Ironsides Asset Advisors LLC

Item 5 - Fees and Compensation

General Fee Information
Fees paid to us are exclusive of all custodial and transaction costs paid to your custodian, brokers or
other third-party consultants. Please see Item 12 - Brokerage Practices for additional
information. Fees paid to us are also separate and distinct from the fees and expenses charged by
mutual funds, ETFs (exchange traded funds) or other investment pools to their shareholders
(generally including a management fee and fund expenses, as described in each fund’s prospectus
or offering materials). You should review all fees charged by funds, brokers, Ironsides and others to
fully understand the total amount of fees paid by you for investment and financial-related services.

Financial Planning Fees
When we provide stand-alone financial planning services to clients, these fees are negotiated at the
time of the engagement for such services and are normally based on a fixed fee.

Portfolio Management Fees
The annual fee schedule, based on a percentage of assets under management, is as follows:

Portfolio Value                                    Annual Fee
Up to $10,000,000                                  0.85% flat fee
Account over $10,000,000                           0.70% flat fee

The minimum portfolio value is generally set at $5,000,000. The minimum annual fee for any
account is $42,500. We may, at our discretion, make exceptions to the foregoing or negotiate
special fee arrangements where we deem appropriate under the circumstances.

Portfolio management fees are generally payable quarterly, in arrears. Because some fees are
based on average daily portfolio values, these fees are, in essence, prorated for assets added to or
distributed from a portfolio during a quarter. If management begins or ends after the start of a
calendar quarter, we will prorate fees accordingly. With your authorization and unless other
arrangements are made, fees are normally debited directly from your account(s).

Either you or Ironsides may terminate your Investment Management Agreement at any time,
subject to any written notice requirements in the agreement. In the event of termination, any fees
due to us from you will be invoiced or deducted from your account prior to termination, at our
discretion.

Separate Account Manager Fees
When a Manager(s) is/are utilized, the Managers’ fees will be separate from, and in addition to, our
fee.

Wrap Programs Fees
Ironsides’ fees are charged separately from, and in addition to, Wrap Program fees.

General Consulting Fees
When we provide general consulting services to clients, these services are generally separate from
our financial planning and portfolio management services. Fees for general consulting are
negotiated at the time of the engagement for such services and are normally based on an hourly or
fixed fee basis.

Item 7 - Types of Clients

We serve individuals, corporations, trusts, estates, pension plans, and foundations, endowments
and other charitable organizations. With some exceptions, the minimum portfolio value eligible for

conventional investment advisory services is $5,000,000, and the annual minimum fee charged is
$42,500. Under certain circumstances and in our sole discretion, we may negotiate such
minimums.