Mariner Institutional LLC

Item 5-Fees and Compensation

Traditional Plans

Our fees are generated from the annual retainer advisory fee the client pays directly to us for our
services. These fees are hard-dollar only and may be fixed or variable, and may include an annual
fee escalator of an agreed-upon percentage. We do not have a set fee schedule for traditional plans.
Invoices are sent directly to the client or their designated representative and payment is rendered to
us.

Defined Contribution Plans

For defined contribution plans, the advisory fee will vary by client based upon the services provided
but shall be reasonable in conformity with U.S. Department of Labor regulations. The structure
and level of fees relating to these services will vary by client based upon the services provided and
other considerations deemed relevant by the Firm, but typically takes the form of a fixed fee or a
percentage of assets under management. We will generally bill these fees in arrears and payment is
typically collected by directly remitted payments from clients or through client directed deductions
through a plan’s recordkeeper

Our Pathway DC Solution is based on a set fee schedule, which may vary by provider, but is
generally a tiered asset-based fee, and in some cases, a separate flat fee paid by a Plan Sponsor.
Please see your advisory agreement for specific fees applicable to you.

Our hard dollar fees vary depending on the complexity of the engagement. Fees are negotiated
directly with clients prior to entering into each new engagement. We do not have a minimum plan
size that we will accept, nor do we have a minimum stated fee. All fees are fully disclosed and
negotiated with the client in advance. Most clients’ fees are billed quarterly in arrears, however
some are billed for services quarterly in advance. In these instances, any unearned fee would be

                                                                               Mariner Institutional, LLC - Form ADV Part 2A
                                                                                                                       June 18, 2026

returned to the client in the event the relationship was terminated. Some clients request to have
their fees deducted from their accounts, which we honor on an exception basis. While some clients
elect to base our fee on a stated percentage of assets under advisement, under no circumstances are
our fees based on participating in a share of capital gains or appreciation of funds beyond the stated
percentage of assets. Clients can terminate our advisory services at any time upon written notice.

Any other fees incurred to manage or custody client assets are the result of, and are billed by, other
service providers under their separate agreements directly with the client. Such fees could include
investment manager fees, brokerage fees and custody fees, among others, and should all be
disclosed under those separate agreements.

All fees paid to us for investment consulting and advisory services are separate from the fees and
expenses charged to shareholders of mutual fund shares or ETFs by their respective managers. A
complete explanation of these expenses charged by the mutual funds or ETFs is contained in each
strategy’s prospectus. Also, all fees paid to us for consulting and advisory services are separate
from the fees and expenses which may be charged by other third-party investment managers,
custodian fees and other service providers.

In addition, for our traditional non-discretionary clients, we do not typically trade clients’ accounts
and therefore in those cases would receive no brokerage or other transaction fees. There are a
limited number of clients whereby we do have certain authorities to trade clients’ accounts. In such
cases, there are processes in place for oversight and monitoring.

For our discretionary clients, although we also do not receive any brokerage or other transaction
fees, we do, however, support portfolio administration (e.g., rebalancing) and accordingly will
facilitate trades for their designated accounts, and for a limited number of clients will trade clients’
accounts. These activities have an additional level of oversight within Mariner Institutional and,
except for the aforementioned limited clients, actual execution of trades is generally carried out by
the client’s qualified custodian. Accordingly, even in a discretionary capacity, we still receive no
brokerage or other transaction fees. Please see additional detail under Item 12.

As indicated above, we do not have a set fee schedule. Rather, our annual consulting fee varies
depending on the engagement. Based on the services requested and plan complexity, fees could
range from approximately $25,000 to over $1,000,000 annually. Moreover, for clients deemed not
to be “qualified purchasers” as defined in Section 2(a)(51)(A) of the Investment Company Act of
1940, our fees generally range from $5,000 to $40,000 annually depending on the size and
complexity of the client.

Item 7-Types of Clients

Mariner Institutional works with many different types of institutional plans sponsored by public
and government entities, public and private educational institutions, unions (Taft-Hartley),
insurance companies, endowments, foundations, corporations, hospitals, healthcare systems and
self-insurance funds. Mariner Institutional also services a limited number of retail accounts (e.g., high-
net worth individuals), primarily from legacy relationships or acquisitions. Our firm is structured to be
able to consult and advise any institutional pool of assets. Some of the plan types we work with
include:
• Retirement plans, including defined benefit pension, cash balance, defined contribution, ESOP
    and money purchase plans
• Post retirement and benefit plans, such as health and welfare, OPEB, VEBA and other retiree
    health plans
• Endowments and foundations
• Other asset pools, such as operational, liquid reserve, insurance, and risk pools

As stated in “Item 5 – Fees & Compensation,” we do not have minimum plan size requirements,
nor a stated minimum fee for establishing a new client relationship for investment consulting
services.