Hilbert 8 LLC

Item 5: Fees and Compensation

A. Fee Schedule

Portfolio Management Fees For SMAs

                         Total Assets Under Management                      Annual Fees

                                  All Assets                              1.50% or lower

H8 uses the total value of the account as of the last business day of each quarterly billing period,
after taking into account deposits and withdrawals, for purposes of determining the market value
of the assets upon which the annualized advisory fee is based.

These fees are paid in quarterly arrears, they are generally negotiable based on the client’s total
assets under our IAC agreement, and the final fee schedule is attached as Schedule B of the
Investment Advisory Contract. H8 sends quarterly invoices to clients reflecting the fees due at the
end of each quarter. Clients may terminate the agreement without penalty for a full refund of any
H8's fees within five business days of signing the Investment Advisory Contract. Thereafter,
clients or H8 may terminate the Investment Advisory Contract immediately upon written notice,
including written electronic notice. Any fees paid in arrears on an SMA prior to receipt of the
client’s termination notice will not be refunded. If an SMA is terminated before the end of a
calendar quarter, the pro-rata fee calculated for the days elapsed may be billed.

Portfolio Management Fees for Private Fund
Hilbert 8 Multi-Strategy I, LP investors pay an annual fee of 2.00% of assets under management
payable quarterly in advance along with a 20.00% performance (or incentive) fee based on semi-
annual capital appreciation with a “high water mark.” So if the investor’s assets rise in value from
the investor’s purchase date, then that investor will pay 20.00% of the increase in value on their
invested capital, but if the investor’s assets drop in value, then that investor will not incur a new
performance fee until their assets recover to the last highest value, adjusted for withdrawals and
deposits, which is generally known as a high water mark.

© 2026 All Rights Reserved.        420 Lexington Avenue, Suite 1713, New York, NY 10170                      7

                                              HILBERT 8

B. Payment of Fees
Payment of SMA Portfolio Management Fees
Asset-based management fees for SMAs are withdrawn directly from the client's accounts
quarterly in arrears.

Performance-based management fees for SMAs are calculated monthly and withdrawn semi-
annually in arrears directly from the client’s accounts. The performance fee includes a high water
mark for each SMA investor, ensuring the H8 must first recover any investor losses before
charging a performance fee on new investor profits. Charging performance-based fees to one
SMA client and not others presents a conflict of interest in that H8 and/or its supervised persons
would have an incentive to favor accounts for which H8 has the potential to receive a
performance-based fee. On the other hand, investors in SMAs paying a performance-based fee
should be aware that H8 would have an incentive to invest in riskier investments due to the higher
risk, higher reward attributes associated with a performance-based fee account. H8 addresses
these conflicts by ensuring that clients are not systematically advantaged or disadvantaged due
to the presence or absence of performance-based fees. H8 seeks best execution and upholds its
fiduciary duty for all clients.

Payment of Private Fund Portfolio Management Fees
Asset-based management fees for the fund are withdrawn directly from the fund's account
quarterly in advance. Performance-based fees for the fund, which are subject to the high water
mark, are withdrawn directly from the fund’s account semi-annually in arrears.
H8 may receive more compensation from recommending investments in the fund compared to
recommending SMAs. This difference in compensation presents a potential conflict of interest.
However, H8 is committed to acting in the best interest of its clients, and investments in the fund
are optional. Clients are under no obligation to invest in the Fund and may choose to maintain
their existing SMA portfolios without pressure to take on additional risk. All investment
recommendations are made based on the client's suitability, goals, and risk tolerance.

Investors in the fund paying performance-based fees should be aware that H8 may have an
incentive to invest in riskier, higher-reward strategies due to the nature of performance-based
fees. These fees may incentivize H8 to take on higher risks in pursuit of higher returns. Clients
are encouraged to fully understand the risks associated with the fund, especially as it involves a
higher-risk, higher-reward strategy, including options trading.

H8 strives to mitigate any conflicts by ensuring that all investment recommendations are made in
the best interests of the client. The firm upholds its fiduciary duty and seeks best execution for all
clients, regardless of fee structure or investment type.

C. Client Responsibility For Third Party Fees
SMA clients are responsible for the payment of all third party fees (e.g., custodian fees, brokerage
fees, mutual fund fees, transaction fees, etc.). Those fees are separate and distinct from the fees
and expenses charged by H8. Please see Item 12 of this brochure regarding broker-
dealer/custodian for more information.

© 2026 All Rights Reserved.     420 Lexington Avenue, Suite 1713, New York, NY 10170                8

                                              HILBERT 8

Third party fees for the private fund are set forth in the fund documents (e.g., private placement
memorandum, limited partnership agreement, etc.).

D. Prepayment of Fees
H8 collects its annualized SMA management fees and the private fund’s performance fee in
arrears. The management fees for our fund are collected in advance and the policy for refunds,
as applicable, is set forth in the fund documents.
...

Item 7: Types of Clients

H8 generally provides advisory services to the following types of clients:

    §    High-Net-Worth Individuals (through SMAs)
    §    Pooled Investment Vehicles (through the private fund)

There is an account minimum of $1,000,000 for SMAs, while there is generally a minimum
investment commitment of $500,000 for investors in the private fund. These minimums may be
waived by H8 at its discretion.