Endure Capital LLC

Item 5. Fees and Compensation
Investment Advisory Service Fees:

Endure Capital is compensated for its investment advisory services on a fee-only basis. Endure
Capital’s standard fees (the “Applicable Fee”) are based upon a percentage of assets under
management and generally range from 0.50% to 1.25% on a tiered basis. Endure Capital’s fees are
generally based on the standard schedule below:

                Total Account Value                                  Applicable Fee
                < $1,000,000                                             1.25%
                ≥ $1,000,000 and < $5,000,000                            1.00%
                ≥ $5,000,000 and < $15,000,000                           0.85%
                ≥ $15,000,000 and < $25,000,000                          0.75%
                ≥ $25,000,000 and < $50,000,000                          0.65%
                ≥ $50,000,000                                            0.50%

The Firm bills for fees on a monthly basis based on calendar month and asset-based fees are
calculated using the account’s asset value (including cash and cash equivalents) as of the last
business day of the prior month unless otherwise agreed upon. The fees are automatically
deducted directly from the client’s account unless a direct bill is agreed upon, in which supported
payment methods may include ACH, credit card, or check. Fees are generally billed in arrears, and
due upon billing. Advisory fees are never charged more than six months prior to the performance of
services. Clients will receive a periodic (at least quarterly) account statement from their custodian,
reflecting among other things, any fees withdrawn by the custodian and paid to the Firm.
Comparable services for lower fees may be available from other sources. The Firm has discretion
to waive or reduce the minimum fee level for any client at any time.

Prior to engaging Endure Capital to provide advisory services, clients are required to enter into a
written Investment Advisory Agreement (the “Agreement”) with Endure Capital setting forth the
terms under which the Firm will provide its services. The exact services provided, and applicable
fee schedule will be agreed upon and disclosed in the Agreement. The Agreement is terminable at
will by either party upon receipt of written notice to the other party. The client is responsible for any
fees and charges incurred by the client from third parties as a result of maintaining the account such
as transaction fees for any securities transactions executed and account maintenance or custodial
fees. Clients who terminate investment advisory services during a month are charged a prorated
advisory fee based on the date of the Firm’s receipt of client’s written notice to terminate. Any
earned but unpaid fees are immediately due and payable, and any prepaid and unearned fees will
be immediately refunded.

Endure Capital LLC                                                                    March 30, 2026
Form ADV Part 2A

Additional Fees and Expenses

In addition to advisory fees paid to Endure Capital as explained above, clients may pay custodial
service, account maintenance, transaction, and other fees associated with maintaining the
account. These fees vary depending on broker and/or custodian selected. Clients should ask
Endure Capital for details on transaction fees or other custodial fees specific to their account, as
these fees are not included in the annual advisory fee. The Firm does not pay any portion of such
fees. Additionally, for any mutual funds purchased, the client may pay their proportionate share of
the funds’ distribution, internal management, investment advisory and administrative fees. Such
fees are not paid by Endure Capital and are paid directly to the fund manager. Clients are urged to
read the mutual fund prospectus prior to investing.

The fees that clients pay to Endure Capital for investment advisory services are separate and
distinct from the fees and expenses charged by mutual funds or exchange traded funds (described
in each fund's prospectus) to their shareholders. These fees will generally include a management
fee and other fund expenses. Clients will also incur transaction charges and/or brokerage fees when
purchasing or selling securities. These charges and fees are typically imposed by the broker- dealer
or custodian through whom client account transactions are executed. Endure Capital does not
share in any portion of the brokerage fees/transaction charges imposed by the broker-dealer or
custodian. To fully understand the total cost clients will incur, clients should review all the fees
charged by mutual funds, exchange traded funds, the Firm, and others. For information on the
Firm’s brokerage practices, please refer to the Brokerage Practices section of this brochure.

Client assets invested in hedge funds or unaffiliated private funds are subject to management fees
and other fees and expenses (including performance/incentive-based fees) as described in each
fund’s offering materials. These fees are separate from and in addition to the fees charged by the
Firm. Endure Capital does not receive any portion of these additional fees and is not otherwise
compensated for referrals to any private funds.

In some cases, Endure Capital may select other advisers for the management of a portion of client’s
assets. Assets invested with separate advisers recommended and/or utilized by Endure Capital are
subject to additional management fees as described in each adviser’s disclosure brochure (Form
ADV Part 2A). Such fees are in addition to the Firm’s management fees. Endure Capital does not
receive any portion of these additional fees and is not otherwise compensated for referrals to any
other adviser.

The subadvisor fee rate can be up to 0.35% percent per annum. This fee is only charged on client
assets on the subadvisor platform and the Client’s account for such fees will be directly debited by
...

Item 7. Types of Clients
Endure Capital offers investment advisory services to individuals, high net worth individuals, and
other investment advisers. Certain investments the Firm recommends (for example certain Interval
Funds), are available only to accredited investors (as defined in Rule 502 under the Securities Act),
qualified clients (as defined in Section 205-3 of the Investment Advisers Act of 1940) or qualified
purchasers (as defined in Section 3(c)(7) of the Investment Company Act of 1940).

There is a $1,000,000 minimum account size to open and maintain an advisory account. The Firm
retains discretion to change the investment minimum for any account, or to decline any potential
client for any reason. Endure Capital requires each client to execute an Investment Management
Agreement that details the nature of the discretionary investment advisory authority given to the
Adviser.

There will be times when certain restrictions are placed by a client, which prevents the Firm from
accepting or continuing to manage the account. Endure reserves the right to not accept and/or
terminate management of a client’s account if it feels that the client imposed restrictions which
would limit or prevent it from meeting and/or maintaining its overall investment strategy.

Endure Capital LLC                                                                        March 30, 2026
Form ADV Part 2A