Peavine Capital LLC

Item 5: Fees & Compensation
How We Are Compensated for Our Advisory Services

Direct Investment Management

The maximum annual fee charged for our Direct Investment Management service is 1.00%. The fee
assessed the account(s) will be outlined in the Investment Management Agreement. Our firm bills on
cash or cash equivalents, unless otherwise agreed to in writing. Our firm’s fees are billed on a pro-
rata annualized basis quarterly in advance based on the value of the account on the last day of the
previous quarter. Fees will be deducted from the managed account. In rare cases, we will agree to
directly bill clients. As part of this process, clients understand and acknowledge the following:

    a) The independent custodian sends statements monthly showing the market values for each
       security included in the Assets and all disbursements in the account including the amount of
       the advisory fees paid to us;
    b) The client provides authorization permitting us to be directly paid by these terms. We send
       our invoice directly to the custodian; and

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    c) If we send a copy of our invoice to the client, it will include a legend urging the client to
       compare information provided in our statement with those from the qualified custodian.

Sub-Advisory Investment Management

The maximum annual fee charged for our Sub-Advisory Investment Management service is 0.35%
Our firm bills on cash or cash equivalents, unless otherwise agreed to in writing. Our fees are
deducted from client accounts quarterly by the other financial institution who licenses our strategies
and then paid to our firm. The total fee to be charged to the end client, as well as billing procedures,
will be outlined in the agreement signed by the TPIAF’s end client.

Other Fees:

Clients may incur transaction fees for trades executed by their chosen custodian, via individual
transaction charges. These transaction fees are separate from our firm’s advisory fees and will be
disclosed by the chosen custodian. Fidelity Brokerage Services (“Fidelity”) eliminated transaction
fees for U.S. listed equities and exchange traded funds for clients who opt into electronic delivery of
statements or maintain at least $1 million in assets at Fidelity. Clients who do not meet either criteria
will be subject to transaction fees charged by Fidelity for U.S. listed equities and exchange traded
funds.

Clients may also pay an annual custody fee charged by the chosen custodian, holdings charges
imposed by the chosen custodian for certain investments, charges imposed directly by a mutual fund,
index fund, or exchange traded fund, which shall be disclosed in the fund’s prospectus (e.g., fund
management fees, distribution fees, surrender charges, variable annuity fees, IRA and qualified
retirement plan fees, mark-ups and mark-downs, spreads paid to market makers, fees for trades
executed away from custodian, wire transfer fees and other fees and taxes on brokerage accounts
and securities transactions). Our firm does not receive a portion of these fees.

Refunds Following Termination

Advisory fees for our Direct Investment Management service are charged quarterly in advance and
Sub-Advisory Investment Management service are charged quarterly. If a Direct Investment
Management client wishes to terminate our services, we will refund the unearned portion of our
advisory fee to the client. The client needs to contact us in writing and state that they wish to
terminate our services. Upon receipt of the termination letter, we will proceed to close out the
account and process a pro-rata refund of unearned advisory fees.

Commissionable Securities Sales

Our firm and representatives do not sell securities for a commission.

Item 7: Types of Clients & Account Requirements
We have the following types of clients:
   • High Net Worth Individuals;
   • Trusts, Estates or Charitable Organizations; and

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    •    Institutions and other Registered Investment Advisers.

Our requirements for opening accounts or otherwise engaging with us through our Direct Investment
Management service is $20 million. However, exceptions may be made on a case by case basis at the
sole discretion of our firm’s owners.

Clients who opt into electronic delivery of statements or maintain at least $1 million in assets at
Fidelity will not be charged transaction fees for U.S. listed equities and exchange traded funds.