Mariner LLC

Item 5-Fees and Compensation

The specific manner in which our fees are charged is established in the Agreement. While certain
clients may be billed in arrears, we will generally bill our fees in advance on a quarterly basis
based upon the value of assets under management and/or advisement on the last day of the previous
billing period, as valued by the applicable custodian or another independent third-party, as set forth
on the most recent statement made available to us, or as otherwise dictated by the client’s
Agreement. The Agreement also addresses the application of fees with respect to accrued interest.
The Agreement and/or the separate agreement with any financial institution(s) authorizes us to
                                                                          Mariner, LLC - Form ADV Part 2A
                                                                                              July 17, 2026

invoice the custodian for the advisory fee. The Agreement further authorizes the custodian to
deduct the amount stated in the fee statement from one or more of the client’s accounts in
accordance with applicable custody rules. The custodian does not validate or check our fee or its
calculation on the assets on which the fee is based. The custodian will deduct the fee from the
account(s) or, if the client has more than one related account(s), from the account designated by
the Firm and/or the client to pay our fees, as applicable. The custodians with which our clients
maintain accounts have agreed to send statements to each client, at least quarterly, indicating all
amounts disbursed from the account(s), including the amount of advisory fees paid directly to us.
We urge clients to carefully review such account statements for accuracy.

A client may make additions to and withdrawals from the account at any time, subject to our right
to terminate an account. For advanced billing, and if provided for in the client’s Agreement, if
assets are deposited into an account after the inception of a billing period, the fee payable with
respect to such assets will generally be prorated based on the number of days remaining in the
quarter. The Firm typically reserves the right to adjust its policy regarding billing on these flows
upon advance notice to clients. A client may withdraw account assets, subject to the usual and
customary securities settlement procedures. If provided for in the client’s Agreement, for partial
withdrawals within a billing period, we shall credit our unearned fee towards the next billing
period’s fee. Clients should note that we design our portfolios as long-term investments and asset
withdrawals can impair the achievement of a client’s investment objectives. The applicability of
the proration as set forth herein is governed by the specific Agreement with each client.

The billing practices applicable to legacy clients of certain investment advisory businesses
acquired by the Firm may temporarily deviate from the general practices described above, as the
operations of the investment advisory businesses acquired by the Firm are transitioned and
integrated into the Firm. Clients should refer to their applicable Agreements to understand the
specific billing practices applicable to their assets.

For a limited portion of client accounts, we utilize the Adhesion Wealth unified managed account
program to access third-party money managers for certain client accounts. Accounts in Adhesion
Wealth unified managed account program are charged an additional annual fee of 0.08% by
Adhesion Wealth and an annual third-party manager fee up to 0.50% depending on the manager(s)
selected, in addition to the Mariner annual advisory fee. We make available and, where appropriate
and permitted by applicable law, may select our own manager option within the Adhesion Wealth
unified managed account program to manage client accounts. Clients will receive statements from
the custodian that present the fees charged to accounts and may also ask us at any time for a
description and accounting of the annual advisory fees, additional annual fees and manager fees
being charged.

As set forth in greater detail in the specific client’s Agreement, for the initial billing period of
investment management services, the first billing period’s fees shall be calculated on a pro rata
basis if less than a full calendar quarter. The Agreement between us and a client will continue in
effect until terminated by either party pursuant to the terms of the Agreement. Our annual fee(s)
shall be prorated through the date of termination, and any remaining balance shall be charged or
refunded to the client, as appropriate, in a timely manner. Clients on our current standard fee
schedule are generally subject to a non-refundable minimum quarterly fee equal to $1,875, as set
forth in the applicable Agreement. Certain clients are subject to a fixed fee arrangement which

                                                                        Mariner, LLC - Form ADV Part 2A
                                                                                            July 17, 2026

includes an annual fee increase at an agreed-upon percentage, as set forth in the applicable
Agreement. Fixed fees are generally paid quarterly in advance and are not prorated for partial
billing periods.

Additions may be in cash or securities provided that we reserve the right to liquidate any
transferred securities or decline to accept particular securities into a client’s account. We generally
consult with clients about the options and consequences of transferring securities, prior to any such
transfer. However, clients are advised that when transferred securities are liquidated, they are
generally subject to transaction fees, fees assessed at the asset level (i.e., contingent deferred sales
charge on certain mutual funds) and/or tax consequences, among other considerations.
...

Item 7-Types of Clients

We generally provide investment advice to the following types of clients:
  • Individuals (including high net worth individuals)
  • Pension and profit-sharing plans
  • Trusts, estates, or charitable organizations
  • Corporations or business entities other than those listed above
  • Private funds

As discussed elsewhere in this Brochure, we may impose minimum account size requirements
with respect to certain of our advisory services. In addition, certain third-party managers may
impose more restrictive account requirements and varying billing practices than us. In such
instances, we may alter our corresponding account requirements and/or billing practices to
accommodate those of the manager(s).

Private Funds

Please see the relevant offering materials for more information on investor eligibility requirements
and minimum investment amounts for each private fund managed by the Firm.