Fiduciary Counselling Inc

Item 5 - Fees and Compensation
Generally, FCI charges an inclusive fee for investment advisory, accounting, tax, estate planning,
financial planning, and trust and charitable administration services. The fee is charged as a
percentage of the assets held in the client’s account in accordance with the following annual
schedule:

Fiduciary Counselling, Inc.
Form ADV, Part 2A

                                                                      BASIS POINTS
          MARKET VALUE                                RATE
                                                                     (100 bps = 1.00%)
          $           0 to 1,000,000                  0.700%               70.0
          $   1,000,001 to 2,000,000                  0.675%               67.5
          $   2,000,001 to 5,000,000                  0.625%               62.5
          $   5,000,001 to 10,000,000                 0.460%               46.0
          $ 10,000,001 to 25,000,000                  0.350%               35.0
          $ 25,000,001 to 50,000,000                  0.310%               31.0
          $ 50,000,001 to 75,000,000                  0.280%               28.0
          $ 75,000,001 to 100,000,000                 0.230%               23.0
          $ 100,000,001 to 200,000,000                0.160%               16.0
          $ 200,000,001 to 300,000,000                0.100%               10.0
          $ 300,000,001 +                             0.080%                8.0

Fees are generally billed in arrears on a quarterly basis and at a rate of one-fourth of the annual
fee, unless otherwise negotiated. The fee for any period that is less than a full quarter is pro-
rated. Fees will be separately billed to the client unless the client authorizes direct payment from
account assets.

FCI’s fees are generally non-negotiable; however, FCI reserves the right to reduce or waive fees
at its sole discretion. FCI also reserves the right to exclude (exempt) assets from the above fee
schedule, to provide discounts and to aggregate accounts for the purpose of applying the
breakpoints set forth above. Shares of exempted family companies owned by certain FCI clients
are excluded from the above fee schedule.

FCI charges a flat fee, rather than asset-based fees, for certain services, as described below.

FCI’s asset-based fees are charged on the market value of all assets held in the client’s account
for which FCI provides investment advisory, reporting or other services as set forth in the client
agreement. FCI’s fee is computed and billed quarterly based on the average of 16 trailing
quarters, ending on the last quarter of the prior calendar year, of the market value of all assets
including cash, short-term investments, annuity contracts, accounts receivable from securities
sales, bonds, mutual funds, family businesses, stocks, private equity, investment real estate,
short-term investments, digital assets and other investments. Market values for common stocks,
ETFs, REITs and other publicly-traded securities are generally determined by their last reported
sale price on the principal market in which they are traded. These prices are provided by a third-
party pricing service. Investment real estate is valued at assessed value listed by the local taxing
authority where the property is located if available. If the local taxing authority does not list an
assessed value, or if the assessed value is adjusted such that the value is an unreasonable
representation of the property, then they are priced at cost. Mutual funds are valued at their
stated net asset value. Other readily marketable securities are valued by using a pricing service
or other external sources. Family businesses and other private companies are generally valued at
equity or net cost or such other methodology communicated to clients with respect to a particular
holding. Private equity investments are generally valued at their stated value based on the most
recent capital statements or other value as provided by the general partner or sponsor of the
investment. Digital assets are generally valued at the daily closing price provided by a third-
party pricing source. Other securities or investments for which market quotations are not readily

Fiduciary Counselling, Inc.
Form ADV, Part 2A

available will be valued by FCI in a manner determined in good faith to reflect fair market value.
In determining fair value for a given security or asset, FCI will generally consider factors such as
external pricing events and information regarding transactions, appraisals or other factors that
might affect cost basis or market value. In certain instances, the FCI Valuation Committee will
determine valuations based on these factors. Absent any of the factors, the security or asset will
generally be priced at cost.

Householding Election
Clients may elect to be billed for FCI’s services at the household level, rather than at the
individual account level. If householding is elected, FCI will aggregate the market value of
billable assets held in household-managed accounts, which may result in a lower fee than if fees
were charged at the individual account level, and only one of the household-managed accounts
will be responsible for directly paying FCI’s fees. Household is generally defined to include the
client, the client’s individual personal, custodial and revocable trust accounts, and those accounts
of a client’s spouse and unmarried dependent children through December 31 st of the year of their
25th birthday (regardless of whether they share the same physical address as the client).

Minimum Fee
FCI’s standard minimum annual fee per account is $1,000 for foundations and individuals over
age 21. A minimum annual fee of $250 applies to custodial accounts, minority trusts,
irrevocable trusts and qualified personal residence trusts in grantor period. A minimum annual
fee of $500 applies to certain non-joint spousal accounts that choose not to household. Minimum
...

Item 7 - Types of Clients

This Item requires a description of the types of clients to whom FCI provides investment advice
as well as any requirements to opening or maintaining an account with FCI. FCI’s clients include
individuals, trusts, charitable organizations, corporations and other business entities, a registered
investment adviser and a registered investment company. FCI performs services exclusively for
descendants and family members of a single family and their related entities including a trust
company created for the benefit of such family members and entities. FCI does not impose a
minimum account size.

Private investment funds may require certain conditions be met prior to investing as outlined
within the applicable offering memorandum and related documents.