Innovest Portfolio Solutions LLC

Item 5 - Fees and Compensation

Innovest is compensated on a fee-only basis. Innovest receives no compensation from any
source other than the fees paid to it by its clients.

Innovest fees for clients are custom and are dependent on the amount of work involved and any
client-specific consulting needs. Fees can be either a percentage of assets or a fixed fee. Fees
are generally payable in advance at the beginning of each calendar quarter. A client can choose
to have fees deducted from assets under advisement or billed on a quarterly basis. Fees for an
account opened during the calendar quarter are prorated to reflect the amount of time Innovest
provides services.

Either party may terminate the consulting agreement upon thirty (30) days written notice. If the
agreement is terminated, the client will be refunded for pre-paid fees based on the termination
notice period and actual services provided during the billing period.

Innovest’s consulting fees do not include investment management fees, custody fees,
transaction costs, retirement plan administrator costs or any fees charged by other service
providers. In its role as a fiduciary, Innovest uses its knowledge of and presence in the
marketplace to work diligently to identify and negotiate to obtain the best services, at a
reasonable cost, from third party service providers.

Item 7 - Types of Clients

Innovest provides investment consulting services primarily to retirement plans, foundations and
endowments, nonprofit organizations and high net worth individuals and families.