Folger Nolan Fleming Douglas Incorporated

“Fees and Compensation”).

In addition, Folger Nolan Fleming Douglas Capital Management, Inc. (“CMI”) is a wholly owned,
indirect subsidiary of FNFD and SEC-registered investment adviser. CMI provides discretionary
investment management services to its clients. The advisory business of CMI, unlike FNFD (here,
as it relates to FNFD’s PWM Business), provides discretionary investment advice to clients, in a
traditional investment advisory structure. CMI’s business is entirely separate from the advisory
services provided by FNFD.

CMI and FNFD share certain members of management. Richard S. Foster is President, Chief
Executive Officer, Treasurer and Chief Operating Officer of CMI and FNFD and a Registered
Principal and Registered Representative of FNFD. John R. Current, an Executive Vice President and
Secretary of FNFD and a Registered Principal and Registered Representative of FNFD, is also
Secretary of CMI and a director of both FNFD and CMI. Lee M. Folger is a director of both CMI
and FNFD. Neil C. Folger is a Senior Portfolio Manager of CMI, Chair of both CMI and FNFD, and
also a Registered Principal of FNFD.

FOLGER NOLAN FLEMING DOUGLAS INCORPORATED

ITEM 7 – TYPES OF CLIENTS

Currently, FNFD operates a limited private wealth management business that provides non-
discretionary, fee-based investment advisory services to a single ultra-high-net-worth family client.
The PWM Business is currently available only to the PWM Client and is not offered to any other
clients.

FOLGER NOLAN FLEMING DOUGLAS INCORPORATED