Fairfax Global Investment Management LLC

Item 5 – Fees & Compensation
    Client Agreements: Fairfax enters into a written client investment advisory agreement (“Agreement”)
    with each client for whom Fairfax acts as an investment adviser prior to rendering investment advisory
    services. Clients generally elect to have Fairfax’s advisory fees deducted from their custodial account.
    Both Fairfax’s Agreement and the custodial/ clearing agreement may authorize the Custodian to debit
    the account for the amount of Fairfax’s advisory fee and to directly remit that management fee to the
    Firm. Fairfax may also bill the client directly if stipulated in the Agreement. In the case of direct billing,
    payment is due upon receipt of Fairfax’s invoice. Fairfax will deduct fees and/or bill clients monthly or
    quarterly in advance. The fee for each period will be based upon the market value of the client’s assets
    on the last business day of that period.
    In certain circumstances, Fairfax’s fees and account minimums are negotiable. The Firm charges a
    maximum investment management fee of 2.50% of assets under management. The amount of fee
    charged by the Firm is based on the amount of assets placed under Fairfax’s direct management, the
    amount of assets placed under Fairfax’s advisement, the complexity of the engagement, and the level
    and scope of the overall investment services to be rendered.
    Fees and Expenses by Third Parties: All fees paid to the Firm for investment advisory services are
    separate and distinct from certain charges imposed directly by third parties. Such charges include, but
    are not limited to, custodial fees, charges imposed directly by an ETF in the account, which shall be
    disclosed in the fund's prospectus (e.g., fund management fees and other fund expenses), deferred
    sales charges, short-term redemption fees, odd-lot differentials, transfer taxes, wire transfer and
    electronic fund fees, and other fees and taxes on brokerage accounts and securities transactions.
    Additionally, clients may incur brokerage commissions and transaction fees. See Item 12 – Brokerage
    Practices for more information.
    Clients can purchase shares in an ETF directly, without the services of Fairfax. In that case, clients
    would not receive the services provided by Fairfax which are designed, among other things, to assist the
    client in determining which investments are most appropriate to each client’s financial condition and
    objectives.

Item 7 – Types of Clients
    Fairfax clients are comprised primarily of individuals, high net worth individuals, pension and profit-
    sharing plans, business entities, corporations, and other registered investment advisors. The Firm
    generally requires a minimum account size of $30,000 for investment advisory services. The Firm may
    waive this minimum at its discretion.