First Nebraska Advisory LLC

Item 5: Fees and Compensation
  A.​ Adviser is compensated for its advisory services primarily by fees charged based on a client’s
      assets under management with Adviser. Fees are negotiable, and each client’s specific fee
      schedule is included as part of the investment advisory agreement signed by Adviser and the
      client.​
      ​
      Adviser’s standard fee schedule is included below, subject to negotiation with a client:​

           Client Assets Under Management                                 Annual Fee Percentage
                                                                             (paid quarterly)
                    $0 - $1,000,000                                               1.00%
              Any amount above $1,000,000                                      Negotiated

      Clients that are utilizing the services of FPAS will also be charged an administrative fee by FPAS
      pursuant to the standard fee schedule below, subject to negotiation with a client:​

           Client Assets Under Management                                 Annual Fee Percentage
                                                                             (paid quarterly)
                     $0 - $500,000                                                0.25%
                 $500,001 - $1,000,000                                            0.20%
                $1,000,001 - $5,000,000                                           0.15%
              Any amount above $5,000,000                                         0.10%

  B.​ Fees are deducted in advance on a quarterly basis from clients’ assets and based upon the
      market value of such assets managed by Adviser as of the last day of the prior calendar quarter.
      In the event a client deposits $10,000 or more during a particular quarter, such client will be billed
      a pro-rata advisory fee based on the remaining number of the days in such quarter. Conversely,
      in the event a client withdraws $10,000 or more during a particular quarter, such client will be
      refunded a pro-rata advisory fee based on the remaining number of days in such quarter.
      Advisory fees for ERISA Plan Advisory Services are deducted from the assets of the plan as
      described above.

  C.​ In addition to the fees charged by Adviser, clients will incur brokerage and other transaction costs.
      Please refer to Item 12: Brokerage Practices, for further information on such brokerage and other
      transaction-related practices. Clients will also typically incur additional fees and expenses
      imposed by independent and unaffiliated third-parties, which can include qualified custodian fees,
      mutual fund or exchange traded fund fees and expenses, mark-ups and mark-downs, spreads
      paid to market makers, wire transfer fees, check-writing fees, early-redemption charges, certain
      deferred sales charges on previously-purchased mutual funds, margin fees, charges or interest,
      IRA and qualified retirement plan fees, and other fees and taxes on brokerage accounts and
      securities transactions. These additional charges are separate and apart from the fees charged
      by Adviser.

  D.​ If Adviser or client terminates the advisory agreement before the end of a quarterly billing period,
      Adviser’s fees will be prorated through the effective date of the termination. The pro rata fees
      earned for the remainder of the quarterly billing period after the termination will be refunded to
      client via check or direct deposit.

  E.​ Neither Adviser nor any of its supervised persons accepts compensation for the sale of securities
      or other investment products, other than in supervised persons’ capacity as a registered
      representative of Osaic Wealth, Inc. (“Osaic”). Osaic is an independent and unaffiliated

                                       Date of Brochure: March 11, 2026

broker-dealer and investment adviser, and from time to time the investment adviser
representatives of Adviser (JW “John” Smith, Mitchell Smith, and Darrel Smith, referred to herein
as the “IARs”) will earn an ordinary and customary commission from the sale of a security in such
capacity. This creates a conflict of interest, because the IARs have the potential to earn both
commissions and advisory fee revenue from a client. The IARs address this conflict of interest by
fully disclosing their relationships with Osaic and the costs associated with commissionable
securities transactions, and informing clients that they are under no obligation to purchase a
security through them.

                               Date of Brochure: March 11, 2026

Item 7: Types of Clients
Adviser generally provides its services to individuals, high-net-worth individuals, trusts, estates, business
entities, charitable organizations and pension and profit sharing plans. There is no minimum account
value required to open an account with Adviser.

                                         Date of Brochure: March 11, 2026