Pilotage Private Wealth AG

Item 5       FEES AND COMPENSATION

                                              Asset Allocation Services

The annual fee for Asset Allocation Services will be charged as a percentage of assets under
management, according to the following schedule:

 Assets Under Management                           Annual Fee (%)
 Up to $1 million                                  1.25%
 $1,000,001 - $2 million                           1.00%
 $2,000,001 - $3,500,000                           0.90%
 $3,500,001 - $6 million                           0.80%
 Over $6 million                                   Negotiable

A minimum of $3,000,000 of assets under management and a minimum annual fee of $12,500 is
generally required for this service. This minimum account size and fee may be negotiable under certain
circumstances. We may group certain related client accounts for the purposes of achieving the minimum
account size and determining the annualized fee.

Client accounts will be directly debited, as authorized, in advance at the beginning of each calendar
quarter based upon the value (market value or fair market value in the absence of market value) of the
client's account at the end of the previous quarter. For those client accounts where portfolio
implementation and trading are handled by a sub-advisor, the sub-advisor will be responsible for directly
debiting the fees from the client’s accounts. In such cases, the sub-advisor will retain a portion of the
fees as compensation for its services and the remainder will be paid to PPW. Clients' annual advisory
fees will not increase as a result of PPW’s selection of a sub-advisor to provide portfolio implementation
services for the client’s account.

As disclosed at Item 12 of this brochure, we have negotiated arrangements with certain broker dealers
and banks for client referrals. Under these arrangements, as deemed appropriate, the broker dealer or
bank will refer certain of its clients to PPW that had previously engaged that entity to provide brokerage
and custodial services as well as investment advice. Referred clients engaging PPW are transitioned from
the referring broker dealer's or banks advisory platform to PPW's. As part of the arrangement with these
broker dealers and banks, PPW aims to charge these referred clients no more than the referring entity

 Pilotage Private Wealth AG /Firm Brochure                                                Page 6 of 16

charged the client for investment advice. As a result, some referred clients may be charged a fee that is
different from the fee schedule disclosed above.

                                             Consulting Services

Fees for consulting will typically be charged in one of two ways:

     1) As a fixed fee, that will depend on the nature and complexity of the client's requirements. Up to
        50% of this fee may be due upon signing the agreement, with the balance due upon completion
        of the consulting work product or presentation of final recommendations to the client.
     2) On an hourly basis, at fair market rates, depending on the nature and complexity of the client's
        requirements, as well as the PPW representative(s) conducting the work. If appropriate, an
        estimate for total hours may be determined at the start of the consulting relationship. Up to 50%
        of the estimated fee may be due upon signing the consulting agreement, with the balance (based
        on actual hours) due upon completion of the consulting work product or presentation of final
        recommendations to the client.

                                             General Information

Negotiability of Fees: In certain circumstances, all fees may be negotiable. We reserve the right to
adjust the fee schedule for accounts depending on the size and type of account and the services
required. In some cases negotiation of fees may result in different fees being charged for similar
services and may be less than the stated fees. In addition, certain family members and personal
acquaintances of PPW’s affiliated persons may receive advisory services at a discounted rate which is
not available to advisory clients generally.

Termination: A client agreement may be canceled at any time, by either party, for any reason upon
receipt of 30 days written notice to the other party. As disclosed above, certain fees are paid in advance
of services provided. Upon termination of any account, any prepaid, unearned fees will be promptly
refunded. In calculating a client’s reimbursement of fees, we will pro rate the reimbursement according
to the number of days remaining in the billing period. Clients always have the right to terminate an
agreement without penalty within five business days after entering into the agreement.

Other Fees and Expenses: All fees paid to PPW for investment advisory services are separate and
distinct from the fees and expenses charged by mutual funds, ETFs to their shareholders. In the case of
mutual funds, these fees and expenses are described in each fund's prospectus. These fees will generally
include a management fee, other fund expenses, and a possible distribution fee. If the fund also imposes
sales charges, a client may pay an initial or deferred sales charge. A client could invest in a fund directly,
without the services of PPW. In that case, the client would not receive the services provided by PPW
which are designed, among other things, to assist the client in determining which fund or funds are most
appropriate to each client's financial condition and objectives. Accordingly, the client should review both
the fees charged by the funds and the fees charged by PPW to fully understand the total amount of fees
to be paid by the client and to thereby evaluate the advisory services being provided.

Additional Fees and Expenses: In addition to PPW’s advisory fees, clients are responsible for the fees
...

Item 7       TYPES OF CLIENTS
PPW provides advisory services to individuals, including high net worth individuals, pension and profit
sharing plans, trusts, estates, charitable organizations, corporations and other businesses.
As previously disclosed at Item 5 of this Brochure, a minimum of $3,000,000 of assets under management
is generally required for this service.