Fiduciary Capital Management LLC

ITEM 5: FEES AND COMPENSATION

Investment Management Fees and Compensation

Fiduciary CM® charges a fee as compensation for providing investment management services on your account.
These services include advisory and consulting services, trade execution, investment supervision, and other account
maintenance activities. In addition, Fiduciary CM®’s custodian may charge transaction costs, custodial fees,
redemption fees, retirement plan fees, alternative asset fees, and other administrative fees or commissions. Please
see “Additional Fees and Expenses” below for further details.

Certain assets (e.g., mutual funds, ETFs, alternative investments, UITs, MLPs, etc.) deposited or purchased in your
accounts may also be subject to separate management and administrative fees, as described in the applicable
prospectus or agreement. These fees are independent of Fiduciary CM®’s fees and should be disclosed by the
custodian or contained in the investment’s offering documents. Clients should be aware that fees for comparable
services vary, and lower fees may be available from other sources.

The annual fee for portfolio management services is billed quarterly either in arrears or in advance. The fee is based
on the average daily market value of the account(s) during the billing period, or on the prior quarterly ending
balance. Fees are calculated on a calendar-year basis (including leap years). Because of deposits or unsettled trades,
the prior quarterly ending balance used for fee calculation may differ from the account value shown on the
custodian’s statement. Fees are assessed on all assets under management, including securities, cash, and money
market balances—unless otherwise noted in the client agreement. Fiduciary CM® may exclude certain positions for
billing purposes. Margin balances do not reduce the value of assets under management.

Fiduciary CM®’s maximum annual investment advisory fee is 2.50%. The specific fee applicable to each client is
outlined in the investment advisory agreement. Fees may vary depending on account size, portfolio complexity,
account activity, or other factors agreed upon by Fiduciary CM® and the client. In some cases, fees and billing
arrangements may be negotiated.

In certain cases, Fiduciary CM® may aggregate household account balances to determine the applicable advisory
fee. This consolidation allows clients to benefit from a higher combined asset total, which may reduce the effective

                                                                                       ADV Part 2A - Firm Brochure

advisory fee under the applicable schedule.

The independent qualified custodian holding client assets will debit the advisory fee directly from the account and
remit payment to Fiduciary CM®. Clients provide written authorization permitting fees to be deducted directly from
their custodial account. Custodians provide independent account statements at least quarterly, showing account
balances, transaction history, and all fees deducted, including Fiduciary CM®’s advisory fees. Clients are
encouraged to carefully review these statements for accuracy. At Fiduciary CM®’s discretion, advisory fees may
also be paid by check. Clients with questions about their management fee calculation or the data inputs used are
encouraged to contact the Fiduciary CM® Compliance Department, which will provide full details regarding fees.

Either Fiduciary CM® or the client may terminate the management agreement upon written notice to the other party.
Upon termination, the management fee will be prorated through the effective date of termination for the quarter in
which notice was given, and any unearned fees will be refunded or additional fees billed. After termination, clients
are solely responsible for monitoring and managing the securities in their account, and Fiduciary CM® will have no
further obligation to act on or advise regarding those assets.

Financial Planning Fees / Consulting Services

Fiduciary CM® provides planning and consulting services for clients seeking advice on a limited scope of work.
Fees for these services are negotiated with each client. Under a fixed-fee arrangement, the fee will be agreed upon
in advance of services being performed. Fees generally range from $100 to $10,000 and may vary depending on the
extent and complexity of the planning or consulting project.

Typically, Fiduciary CM® will complete a financial plan within 30 days and present it to you within 90 days of the
contract date, provided that all required information has been received.

Fees are never based on, or related to, the performance of your funds or investments. Fiduciary CM® does not require
prepayment of more than $1,200 in fees per client, six or more months in advance of providing any planning or
consulting services.

Financial planning and consulting services may be terminated by either party at any time without penalty upon
written notice. Services are considered complete upon delivery and discussion of the financial plan.

Variable Product Advisory Management Fees

A Fiduciary CM® IAR may offer investment management services on the sub-account allocations within a variable
product you own, such as a variable annuity or a variable universal life insurance policy. This service may be
provided on a discretionary basis and will be detailed in your advisory agreement. When offering this service, your
IAR may apply their own analysis, research methods, investment style/strategy, and ongoing management
philosophy.

If you engage your IAR to provide advice regarding your variable product, you will pay a separate advisory fee for
this service. This fee is in addition to the internal costs of the variable product itself and is calculated as a percentage
of your variable product account value, including any cash or cash equivalent positions. When provided directly by
your IAR, the advisory fee will not exceed 2% annually. The specific advisory fee applicable to you will be clearly
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ITEM 7: ACCOUNT REQUIREMENTS AND TYPES OF CLIENTS

Fiduciary Capital Management LLC provides advisory services to individuals, high-net-worth individuals, families,
small businesses, foundations, trusts, charitable organizations, estates and other investment advisers. We also
advise on retirement accounts, including – but not limited to – IRAs, SEPs, SIMPLEs, Solo 401(k)s, retirement
trusts, defined benefit plans, small business 401(k) plans, and corporate 401(k) plans.

Fiduciary CM® does not impose minimum requirements for opening or maintaining accounts, or for engaging our
services. However, certain TPAMs may require a minimum account size, and these requirements can vary from one
TPAM to another.