Gleneagles Investment Advisors LLC

ITEM 5: Fees and Compensation

General Fee Information

GIA’s specific advisory fees are set forth in each investment advisory agreement or other agreement
between us and our clients. Since all of our clients are qualified purchasers, as defined in Section 2 (a)(51)
of the Advisers Act, this brochure will only be delivered to qualified purchasers. Accordingly, clients
should refer to their advisory agreements for more detailed info regarding their advisory fees with GIA.

GIA’s fees for investment management services depend on the services provided, the amount of assets in
the portfolio and the type of account being managed. Generally, we will charge 35 basis points on assets
under management with a minimum annual fee of $26,000. Although rare, there may be cases in which we
charge hourly or project-based fees for special projects. Any hourly or project-based fees would require
agreement with the client before such fees are incurred, and GIA’s standard hourly rates range from $75
per hour to in excess of $400 per hour. Any fees billed at hourly rates are due and payable monthly. Fees
can be negotiated based on varying factors.

Our advisory fee is billed quarterly and is based on the closing balance for the quarter to which the fee
relates (pro-rated if necessary, for partial quarters).

Fees are debited directly from the client’s account. We will send notice to the client at the same time the
fee statement is sent to the Custodian for payment showing the amount of the fee the value of the assets on
which the fee was based, and the specific manner in which the fee was calculated.

GIA may agree to provide additional, ancillary services to our clients. The nature and scope of such
additional, ancillary services, and the amount of fees payable to GIA for these services will be set forth in
the client’s advisory agreement.

In addition to GIA’s fees for investment management services, client will also be responsible for payment
of all charges imposed by unaffiliated third parties. Such charges may include, but are not limited to, fees
charged by third-party investment adviser(s), custodial fees, brokerage commissions, transaction fees,
charges imposed directly by a mutual fund, index fund, or exchange traded fund purchased for the client’s
account, which shall be disclosed in the fund’s prospectus (e.g., fund advisory fees and other fund
expenses), fees imposed by variable annuity providers and disclosed in the annuity contract, certain deferred
sales charges, odd-lot differentials, transfer taxes, wire transfer and electronic fund fees, and other fees and
taxes on brokerage accounts and securities, transactions.

Clients should review all fees charged by GIA and third parties to fully understand the total amount of fees
to be paid. See additional information below under “Brokerage Practices”.

Fee adjustments will be made within a billing period for contributions and withdrawals.

Upon termination of an investment advisory agreement, any fees owed to GIA shall be paid by the client
on a prorated basis as of the effective date of termination, and any fees paid by the client that have not been
earned shall be refunded to the client on a prorated basis as of the effective date of termination.

Although we believe our fees are competitive, lower fees for comparable services may be available from
other investment advisers.
For individuals, GIA generally negotiates a management fee based on the scope and complexity of the
particular services the client will receive. GIA’s investment advisory services are typically bundled with
family office services provided by our affiliates including, without limitation, GCM, any fee charged will
be charged by GIA’s affiliates. However, depending on the client and the agreement, there will be clients
that are charged special investment advisory services fees by GIA directly.

Generally, fees for individual accounts described above are payable on a quarterly basis, although for
certain individual accounts, fees may be paid on a monthly or other basis. For new accounts, the fee will be
prorated and payable in the quarter following when the account is established. The client may terminate an
agreement with GIA or its affiliates in accordance with its notice provisions, which is generally 30 days for
individual clients, and in this case all fees will be pro-rated for the period through when the termination
date. Fees for individual accounts may be deducted from client accounts by the custodian or periodically
billed to clients.

Clients should note that the fees charged by GIA are separate and distinct from fees and expenses charged
by any Pooled Investment in which client’s assets are invested. As described in the offering documents for
such Pooled Investments, these fees generally include a management fee, other expenses, and in some cases,
a distribution fee and/or performance fee. In many cases, a client could invest in a Pooled Investment
without the services of GIA; however, in that event the client would not receive the value of GIA’s services,
which includes assistance in evaluating the opportunities offered by different investments. A client should
carefully evaluate the options most appropriate for the client’s financial condition and investment objectives
before engaging GIA. See “Brokerage Practices”, below.

Private Pooled Vehicle Advisory Services

Certain of the Funds pay GIA fees for providing its investment advisory services. In general, GIA
charges three of the Funds a flat annual investment management fee. The Funds may also incur fees and
expenses for professional services, administration services, brokerage and transaction changes, and other
miscellaneous expenses as outlined in the offering memorandum. These fees and expenses are allocated
to each investor’s capital account on a monthly basis as incurred.

ITEM 7: Types of Clients

Individualized Account Services

GIA provides individualized account services to ultra-high-net worth families with an average net worth of
over $200 million. Family assets may be titled to individuals, revocable and irrevocable trusts, family
limited partnerships and companies or other corporations, donor advised funds, and family foundations.
Each family in aggregate meets accredited investor and qualified purchaser status, but individual investing
entities may or may not meet those thresholds.

Private Pooled Investment Vehicles

As indicated above, GIA offers investment advisory services to several Funds. The investors in the Funds
are generally accredited investors, which may include high-net-worth individuals, trusts, endowments,
foundations, funds of funds or pension plans. The Funds are not accepting new investors and are in wind-
down stage.

Conditions for Managing accounts

There is no firm minimum asset size, but GIA family client relationships will typically be expected to have
a net worth of at least $30 to $50 million within a near term timeframe. This permits the Firm to assist in
many of the planning requirements and to develop investment and tax-efficient transfer opportunities as
wealth and liquidity are being created. Regardless of account size, GIA typically charges a minimum annual
fee. See Item 5: Fees and Compensation above.