Accounts, see Item 12 of this Brochure. To be eligible
for the Firm’s advisory services, Clients must maintain a business checking account supported by
the Firm’s parent company, Bluevine Inc. Clients may pay fees to Bluevine Inc. in connection with
such an account and any other products and services provided by Bluevine Inc. Such fees payable
to Bluevine Inc. are in addition to those charged by the Firm for its advisory services. For additional
information regarding Bluevine Inc., please see Item 10, below.

Clients may deposit and withdraw from their account at any time provided that their business
checking account is in good standing and subject to Bluevine Advisory’s right to terminate a
Client’s account. Deposits to an account must be done via bank transfer to the Client Account.
Clients may withdraw account assets at any time, subject to the usual and customary securities
settlement procedures. However, the withdrawal of assets may impair the achievement of a
Client’s investment objectives. Clients are advised that when cash is withdrawn, they may be
subject to transaction fees, and/or tax ramifications. In the event of a withdrawal by the Client,
Bluevine Advisory may retain sufficient assets in the account to cover the anticipated
Management Fee for the current billing period.

Neither the Firm nor any of its supervised persons accept compensation for the sale of securities
or other investment products.

Item 7: Types of Clients
The Firm generally provides investment advice to corporations, including limited liability
companies, as well as partnerships, and other business entities. To be eligible for the Firm’s
services, Clients must maintain a business checking account supported by its parent company,
Bluevine Inc. In the future, Bluevine Inc. may impose additional requirements for account holders
to receive (and continue to receive) the Firm’s services. Such requirements shall be set forth in
applicable agreements with Bluevine, Inc. For additional information regarding Bluevine Inc.,
please see Item 10, below.