Offit Capital Advisors LLC

Fees and Compensation
Fee Policy for Clients

Offit Capital requires Clients to enter into an advisory or management agreement with which,
among other things, details the nature of the advisory or investment management relationship and
the fee structure. In general, Offit Capital charges an annual advisory fee that shall be agreed
upon in advance with the Client depending on the term of each Client’s agreement. Fees are
generally charged quarterly in advance on a sliding scale based on a percentage of assets under
management. Offit Capital typically invoices Clients for fees but may also directly debit certain
Client accounts for fees incurred.

The fee schedule generally ranges from 0.25% to 1.00% depending on the services provided.
Offit Capital has in the past and may in the future, in its discretion, waive or rebate any management
fee for any Client without entitling other Clients similar waivers or rebates, including for Clients
who are employees and their families. Offit Capital’s annual advisory fee covers all of the
services it provides to Clients which select the annual advisory fee. Offit Capital does not charge
separately for the various services it provides those accounts.

Clients will incur brokerage and other transaction costs in addition to the advisory fees discussed
above. Please refer to the Brokerage Practices section of this brochure for additional information.
An Offit Capital 0.01% operating pass-through expense is charged to internally managed fixed
income accounts each month.

A Client may terminate Offit Capital’s services at any time upon written notice to Offit Capital.
On such a termination, the Client receives a pro-rata refund of pre-paid fees based on the number
of days remaining in the period for which the fees were paid.

Fee and Expense Policy for the Offit Capital Funds

Fees and allowable expenses for the Offit Capital Funds are disclosed in each Offit Capital
Fund’s confidential offering documents. Offit Capital generally does not charge management or
incentive fees on capital accounts owned by investors in the Offit Capital Funds who are also
Clients. For investors or shareholders in the Offit Capital Funds who are not Clients (referred to
as “external investors”), Offit Capital generally charges the capital account of external investors
a fee based on assets under management that may range from 0.25% up to 0.50% depending on
the Offit Capital Fund and the amount of investment. Offit Capital may, in its discretion, waive
or rebate any or all of the management fee for any capital account or shareholder without entitling
other capital accounts or shareholder a similar waiver or rebate.

Each Offit Capital Fund is responsible for all expenses attributable to it, including investment-
related expenses, legal and accounting expenses, including the compensation of any accounting
and operations staff that is an employee of Offit Capital but solely to the extent that such cost is
attributable to work performed for the benefit of the Offit Capital Fund, investor reporting
expenses, audit and tax preparation expenses, filing and government fees, program fee (if
applicable) as well as other expenses that are specified in the Offit Capital Fund’s confidential
offering documents. A full description of expenses can be found in the confidential offering
documents for the relevant Offit Capital Fund.

The Offit Capital Funds regularly invest in other financial products that charge fees including
management fees or performance fees to the Offit Capital Funds such as money market funds,
exchange traded funds, mutual funds, other private investment vehicles, or through a separately
managed account with an unaffiliated investment adviser. As a result, investors or shareholders
will indirectly bear such fees through their investment. Private investment vehicles and/or
separately managed accounts may pass various expenses through to the vehicle or account (and
as such, indirectly to Offit Capital Fund investors) including, but not limited to, investment-related
expenses, trading expenses, legal expenses, accounting and audit expenses, administrative
expenses, insurance expenses, management and incentive fees, and other expenses.

Performance Based Fees and Side-by-Side Management
Offit Capital does not charge performance-based fees to Clients or Offit Capital Funds.

The Offit Capital Funds invest in other pooled vehicles or separately managed accounts advised
by third-party managers (the “Underlying Managers”). Such Underlying Managers maintain
their own advisory fee structures that could include performance-based compensation and result

in potential conflicts of interest regarding investment selection. The fact that Underlying
Managers are compensated based on profits creates an incentive for the managers to make
investments which are riskier or more speculative than would be the case in the absence of such
compensation.

Types of Clients
Offit Capital primarily provides customized investment advisory services to individuals,
associated trusts, estates, or charitable organizations and corporations and business entities. Offit
Capital also provides investment advice to the Offit Capital Funds which are available only to
investors who meet the definition of a “qualified purchaser” as the term is defined in the
Investment Company Act of 1940. In addition, Offit Capital participates in an advisory program
sponsored by an insurance company by providing portfolio management services.

Offit Capital generally requires a minimum commitment of $50 million to establish a Client
relationship. Offit Capital may accept a lower commitment in its discretion without making a
lower commitment available to other Clients.

External investors in the Offit Capital Funds are generally required to commit a minimum of $1
million in capital. Offit Capital may at its discretion accept investments below that amount
without making such exceptions for other investors.

Methods of Analysis, Investment Strategies and Risk of Loss
Offit Capital’s investment strategy is to identify investment advisers, mutual funds, private
investment funds, and other securities that are believed to be compatible with Client investment
objectives, risk tolerances, and other criteria. For most non-discretionary accounts, Offit Capital
recommends that its Clients participate in the investment opportunities that it believes are
appropriate and the Client ultimately decides whether or not to participate in those investments.
For certain non-discretionary accounts (e.g., accounts focused on digital or virtual currencies),
the Client instructs Offit Capital to purchase certain instruments and directs Offit Capital how to
trade such instruments in their accounts. For discretionary accounts, Offit Capital recommends
that its Clients participate in the investment opportunities that it believes are appropriate and
transacts in such securities for the account.

Offit Capital provides investment advisory services that relate to matters such as asset allocation
among asset classes, portfolio diversification, managing portfolio risk, and other general
economic and financial topics. Offit Capital typically recommends capital allocations to
Underlying Managers via separately managed accounts or through direct investments in pooled
investment vehicles managed by the Underlying Manager. Underlying Managers generally have
discretion to trade, buy, sell and otherwise acquire, hold, dispose of and deal in, on margin or
otherwise all types of securities (including, without limitation, long positions or short sales, on
margin or otherwise, listed or unlisted), such as equities, bonds, debentures, money market
obligations and options to buy and sell securities (both U.S. and non-U.S.), or commodities, futures
contracts, cash and forward contracts, options on physical commodities, swaps, derivatives
(including, without limitation, all forms of options whether listed or unlisted) and any other rights
or interests.

Additionally, Offit Capital recommends specific securities to Clients for which it maintains
discretionary investment management and trading discretion. Offit Capital’s security-specific
recommendations for discretionary accounts generally include equity and fixed income securities
(e.g., municipal bonds, preferred stock, corporate bonds, mutual funds, etc.) and exchange traded
funds. Based on a specific Client’s Investment Policy Statement, Offit Capital may have discretion
to purchase additional types of securities.

Offit Capital may also make a recommendation with respect to the sale of a specific security
when a new Client’s portfolio contains “legacy investments” that Offit Capital feels are no longer
appropriate.

Offit Capital utilizes a proprietary due diligence process in the course of recommending
investment advisers, mutual funds, private investment funds, and other securities to Clients. Offit
Capital utilizes financial newspapers and magazines, research materials prepared by others and
SEC filings, among other resources, as part of the research process. Certain employees of Offit
Capital conduct quantitative and qualitative analysis of the target investment and create
electronic due diligence files which document their analysis. Offit Capital generally meets with
the management of an investment adviser or private investment fund in person or via telephone
initially and periodically.

As with all investment programs, investments in any securities involve the risk of loss of capital.
Clients must be aware of the risk of such loss. All advisers are affected by general economic and
market condition risks, such as global and local economic growth, interest rates, availability of
credit, credit defaults, inflation rates, economic uncertainty, changes in laws (including laws
relating to taxation of clients’ investments), trade barriers, currency exchange controls, and
national and international political circumstances (including wars, terrorist acts or security
operations), and pandemics (i.e., coronavirus). These factors may affect the level and volatility
of the prices and the liquidity of Clients’ investments. Volatility or illiquidity could impair
Clients’ profitability or result in losses.

Private investment opportunities involve a substantial degree of risk as a result of business,
financial, market, and/or legal uncertainties. Clients who may participate in such opportunities
must understand that there can be no assurance that Offit Capital and its investment advisory
personnel will correctly evaluate the nature and magnitude of the various factors that could affect
the value of such private investments. Such investments are typically highly illiquid, difficult to
price (i.e., may have to be fair valued), and subject to volatile market movements and a variety of
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