Panteles Advisors LLC

Item 5: Fees and Compensation
Panteles Advisors offers investment advisory services, please review the fee and compensation information
below.

Investment Management Fee Structure
Our investment management fees are negotiated and unless negotiated otherwise, are charged quarterly, in
arrears, and are based on the market value of the assets being managed (aum) and/or the assets under advisory
(aua) at the end of the quarter, and will not exceed 1.00% of the assets under management (aum) and/or assets
under advisory (aua).

For qualified-investor clients, the advisor may instead agree to (i) a negotiated flat fee in lieu of a market-
value-based fee, and/or (ii) a performance-based fee or similar incentive structure calculated on returns
exceeding a mutually negotiated preferred return, in each case as permitted under applicable regulations and
fully described in the client’s advisory agreement.

The Panteles Advisors investment advisory contract can be terminated by the client without penalty within five
(5) business days of the signing of the investment advisory contract and the client will not be responsible for
advisory fees incurred during that time.

Either party, upon thirty (30) days written notice to the other, may terminate the investment management
services agreement in accordance with the terms of the agreement for services. Investment management
fees, charged in arrears prior to the end of the billing period, will be prorated for the billing period in which the
termination notice is given and any unearned fees will be refunded to the client, if applicable.

Lower fees for comparable services may be available from other sources.

Investment Advisory Fee Billing
Panteles Advisors instructs the qualified custodian to deduct advisory fees from the client’s advisory account(s)
at the end of each quarter. Panteles Advisors may also send an invoice directly to the client for payment of
advisory fees. The qualified custodian provides clients with account statements, at least quarterly, reflecting the

deduction of advisory fees and all other account activity. Clients are encouraged to review the custodian’s
statements to verify the accuracy of fee deductions.

Panteles Advisors instructs the qualified custodian to deduct advisory fees from the client’s advisory account(s) at
the end of each quarter. Panteles Advisors may also send an invoice directly to the client for payment of advisory
fees. The qualified custodian provides clients with account statements, at least quarterly, reflecting the deduction
of advisory fees and all other account activity. Clients are encouraged to review the custodian’s statements to
verify the accuracy of fee deductions.

Other Fees and Expenses
Panteles Advisors does not charge additional fees other than the fees listed above and/or negotiated.

Panteles Advisors does not receive or share any additional fees or expenses incurred by advisory clients.

Panteles Advisors clients will incur brokerage and other transaction costs by the custodian. Panteles Advisors
does not receive these fees nor does it share in these fees; see Item 12 for additional information.

Lower fees for comparable services may be available from other sources.

Item 7: Types of Clients
Panteles Advisors clients can include: individuals, high net worth individuals, business entities, trusts, estates,
and charitable organizations. Panteles Advisors does not require an annual minimum fee or asset level for
investment advisory or investment planning services.