Ironvine Capital Partners LLC

ITEM 5 - FEES AND COMPENSATION
Fees are subject to break points as shown below based on a client’s AUM with Ironvine. Ironvine
Fees are separate and distinct from fees and expense charged by mutual funds, ETFs, or other
securities, administrator fees, custodian fees, brokerage commissions, transaction fees, service

provider fees, and other related costs and expenses which are incurred by the client. A description
of mutual fund or ETF fees and expenses are available in each fund’s prospectus.

See “Item 12 Brokerage Practices” of this brochure for more information. Fees are assessed pro
rata in the event funds move in or out of client accounts within billing periods. To calculate
advisory fees, we rely on prices from third-party pricing services provided by our custodian(s).
Fees are assessed on all assets under management, including cash and marketable securities. At
our discretion, we may waive certain fees and / or aggregate assets from the same household to
determine the advisory fee. We may also choose to enter into a negotiated fee structure that is
different from the below.

Ironvine charges clients an annual management fee. Fees are paid quarterly, in advance, based on
the value of the client’s assets under management (AUM) as of the last day of the previous quarter.

The following fee schedule applies to accounts:

              < $10 million:   1.00%
              $10 million:     0.90%
              $25 million:     0.80%
              $50 million:     0.70%
              $100 million:    0.60%

Our primary objective is for clients to invest in our proprietary Ironvine Strategies. Our firm’s
owners and employees are invested alongside clients in these strategies and we engage in
transactions that are substantially the same as those made for client accounts. At times, we may
invest client assets in flexible strategies outside of the Ironvine Strategies.

Generally speaking, clients provide written authorization permitting management fees to be paid
directly from their accounts held at a qualified custodian. The independent qualified custodian
holding your funds and securities will debit your account directly for the advisory fee and pay that
fee to us. Further, the qualified custodian agrees to deliver an account statement at least quarterly
directly to you indicating all the amounts deducted from the account including our advisory fees.
In limited circumstances, we may bill you directly for our management fee.

Either Ironvine or you may terminate your agreement, upon written notice to the other party. The
fee will be pro-rated to the date of termination, for the month in which the cancellation notice was
given, and prepaid fees will be refunded. Upon termination, you are responsible for monitoring the
securities in your account, and we will have no further obligation to act or advise with respect to
those assets.

ITEM 7 - TYPES OF CLIENTS

Ironvine provides investment advisory and portfolio management services primarily to family
offices, endowments, foundations, charitable organizations, high net worth individuals, qualified
plans, individuals, trusts, estates, and corporations or other businesses.

As a general rule, we require a minimum account size of $250,000. We may waive or increase
account minimums at our sole discretion.