Hamilton Point Investment Advisors LLC

Item 5 – Fees and Compensation

5. A. Advisor Compensation

Hamilton Point offers its fee-only advisory services based upon assets under management. Hamilton
Point’s fees are described generally below and detailed in each client’s advisory agreement. Hamilton Point
may group multiple accounts of a client (or group of related clients) together for fee billing purposes. Fees
may change over time and, as discussed below, different fee schedules may apply to different types of
clients, strategies and advisory arrangements.

Fee Schedules

Hamilton Point’s annual management fee typically varies between 0.50% and 1.00% depending upon the
market value of the assets under management.

Hamilton Point’s annual fee schedule for separate account clients is as follows:

PORTFOLIO VALUE                                           BASE FEE
For Portfolios of $5,000,000 or less:
      First $1,000,000                                    1.00%
      Next $4,000,000                                     0.75%
For Portfolios greater than $5,000,000
      Up to $20,000,000                                   0.60%
      Greater than $20,000,000                            0.50%
Although Hamilton Point has established the fee schedule above, Advisor retains the discretion to negotiate
or waive certain fees on a client-by-client basis. Client facts, circumstances and needs are considered in
determining a negotiated fee schedule. The specific annual fee schedule is identified in the agreement
between Hamilton Point and each client.

Independent Managers
Hamilton Point may allocate a portion of a client’s investment portfolio to one or more Independent
Managers who offer specialized strategies when appropriate and at the client’s direction. Independent
Managers will charge their own management fees in addition to a fee paid directly to Hamilton Point from
the client annually from these accounts. Hamilton Point’s fees will not exceed the maximum fee indicated
above.

5. B. Direct Billing of Advisory Fees

Hamilton Point’s agreement with the client may authorize Hamilton Point to not only invoice the Custodian
for the Advisory Fee but also may authorize the Custodian to deduct the Advisory Fee from the client’s
account and remit to Hamilton Point. In instances where a client has authorized this billing method, the
client agreement also authorizes the Custodian to send client statements, at least quarterly, indicating all
amounts disbursed from the client account including the Advisory Fee paid from the client’s account.
Clients may request to be billed by invoice to make a direct payment for fees and Hamilton Point will
consider accommodating such requests.

5. C. Other Non-Advisory Fees

Hamilton Point’s advisory fee is exclusive of brokerage commissions, transaction fees, and other related
costs and expenses which shall be incurred by the client. Clients may incur certain charges imposed by
custodians, brokers and other third parties such as fees charged by managers, custodial fees, 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. A client’s portfolio may include positions in mutual
funds or exchange traded funds which also charge internal management fees, which are disclosed in those
funds’ prospectuses. Hamilton Point does not receive any portion of these commissions, fees, and costs.

Clients are advised that if securities transferred into the client’s account are sold, there may be transaction
costs, fees assessed at the mutual fund level (i.e., contingent deferred sales charge), and/or potential tax
ramifications. Hamilton Point does not provide tax advice as part of its advisory services and is not
qualified to do so. Clients are encouraged to consult a qualified tax adviser regarding tax matters.

Item 12 further describes the factors that Hamilton Point considers in selecting or recommending broker-
dealers for client transactions and determining the reasonableness of their compensation (e.g.,
commissions).

5. D. Advance Payment of Fees

Advisory fees for Hamilton Point are billed quarterly in advance and are payable upon receipt, commencing
upon opening of the account. Fees are based on the level of total assets under management, including cash,
securities, and accrued income, as of the last business day of the prior calendar quarter. Thus, the more
assets there are in your advisory account, the more you will typically pay in fees, though the applicable rate may
decline as assets grow. This incentivizes us to encourage you to increase the assets in your account. Depending
upon the timing of the account opening, the fees may be calculated on a pro rata basis. Following the initial
period, for deposits or withdrawals that exceed $1,000,000 after the inception of a quarter, fees on those amounts
will be prorated based on the number of days remaining in the quarter. For partial withdrawals in excess of
$1,000,000 within a billing period, Hamilton Point will credit any unearned fee on those amounts toward the next
quarter’s fee.

An advisory agreement may be terminated according to the terms of the agreement and by written notice
by either party. Upon termination, fees will be prorated to the date of termination. If any fees are prepaid,
unearned fees will be promptly refunded.

5. E. No Compensation for Sale of Securities or Other Investment Products

Hamilton Point’s supervised persons do not accept compensation for the sale of securities or other
investment products, including asset-based sales charges or service fees from the sale of mutual funds.

Item 7 – Types of Clients

Hamilton Point provides investment advice on a discretionary basis to individuals, pension and profit
sharing plans, trusts, estates, charitable organizations, corporations and other business entities.

Hamilton Point generally requires that new client relationships exceed, or have the potential over a
reasonable period of time, to exceed a minimum of $1,000,000 in assets under management. Hamilton
Point reserves the right to reduce the minimum requirement for certain accounts under certain
circumstances. Hamilton Point will only consider an account below the minimum if the client still meets
certain suitability criteria. Hamilton Point may aggregate accounts of related entities or family members to
meet the minimum account size.