GFM Asset Management LLC

Item 5: Fees and Compensation

 Assets Under Management (AUM) Fees
 GFM’s primary service fee for most managed accounts is charged as an annual
 percentage of the account’s market value, also known as assets under management
 or “AUM”. For accounts with no performance fee, this percentage generally starts at
 1.5% of the first $250,000, then 1.0% on the portion of the balance up to $1,000,000,
 then 0.75% up to $5,000,000, then 0.5% above $5,000,000. These AUM fees may be
 reduced to keep total fees proportional to services provided, or may be offset or
 replaced by any performance-based fees applied to an account (Item 6).

 AUM fees may be calculated prorated and applied daily, monthly or quarterly,
 depending on the Platform setup. The client authorizes the Platform, either directly
 or in the service agreement with GFM, to directly debit the client’s account for the
 amount of any fees due and to directly remit those fees directly to GFM. These
 financial institutions generally send a monthly or quarterly account statement to the
 client, providing information including account balance, portfolio compositions,
 amounts deposited into or withdrawn from the account, and any fees paid to GFM.
 For accounts held at custodians that do not provide direct debiting, AUM fees may be
 invoiced separately.

 Brokerage and Other Costs
 GFM’s fees do not include any per-transaction, custodial, interest, or other additional
 fees and costs charged by the Platform. GFM does not receive any portion of these
 commissions, fees or costs, but helps clients understand and manage these costs.

 As detailed in Item 12 (below), GFM managed accounts generally require the account
 be held at a Platform where GFM is set up as an adviser or discretionary manager.
 GFM receives no compensation for recommending one Platform over another, and
 makes such recommendations based on how the client may best be served. Costs
 of accounts held away from GFM management are the client’s sole responsibility.

 GFM may only begin portfolio management services after the client has provided all
 the required information and approvals on the respective Platforms.

 Termination
 Agreements between GFM and the client will continue in effect until terminated by
 either party pursuant to the terms of the Agreement. Fees shall be prorated through
 the date of termination and any remaining balance shall be charged or refunded to
 the client accordingly.

© 2026 GFM Asset Management LLC                                              Page 5 of 15

  Investment Adviser Brochure

  Disclosure Brochure                                                          31 March 2026

 Hourly, Monthly and Per-Item Fees
 GFM may also offer other professional services, including review and advice on
 accounts and assets not under management, as well as more comprehensive
 financial planning and wealth management services. These services may be included
 at no extra charge for clients already paying proportional levels of managed account
 fees, or invoiced separately on a per-hour, per-month (retainer), or per-line-item basis,
 subject to advance quote and agreement.

 Funding and Securities Transfers
 Clients may fund accounts in cash or by transferring securities, provided that GFM
 reserves the right to liquidate any transferred securities or decline to accept particular
 securities into a client’s account. GFM may consult with its clients about the
 implications of transferring securities. Clients are advised that when transferred
 securities are liquidated, they may be subject to transaction fees, and/or taxes.

Item 7: Types of Clients
 GFM clients include individuals, retirement/pension plans, trusts, and related entities.
 GFM clients generally have a long investment time horizon and/or cross-border needs
 that can benefit from GFM’s long term perspective and international experience.

 GFM managed accounts do not have a fixed minimum initial account size, but are
 generally expected to have a minimum investment time horizon of at least 10 years.

 GFM reserves the right to accept or refuse accounts or clients on a case-by-case
 basis at its sole discretion.

 Each Platform may also impose their own minimums or other account requirements,
 and GFM may impose additional requirements to accept managing an account with a
 given Platform.

 GFM profiles each account based on the client’s financial situation and objectives. In
 addition, clients with managed accounts generally receive financial planning, advice
 on outside investments, and other services covered by the fees charged for managing
 the client’s accounts.

 GFM may also serve clients without managed accounts on a per-project, per-item,
 hourly, monthly, or annual fee basis, or on a subscription basis, and these clients may
 be individuals, trusts, corporations, clubs or other groups wishing to retain an
 investment expert’s services for a standalone fee. These clients may not have a time
 horizon shorter than 10 years, or may be unable or unwilling to move assets to a GFM
 managed account, and prefer to pay a separate fee for specific services.

© 2026 GFM Asset Management LLC                                               Page 7 of 15

  Investment Adviser Brochure

  Disclosure Brochure                                                             31 March 2026