Kineo Capital LLC

Item 5 Fees and Compensation
ADVISORY FEES

The following information describes how Kineo Capital is compensated for the investment
advisory services we provide to our clients. The specific manner in which fees are charged and the
compensation we receive may differ between clients depending upon the individual Investment
Management Agreement with each client.

Kineo Capital LLC                                                                                   6
Form ADV Part 2A – Kineo Capital

Kineo Capital reserves the right to negotiate our compensation with clients depending on the scope
of our advisory relationship, and we may charge higher or lower fees than are available from other
firms for comparable services. Kineo Capital has the general discretion to waive all or a portion of
our fees but typically only exercises this discretion for our employees.

Investment Management Fees: In consideration for providing investment management services
and in accordance with the Investment Management Agreement with the client, Kineo Capital
charges an annualized asset-based fee of 1.0%-2.5%, based on the client’s assets under
management (“AUM”) as valued by the qualified custodian(s), Interactive Brokers, LLC
(“Interactive Brokers”), andClear Street LLC

Performance-Based Portfolio Management Fees

                                   Annual Management Fee      Annual Performance Fee
                Total Assets
                                    (on all assets managed)   (on capital appreciation)
                All Assets                   2%                         8%

       Qualified Clients will pay an annual fee of 2% of assets under management along
       with a 8% performance fee based on capital appreciation. If the portfolio rises in
       value, then the client will pay 8% on that increase in value. Performance-based fees
       are withdrawn directly from the client’s accounts with client’s written
       authorization. Management Fee is paid monthly in advance while performance
       fees are paid quarterly in arrears.

       In general, a “Qualified Client” is:
                (1) a natural person or company who at the time of entering into such
               agreement has at least $1,100,000 under the management of the investment
               adviser;
                (2) a natural person or company who the adviser reasonably believes at the
               time of entering into the contract: (A) has a net worth of jointly with his or
               her spouse of more than $2,200,000 excluding the value of the client’s
               primary residence; or (B) is a qualified purchaser as defined in the
               Investment Company Act of 1940, §2(a)(51)(A) (15 U.S.C. 80a-2(51)(A)); or
                (3) a natural person who at the time of entering into the contract is: (A) An
               executive officer, director, trustee, general partner, or person serving in
               similar capacity of the investment adviser; or (B) An employee of the
               investment adviser (other than an employee performing solely clerical,
               secretarial, or administrative functions with regard to the investment
               adviser), who, in connection with his or her regular functions or duties,
               participates in the investment activities of such investment adviser,
               provided that such employee has been performing such functions and

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Form ADV Part 2A – Kineo Capital

               duties for or on behalf of the investment adviser, or substantially similar
               function or duties for or on behalf of another company for at least 12
               months.

Subadviser Services Fees. Kineo Capital may also act as a subadviser to unaffiliated third party
advisers, Gullane Capital, LLC and Kineo Capital would receive a share of the fees collected from
the third party adviser’s client. The fees charged are negotiable and will not exceed any limit
imposed by any regulatory agency. This relationship will be memorialized in each contract
between Kineo Capital and the third party adviser, Gullane Capital, LLC.

Subadviser fees may be withdrawn from client’s accounts with the client’s written authorization
as disclosed in each contract between Kineo Capital and the applicable third party adviser.

Financial Consulting Fees. Kineo Capital charges $300 per hour for ad hoc financial consulting
and advisory services. This rate is typically only offered to pool investment vehicles and similar
entities. Additionally, this rate is charged on a case-by-case basis addressing a specific question or
issue of the client.

Kineo Capital bills our fees on a quarterly basis in arrears. Kineo Capital does not withdraw fees
directly from clients’ accounts. Clients authorizes the calculation and deduction of our fees from
their managed accounts by the qualified custodian(s). We will instruct the qualified custodian(s)
to send clients invoices detailing the advisory fees automatically calculated and deducted from
their accounts when those fees are actually charged. These notices describe the method used to
calculate the fee, the amount of the fee and the period covered by the fee.

Additional Fees and Expenses: Clients will incur transaction charges and/or brokerage fees when
purchasing or selling securities. These charges and fees are typically imposed by the broker-dealer
or qualified custodian through which account transactions are executed. For more information on
our brokerage practices, please refer to Item 12 (Brokerage Practices) of this Brochure.

The fees that clients pay to our firm for investment advisory services are separate and distinct from
the fees and expenses charged by mutual funds and/or exchange-traded funds (described in each
fund’s prospectus) to their shareholders. The fees charged directly by mutual funds and exchange-
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TYPES OF CLIENTS

Kineo Capital LLC generally provides advisory services to a variety of clients including high-net-
worth individuals, ultra-high-net-worth individuals, trusts, estates, qualified purchasers, family
offices, endowments, foundations, charitable organizations, private investment funds, pooled
investment vehicles, corporations, businesses, pension and profit-sharing plans, sovereign wealth
funds, and other investment advisers. Client relationships may vary in scope and length of service.

Kineo Capital LLC                                                                                    9
Form ADV Part 2A – Kineo Capital

ACCOUNT REQUIREMENTS

Kineo Capital requires a minimum account balance of $1,000,000 in order to retain our investment
management services, but terms are negotiable.