Outwing LLC

Item 5 Fees and Compensation

Asset Management Fees
Pursuant to an Investment Advisory contract signed by each client, the client will pay Outwing an
annual management fee (based on a 365/366 day calculation convention) that ranges from 0.40%
to 1.50% depending on the type and complexity of the investment management strategy employed
as well as the size of the account or overall client relationship. The fee is payable quarterly in
advance, based on the value of portfolio assets of the account managed by the Advisor as of the

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end of the previous quarter. The management fee may be adjusted to account for all contributions
or withdrawals made to the account during the quarter. New account fees will be prorated from
the inception of the account to the end of the first quarter. Prorations will also be calculated using
a 365/366 day calculation convention.

These fees may be negotiated by Outwing at its sole discretion. The client will give written
authorization permitting the Advisor to be paid directly from their account held by the custodian.
The custodian will send a statement at least quarterly to the client. Where it is not practical to
deduct fees directly from client accounts, client will be sent an invoice at the beginning of each
quarter. The invoice is payable upon receipt.

Where Outwing utilizes a managed accounts platform to select third party money managers, the
platform fee will range from 0.15% to 0.70% annually (in addition to Outwing’s fee) depending
on the size of the account, the investment strategy and the third party money manager selected. In
no event will combined fees exceed 2.00% annually.

Fixed Fees
Outwing will charge a fixed fee for comprehensive financial planning and investment advisory
services of up to $5,000 per month depending on factors such as the complexity of the services
required and the overall size and nature of the client relationship. Fixed fees may be negotiated in
advance based at the discretion of the Advisor. Fixed fee-based clients are billed on a quarterly in
advance.

Family Office Services Fees
Outwing offers its services for a fixed annual fee ranging up to $360,000, or an annual percentage
of total assets advised upon, ranging from 0.10% to 0.40%. Fees are based on the nature,
complexity, and size of each relationship. Fees will be payable quarterly in advance. Fees may be
negotiable at the sole discretion of the Advisor. All securities held in accounts managed by
Outwing will be independently valued by the Custodian. Outwing will not have the authority or
responsibility to value portfolio securities.

All fees paid to Outwing for investment advisory services are separate and distinct from the
expenses charged by mutual funds to their shareholders and the product sponsor in the case of
variable insurance products. These fees and expenses are described in each fund’s or variable
product’s prospectus. These fees will generally include a management fee and other fund
expenses.

At no time will Outwing accept or maintain custody of a client’s funds or securities except for
authorized fee deduction. Client is responsible for all custodial and securities execution fees
charged by the custodian and executing broker-dealer. The Advisor’s fee is separate and distinct
from the custodian and execution fees.

Outwing’s management and fixed fees are payable in advance. Upon termination, any fees paid
in advance will be prorated to the date of termination and any unearned fees will be refunded to
client.

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Where acting in the capacity of a registered representative or insurance agent, investment advisor
representatives (IARs) of Outwing may as broker or agent effect securities or insurance
transactions for typical and customary compensation. This practice presents a conflict of interest
by creating an incentive to recommend investment products based on the compensation received,
rather than on a client’s needs. Clients of Outwing are not required to utilize the IARs in their
capacity as registered representatives of the broker-dealer or in their capacity as insurance agents
for the purchase of investment products. Outwing has established a Code of Ethics to address
conflicts of interest. See the response to Item 11 below for more information on the Code of
Ethics. A client may be able to invest in products recommended by the firm directly, without the
services of Outwing. In that case, the client would not receive the services provided by Outwing
which are designed, among other things, to assist the client in determining which products or
services are most appropriate to each client’s financial condition and objectives. Commissions
from the sale of investment products do not represent 50% or more of the revenues received by
Outwing. Outwing does not charge advisory fees on client assets invested through the broker-
dealer or on insurance products.

Item 7 Types of Clients

The Advisor will offer its services to individuals, pension and profit sharing plans, trusts, estates,
charitable organizations, corporations and other business entities.

The Advisor does not have any minimum requirements for opening or maintaining an account.

The Advisor requires that its clients that are subject to performance fees, be qualified clients by
investing either $1.1 million with Outwing or they have a net worth of at least $2.2 million
excluding the equity in their primary residence.