Cordoba Advisory Partners LLC

Item 5 – Fees and Compensation

The following paragraphs detail the fee structure and compensation methodology for services provided by the
Advisor. Each Client engaging the Advisor for services described herein shall be required to enter into one more
written agreements with the Advisor.

A. Fees for Advisory Services
Investment Management Services
Investment advisory fees are paid quarterly, at the end of each calendar quarter pursuant to the terms of the
investment advisory agreement. Investment advisory fees are based on the average of the ending market value of
assets under management at the end of each of the three months during the quarterly billing period. Investment
advisory fees range from 0.50% to 1.50% annually based on several factors, including: the scope and complexity of
the services to be provided; the level of assets to be managed; and the overall relationship with the Advisor.
Relationships with multiple objectives, specific reporting requirements, portfolio restrictions and other complexities
may be charged a higher fee.

The investment advisory fee in the first quarter of service is prorated from the inception date of the account(s) to
the end of the first quarter. Fees may be negotiable at the sole discretion of the Advisor. The Client’s fees will take
into consideration the aggregate assets under management with the Advisor. All securities held in accounts
managed by CAP will be independently valued by the Custodian. The Advisor will conduct periodic reviews of the
Custodian’s valuations.

The Advisor’s fee is exclusive of, and in addition to any applicable securities transaction and custody fees, and
other related costs and expenses described in Item 5.C below, which may be incurred by the Client. However, the
Advisor shall not receive any portion of these commissions, fees, and costs.

For advisory services rendered to private funds, CAP can earn asset-based management fees and/or performance-
based compensation as set forth in the offering documents for such private funds.

Use of Independent Managers
For Client assets allocated to an Independent Manager, the Independent Manager’s fee will vary based on the
manager and investment mandate selected. The Advisor’s fee, as noted above, is separate and in addition to the
Independent Manager’s fee.

Financial Planning Services
CAP offers financial planning services either on an hourly basis or a fixed engagement fee. Hourly fees range from
$500 to $1,500 per hour. Fixed engagement fees are negotiated based on the expected number of hours to
complete the engagement at the Advisor’s hourly rate. Fees may be negotiable based on the nature and complexity
of the services to be provided and the overall relationship with the Advisor. An estimate for total hours and/or total
costs will be provided to the Client prior to engaging for these services.

Data Aggregation and Reporting Services
Reporting fees are paid quarterly, at the end of each calendar quarter. Reporting fees are based on the average of
the ending market value of reporting assets at the end of each of the three months during the quarterly billing
period. Reporting fees range from 0.12% to 0.50% annually based on several factors, including: the scope and
complexity of the services to be provided; the level of assets to be reported; and the overall relationship with the
Advisor.

The reporting fee in the first quarter of service is prorated from the inception date of the account(s) to the end of the
first quarter. Fees may be negotiable at the sole discretion of the Advisor. The Advisor’s fee is exclusive of, and in
addition to any applicable securities transaction and custody fees, and other related costs and expenses described

                                               Cordoba Advisory Partners LLC
                                               488 Madison Avenue, 24th Floor
                              New York, NY 10022 | Phone: (917) 746-4806 https://cordobapartners.co

in Item 5.C below, which may be incurred by the Client. However, the Advisor shall not receive any portion of these
commissions, fees, and costs.

B. Fee Billing
Investment Management Services
Investment advisory fees are calculated by the Advisor or its delegate and deducted from the Client’s account(s) at
the Custodian. The Advisor shall send an invoice to the Custodian indicating the amount of the fees to be deducted
from the Client’s account(s) following the end of each calendar quarter. The amount due is calculated by applying
the quarterly rate (annual rate divided by 4) to the average of the ending market value of assets under management
at the end of each month during the quarterly billing period. The three (3) month-end values are averaged to
determine the assets under management for the billing calculation. Clients will be provided with a statement, at
least quarterly, from the Custodian reflecting deduction of the investment advisory fee. Clients are urged to also
review the statement provided by the Advisor to the brokerage statement from the Custodian, as the Custodian
does not perform a verification of fees. Clients provide written authorization permitting advisory fees to be deducted
by CAP to be paid directly from their account(s) held by the Custodian as part of the investment advisory
agreement and separate account forms provided by the Custodian. At Clients’ discretion, investment advisory fees
may be paid directly by the Client to the Advisor in lieu of automatic deduction at the end of each quarter.

Use of Independent Managers
For Clients allocated to an Independent Manager, the Independent Manager’s fee is separately billed and deducted
from the Client’s account(s) with the respective manager.

Financial Planning Services
The timing and frequency of payments for financial planning fixed fee and hourly fee arrangements are as agreed
upon with the Clients.

Data Aggregation and Reporting Services
...

Item 7 – Types of Clients

CAP offers investment advisory services to high net worth individuals, families, trusts, estates, businesses, and
private funds. CAP imposes a minimum relationship size of $1,000,000 in assets under management.