Kailix Advisors LLC

Item 5 – Fees and Compensation

The following paragraphs detail the fee structure and compensation methodology for services provided by the
Advisor. Each Client engaging the Advisor for services described herein shall be required to enter into a written
agreement with the Advisor.

                                                    Kailix Advisors LLC
                                      2980 NE 207th Street Suite 300 Aventura, FL 33180
                                                   Phone: (305) 897-0252

A. Fees for Advisory Services
Investment Management/Sub-Advisory Services
Investment advisory fees are paid quarterly, in advance of each calendar quarter, pursuant to the terms of the
investment advisory agreement. Investment advisory fees are billed at an annual rate of up to 2.00% and are based
on the market value of assets under management at the end of the prior calendar quarter. “Qualified Clients”, as
described in Item 6 below are also charged an annual performance fee, if applicable. Please see Item 6.

Fees are based on several factors, including: the complexity of the services to be provided, the level of assets to be
managed, and the overall relationship with the Advisor. The Advisor requires a $5,000,000 minimum for new
investors, subject to the Advisor’s discretion. Relationships with multiple objectives, specific reporting requirements,
portfolio restrictions and other complexities may be charged a higher fee. All securities held in accounts managed
by Kailix will be independently valued by the Custodian. The Advisor will conduct periodic reviews of the
Custodian’s valuation to ensure accurate billing.

The investment advisory fee in the first quarter of service is prorated from the inception date of the account[s] to the
end of the first quarter. Fees may be negotiable at the sole discretion of the Advisor. Certain Clients may be offered
a fixed fee not to exceed the annual rate above. The Client’s fees will take into consideration the aggregate assets
under management with the Advisor. All securities held in accounts managed by Kailix will be independently valued
by the Custodian. Kailix will conduct periodic reviews of the Custodian’s valuations.

The Advisor’s fee is exclusive of, and in addition to, brokerage fees, transaction fees, and other related costs and
expenses, which may be incurred by the Client. However, the Advisor shall not receive any portion of these
commissions, fees, and costs.

B. Fee Billing
Investment Management/Sub-Advisory Services
Investment advisory fees are calculated by the Advisor or its delegate and deducted from the Client’s account[s] at
the Custodian. The Advisor shall send an invoice to the Custodian indicating the amount of the fees to be deducted
from the Client’s account[s] at the respective quarter-end date. The amount due is calculated by applying the
quarterly rate (annual rate divided by 4) to the total assets under management with Kailix at the end of the prior
quarter. Clients will be provided with a statement, at least quarterly, from the Custodian reflecting deduction of the
investment advisory fee. In addition, the Advisor will provide the Client a report itemizing the fee, including the
calculation period covered by the fee, the account value and the methodology used to calculate the fee. Clients are
urged to also review and compare the statement provided by the Advisor to the brokerage statement from the
Custodian, as the Custodian does not perform a verification of fees. Clients provide written authorization permitting
advisory fees to be deducted by Kailix to be paid directly from their account[s] held by the Custodian as part of the
investment advisory agreement and separate account forms provided by the Custodian.

C. Other Fees and Expenses
Clients may incur certain fees or charges imposed by third parties, other than Kailix, in connection with
investments made on behalf of the Client’s account[s]. The Client is responsible for all custody and securities
execution fees charged by the Custodian. The fees charged by Kailix are separate and distinct from these
custody and execution fees.

In addition, all fees paid to Kailix for investment advisory services are separate and distinct from the expenses
charged by mutual funds and ETFs to their shareholders, if applicable. These fees and expenses are described
in each fund’s prospectus. These fees and expenses will generally be used to pay management fees for the
funds, other fund expenses, account administration (e.g., custody, brokerage and account reporting), and a
possible distribution fee. A Client may be able to invest in these products directly, without the services of Kailix,
but would not receive the services provided by Kailix which are designed, among other things, to assist the Client
in determining which products or services are most appropriate for each Client’s financial situation and
objectives. Accordingly, the Client should review both the fees charged by the fund[s] and the fees charged by
Kailix to fully understand the total fees to be paid. Please refer to Item 12 – Brokerage Practices for additional
information.
                                                    Kailix Advisors LLC
                                      2980 NE 207th Street Suite 300 Aventura, FL 33180
                                                   Phone: (305) 897-0252

D. Advance Payment of Fees and Termination
Investment Management/Sub-Advisory Services
Kailix may be compensated for its investment advisory services in advance of the quarter in which services are
rendered. Either party may terminate the investment advisory agreement, at any time, by providing advance written
notice to the other party. The Client may also terminate the investment advisory agreement within five (5) business
days of signing the Advisor’s agreement at no cost to the Client. After the five-day period, the Client will incur
...

Item 7 – Types of Clients

Kailix offers investment advisory services to individuals and high net worth individuals. Additionally, Kailix serves
as a sub-advisor to Ascent Focused Equity LP, a pooled investment vehicle.

                                                   Kailix Advisors LLC
                                     2980 NE 207th Street Suite 300 Aventura, FL 33180
                                                  Phone: (305) 897-0252