Carlson & Company Financial Services LLC

Item 5 – Fees and Compensation

It is Carlson Financial’s goal to provide comprehensive financial planning and analysis to its clients which will then yield an
appropriate portfolio investment recommendation. The Firm would then provide ongoing investment management, portfolio
monitoring and financial plan management services. Clients are typically required to have a minimum household balance of
$250,000 per account to have assets managed by Carlson Financial. Household minimums may be waived at the Firm’s
discretion.

ASSET-BASED FEES

All clients will pay an asset-based Annual Advisory Fee which will be charged and collected monthly, in arrears, based upon
the average daily balance in the client’s account during the billing period. Many factors determine proposed fees rates,
including size, complexity, and composition of the services to be provided. While fees are negotiable based upon these factors,
Carlson Financial’s investment advisory fee structure is based on assets under management. The Advisory Fees paid by a client
will not exceed 3.00% per annum. The Advisory Fee to be paid by a client will be reflected in the Investment Advisory
Agreement signed by the client and a representative of Carlson Financial.

FLAT, ANNUAL FEES

In certain circumstances, the Firm may assess a flat, annual fee for advisory services that will not exceed $250,000 for ultra,
high-net-worth clients if requested. The negotiation of a flat, annual fee will be based on the size, scope and services requested
by the client. Upon execution of the client agreement, the initial prorated fee for the remainder of the calendar quarter will
be assessed and collected. One quarter of the annual fee will then be assessed and collected at the end of each calendar
quarter for the upcoming quarter.

THIRD-PARTY MONEY MANAGERS

In the event, Carlson Financial determines it would be in the client’s best interest to utilize the services of a third-party Model
Manager available through the AEWM Platform, clients will be notified in advance of the change in strategy and will receive
the Disclosure Documents for the Model Manager. It should be noted that the investment management fees charged by a
Model Manager are separate and in addition to the Annual Advisory Fee charged by Carlson Financial.

FEE TERMS

The following terms apply to client accounts with asset-based fees as well as flat, annual fees:

All advisory fees and household minimums are subject to negotiation. Carlson Financial may offer discounted rates to
its employees and their families as well as to institutional and ultra, high-net-worth clients with substantial account balances.

Advisory fees are not inclusive of brokerage commissions, transactions fees and other related costs and expenses which shall
typically be incurred in a client’s account(s). Mutual funds, exchanged-traded funds, and annuities all charge internal
management fees and other expenses, which are disclosed in a fund’s or annuity’s prospectus or equivalent disclosure
document and are directly deducted from the value of such investment vehicles. Carlson Financial does not retain 12b-1 fees
or other sales charges and commissions on the accounts of advisory clients.

The specific way advisory fees are charged and how much is charged by the firm is established in a client’s written agreement
with Carlson Financial. Annual Advisory Fees are typically debited by the custodian from a client’s custodial account and
remitted by the custodian to us.

Upon termination of any account, any prepaid, unearned fees will be refunded, and any earned, unpaid fees will be due and
payable. If a client terminates their Agreement within five (5) business days of its signing, the client shall receive a full refund
of all fees and expenses. If this Agreement is terminated after five (5) business days of its signing, upon the client’s request,
any prepaid fees will be prorated, and the unused portion be returned to the client.

The client will provide written authorization permitting the fees to be paid directly from client accounts held by the qualified
custodian. Further, the qualified custodian agrees to deliver an account statement at least quarterly directly to the client,
indicating all the amounts deducted from the account, including all advisory fees. Clients are encouraged to review their
account statements for accuracy.

Item 7 – Types of Clients

As described in Item 4, Carlson Financial provides investment advisory services to individuals, trusts, small businesses, family
offices, endowments, and other institutional clients through separately managed accounts. Clients are typically required to
have a minimum household balance of $250,000 to have assets managed by Carlson Financial. All advisory fees and
household minimums are subject to negotiation.