Humankind Investments LLC

Item 05 – Fees and Compensation
Humankind’s fees for providing discretionary investment management services are based upon a
percentage of the market value of assets under management.

Separately Managed Accounts:

In connection with Separately Managed Accounts, we generally charge a 1% annual fee based on assets
under management. Humankind uses an average of the daily balance in the client’s account during the
billing period to determine the value of the assets upon which the advisory fee is based. Fees are paid in
arrears, and with the client’s permission, are withdrawn directly from clients’ accounts on a quarterly basis.
Otherwise, fees are invoiced separately. In connection with Separately Managed Accounts, clients may incur
certain charges, expenses, and management fees imposed by custodians, brokers, or other third-party funds
and managers. Such charges, fees, and commissions are exclusive of and in addition to our fee, and we shall
not receive any portion of these commissions, fees, and costs.

Certain individual employees of Humankind may be compensated in part based on the fees collected from
the strategy accounts, including Separately Managed Accounts. These fee and compensation arrangements
create conflicts of interest, giving Humankind and/or its employees an incentive to recommend advisory
services based on the higher compensation or fees received, rather than on the client's needs.

Humankind Portfolios Wrap Fee Program:

The Humankind Portfolios Wrap Fee Program is a “wrap account,” meaning it is an investment account in
which certain expenses, including brokerage commissions (if any), management fees and certain fees (e.g.,
custody, FINRA Trading Activity Fee and SEC fees) charged by Apex are “wrapped” into one charge.
Humankind is typically compensated for its advisory services by charging an annual wrap account fee of
0.25% of the client’s Total Account Balance. Humankind’s asset-based wrap fee is calculated based on
client’s Total Account Balance as of the close of each calendar day, accrued daily, and typically assessed as
of the last day of each month, with the fee subsequently being deducted from the client’s account. “Total
Account Balance” is the combined account balance of a client’s Humankind accounts in a “Household” (as
that term is defined in the Client Agreement for the Program).

Apex may charge clients for certain services related to client accounts. Humankind will pass through the
amount of any charges for such client-initiated services that are imposed by Apex. Apex reserves the right
to change the pricing for all these services at its discretion.

Humankind Constructed Portfolios are composed of publicly traded exchange-traded funds. All fees paid
to Humankind for investment advisory services are separate and distinct from the fees and expenses
charged by the ETFs purchased for client portfolios. Therefore, clients will pay the fees of the underlying
ETFs held in their account. These fees and expenses are described in each ETF’s prospectus, which are
accessible through the Humankind Portfolios interface. These ETF fees are generally composed of a
management fee and other ETF expenses. Humankind does not earn or receive a portion of such ETF fees.
For more information, please see the Humankind Portfolios Wrap Fee Brochure.

See Item 12 of this Brochure for additional information regarding Humankind’s brokerage practices.

Item 07 – Types of Clients
Clients
We provide investment advice to individuals, high net worth individual clients who control their wealth
directly and institutions such as trusts, endowments, pension plans, etc. where control is in the hands of
one or more fiduciaries.

Separately Managed Accounts
Our minimum account size for Separately Managed Accounts is $100,000. We will make exceptions to these
minimums in cases where there is a reasonable expectation that these minimums will be met in the future
or if the accounts are part of a group such as a family group.