Hatch Cove Capital LLC

Item 5 – Fees and Compensation
Investment Advisory Fees
Hatch Cove’s standard investment advisory fee structures, which are based on a percentage of
assets under management, are as follows:

   •   0.50% - 1.00% of assets per year

Hatch Cove may negotiate a non-standard investment advisory fee with a Client, at its discretion,
in consideration of the nature of services rendered, special requirements of the account (such as
particular regulatory, compliance, or other requirements) or other factors (such as sub-advisory
relationship, potential size, product life-cycle or cross-over business). Hatch Cove may manage
Client accounts without an advisory fee, such as accounts of principals and their relations. The
specific advisory fee structure for each Client is established as part of the Investment Advisory
Agreement between Hatch Cove and the Client. For discretionary Clients that transfer assets in-
kind, if Hatch Cove chooses to keep assets brought in-kind, these assets are included in the fee
calculation.

Billing Practices

Hatch Cove will invoice fees in arrears on a calendar quarterly basis for the SMA and sub-advised
Clients. The specific manner in which fees are calculated is established in the Client's Advisory
Agreement. Typically, fees are calculated using end of period assets and prorated for both actual
numbers of days in a quarter, and for each significant capital contribution or withdrawal. However,
SMA Clients may define any other reasonable methodology for such calculations in the Advisory
Agreement.

Other Expenses
Any investment advisory fees invoiced by Hatch Cove to Clients are for investment advisory
services and do not include brokerage and other transactions costs, custodial charges, and fees and
expenses charged by underlying funds, such as mutual funds and exchange traded funds. Clients
should be aware that mutual funds and exchange traded funds charge their own management fees
and costs that are disclosed in their respective fund’s prospectus. Hatch Cove does not receive any
portion of these fees and costs.

Additional Compensation
Hatch Cove does not invest Client assets in mutual funds that levy a sales charge (commonly called
"load"). As such, Hatch Cove does not receive any compensation from mutual funds for
recommending or investing in them.

Item 7 – Types of Clients
Hatch Cove will provide portfolio management and investment advisory services primarily to
SMAs which in some cases may include high net worth individuals, trusts, estates, and institutional
Clients such as corporate and public employee pension and profit-sharing plans, foundations,
charitable organizations, and corporations. Additionally, Hatch Cove sometimes acts as a sub-
advisor to other investment advisors for these types of Clients mentioned above.

The Advisor’s minimum investment size is $25 million for any SMA. However, Hatch Cove may,
to the extent permitted under applicable law, reduce the minimum account size requirement at its
sole discretion.

Item 8 – Method of Analysis, Investment Strategies and Risk of Loss
Investment Strategies and Method of Analysis
Global Real Assets Strategy

The Hatch Cove Global Real Assets Strategy seeks long-term capital appreciation through
investments primarily in real assets and securities of companies that are engaged in activities
related to real assets. Real assets are defined as investments with substantial asset backing and
physical properties, such as natural resources, natural resource-related companies, real estate,
infrastructure, and utilities, among others, and including companies that supply or manage these
sectors. The strategy invests primarily in assets that are traded on established global exchanges,
including equities, exchange traded funds (ETFs), exchange traded notes (ETNs), closed-end
funds and Treasury Inflation Protected Securities (TIPS).

Investment Process

The Firm employs an integrated and iterative investment process to determine specific
investments and sector exposures, focusing on fundamental company and investment analyses
combined with an understanding of industry, macro, and risk factors:
   •   Company Analysis - We conduct fundamental security analysis through the use of
       company financials, third-party research reports, and a variety of other resources to
       understand the fundamental drivers of an investment’s potential and estimate relative
       valuation.
   •   Industry Analysis - An understanding of industry dynamics and potential risk/reward
       inform both investment outlook and subsequent industry weights. Supply/demand
       analysis is particularly critical in determining the balance of risk in commodity sectors.
   •   Macro Analysis - While we do not seek to forecast specific economic factors, we do pay
       close attention to where the balance of risk lies in terms of growth and inflation, among
       other factors, and the overall risk environment in the market.
   •   Risk Analysis - A healthy understanding of the potential risks that companies face is
       imperative in a rapidly changing investment environment. Geopolitical, political,
       regulatory, social, environmental, etc. risks are increasing and need to be actively
       managed. Minimizing potential risks, all else equal, protects capital.
   •   Theme Analysis - Identification of major global investment themes and analysis of how
       to incorporate identified themes into the portfolio by stock and sector selection.
Risk of Loss
Investing in securities involves risk of loss that Clients should be prepared to bear. Investing in
equity-oriented securities, such as stocks, ADRs, exchange traded vehicles (ETVs) and equity-
oriented mutual funds, exposes Client accounts to the risk of a broad market decline as well as
risks related to poor security or sector selection by the advisor managing the account or the

underlying funds. In particular, small capitalization stocks have the additional risks of being more
volatile and less liquid.

Limited Operating History

Hatch Cove was formed in October 2022 for the purpose of engaging in the activities set forth in
this Brochure. Although the Principal and the investment professionals at Hatch Cove have many
years of combined professional investment experience, the Firm itself has a limited history of
operations and, accordingly, has a limited performance history to which a potential Client of the
Firm may refer in determining whether to enter into an investment management agreement or
invest with the Firm.

Nature of Investments

Hatch Cove has broad discretion in making investments for its Clients. Investments generally
consist of long positions in equities, ETFs, ETNs and other assets that may be affected by business,
financial, market, or legal uncertainties. There can be no assurance that Hatch Cove correctly
evaluates the nature and magnitude of the various factors that could affect the value of and return
on investments. Prices of investments may be volatile and a variety of factors that are inherently
difficult to predict, such as domestic or international economic and political developments, may
significantly affect the results of the Firm’s investment activities and the value of our investments.
No guarantee or representation is made that the Firm’s investment objectives will be achieved.

Equity-Related Securities in General

In advising our Clients, Hatch Cove will invest in equity securities and equity-related instruments.
Equity securities represent ownership interests in their respective issuers and generally carry the
most risk associated with a specific issuer’s capital structure. The price of equity securities and
their related financial instruments vary for a variety of reasons, including but not limited to the
supply and demand of the equity securities, the actual or perceived business opportunities
associated with the issuer, the current and potential future cash flow of the issuer, the issuer’s
management, their ability to execute on a specific business plan, the general economic
environment, and the outlook for the overall economy. Any investment in equities or equity-related
instruments entails a significant risk of loss.

Market Risk
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