Odlum Brown USA Investment Management Limited

Fees and Compensation
OB USA does not maintain a fixed advisory fee schedule. Advisory fees are determined between
OB USA Portfolio Managers and their clients based on an annual percentage of the value of the
client’s portfolio. The maximum annual percentage is 2%. Advisory fees are payable monthly and
are calculated on the month end value of a client’s portfolio.

Advisory fees are paid to OB USA by the custodian, from funds in the client account. The
custodian will send a statement no less frequently than quarterly indicating all amounts
disbursed from the account including the amount of advisory fees paid to OB USA.

If for any reason the investment advisory relationship between OB USA and a client is terminated
as of any date other than the last business day of the applicable payment period, a pro-rated
advisory fee will be charged.

The amount and method of calculating advisory fees, administration fees and service charges
will not change unless OB USA gives clients at least 60 days’ written notice prior to the date on
which any change is to become effective.

Payment of advisory fees, administration fees and service charges may result in the liquidation
of securities if sufficient cash in the account is not available.

OB USA does not accept performance-based fees. Trade execution charges are absorbed by OB
USA.

The administration fees and service charges applied to all client accounts are as follows:

 Bank Drafts                                     $60 per item
 Wire Transfer Canadian                          $25 per transfer
 Wire Transfer U.S.                              $30 per transfer
 Wire Transfer Foreign                           $40 per transfer
 Dishonored Payment (NSF)                        $40 per item
 Stop Payment                                    $20 per item
 Certificate Withdrawal                          Third Party Costs (Ordinarily range from $100 to $400)
 Replacement of Lost Certificate                 $100 per certificate plus Indemnity Fee if applicable
 Statement Reprint / Records Search /            $40 per request*
 Certificate Records Search
 Foreign Dividend Tax Reclamation                $30 plus cost per claim (Subject to minimum claim)
 Estate Processing                               $240 per account (Hourly and third-party costs may apply)
 Account Transfer Out                            $120 per account
 Unclaimed Account Charge                        $240 annual fee per account
 Inactive Account Charge**                       $240 minimum annually

All charges are subject to applicable taxes.
*Applies to each calendar year requested on items such as account statements and tax receipts. All fees are in
Canadian dollars.
**Odlum Brown reserves the right to charge an inactive account fee. The account holder will be notified of the fee
amount, no less than 60 days prior to being charged.

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Types of Clients
OB USA provides investment advisory management services to individuals, estates, trusts,
corporations and similar entities.

Methods of Analysis, Investment Strategies and Risk of Loss
Method of Analysis, Sources of Information and Investment Strategies
OB USA and its Portfolio Managers primarily utilize a fundamental approach investment analysis.
When conducting research in order to identify equities for client portfolios, a primary method
used is to set up screens or searches for issues that have desirable basic criteria such as a low
price-to-earnings ratio, a strong balance sheet, a high return on equity, or low price-to-sales
ratios, etc. Many such searches and resulting OB USA selections will have the characteristics of
models chosen to suit the OB USA investment style. Once a security is identified as a potential
candidate for investment, the OB USA Portfolio Manager researches the company, industry
sector, competitive position and other relevant factors as determined appropriate in order to
decide whether it is suitable for inclusion in one or more OB USA client portfolios.

Investment Strategies
OB USA offers a client continuous investment advice including making investment decisions
based upon the individual investment objectives of a client in accordance with the Odlum Brown
USA New Client Investment Management Account Application Form and Investment
Management Agreement.

The methods OB USA uses to invest money will vary with time frame, size of account, investment
objectives and risk tolerance. Resulting investments will include individual securities selected to
achieve the client’s investment objectives and may include equities, bonds, money market
instruments and/or GICs.

OB USA believes quality to be the first consideration in selecting bonds and income-producing
investments. OB USA also looks for situations where not only can there be income but also
growth in the value of the securities. For example, OB USA seeks issues that may have improving
credit qualities or convertible securities that could become more valuable in the future.

Client Risk
Past performance of any security is not indicative of future results. Investments in the securities
markets are subject to market fluctuation and financial risk, which may include loss of capital.