Inkwell Capital LLC

5. Fees and Compensation
Portfolio Management Services
Inkwell is compensated by its clients as a percentage of the assets under Inkwell's management.
On an annual basis, these fees are:
        1.0% of the first           $1.0 million
        0.8% of the next            $1.5 million
        0.7% of anything above      $2.5 million

Fees are assessed on a calendar quarterly basis in arrears, as opposed to in advance. For example,
for the calendar quarter beginning April 1 and ending June 30, Inkwell's fee for that quarter will
be assessed on June 30 and will be based on the amount of assets as of June 30. Quarterly fees
are rounded to the nearest whole dollar.

Example                                 ____________Quarter Ending____________
                                        3/31/26    6/30/26    9/30/26   12/31/26
Account Value:                       $1,750,000 $2,300,000 $2,600,000 $2,250,000
                                                                                                       Total - 2026
1.0% Fee:                                  $2,500         $2,500          $2,500         $2,500            $10,000
0.8% Fee:                                  $1,500         $2,600          $3,000         $2,500             $9,600
0.7% Fee:                                      $0             $0            $175             $0                $175
Total Inkwell Fee:                         $4,000         $5,100          $5,675         $5,000            $19,775

Normally, fees are automatically deducted from each client account by the client's custodian.
However, a client may choose to pay Inkwell's fees directly. In this case, Inkwell will send an
invoice to the client shortly after the close of each calendar quarter, for which the client will then
send payment directly to Inkwell. In either case, Inkwell's fees are negotiable.

Neither Inkwell nor any of its employees accept compensation—cash or non-cash—for the sale
of securities or other investment products such as mutual funds, annuities, or insurance.

Inkwell's fees are not the only fees which clients may incur in the management of their
investment portfolio. It is possible that a client's custodian may charge a fee for the service of
custodying the client's assets. Also, a client will pay brokerage commissions for each purchase
and sale of a security in the client's account. If Inkwell directs the purchase of a mutual fund in a
client account, the mutual fund will also charge a management fee of its own. There are other
possible fees a client may incur, but those are the major ones. For further discussion of securities
brokerage, see Item 12 ("Brokerage Practices") of this document. Finally, depending on the
taxable situation of the account, a client may be responsible for paying capital gains taxes on the
sale of some securities.

                  INKWELL CAPITAL LLC                                                                     Page 4 of 17

Florida:            12365 SW 123 Avenue ● Miami, FL 33186 ● (305) 791-3195        Most Recent Revision: March 25, 2026
North Carolina:     285 Hollabrook Parkway ● Mills River, NC 28759 ● (828) 585-4845           www.inkwellcapital.com

Sub-Advisory Services
Inkwell’s fees for sub-advisory services are negotiated directly with the independent registered
investment adviser. These fees are described in the agreement between Inkwell and the Adviser,
a copy of which is furnished to each sub-advisory client at the beginning of the relationship.

7. Types of Clients
Inkwell's primary clients are individuals and institutions, including corporations and trusts. We
may also be engaged by others such as retirement plans, estates, or charitable foundations.

The minimum account size with which a new client may retain Inkwell's services is $250,000.