Littlefield Asset Management Inc

Item 5 – Fees and Compensation
PORTFOLIO MANAGEMENT SERVICES

LAM assesses fees to Clients in two distinct manners. For most clients, the Client will be assessed annual
fees in an amount not to exceed 0.80% per year. The percentage of fees may vary among Clients based
on factors including the amount of assets under management. The fees are negotiable between LAM and
Client. Client shall pay LAM for its services in arrears on a quarterly basis. Fees will be based on the
value of the Client’s account(s) as of the last business day of the previous calendar quarter. For new
Clients, the fee will be pro-rated based on the number of days the account(s) are under management by
LAM. For contributions made to Client’s account(s) during a quarter, the fee will be pro-rated based on
the number of days the contributed amount was under management by LAM. The Client authorizes LAM
and custodian(s) to debit fees for the Client's asset(s) under management by LAM unless otherwise agreed

to by LAM that checks are an acceptable form of payment. Refer to Item 15 for a more complete
discussion of the process of debiting fees.

For some Clients, whose account(s) are typically smaller in amount, LAM may assess a negotiable flat fee
in arrears for managing the assets of the Client. The fee is payable to LAM on a quarterly basis unless
otherwise agreed to by LAM and the Client. The Client understands that LAM’s fee is payable by check.

The Client may incur additional charges from the custodian maintaining the Client’s Account(s). Such fees
include account maintenance fees, safekeeping fees, administrative fees, transfer fees, and transaction
expenses, such as ticket charges and mailing and postage charges. Clients investing in exchange traded
funds may be subject to fees and charges imposed by the funds that are in addition to LAM”s fees.

The investment advisory agreement between LAM and Client may be terminated by either party at any
time upon written notice to the other party. The Client will be responsible for the payment of a pro-rated
amount of fees earned by LAM in arrears that have not yet been billed. The Client has the right to
terminate their relationship with LAM without penalty within five business days after entering an
agreement for services with LAM.

Item 7 – Types of Clients
LAM provides portfolio management services to individuals and high net worth individuals. LAM can
provide services to other types of clients. LAM does not impose a minimum investment amount for
obtaining the services of LAM.