Green Alpha Advisors LLC

Item 5: Fees and Compensation

   A. Green Alpha charges an investment management fee based on a percentage of assets under
      management, with that fee rate determined on a per-account basis for most custodial
      platforms and the majority of Green Alpha’s separately managed account client relationships.

Green Alpha Investments                                                                                          5

       All management fees are negotiated on a client-by-client basis, depending on such details as,
       but not limited to, type of client/account, account size, custodian or platform selected by the
       client, and service or reporting requirements. Please ask any member of Green Alpha’s team
       for details specific to your situation.

       For accounts that are opened directly with Green Alpha, the standard management fee
       schedules for each portfolio strategy are shown immediately below.

       Equity Portfolios

              The Next Economy Portfolio                                      AnthroIQ
                                   Annual Fee
        Account Assets                                     Account Assets                Annual Fee Rate
                                     Rate
        Up to $500,000               0.95%                 Up to $500,000                    1.00%
        $500,000 to $1,000,000       0.85%                 $500,000 to $1,000,000            0.90%
        $1,000,000 to                                      $1,000,000 to
                                     0.75%                                                   0.80%
        $10,000,000                                        $10,000,000
        Over $10,000,000             0.60%                 Over $10,000,000                  0.65%

                                                           Next Economy Growth & Income/Strategic
                Sierra Club Green Alpha
                                                                     Resilience Portfolio
                                   Annual Fee
        Account Assets                                     Account Assets                Annual Fee Rate
                                     Rate
        Up to $50,000                1.50%                 Up to $500,000                    1.50%
        $50,000 to $100,000          1.40%                 $500,000 to $1,000,000            1.25%
                                                           $1,000,000 to
        $100,000 to $500,000         1.30%                                                   0.95%
                                                           $10,000,000
        $500,000 to $1,000,000       1.20%                 Over $10,000,000                  0.75%
        $1,000,000 to
                                     1.00%
        $10,000,000

                   Next Economy Select

       Account Assets               Annual Fee Rate
       $1,000,000 to $10,000,000          0.55%
       Over $10,000,000                   0.35%

Green Alpha Investments                                                                                    6

       Fixed Income Portfolios

               Next Economy Fixed Income
       Account Size                Annual Fee Rate
       $500,000 to $5,000,000           0.30%
       $5,000,000 to $10,000,000        0.25%
       Over $10,000,000                 0.20%

       For accounts opened with Green Alpha when there is a wealth advisor, consultant, family
       office, or other professional investment intermediary performing client service and reporting
       duties, Green Alpha typically charges lower management fee rates than when clients request
       that Green Alpha manage the account directly for them. Standard management fee rates for
       each account opened through these relationships are shown immediately below. As is the
       case with all accounts opened with Green Alpha, management fees are negotiated on a client-
       by-client basis, depending on such details as, but not limited to, type of client/account,
       account size, custodian or platform selected by the client, and service or reporting
       requirements.

       Equity Portfolios

               The Next Economy Portfolio                                 AnthroIQ
       Account Assets              Annual Fee Rate     Account Assets                Annual Fee Rate
       $200,000 to $500,000             0.60%          $150,000 to $500,000              0.65%
       $500,000 to $1,000,000           0.50%          $500,000 to $1,000,000            0.55%
       $1,000,000 to $10,000,000        0.40%          $1,000,000 to $10,000,000         0.45%
       Over $10,000,000                 0.30%          Over $10,000,000                  0.35%

                                                        Next Economy Growth & Income/Strategic
                 Sierra Club Green Alpha                          Resilience Portfolio
       Account Assets              Annual Fee Rate     Account Assets                Annual Fee Rate
       $100,000 to $500,000             0.90%          $100,000 to $500,000              0.90%
       $500,000 to $1,000,000           0.80%          $500,000 to $1,000,000            0.80%
       $1,000,000 to $10,000,000        0.60%          $1,000,000 to $10,000,000         0.60%
       Over $10,000,000                 0.40%          Over $10,000,000                  0.40%

                  Next Economy Select
       Account Assets              Annual Fee Rate
       $1,000,000 to $10,000,000        0.55%
       Over $10,000,000                 0.35%

Green Alpha Investments                                                                                7

       Fixed Income Portfolios

               Next Economy Fixed Income
       Account Size                Annual Fee Rate
       $500,000 to $5,000,000          0.30%
       $5,000,000 to $10,000,000       0.25%
       Over $10,000,000                0.20%
...

Item 7: Types of Clients

Green Alpha currently provides and may provide investment advisory services to many types of
investors, including individuals, trusts, investment companies, pension, and profit-sharing plans,
estates, non-profit organizations, corporations, Taft-Hartley plans, municipalities, public funds, and
financial advisors. We generally require a minimum account size for our separately managed
accounts, although minimums do differ based on the custodial platform chosen by a wealth advisor,
consultant, or client. Our standard account minimums are disclosed in the chart below. Green Alpha
has discretion to modify account minimums, while some platform minimums may be materially lower
or higher than those stated here.

                                                                   Minimum
                                                 Equities/Fixed
                           Strategy Name                            Account
                                                    Income
                                                                        Size
                           Next Economy                           $1,000,000
                                                    Equities
                           Select
                           Next Economy Fixed                       $500,000
                                                 Fixed Income
                           Income
                           The Next Economy                         $200,000
                                                    Equities
                           Portfolio
                           AnthroIQ                 Equities        $150,000

Green Alpha Investments                                                                               9

                        Next Economy                                  $100,000
                        Growth &
                                                      Equities
                        Income/Strategic
                        Resilience Portfolio
                        Sierra Club Green                             $100,000
                                                      Equities
                        Alpha

Green Alpha advises at least one client account that is governed by the Employee Retirement Income
Security Act (“ERISA”). Although we manage all client accounts to a high fiduciary standard, Green
Alpha manages ERISA client assets consistent with the “prudent man rule,” exercises proxy voting
authority if not retained by a plan fiduciary, maintains any ERISA bonding that may be required, and
obtains written investment guidelines/policy statements, as appropriate.