Legacy Knight MFO LLC

ITEM 5. FEES AND COMPENSATION

Legacy Knight Family Office Clients and Outsourced Chief Investment Officer Clients

Legacy Knight charges an annual investment advisory fee (“Management Fee”) as a percentage of
assets under management. The Management Fee is payable quarterly, in advance, and are typically
deducted directly from the family's account, in line with standing instructions from the client. The
Management Fee is calculated by applying the applicable Management Fee rate to the assets in
accordance with the fee schedule in the client’s agreement. Asset values are provided by each
account Custodian(s) and are calculated at the close of business on the last trading day of the
previous calendar quarter.

The Management Fee is established pursuant to customized fee schedules negotiated with each
client based on the nature of the relationship, including assets, complexity, family structures, and
scope of services. As a result, similarly situated clients may pay different fees. The applicable fee
arrangement for each client is memorialized in the advisory agreement and related fee schedule.

This Management Fee is pro-rated, as applicable, and charged against the balance in the Client’s
account on the last day of the calendar quarter. Fees are adjusted at the end of the following quarter
to account for capital flows into or out of the accounts.

The Management Fee is automatically deducted from the Client’s custodial account. Clients are
provided with a quarterly statement by the account Custodian that reflects the deduction of the
Management Fee and an illustration detailing the Management Fee calculation. Clients
acknowledge that it is their responsibility to verify the accuracy of the calculation of the
Management Fee and that the account Custodian(s) does/do not determine whether the
Management Fee is accurate or properly calculated.

In addition to the Management Fee, Client’s may also incur certain charges imposed by unaffiliated
third parties and are not payable to Legacy Knight. Such charges include, but are not limited to,
custodial fees, brokerage commissions, transaction fees, charges imposed directly by a mutual
fund, index fund, or exchange traded fund purchased for the account which shall be disclosed in
the fund’s prospectus (i.e.., fund management fees and other fund expenses), wire transfer fees and
other fees and taxes on brokerage accounts and securities transactions.

Clients acknowledge and authorize Legacy Knight to charge the applicable Custodian account(s)
for certain additional assets managed by Client by Legacy Knight but not held by the Custodian.

In certain limited circumstances, Legacy Knight charges a fixed annual Management Fee that is
payable quarterly in advance.

Private Funds
All fees paid to Legacy Knight for investment advisory services are separate and distinct from the
fees and expenses charged by the Funds to the investors in the Funds as members or limited
partners of the private pooled investment vehicles. These fees and expenses are described in the

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Funds' offering documents. Such fees generally include a management fee, other fund expenses,
and a performance-based fee (“Incentive Allocation”). Clients could possibly invest in the Funds
directly, without our services. In that case, clients would not receive the services provided by
Legacy Knight which are designed, among other things, to assist each client in determining if the
Funds are appropriate to each client's financial condition and objectives. Accordingly, clients
should review both the fees charged by the Funds and Legacy Knight to fully understand the total
amount of fees to be paid by each client and thereby evaluate the advisory services being provided.

In certain cases, the fees charged by the Funds are separate and apart from our advisory fees. You
should refer to the offering documents for a complete description of the fees.

Additional Fees and Expenses
As part of our advisory services to you, we may invest, or recommend that you invest, in mutual
funds and exchange traded funds. The fees that you pay to our firm for investment advisory
services are separate and distinct from the fees and expenses charged by mutual funds or exchange
traded funds (described in each fund's prospectus) to their shareholders. These fees will generally
include a management fee and other fund expenses. You will also incur transaction charges and/or
brokerage fees when purchasing or selling securities. These charges and fees are typically imposed
by the broker-dealer or custodian through whom your account transactions are executed. We do
not share in any portion of the brokerage fees/transaction charges imposed by the broker-dealer or
custodian. We may also recommend that you invest in private funds that are not managed by
Legacy Knight. These funds may charge additional fees that are separate and distinct from the fees
paid to our firm per the respective fund’s governing documents. These fees are not paid to or
shared with Legacy Knight. To fully understand the total cost you will incur, you should review
all the fees charged by mutual funds, ETFs, our firm, and others. For information on our brokerage
practices, refer to the Brokerage Practices section of this brochure.

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ITEM 7. TYPES OF CLIENTS

Legacy Knight provides investment advisory services to our Family Office clients, our Outsourced
Chief Investment Officer (OCIO) clients, and Legacy Knight Capital Partners, (“clients”). OCIO
clients typically have an existing internal team, single-family office, or foundation. . Legacy
Knight may accept OCIO clients with smaller amounts of investable assets depending on the
complexity and nature of the services provided and family circumstances.

To invest in a Fund or any other pooled investment vehicle managed or sponsored by the Firm or
an affiliate thereof, each investor is required to certify that it is, among other things, an “accredited
investor” and a “qualified client”, as such terms are defined under applicable U.S. securities laws.
In general, the minimum initial capital commitment for an investor in a Fund will be $250,000, or
such lesser amount accepted by the Fund’s general partner in its discretion.

Legacy Knight MFO, LLC                                                                                12