Laffer Tengler Investments Inc

ITEM 5. FEES AND COMPENSATION
The following discussion represents the basic compensation arrangements of Laffer Tengler
Investments. However, fees and other compensation are negotiable in certain circumstances and
arrangements with any particular client may vary.

Methods and Manner of Billing
Unless specifically stated to the contrary, fees will be calculated based upon the aggregate
market value of all assets under management within the client’s account(s), including allocations
to cash. Fees that are calculated as a percentage of assets under management are generally
charged quarterly in arrears; however, as discussed below, fees charged to wrap fee clients by
wrap fee Sponsors, including the portion of such fees payable to Laffer Tengler Investments for
its portfolio management services, may be paid in advance as determined by each Sponsor.

Laffer Tengler Investments’ standard fee schedule for wealth management clients is below. Fees
for institutional clients are negotiable based on the size of the account, the selected investment
strategy and other contributing factors.

    Client’s Aggregate Portfolio                              Annual Fee Rate*
        Management Assets              (Applies to all household assets once total Client assets reaches
                                                          the specified range below)
 Up to $3,000,000                                                    1.15%
 $3,000,001 - $5,000,000                                             1.00%
 $5,000,001 - $10,000,000                                            0.90%
 $10,000,001 - $20,000,000                                           0.75%
 Over $20,000,000                                                 Negotiable

Laffer Tengler Investments reserves the right, in its sole discretion, to negotiate and to charge
different fees for certain accounts based on a client’s particular needs or requirements as well as
overall financial condition, goals, risk tolerance and other factors unique to the client’s particular
circumstances.

Clients can elect to have fees owed to Laffer Tengler Investments deducted directly from their
account. In instances where a client has authorized direct billing, the client’s “qualified custodian”
sends periodic statements, no less frequently than quarterly, showing all transactions and
holdings during the period. Clients are urged to review their account statements for accuracy and
compare the information to any reports received directly from Laffer Tengler Investments.
Clients may also request that billings be made directly to the client or a designated third party if
authorized in writing by the client.

Investment advisory agreements between Laffer Tengler Investments and its clients are generally
terminable at any time by the client or the Firm upon 5‐day advance notice by either party to the
other. Clients should review their Investment Management Agreement for the terms and
conditions specific to their account. Termination typically requires that written notice be given
by the terminating party. In the event of termination during a quarterly period, the client will pay
only that portion of the fee earned by Laffer Tengler Investments up to the actual date services
are terminated. To the extent that fees are paid to the Firm in advance and a client terminates
its agreement during the quarterly period, Laffer Tengler Investments (or the wrap fee Sponsor,
as applicable) will refund to the client a pro rata portion of the fee paid.

Wrap Fee Program Manager Fees
For fee arrangements with wrap fee program clients, the program Sponsor generally collects the
total wrap fee and remits the advisory portion to Laffer Tengler Investments. The advisory
portion payable to Laffer Tengler Investments can vary from program to program and within a
single program based on the desired investment mandate. Information on the total wrap fee is
included in the Wrap Brochure provided by the program Sponsor. The current advisory portion
payable to Laffer Tengler Investments generally ranges from 0.20% to 0.55% depending upon the
strategy and wrap platform in question.

ETF Sub-Adviser Fees
Laffer Tengler Investments receives fees based on the assets under management in the Fund.
These charges are paid from the assets of the Fund and are included in the total fund

operating expenses charged to the Fund and allocated proportionally to each shareholder.
Complete information regarding a Fund’s operating expenses is located in the Prospectus for the
Fund.

Other Fees and Expenses
Where client assets are managed through a wrap fee arrangement, the advisory fee typically
covers portfolio management, advisory services, custodian fees, brokerage commissions and
other costs associated with purchase and sale when transactions are executed through the
account custodian. Mark-ups, mark-downs and dealer spreads are costs borne by the client as
they are reflected in the price of the transaction. The advisory fee does not include other fees
such as trade-away fees, account transfer fees, account maintenance fees, wire fees, interest,
taxes, or internal expenses associated with mutual funds and exchange traded funds, as
described below.

Clients may also maintain non-managed accounts (client-directed accounts) at Pershing where
Laffer Tengler does not provide investment supervisory services but instead assists the client with
servicing requests and executes trades at the client’s direction. Laffer Tengler charges 0.10%
annual fee billed quarterly in arrears based on the market value of the account at the end of the
quarter. These client-directed accounts are subject to the same brokerage arrangement we
negotiated with Pershing for our wrap fee program and, therefore, trading and brokerage
expenses are also included in the fee.

Client accounts that are not managed through a wrap fee arrangement are also subject to
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ITEM 7. TYPES OF CLIENTS
Laffer Tengler Investments provides investment advisory services to the following types of
clients:

       •   Individuals & Personal Trusts
       •   Foundations & Endowments
       •   Retirement Plans

       •   Broker Dealers and/or Investment Advisers
       •   Corporations
       •   Government Entities
       •   Investment Companies

Minimum Investment Guidelines
Generally, Laffer Tengler Investments requires a minimum account size of $3,000,000 or more to
establish a discretionary account with the Firm. For those clients utilizing a third-party wrap fee
program the typical minimum account size to establish an account with Laffer Tengler
Investments is $100,000. The Firm reserves the right to raise or lower the minimum account size
to establish an account with the Firm. The Firm may elect to lower its minimum threshold
requirement in recognition of the length of a client relationship, multiple accounts with a client
or household, etc.