KCM Investment Advisors LLC

ITEM 5: FEES AND COMPENSATION

Fees for Financial Planning Services
KCM does not charge a separate fee for Financial Planning services. Financial Planning services
are offered to certain clients in conjunction with the advisory services the Firm offers their clients.
Clients only pay the fees related to the assets under management. Refer to the section below
regarding Fees for Advisory Services.

Fees for Investment Advisory Services
KCM provides professional management of stock and bond portfolios, for a fee based on the
market values of the portfolios at the end of each quarter, payable quarterly, in arrears. Adviser’s
fees are negotiable. No particular ranges have been pre-established concerning accounts that are
the subject of negotiated fees. Adviser’s basic annual fee structure is:

Cash Management                                         0.50%
Investment Grade Fixed Income                           0.50%
Equities, ADRs, ETFs, ETNs                              0.90%
Open and Closed-End Mutual Funds,                       0.90%
Preferred Stock and Hybrid Securities                   0.90%

KCM charges a minimum fee of $5,000 per annum.

Investment advisory fees are generally billed quarterly in arrears based upon the market value of
the account at the end of the current quarter. KCM has the discretion to adjust fees for significant
deposits and withdrawals. In some cases, a client is also billed for the balance of the quarter in
which his account was opened in addition to the following full quarter. The term "quarter" refers
to either a calendar quarter or the client's fiscal quarter. The initial quarterly fee for new clients is
pro-rated based upon the date the account is opened. Clients of KCM are subject to a 30-day
termination fee based upon assets under management at the date of termination. This fee can or
will be charged at the sole discretion of the Adviser.

Fees will be debited directly from client accounts. However, in certain case-by-case instances and
where pre-arranged with the concurrence of KCM, clients are provided the option to have their
fees billed separately.

Advisory fees are negotiable and arrangements with any particular client can differ from those
described above. In addition, for family and friends of the Firm, the Firm can, in its sole discretion,
reduce or waive management fees in their entirety. There are no fees payable before service is
provided. Clients and/or KCM can terminate the investment advisory contract upon 30-day written
notice. KCM does not provide clients advice as to the tax deductibility of its advisory fees. Clients
are directed to consult a tax professional to determine the potential tax deductibility of our fees.

Special circumstances can or will cause fees to vary from the above schedule. KCM will
“Household” accounts, based on the address of record for each account, in order to combine assets
under management, which in turn, could lower the management fee assessed by KCM.

KCM Investment Advisors, LLC                                                         March 19, 2026

Form ADV Part 2A

KCM at times, will not charge a fee to small accounts of a client because of the fee the client is
paying on the total relationship. KCM reserves the right to negotiate fees with clients. KCM, in its
sole discretion, reserves the right to change fee schedules, lower, fees than those described above
with the consent and acceptance by Client. Some of KCM’s clients may have differing fee
schedules than those described above based on when they entered into an advisory agreement with
KCM.

KCM reserves the right and can at its discretion charge lower fees than those agreed to and as
described in the IMA (Investment Management Agreement). Cash and other asset classes can
be charged at a lower rate, or no rate at all depending on certain client circumstance and other
portfolio considerations. Further, KCM can adjust rates down (reduce) from the IMA rates
without explicit written consent of Client.

KCM’s fees are exclusive of brokerage commissions, transaction fees, and other related costs and
expenses which shall be incurred by the client. Such costs are exclusive of and in addition to
KCM’s fee, and KCM does not receive any portion of these costs. Please refer to Item 12 of this
brochure regarding KCM’s brokerage practices and the factors that KCM considers in selecting or
recommending broker-dealers for client transactions and determining the reasonableness of their
compensation. Furthermore, clients whose assets are invested in ETFs (Exchange Traded Funds),
ETNs, (Exchange Traded Notes), Mutual Funds, and Money Market Accounts where a
management fee is assessed as an expense, are in effect, paying two advisory fees. First, clients
pay a regular quarterly fee on the money value of total assets under KCM’s management, which
includes the assets that are invested in the aforementioned funds. In addition, clients pay another
fee to the investment adviser or sponsor of the fund based upon the amount of their investment in
that fund.

ITEM 7: TYPES OF CLIENTS
Description

KCM provides portfolio management services to individuals, high-net-worth individuals,
corporate pension and profit-sharing plans, charitable institutions, foundations, endowments,
corporations, and trust programs either through direct contract or through relationships with
outside wealth managers and wrap sponsors.

Conditions for Managing Accounts

KCM generally has a minimum account size of $1,000,000 for opening a direct account, based on
the product in which the client invests, subject to negotiations. KCM has the right to waive this

KCM Investment Advisors, LLC                                                           March 19, 2026

Form ADV Part 2A
fee minimum and certain accounts may be less that $1 Million.

KCM charges a minimum fee of $5,000 per annum.

KCM presently acts and/or reserves the right in the future to act as a Sub-Advisor for other
Investment Consultants, Investment Advisors, Registered Investment Advisers and to various
broker and broker-dealers as a preferred provider or managed account provider. KCM has
agreements with certain outside and independent firms whereby KCM agrees to manage accounts,
which select KCM as an investment adviser. Under these agreements, the client typically will pay
a single fee based on a percentage of assets under management. In some arrangements the client
has a separate agreement with KCM and pays KCM separately. In other arrangements, the client
will pay one fee to the referring broker or adviser which would include consulting, manager search,
performance measurement, custodial services with a single fee based on a percentage of assets
under management. In some programs, brokerage commissions can be included in the single fee.