Canterbury Consulting Incorporated

Item 5. Fees and Compensation

   Service Platform                       Brief Description                                      Fee
Advisory Services        We assist clients in building a custom investment      Our standard fee schedule
                          portfolio on a non-discretionary basis by providing     consists of an asset-based fee that
                          recommendations on asset allocations and                ranges from 20 basis points to 5
                          manager selection.                                      basis points on the value of the
                         We also provide assistance in the implementation        investments and is subject to a
                          of investment decisions by coordinating                 minimum fee.
                          communication between the client and their
                          managers and custodians.

Outsourced CIO           Clients delegate to us the responsibility of           Our standard fee schedule
services                  manager selection and allocation of asset classes       consists of an asset-based fee that
                          within permissible ranges.                              ranges from 35 basis points to 5
                         We also implement investment decisions by               basis points on the value of the
                          providing directives to managers and custodians         investments and is subject to a
                          on behalf of our OCIO clients.                          minimum fee.
                         Depending on a client’s specific preference, they
                          may delegate one or both the components of
                          investment decision making and implementation.

Wealth Management        We assist clients in building a custom investment      Our standard fee schedule
Services                  portfolio on a non-discretionary basis by providing     consists of an asset-based fee that
                          recommendations on asset allocations and                ranges from 50 basis points to 10
                          manager selection, taking into consideration their      basis points on the value of the
                          tax circumstances.                                      investments and is subject to a
                         We also provide assistance in the implementation        minimum fee.
                          of investment decisions by providing back office
                          and operational services to assist with
                          communication and capital transfers between the
                          client and their managers and custodians

     Form ADV Part 2A for Canterbury Consulting Incorporated                                           Page 9 of 20

Canterbury Managed        For clients with a small asset base, we provide a        Our standard fee schedule
Program                    portfolio management program that applies a               consists of an asset-based fee that
                           streamlined process for portfolio construction and        ranges from 100 basis points to
                           implementation.                                           40 basis points on the value of the
                          The portfolio management is implemented on a              investments and is subject to a
                           discretionary basis, applying the custodial and           minimum fee.
                           reporting tools designated by Canterbury.
Family Office Services     We provide the essential services of developing         Our standard fee schedule
                            investment strategy, portfolio construction and          consists of an asset-based fee that
                            implementation assistance                                ranges from 50 basis points to 10
                           Depending on the client’s specific needs, we build       basis points on the value of the
                            custom investment portfolios, taking into                investments and is subject to a
                            consideration their tax circumstances, inter-            minimum fee.
                            generational capital transfers and organizational
                            infrastructure.

      We charge fees in accordance with the fee schedule(s) in effect at that time; however, fees and minimums are
      subject to negotiation. Our current fee schedules are listed above. Existing clients are subject to the minimum
      account requirements and advisory fees in effect at the time the client entered into the advisory relationship.
      Our fees vary based on the service platform as well as the scale and complexity of the mandate. Canterbury
      groups certain asset pools related to the same client for the purpose of determining the annualized fee.
      Certain clients engage in a flat fee arrangement that includes an escalator.

      Each client’s fee is set forth in the client’s advisory agreement. Fees are generally charged quarterly, in
      arrears. Clients may select fees to be billed directly or deducted from their accounts. Canterbury also offers the
      option of performance-based fees to certain clients. When calculating either an asset-based fee or a
      performance-based fee, we rely on a valuation provided by a third party (typically the client’s custodian bank)
      since Canterbury does not determine asset values.

      Our investment philosophy is consistent across discretionary and non-discretionary mandates. We generally
      customize our services based on each client’s individual needs. We gear our advice on portfolio complexity
      and asset mix taking into consideration the investment objectives, the size of the assets, the governance
...

Item 7. Types of Clients

Canterbury was founded on December 8, 1988 and is an SEC registered investment adviser firm that provides
investment related consulting services to endowments, foundations, pension and profit-sharing plans,
individuals, and family offices, (collectively referred to as “Clients”).

The types of clients we seek to serve include:

    —   Colleges and Universities                                 —   Private Foundations
    —   Independent Schools                                       —   Religious Institutions
    —   Hospitals/Healthcare Organizations                        —   Arts and Cultural Institutions
    —   Community Foundations                                     —   Private Clients/Family Offices

Form ADV Part 2A for Canterbury Consulting Incorporated                                             Page 11 of 20

    — Corporations

Canterbury’s private funds are available only to investors who are accredited investors. Some funds may also
require investors to be qualified purchasers. Please refer to the private fund operating documents for fund
detail.
Requirement for Opening Accounts (Minimum Investment Amount)

Canterbury has minimum annual fee requirements. Those minimums are dependent on the client type and
service platform and are outlined in Item 5 – Fees and Compensation section above.

Minimum investments for the private funds are fully described in each fund’s Private Placement Memorandum.