Galloway Asset Management LLC

Item 5 - Fees and Compensation

PSF/Galloway Portfolios

The annual asset-based fee for advisory services is charged as a percentage of assets under
management. For directly managed accounts:

    •   PSF/Galloway Venture Portfolios - Fee is a standard 1.25% per year, paid quarterly, in
        arrears for the initial quarter and in advance for subsequent quarters

    •   PSF/Galloway All Inclusive Portfolios - Fee is a standard 1.25% per year, paid quarterly, in
        arrears for the initial quarter and in advance for subsequent quarters

    •   PSF/Galloway ETF Active Portfolios - Fee is 0.75% per year, paid quarterly, in arrears for
        the initial quarter and in advance for subsequent quarters

    •   PSF/Galloway ETF Passive Portfolios - Fee is 0.35% to 0.75% per year, paid quarterly, in
        arrears for the initial quarter and in advance for subsequent quarters

All fees due are established in each client’s Investment Advisory Agreement. Clients should be
aware that portfolios with different management fees creates a conflict of interest as the IAR has an
incentive to recommend portfolios with the highest management fee as some of the firm’s IARs are
paid a percentage of the advisory fee revenues received by the firm for clients they service.

In rare circumstances, all fees may be negotiable. In addition, certain affiliated persons of
PSF/Galloway and family members and personal acquaintances of PSF/Galloway’s affiliated
persons may receive advisory services at a discounted rate which is not available to advisory clients
generally.

Advisory fees will be directly debited from a client account, with the client’s prior required written
authorization. The account is held by an independent custodian and the custodian agrees to
disburse these fees quarterly. The authorization will be made in writing in the form of a limited power
of attorney provided by the client’s custodian. The client will receive a statement from PSF/Galloway,
as well as reports from the account’s custodian. PSF/Galloway will liquidate money market shares
to pay the fee and, if money market shares or cash value are not available, other investments will
be liquidated.

The initial assets deposited into a new account after the beginning of a quarter will result in a
prorated fee (prorated and calculated in arrears and subsequent fees shall be payable in advance).
Fee payment will be based on the gross value of your account(s) at the end of the calendar quarter.
PSF/Galloway considers cash, including sweep money fund, to be an asset class and cash is
included in the fee calculation.

Quarterly billing adjustments are made for any deposits or withdrawals, including cash, made during
the quarter in an account. These adjustments will result in a prorated fee for assets which were
deposited or withdrew from account during the applicable quarter.

Clients may terminate at any time by providing a signed PSF/Galloway Termination of Advisory
Services Form to PSF/Galloway. The Client may request form by contacting their IAR (Financial
Advisor) or a Client Relationship Specialist at PSF/Galloway. If a client terminates, prepaid fees will
be refunded on a pro-rated basis, upon client signing a PSF/Galloway Termination of Advisory
Services Form. A PSF/Galloway Termination of Advisory Services Form signed by client is required
to liquidate client’s account. Clients must also call PSF/Galloway to verify over the phone that they
are in fact the person submitting the form. Spouses, relatives or other persons may not process the
form on behalf of the client. The client is required to sign a termination agreement to receive a
prorated fee refund of any unused fees. Unused fees will be prorated as of the date a PSF/Galloway
Termination of Advisory Services form is received in good order. Refunds of less than $10 (ten
dollars) will not be processed.

In cases where clients were not provided this disclosure brochure at least 48 hours prior to entering
into an advisory agreement with PSF/Galloway, the client shall have the right to terminate their
agreement within five business days after entering into the agreement with a full refund of advisory
fees paid (if any).

Implementation of Recommendations Outside of PSF/Galloway Portfolios

While PSF/Galloway’s services are provided with the intention of the client implementing
recommendations within the PSF/Galloway Portfolios, clients are not obligated to do so. If clients
elect to have an IAR implement the client’s recommendations outside of the PSF/Galloway
Portfolios, implementation will be made through the IAR in the IAR’s capacity as a registered
representative or insurance agent. When clients implement recommendations through the IAR in
one of these separate capacities, the IAR will receive commissions and related compensation, such
as 12b-1 or trail fees, resulting from the client’s purchase of recommended securities or insurance
products (Note: PSF/Galloway’s IARs do not receive 12b-1 or trail fees for PSF/Galloway RIA
business,). While PSF/Galloway has procedures in place that endeavor to at all time to put the
interest of the clients first as a part of the PSF/Galloway’s fiduciary duty, clients should be aware
that the receipt of commissions and additional compensation itself creates a conflict of interest and
gives the IAR an incentive to recommend investment and insurance products based on the
compensation received rather than on the client’s needs.

Investment advisory clients are under no obligation to purchase from their PSF/Galloway IAR any
securities or insurance products that he or she recommends and may purchase recommended
products from the broker-dealer or insurance company of their choice. PSF/Galloway may waive or
reduce the amount of the investment advisory fee as a result of the additional fees and/or
commissions being earned. Any adjustment to the investment advisory fee is at the discretion of
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Item 7 - Types of Clients

PSF/Galloway provides services to individuals (including trusts and estates) and high net worth
individuals.

There is no minimum investment required to invest in PSF/Galloway Portfolios, however, it is
recommended based on PSF/Galloway Portfolio strategies to invest:

   •   Venture: $100,000
   •   All Inclusive: $50,000
   •   ETF Active and ETF Passive: $50,000