Colliers Securities LLC

ITEM 5: FEES AND COMPENSATION

For all investment advisory programs, you pay an annual Advisory Fee, which is expressed as a percentage
that is billed against the total balance of your advisory account on a quarterly basis. CS, in its sole discretion,
may elect to exclude certain assets from being included in the total balance of your advisory account
(hereinafter, “excluded assets”). CS and your financial advisor price their services based on the total
compensation they expect to receive from the account. You should make sure that you fully understand the
services provided by CS and your financial advisor and all fees and compensation associated with your
advisory account.

The Advisory Fee is automatically deducted from your account (or another account you have designated), and
it is identified on your account statement which is issued by your Custodian. The Advisory Fee charged in the
Colliers Director Program and Envestnet Program is charged only one quarter in advance. The Advisory Fee
for Dana Direct is charged quarterly in advance.

                                     Advisory Fees – Non-Wrap Programs

Colliers Director

In the Colliers Director Program, the client pays an annual Advisory Fee, which is charged quarterly in
advance and is based on a percentage of assets under management as of the end of the previous calendar
quarter. The Advisory Fee is negotiable subject to the maximum annual fee of 2.5%. CS and your financial
advisor price their services based on the total compensation they expect to receive from the account. Clients
should make sure that they fully understand the services provided by CS and the financial advisor and all fees
and compensation associated with the client’s account(s). The annual Advisory Fee as agreed upon between
you and your financial advisor is documented in the Colliers Director Agreement and account statements
issued by Custodian.

For newly established accounts, the Advisory Fee for the partial calendar quarter will be based on the
inception date, the time remaining in the quarter and the inception value. The inception date is the first date
the completed contract and any other required documents are received by CS and funds are on deposit in the
account. Inception value is the value of assets in the account based on the closing prices the day before the
inception date.

For each succeeding calendar quarter, the Advisory Fee shall be payable to CS within 30 days after the last
business day of the prior quarter based on the value of account assets on the last business day of the previous
quarter. As discussed above, the Advisory Fee is automatically deducted from your account (or another
account you have designated).

The annual Advisory Fee will not be adjusted for appreciation or depreciation of account assets during any
calendar quarter. The range for an annual Advisory Fee in the Colliers Director Program is based on assets
under management in your account:

Asset Value               Total Advisory Fee
First $250,000            Up to 2.5%
Next $250,000             Up to 2.0%
Over $500,000             Up to 1.5%

The minimum account size in the Colliers Director Program is $25,000 which may be waived at the sole
discretion of CS. The minimum annual Advisory Fee is $250.

The annual Advisory Fee you pay in the Colliers Director Program includes investment advice and reporting
services. The annual Advisory Fee in this program does not include certain costs to execute trades in your

Account, i.e., Ticket Charge Fees (“Ticket Charges”) and custodial fees that Custodian may charges in certain
types of accounts (e.g., IRAs; retirement plans). Custodian has the sole discretion to waive any of its fees. In
determining which advisory program to recommend to you, your financial advisor takes into account the fees
and services that are included in or are in addition to the annual Advisory Fee. CS financial advisors take this
into account when determining which advisory program to recommend to you.

Ticket Charge Fees for each transaction are as follows:

     •   $0 for Eligible Mutual Fund Trades in the NTF Program
     •   $11 – $21 for Non-Eligible Mutual Fund Trades
     •   $9 for Equity Trades
     •   $19 for International Equity Trades
     •   $15 for Fixed Income Trades
     •   $25 for Fixed Income New Issues
     •   $14 for Option Trades, plus up to $1.25/Contract

Ticket Charge Fees are subject to change and are billed on a monthly basis in arrears.

Ticket Charges Fees and custodial fees are assessed by Custodian and are marked up by CS. These fees are
separate from any Program Fee, Platform Fee, Advisory Fee or mutual fund fee or service-related fee outlined
in other sections of this Disclosure Brochure.

Termination of the Colliers Director Advisory Agreement

The Colliers Director Program Advisory Agreement may be terminated by the client or CS at any time, for
any reason, upon receipt of 30 days prior written notice. Clients who wish to terminate this agreement should
provide written notice to their financial advisor of record. Clients will only be charged the annual Advisory
Fee for the number of days during the quarter the advisory services were provided prior to the termination
date. Clients are not charged a liquidation fee if securities are to be delivered in-kind, otherwise certain
commissions and/or fees may be charged by the broker‐dealer liquidating security positions.

                                      Advisory Fees – Wrap Programs

Dana Direct

In the Dana Direct Program, the client pays to CS an annual Advisory Fee, which is charged quarterly in
advance and is based on a percentage of assets under management as of the end of the previous calendar
quarter. The Advisory Fee is negotiable subject to the maximum annual fee of 2.5%. CS and your financial
advisor price their services based on the total compensation they expect to receive from the account. Clients
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ITEM 7: TYPES OF CLIENTS

CS provides portfolio management services to individuals, high net worth individuals, trusts, estates, pension
and profit sharing plans, charitable organizations and corporations, and business entities. It will also furnish
advice to clients on matters not involving securities. Account minimums vary based upon the program
selected and the requirements of any sub-advisors within that particular program.