Centerstone Investors LLC

ITEM 5 - FEES AND COMPENSATION

Centerstone charges asset-based “management fees” to its clients.

Mutual Fund Management Fees

At present, the Mutual Funds pay a management fee of 0.90% of each respective Mutual Fund’s
average daily net assets. Management fees are deducted from the Mutual Funds assets and are paid
monthly in arrears.

In addition to management fees, the Mutual Funds are responsible for certain other expenses
including, but not limited to administration, custodian, registration, legal, compliance, transfer
agency, brokerage and other transactions costs. For more information with respect to brokerage
commissions, see Item 12 – Brokerage Practices, below.

Additional information on the fees and expenses charged to the Mutual Funds is contained in the
prospectus, which is available on Centerstone’s website (www.centerstoneinv.com), on EDGAR
on the SEC’s website (www.sec.gov) or by calling 1-877-314-9006.

Separately Managed Account (“SMA”) Management Fees

With respect to its management of an SMA, Centerstone receives a management fee applicable
to each SMA as set forth in detail in the investment management agreement (“IMA”) associated
with each individual account. The management fees charged to each account are negotiable and
will typically vary based on a number of factors, including, but not limited to, the size,
composition and complexity of the SMA, length and nature of Centerstone’s relationship with the
client, special services agreed upon with the client or other factors deemed relevant by
Centerstone. The details of how management fees are calculated for each SMA are included in the
IMA for each such client. SMA clients will generally be responsible for certain other fees such as
custodial, consultant, brokerage and other transactions costs. For more information with respect to
brokerage commissions, see Item 12 – Brokerage Practices, below.

Where Centerstone acts as sub-adviser to an SMA client, the client’s fees will be dictated by the
client’s agreement with its primary adviser. Centerstone will receive a portion of the primary
adviser’s fee in exchange for providing sub-advisory services to the particular client.

ITEM 7 - TYPES OF CLIENTS

Description

Centerstone offers discretionary investment advisory services to registered investment companies
and institutional investors through SMAs.

Account Minimums

Generally, the minimum asset level for an SMA is $50 million, however, asset minimums may be
lowered or waived in the sole discretion of Centerstone.