Metaurus Advisors LLC

ITEM 5 – FEES AND COMPENSATION

Again, current and potential investors are cautioned that this Brochure, including the information
contained in this Item 5, is qualified in its entirety and superseded by each respective client
account’s Offering Documents.

General Information of Fees

Fees and compensation paid to Metaurus for managing the Pacer Metaurus Funds, the SMAs,
and the Commodity Fund generally include, but may not be limited to, management fees that are
calculated as a percentage of assets under management for the particular client account. In
addition, an SMA and the Commodity Fund each pay a performance-based incentive allocation
based on net capital appreciation (after taking into account the management fee).

Future fee agreements will vary by client and will be based on several factors, including, without
limitation, investment mandate, services performed, and account/relationship size.

To the extent permitted under the Investment Advisers Act of 1940, as amended (the “Advisers
Act”), or the applicable provisions of the Investment Company Act of 1940, as amended (the
“Investment Company Act”), in the case of investment companies registered under the
Investment Company Act and advised or sub-advised by an Adviser, Metaurus may negotiate
and charge performance fees, as well as asset-based fees, for certain clients. Any incentive
allocations allocated to Metaurus or its affiliates comply with the requirements of Section 205 of
the Advisers Act, and Rule 205-3 thereunder. Metaurus or its affiliates may waive (and have done
so) some or all of the portion of the management fee and incentive allocation that is allocable to
certain investors in its private pooled investment vehicles, such as, without limitation, Metaurus’
affiliates, Metaurus’ employees, members of their immediate family and their lineal descendants,
trusts or other entities established for their benefit and family or other foundations established by
such persons or other strategic investors. The fees and allocations applicable to a particular fund
are detailed in each fund's offering memorandum.

The Firm provides advisory services to investment companies, pooled investment vehicles, and
institutional clients, including foundations and sub-advisory mandates.

Additional information is provided in Item 7 (Types of Clients) of this Brochure. Other fee and
allocation structures may include, without limitation, fixed, fixed plus performance, or performance
only. Certain fixed fees may be required to be paid upfront. For an additional discussion of
performance-based fees and allocations, please refer to Item 6 (Performance-Based Fees and
Side-by-Side Management) of this Brochure.

Fees and account minimums may be negotiable and may differ materially from the general range
of fees outlined below. They may vary from client to client and are subject to modification without
notice to other clients or investors. Fees charged to one client account may be materially different
from another client account, regardless of how similar the two investment mandates, strategies,
etc., are to each other.

Fee Schedules

US Exchange-Traded Products and Registered Funds

The prospectuses for the currently-offered funds set forth the applicable fees and expenses. The
Pacer Metaurus Funds each pay a management fee of 0.60%, computed daily and paid monthly,
based on a percentage of each fund’s average daily net assets. Metaurus, as sub-adviser,
receives a portion of those fees. Please see the prospectus of the relevant fund for additional
details concerning fees and expenses.

Institutional Separately Managed Accounts

Metaurus fees for managing an Institutional Client’s separately managed account are determined
through individual negotiations and will be documented in the particular IMA with the client,
including any fees, expenses or other charges incurred by any mutual fund, ETF, or other pooled
investment vehicles (including funds or vehicles managed by a Metaurus affiliate) in which the
account invests. Such fees are generally based on a percentage of net assets under management
in the account or the notional amount of the securities in the account and as set forth in the
particular IMA with the client. Certain SMAs may also pay a performance-based incentive
allocation, as set forth in the SMAs offering documents.

Private Pooled Investment Funds

Metaurus’ investment management fees and performance-based incentive fees and allocations
are set forth for private pooled investment vehicles are set forth in the current confidential private
offering memorandum or prospectus of each of the vehicles that it advises, and the applicable
investment management agreements or partnership agreements. The Commodity Fund
generally pays Metaurus or its affiliates an annual management fee equal to 1% of each limited
partner’s share of the fund’s NAV, calculated quarterly and payable quarterly in arrears.
Generally, at the end of each fiscal quarter or upon the withdrawal of an investor, Metaurus or its
affiliates is entitled to an incentive allocation in an amount equal to 20% of the net capital
appreciation of each limited partner’s capital account, after taking into account the management
fee debited to such capital account, and subject to a loss carryforward mechanism. These fees
and allocations, as well as additional fees and expenses paid by the fund (and therefore by its
investors) are described more completely in the fund’s Offering Documents.

Item 6, below, provides more information about performance-based incentive fees and
allocations. Investment management fee arrangements are established through written
investment management and investment advisory agreements between Metaurus and each of its
clients. Metaurus and/or its related persons have the discretion to waive or modify (and has
waived or modified) fees and/or incentive allocations with respect to certain clients and/or
...

ITEM 7 – TYPES OF CLIENTS

Metaurus’ advisory clients are the Pacer Metaurus Funds, the SMAs, and the Commodity Fund
to which Metaurus provides investment advice. Metaurus generally provides advice to
Institutional Clients, private pooled investment vehicles, separately managed accounts, and ETFs
(as adviser and/or sub-adviser). The organizational and/or offering documents for each of these
clients’ accounts set forth the required minimum amounts for investment by investors in them.

Metaurus may serve as the investment adviser/sub-adviser for other clients, entities or accounts
in the future including, without limitation, to ETFs, registered investment companies, single-
investor funds, discretionary and non-discretionary advisory programs, private pooled investment
vehicles, other investment advisers, and to individuals and institutional investors through separate
account management. Clients may include institutional clients, including foundations, investment
companies, and pooled investment vehicles.

Metaurus typically requires a minimum investment and account size of $20 million for non-pooled
investment vehicles and accounts. Metaurus may modify or waive this minimum investment in its
sole discretion, on a case-by-case basis.