Highbury Pacific Capital Corp

ITEM 5 - FEES AND COMPENSATION
Fee Schedule & Billing Method

Investment Management Services
Highbury Pacific charges advisory fees for investment management services. Currently, Highbury
Pacific’s only client is a “qualified purchaser” as defined in the Investment Company Act of 1940.
Highbury Pacific’s advisory fees are outlined in the client’s Investment Management Agreement.
Generally, the management fees are a percentage of the assets under management. For the portion of
our fee that is based on a percentage of assets under management we send an invoice at each month
end, which is payable monthly in arrears.

Other Fees and Expenses
Highbury Pacific also earns a fixed fee for services related to accounting and financial reporting,
portfolio reporting and reconciliation. For the fixed portion of our fee we send an invoice at the
beginning of each quarter, which is payable in advance.

Highbury Pacific’s fees do not include custodian fees or the fees charged by External Investment
Managers. The client pays all brokerage commissions, withholding taxes where applicable, stock transfer
fees, and/or other similar charges incurred in connection with transactions in accounts, from the assets
in the account. The client’s account may hold various investment vehicles such as mutual funds and
exchange-traded funds (collectively “Investment Vehicles”). The client is responsible for the fees in
connection with all Investment Vehicles held. Foreign securities transactions may result in additional
charges such as foreign settlement costs, account movement charges, and foreign exchange fees. These
charges are in addition to the fees the client pays to Highbury Pacific.

Highbury Pacific Capital Corp. Brochure             6                              Revised, January 30, 2026

The client is responsible for reasonable travel and related expenses associated with the performance of
our duties. If we incur these costs we do so as agent for the client and we believe this to be customary
in the industry. We will be reimbursed as outlined in the client’s Investment Management Agreement.

Termination

Investment Management Services
Either party may terminate the agreement upon thirty (30) days written notice to the other party. The
client may terminate the agreement by writing to Highbury Pacific at our office. Upon termination of the
agreement, any earned, unpaid advisory fees and unreimbursed expenses will be due and payable. Any
prepaid advisory fees that are paid in advance will be refunded to the client. Highbury Pacific will send
our client an invoice showing the advisory fees due for services rendered and not yet paid.

Other Compensation
Highbury Pacific does not accept compensation for the sale of securities or other investment products.

ITEM 7 - TYPES OF CLIENTS
Highbury Pacific currently provides investment advisory services to a single investment holding
company.