Jordan Park Group LLC

ITEM 5. FEES AND COMPENSATION

Generally, clients will pay Jordan Park an annual percentage fee based on the value of the
Managed Assets in the client’s Portfolio. Clients will also bear underlying investment costs and,
depending on the investments and services selected, fees and expenses charged by other
financial institutions and third parties, such as sub-advisors, other expenses charged by Jordan
Park and/or its affiliates, and fees and expenses of JP Funds including, as applicable, fund
management fees, performance-based incentive compensation (“Incentive Fees”), and fund
accounting and operations fees. Detailed information about Jordan Park’s compensation
structure and other costs, fees and expenses a client may incur is provided below. Clients may
request additional information at any time as to their client-specific costs, fees and expenses.

Investment Advisory Fees. In exchange for its investment and financial advisory services, the
Firm typically charges a tiered annual percentage fee based on the total value of a client’s
Managed Assets, and the blended annual percentage fee typically ranges from 0.30% to 0.75%
(“Advisory Fee”). The Advisory Fee rate is generally lower for clients with higher amounts of
assets under management and certain charitable organizations but can be higher if additional
family office services are, or are expected to be, provided by Jordan Park. In addition, Jordan
Park negotiates Advisory Fees with certain clients based on factors unique to them, including a
client’s needs, nature and complexity of the services to be performed, and the size and types of
assets. This may result in these clients paying higher or lower Advisory Fees than clients with
similar Managed Assets. Advisory Fees charged by Jordan Park are detailed in each Client
Agreement. Jordan Park waives all Advisory Fees for its employees and their respective family
members who enter into a Client Agreement with Jordan Park for investment advisory services.

JP Funds Fees and Expenses. Typically, each JP Fund is charged a management fee, paid to
Jordan Park, as outlined in the governing documents of the JP Fund. In addition, as described
in more detail in Item 6, certain JP Funds incur an Incentive Fee payable to Jordan Park.

All investors in JP Funds (“JP Fund Investors”) are responsible for their share of the costs,
expenses, and liabilities relating to their investment in the JP Funds, as authorized under the
governing documents of the JP Funds. This includes a pro-rata portion of any fees and expenses
charged or borne by the JP Funds, such as management fees and Incentive Fees, fees and
expenses of the underlying investments of the JP Funds, as well as expenses incurred in
connection with the organization, offering, operation, administration, regulation, taxation,
dissolution, liquidation, and termination of such JP Funds; and expenses related to the research,
evaluation, due diligence, negotiation, consummation, management, valuation and disposition

of investments and investment-related travel expenses (including, as applicable, those
expenses that relate to investments that are not consummated) of such JP Funds. Certain JP
Funds charge a fund accounting and operations fee, details about which are described in the
fund documents.

With respect to certain JP Funds, Jordan Park has agreed to waive 50% to 70% of the fund
management fees for investors who are clients that pay Jordan Park Advisory Fees, depending
on the JP Fund. In other words, clients pay less than the standard fund management fee to these
JP Funds, and a client’s Advisory Fee applied to the Managed Assets includes the value of the
investments in these and other JP Funds as determined according to the governing documents
of the JP Funds. Under arrangements already in place with clients invested in legacy closed-end
JP Funds established prior to 2024, or if otherwise agreed with a client or investor, Jordan Park
is waiving 100% of the JP Fund management fees. If the advisory relationship between a client
and Jordan Park ends and a client is no longer paying an Advisory Fee, unless Jordan Park
agrees to a different arrangement, the client will begin paying 100% of the fund management
fees otherwise chargeable by the applicable JP Fund(s) if they remain an investor in a JP Fund.

The Incentive Fee is generally not waived for clients and is in addition to the Advisory Fee, fund
management fees, and all other fees, costs and expenses, as applicable; although certain JP
Funds may have a higher Incentive Fee for clients not paying an Advisory Fee, which will be
described in the fund governing documents. In some cases, the Incentive Fee is earned only
after a performance hurdle or preferred return is achieved, while some JP Funds have no
performance hurdle or preferred return. The Firm does not earn Incentive Fees on Managed
Assets that are not invested in the JP Funds. Jordan Park waives all fund management fees,
Incentive Fees, and fund accounting and operations fees for its employees and their respective
family members who invest in JP Funds.

Underlying Investment Fees and Expenses of Financial Institutions and Other Third Parties.
Managed Assets also bear the economic effect of any fees (including management and, if
applicable, Incentive Fees of third-party sub-advisors and managers) and expenses (including
brokerage fees and/or commissions, trading fees and expenses, shareholder fees, private fund
expenses, currency hedging costs, interest expenses, custodial fees, bank charges,
commitment fees and other fees and amounts payable in connection with borrowing) of the
Portfolio’s underlying investments, including investments made by the JP Funds, if any. Such
fees and expenses are associated with a variety of investments, including publicly traded
securities, such as stocks and ETFs, mutual funds (including money market funds), and other
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ITEM 7. TYPES OF CLIENTS

Jordan Park’s clients include high net worth individuals and their families and related entities,
such as trusts and business entities (e.g., limited liability companies and family limited
partnerships), as well as charitable organizations, foundations, donor-advised funds, and other
institutional clients. Jordan Park also manages the JP Funds in which clients and other investors
invest.

The Firm generally provides investment advisory services to clients with assets under
management exceeding $25 million, with many of our clients exceeding $100 million or more.
Upon a client’s request, and as accepted by Jordan Park at its sole discretion, assets under
management of related parties (e.g., family members) may be associated or linked together for

purposes of meeting the asset amount. We also have a select number of client relationships that
are limited to family office services and do not include investment advisory services.

To invest in the JP Funds or certain pooled investment vehicles managed by third parties, clients
must be sophisticated in financial matters, “accredited investors” within the meaning of
Regulation D under the Securities Act of 1933, as amended, and “qualified purchasers” under
the Investment Company Act of 1940, as amended (“Investment Company Act “), and the
regulations thereunder.