Managed Asset Portfolios LLC

Item 5 – Fees and Compensation

Under the terms of Adviser’s standard advisory agreement, client fees are generally payable quarterly in
advance based on the value of portfolio assets in the client’s account at the end of the immediately
preceding calendar quarter, as reasonably determined by Adviser. For new accounts, Adviser’s fees are
prorated for the initial quarter or other periods of less than a full calendar quarter. However, the firm may
bill in arrears and may enter into special billing arrangements.

Subsequent deposits of assets to existing accounts are not billed until the next quarter’s billing cycle.
Clients are discouraged from making withdrawals during the quarter since advisory fees are charged in
advance and are not recalculated and credited or refunded for intra-quarter asset withdrawals after fees are
charged.

Managed Account Fee Structure (New Clients):

        •   Enhanced Income portfolios are generally assessed a fee at a maximum annual rate of ½ %
            of assets.
        •   Balanced portfolios are generally assessed a fee at a maximum annual rate of 1 % of assets.
        •   U.S. Multi-Cap, Global Equity, Global Equity – ADR, Global Equity Ex-Options and Global
            Equity Ex-Options - ADR portfolios are generally assessed a fee at a maximum annual rate of
            1¼ % of assets.

MAP historically has had different fee rates, and therefore existing clients may be subject to different fee
rates including lower rates. Upon request, Adviser may negotiate or waive advisory fees due to a variety of
factors, including account inception date, account value, aggregate value of client-related portfolio
accounts, and the level of services provided.

Investment Company Fee Structure:

Fees and expenses for the Catalyst/MAP Global Equity and Global Balanced mutual funds depend upon
the specific fund and share class purchased. We encourage you to carefully read the applicable prospectus
to understand the expenses associated with each fund and share class. Charles Schwab & Co., Inc.
(“Schwab”), a registered broker-dealer and a qualified custodian for client accounts, may also charge a
transaction fee depending upon the fund and share class selected. Your adviser representative will assist
with your fund and share class selection to help minimize costs based upon the size of your investment and
your particular needs and circumstances.

Institutional Fee Arrangements:

Fee breakpoints for institutional clients are available and are negotiated individually. These fees may differ
from the rates charged to other separately managed accounts.

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Wrap Fee Structure:

Wrap program fees are determined by the wrap program sponsor. Fee rates paid by the wrap fee sponsor to
Adviser are negotiated individually and may differ from the rates charged to separately managed accounts.

Model Portfolio Fee Structure:

Fees for model portfolio services are negotiated with the Model Portfolio Provider.

General:

MAP may negotiate advisory contracts with terms or fee arrangements (including performance-based fees)
differing from those described above. In addition, fees may be waived in whole or in part, for varying
periods of time, at the sole discretion of the Adviser in connection with promotional efforts or for any other
reason. Adviser may provide advisory services on a fixed-rate basis. Fixed-rate fees are negotiated on an
individual basis.

In addition to our advisory fee, clients will incur charges imposed by custodians, brokers, and other third
parties, including brokerage commissions, fees on transactions in foreign securities, custodial fees,
deferred sales charges, markups and/or markdowns on bonds, prime brokerage fees, early tender
payments, odd-lot differentials, transfer taxes, foreign taxes, wire transfer and electronic fund fees, and
other fees and taxes on brokerage accounts and securities transactions. Mutual funds and exchange-traded
funds also charge internal management fees and other expenses which are disclosed in the funds’
prospectus.

Such charges, fees and expenses are in addition to Adviser’s fee, and Adviser generally does not receive any
portion of these custodian charges, fees and commissions, nor does Adviser control or establish the
amount of such charges which may be changed by the custodian from time-to-time without notice.

Custodian broker-dealers charge commissions and/or fees to execute transactions in foreign ordinary
securities directly in the local foreign markets. Foreign securities transaction commissions may be
significantly higher than commissions charged on domestic securities transactions. Therefore, MAP may
consider such foreign transaction commission charges when determining whether foreign securities should
be purchased in a client account. If we decide the foreign securities transaction commission is too great
relative to the principal amount of the proposed transaction, we may not purchase foreign ordinary
securities in the local market. This decision may cause the client’s portfolio to differ from its model
composite. Alternatively, MAP may purchase ADRs and/or ETFs for the foreign investment component
of the client’s portfolio.

Any questions regarding advisory fees or third-party charges and fees may be directed to your MAP
representative.

Under our standard form advisory agreement, either Adviser or the client may terminate the agreement
upon thirty (30) days’ notice to the other party. Any unearned fees at the time of termination, as
determined on a prorated basis, will be promptly refunded to the client.

Item 7 – Types of Clients

MAP generally provides discretionary investment advice to high-net-worth individuals, pension and profit-
sharing plans, government plans, trusts, estates, charitable organizations, registered and private investment
companies, family offices, corporations, and other entities (including offshore funds). Adviser may, in
certain cases, provide investment advice to non-U.S. residents. Adviser generally requires a minimum
account size of $1,000,000 and a minimum net worth of $1.5 million for separately managed accounts.
Adviser may waive these requirements in its sole discretion on a case-by-case basis. Adviser historically
had lower account minimums; therefore, existing clients may be subject to lower minimum account sizes.
Adviser reserves the right to decline the management of an account for any or no reason, including if the
management fee for the initial year of service does not meet a $1,000 annual minimum.

The wrap fee program sponsor typically determines investment minimums for wrap fee programs, and other
advisory platforms.