Broadview Advisors LLC

Item 5 - Fees and Compensation

Separate Account Fees. Broadview’s standard annual fee schedule for separately managed
accounts is as follows:

       Strategy                                     Annual Fee

       Small Cap Strategy
         On the first $25 million                   1.00%
         On the next $25 million                    0.90%
         On amounts over $50 million                Negotiable

Broadview Advisors, LLC
Form ADV, Part 2A

       Strategy                                      Annual Fee

       All Cap Strategy
           On the first $25 million                  0.90%
           On the next $25 million                   0.80%
           On amounts over $50 million               Negotiable

Broadview’s fees for separately managed accounts are based on a percentage of assets under
management, are payable either monthly or quarterly in arrears, and are usually determined by
multiplying the fair market value, as reasonably determined by Broadview, of the client’s assets
under management at the end of the month or quarter by the applicable annual rate and dividing
the result by twelve if payable monthly, or four if payable quarterly. Broadview will generally
bill clients directly for advisory fees, but clients may authorize Broadview to deduct advisory
fees directly from the client’s custodial account. It is the client’s responsibility to review the
advisory fees included in the account statements provided by the custodian.

Advisory fees may be negotiated individually with a client. Factors considered in negotiating
advisory fees are:

•   The type of account;
•   The kind of securities in the account;
•   The dollar value of the securities in the account;
•   The projected nature of trading for the account;
•   The number and expertise of portfolio managers necessary to manage assets in the account;
    and
•   The nature and scope of individual advisory services required to properly administer the
    account.

Advisory fees exclude brokerage commissions, custodial costs, taxes, and other costs incidental
to the purchase and sale of securities. For more information on these types of fees, see Item 12,
“Brokerage Practices,” below. Moreover, clients whose assets are invested in shares of mutual
funds and other pooled investment vehicles (“acquired funds”) will pay both a direct
management fee to Broadview, as well as indirect management fees and other expenses incurred
by the acquired funds. Please refer to the acquired fund’s prospectus or other offering
documents for more information.

Investment Company Fees. The annual advisory fee for the Broadview Opportunity Fund is
1.00% of the fund’s average daily net assets. Advisory fees for the Broadview Opportunity Fund
are accrued daily and payable monthly. Broadview’s separately managed accounts do not invest
in the Broadview Opportunity Fund.

Private Fund Fees. For its investment advisory services to the Private Fund, Broadview receives
an annual fee equal to 1.00% of the Private Fund’s net asset value. In addition, Broadview may
receive a performance allocation which is equal to 20% of the increase in value, if any, of each
investor’s capital account in excess of a specified benchmark amount. Any such performance
allocation will be made in compliance with Rule 205-3 promulgated under the Investment

Broadview Advisors, LLC
Form ADV, Part 2A

Advisers Act of 1940, as amended (the “Advisers Act”). Broadview’s separately managed
accounts do not invest in the Private Fund.

Broadview determines the value of securities or other investments in an account based on the
market prices of the securities held in the account. If market quotations are not readily available,
Broadview will value the securities at their fair value in a manner determined in good faith by
Broadview. Any such valuation should not be considered a guarantee of any kind whatsoever
with respect to the value of assets in the account.

Advisory agreements will continue until terminated by either Broadview or the client, generally
on prior written notice of at least 60 days. In the event of termination, fees will be prorated on a
daily basis to the termination date and Broadview will receive payment of any earned but unpaid
fees as described above. Termination by the client will not affect transactions Broadview has
initiated on the client’s behalf prior to the effectiveness of the termination.

Other than the advisory fees and performance-based fees described above, neither Broadview nor
its supervised persons receive compensation for the sale of securities or other investment
products.

Item 7 - Types of Clients

Broadview provides investment advisory services primarily to investment companies and other
institutional clients, including pension and profit sharing plans, pooled investment vehicles,
corporations, foundations, endowments and other business entities. Advisory services may also
be provided to high net worth individuals.

Broadview’s separately managed accounts generally require a minimum initial investment of
$5 million, although this amount may vary depending on the type of account. This minimum
investment amount may be waived by Broadview, in its sole discretion.

The minimum initial investment for the Broadview Opportunity Fund is $1,000. Please refer to
the Broadview Opportunity Fund’s prospectus for more information regarding initial and
subsequent investments.

Broadview Advisors, LLC
Form ADV, Part 2A

The minimum initial investment for the Private Fund is $250,000, and $50,000 for subsequent
investments. The minimum initial and subsequent investment amounts may be waived by
Broadview, in its sole discretion.