Empowered Funds LLC

ITEM 5 – FEES & COMPENSATION

Sub-advisory Fees

Sub-advisory Clients do not pay ETF Architect any fees or compensation directly. For its services,
ETF Architect will receive an annual sub-advisory fee that is negotiated between ETF Architect
and each Advisor. Fees for this service are typically received monthly in arrears. ETF Architect’s
fees for advising ETFs are set out in the relevant ETF’s offering documents.

The specific manner in which Advisors’ own management fees are charged, and deducted, is
established in a written agreement between the Sub-advisory Clients and the Advisors. Please
refer to each Advisor’s Form ADV for a discussion of their fees and compensation.

Consulting Service Fees

CONSULTING SERVICES – ETF WHITE LABEL

Upon the approval by the Independent Board of Trustees of the Trust, ETF Architect will receive
an ETF servicing fee, which covers its costs, and compensates its personnel for the services
rendered to the ETF vehicle. In some cases, the personnel and resources of ETF Architect are
shared with Alpha Architect, its affiliated entity.

CONSULTING SERVICES – GENERAL

Fees for consulting services are negotiated on a case-by-case basis depending on the parameters
of the consulting engagement. Our consulting fees consist of a fixed component of $5,000 and an
hourly component that runs $500.00 per hour. We may choose to negotiate a lower fee
arrangement with a client based on a variety of factors, including complexity, scope, and your
relationship to ETF Architect. Lower fees for comparable consulting services may be available from
other sources.

Fees can be invoiced to you on a monthly or quarterly basis. If consulting services are based on a
flat rate fee, you will be billed in two installments, with the first installment due upon execution of
the consulting agreement. The second installment will be payable upon completion of the
consulting services provided. Platform Service Agreements are typically billed monthly in arrears
and deducted against any management fees recovered.

Other Fees & Expenses

There will be additional fees or charges that result from trading investments within your account.
These fees are imposed by third parties independent from ETF Architect. Any additional fees,
charges or expenses resulting from maintenance of our trading within the account shall be the sole
responsibility of the Sub-advisory Client.

You will also incur certain charges imposed by third parties other than ETF Architect in connection
with investments made in your account, including but not limited to, custodial and brokerage fees,
commissions and transaction fees, no-load 12b-1 distribution fees; certain deferred sales charges
on previously purchased mutual funds, and maintenance fees and retirement plan fees.

Termination and Refund Policy

ETA Architect’s agreement is solely with the Advisor and not Sub-advisory Clients. As such, Sub-
advisory Clients can terminate their relationship with their Advisor in accordance with the terms of
the agreement executed with the Advisor. Any fees owed at the time of termination shall become
payable promptly. Any fees paid in advance that remain unearned will be reimbursed by the Advisor
to the client.

ITEM 7 – TYPES OF CLIENTS

Description

As noted above, ETF Architect provides investment management services to other affiliated and
non-affiliated investment advisors through our sub-advisory services (each such advisor, an
“Advisor”). Sub-advisory Clients of those Advisors includes individuals, high net-worth individuals
and corporations.

Additionally, ETF Architect provides investment advisory services to registered investment
companies, specifically exchange traded funds (ETFs).