Millennial Advisers LLC

Item 5 – Fees and Compensation

Our fee for advisory services is negotiated between the retail client and the Investment Advisor Representative and will
generally range from 0.50% to 2.00%. This fee is calculated based on your “account value,” which means the value of your entire
portfolio inclusive of the market value of positions held on margin, if any. Our fee will be prorated and deducted monthly or
quarterly in arrears on or shortly after the last business day of the month or quarter, either based on the account value on the
last business day of the preceding calendar month or quarter or based on the average daily balance during the preceding month
or quarter depending on your account custodian. The advisory fee may be increased by Millennial upon advance written notice
to the client.

Millennial Advisers receives the advisory fee charged to the client, a portion of which is paid to the IAR pursuant to an
agreement between Millennial and the IAR.

If assets are allocated to a third party money manager, you will incur additional fees charged by that money manager as disclosed.

The fee does not include any transaction fees, brokerage commissions or other fees associated with any transaction or account.

In a Fee Based Advisory account held at StoneX or Interactive Brokers, where Allied is the broker-dealer, you will pay Allied up to
a $4.95 transaction fee/ticket charge each time you buy or sell a security. Allied is not the broker-dealer on Fee Based Advisory
accounts at Schwab and therefore you do not pay the $4.95 transaction fee/ticket charge each time you buy and sell a security
at Schwab

Trade execution and trade clearance fees are typically charged on each transaction by the clearing firm that holds your account, as
determined by the clearing firm. StoneX and Interactive may share some of these charges with Allied. The cost of these fees will
vary based on the type of transaction, the product type, and the size of the trade. Option trades incur a per contract fee. The
clearing firms provide their fee schedule to you when you open an account and periodically thereafter. Please note that these
transactions fees will be in addition to the aforementioned fixed transaction fee/ticket charge. Information about Millennial’s
advisory services and fees is available in the investment advisory agreement and Form CRS.

The clearing firm that maintains the advisory account charges certain fees according to a fee schedule provided by the clearing
firm when an account is opened, when the fee structure is amended and periodically thereafter. The fees may include but not be
limited to periodic account maintenance or Individual Retirement Account (“IRA”) custodial fees, as well as processing, service,
and account fees upon certain events or occurrences. A client will incur interest charges if they borrow on margin or through a
securities-based loan. Certain investments, such as mutual funds, have embedded fees that are generally paid by the client to the
companies that sponsor, manage, or promote the investment. These fees may be paid to Allied and/or the clearing firm holding
your account.

Millennial Advisers does not charge an asset management fee on annuities.

The fees charged to family members of associated persons of the Firm, or its affiliates may be lower than fees charged to other
clients, or no fees may be charged at all.

Non-owner registered representatives of Allied will not receive a commission for executing transactions for clients of Millennial
Advisers in accounts held with Millennial Advisers LLC.

Item 7 – Types of Clients

Millennial Advisers provides advisory services to individuals and entities such as trusts, estates, corporations, and other business entities,
and to affiliated Private Funds.