Meridian Investment Counsel Inc

Item 5: Fees and Compensation

For investment-advisory services, Meridian charges a fee based upon the percentage of the market
value of assets held in your accounts which are under Meridian’s management. All assets in these
accounts are included in the fee calculation unless specifically identified in writing for exclusion. Our
minimum annual fee is $5,000. A lower minimum fee or a waiver of the minimum fee is at our
discretion. Before any services are rendered, we explain the computation of fees to you and come to
agreement upon the compensation. Unless otherwise negotiated between Meridian and you, the
annual fee is calculated according to the following standard fee schedule:

Value of Managed Assets                   Annual Fee Rate
On the first $2,500,000                   1.00%
On the next $2,500,000                    0.75%
On the next $5,000,000                    0.60%
On amount over $10,000,000                0.30%

Services provided for the above fees are for investment advice, periodic reporting of asset holdings and
asset valuations, and performance reviews. Your investment management fee to Meridian is
determined in accordance with the above standard fee structure, with exceptions negotiated on a case-
by-case basis at our discretion. Any deviations from the fee structure are based on a number of factors
including the nature and length of the client relationship, the service requested, account composition,
the amount of work involved, the amount of assets placed under management, and the attention
needed to manage the account.

We reserve the right to reduce the advisory fee as we deem appropriate for new clients while retaining
prior fee arrangements for existing clients. This will result in different advisory fees being charged for
similar services. For certain relationships, multiple portfolios with a common interest will be combined
as one for billing purposes. Additionally, conflicts of interest exist over financial professional time
devoted to managing one account and allocating investment opportunities among accounts.
Circumstances may arise where we give advice and take action with respect to a client that differs from
advice given or the timing or nature of action taken with respect to another client.

Fees are billed in advance at the beginning of each calendar quarter and are computed by multiplying
one quarter of the negotiated fee rate by the gross value of your managed assets, in aggregate, on the
last business day of the previous quarter. For additional contributions of $50,000 or more per
occurrence made to the account during the quarter, fees are pro-rated from that date to the last day of
the quarter. For withdrawals of $50,000 or more per occurrence from the account during a quarter,
fees are refunded on a pro-rata basis. Adjustments are made on the next billing cycle. No adjustments
are made for additions or withdrawals less than $50,000. Fees are generally deducted directly from
your account pursuant to a written agreement. You may choose to pay our fees directly. Investment-
advisory services begin with the effective date of the agreement, which is the date you sign the
Investment Advisory Agreement (“Agreement”), or an alternate date mutually agreed by you and us.

Meridian Investment Counsel Inc.                                                                      Page 3

Form ADV Part 2A                                                                            March 26, 2026

For the calendar quarter when the Agreement is first in place, fees are adjusted pro rata based upon
the number of calendar days in the calendar quarter that the Agreement was effective.

While Meridian does not utilize margin for the management of client accounts, a client may choose at
their sole discretion to utilize margin to borrow money against their account. If so, Meridian calculates
its fee on the gross value of managed assets. For example, if your managed assets are $3,000,000 and
there is a $50,000 margin balance initiated and directed by you, Meridian will calculate its fee on
$3,000,000.

Neither Meridian nor any of its employees receive any compensation for the sale or purchase of
securities or other investment products.

Our service can be terminated by either party upon written notification in accordance with the
applicable contractual notice of termination. Upon termination, the fees charged for advisory services
are pro-rated and a refund for any unearned fees is issued. You are responsible to pay for services
rendered until the termination of the Agreement. You can cancel the Agreement without penalty.

For new clients of Meridian, if a copy of this Form ADV Part 2A disclosure statement was not delivered
to the client 48 hours or more before the client enters into a written advisory agreement with us then
the client has the right to terminate the agreement without penalty within five (5) business days after
entering into the agreement. An investment advisory agreement is considered entered into when all
parties to the agreement have signed the agreement. If the client terminates the agreement on this
basis, all fees paid by the client will be refunded. However, any transaction costs imposed by an
executing broker or custodian for establishing the custodial account or for trades occurring during
those five days are non-refundable.

Clients customarily authorize Meridian to deduct its investment advisory fees directly from their
accounts. At the discretion of Meridian, a client may pay their fee directly to Meridian. Under this
arrangement, payment is due upon client’s receipt of our billing invoice. Payment-related transaction
costs will be borne by the client. You should be aware of your responsibility to verify the accuracy of
the fee calculation submitted to the custodian by us, as the custodian will not determine whether the
fee has been properly calculated.

Advisory fees charged by Meridian are separate and distinct from fees and expenses charged by
...

Item 7: Types of Clients

Meridian provides investment-advisory services to individuals, families, trusts and estates, non-profit
corporations, charitable organizations, and pension and profit-sharing plans.

The minimum dollar value of assets required to set up an investment advisory account with Meridian is
$1,000,000. We have discretion to waive the account minimum. Accounts of less than $1,000,000 can
be set up when we anticipate you will add additional funds to the managed account, bringing the total
to $1,000,000 within a reasonable time. Other exceptions may apply. As a result of our minimum
account size and minimum fee requirements, our services may not be appropriate for everyone.

Meridian Investment Counsel Inc.                                                                    Page 5

Form ADV Part 2A                                                                            March 26, 2026