Garner Asset Management Corporation

FEES AND COMPENSATION

   Garner Asset Management Corporation is a fee-only firm and receives compensation
   only from clients. The Firm does not receive commissions or other compensation in
   relation to any product or service recommended.

   GAMC’s annual fee is based on the amount of a client’s assets under management (see
   table below), and may be adjusted up or down based on the complexity of the client’s
   situation. The minimum annual fee is $550.

                                                       Part 2A of Form ADV: Firm Brochure
                                                      Garner Asset Management Corporation
                                                                           March 23, 2026

                    Portion of Investment Portfolio     Annual Rate
                            $0 to $500,000                 1.1%
                       $500,000 to $1,000,000              1.0%
                      $1,000,000 to $1,500,000             0.9%
                             > $1,500,000                negotiable

Clients with portfolios comprised only of mutual fund products will be charged on assets
under management at the annual rate of 0.40%. This rate may be adjusted up or down
based on the complexity of the client’s situation and is accurately disclosed in each
Garner Portfolio Manager Account Agreement.

Fees are calculated based on the portfolio valuation as determined by the account
custodian at the close of market on the first business day of each period. Fees are billed
quarterly in advance at the rate of one fourth of the annual fee shown above and may be
deducted from clients’ accounts. Fees for additions and withdrawals are calculated pro
rata for partial billing periods based upon the value of the assets in the account and the
number of days in the calendar quarter. The initial deposit into the client’s account is
charged pro rata in arrears for the partial quarter. Fee calculations for additions and
withdrawals are also calculated in arrears.

Clients pay all fees charged by the custodian and broker, including wire transfer, trade
commissions, and margin interest. At the close of the quarter, GAMC calculates the total
transaction fees each client paid during the quarter, and deducts this expense from the
investment management fee charged to each client. Reports to clients of cost basis of
any securities purchased under this pricing schedule will show the cost including
payment of transaction fees. Only accounts held in custody by Charles Schwab & Co.,
Inc. may engage GAMC under this fee arrangement.

Since the Firm deducts transaction fees from its investment management fee, it could be
an incentive for GAMC to trade less frequently for clients than if they were to pay such
fees directly.

When GAMC recommends a mutual fund for a client’s account, three separate fees may
be charged to the client, either directly or indirectly. The first fee is GAMC’s investment
management fee where the fund is included in the asset base for the quarterly fee
calculation. The second is the set of internal fees charged by the investment company
for the fund’s investment management, marketing, administration, and marketing
assistance. These internal expenses are disclosed in each fund’s prospectus which is
provided to each client by the custodian. (This set of fees also applies to any money
market fund purchased in the client’s account.) The third fee may be a transaction fee
which is assessed by the custodian for its service of providing access to a universe of
mutual fund families through one account. To avoid such fees a client would be required
to open a separate account with each individual mutual fund company instead of using
the custodian recommended by the Firm, which would also negatively affect GAMC’s
ability to deliver its services efficiently. Not all mutual fund trades enacted by GAMC
incur this transaction fee. When recommending mutual funds for client portfolios, GAMC
recommends only no-load funds.

                                                           Part 2A of Form ADV: Firm Brochure
                                                          Garner Asset Management Corporation
                                                                               March 23, 2026

    The Garner Portfolio Manager Account Agreement allows for the client to terminate the
    agreement immediately upon receipt of written notice, and GAMC may terminate with
    thirty days’ written notice. At the date of termination, any prepaid and unearned fees will
    be refunded to the client on a pro rata basis. GAMC will provide summary statements in
    the event of termination during a quarter.

    Hourly fees will be charged at the rate of $200 per hour with a $550 minimum. Fixed
    fees are negotiated on a per case basis and can very widely depending on the scope of
    work being performed, minimum fee $550.

PERFORMANCE-BASED FEES AND SIDE-BY-SIDE MANAGEMENT

    GAMC does not charge performance based fees.

TYPES OF CLIENTS

    GAMC provides investment advice to the following types of clients:

       •   Individuals
       •   Individual participants of Pension and profit sharing plans
       •   Trusts and estates

    The preferred minimum account size is $50,000, which is negotiable.

METHODS OF ANALYSIS, INVESTMENT STRATEGIES AND RISK OF LOSS

    GAMC uses fundamental analysis of financial attributes of a company, such as revenue,
    in evaluating investments for client accounts. Investing in securities involves the risk of
    loss clients should be prepared to bear.

    The Firm uses the following sources of information in its analysis:

       •   Annual reports, prospectuses, filings with the Securities and Exchange
           Commission
       •   Research materials prepared by others
       •   Company press releases
       •   Financial newspapers

    The investment strategies used by GAMC to implement investment advice include the
    following:

       •   Long-term purchases (securities held at least a year)
       •   Short-term purchases (securities sold within a year)
       •   Short sales

    The Firm does not guarantee the future performance of the account or any specific level
    of performance, the performance of any investment decision or strategy that the Firm
    may use, or the performance of the Firm’s overall management of the account. The

                                                           Part 2A of Form ADV: Firm Brochure
                                                          Garner Asset Management Corporation
                                                                               March 23, 2026

    client is reminded that investment decisions made for the account by the Firm are
    subject to various market, currency, economic, political and business risks, and that
    those investment decisions will not always be profitable.