Pivotal Advisors LLC

ITEM 5: FEES AND COMPENSATION

Investment Advisory and Asset Management Services

Pivotal offers its services on a fee basis which, depending upon the engagement, may include fixed
fees and/or fees based upon assets under management (provided that different fees may be
negotiated depending on the nature and complexity of a client’s situation). The specific manner in
which fees are charged is established in the client’s agreement with Pivotal.

PIVOTAL ADVISORS LLC                                                                    Page 7 of 15

The fees for asset allocation review are charged as a percentage of assets under management as a
part of the investment advisory services for clients. The factors considered are the size of the
account, service requested and the type of assets managed.

The annual fee for Pivotal’s investment advisory services will be charged as a percentage of assets
under management, according to the following schedule:

              Assets Under Management                            Maximum Annual Fee (%)
                  $0 - $10,000,000                                      1.00%
              $10,000,000 - $20,000,000                                  .75%
                    $30,000,000+                                        .50 %

Consulting services are charged on a fixed fee basis, depending on the nature and complexity of
each client’s needs.

A minimum of $5,000,000 of assets under management is required for this service. This minimum
account size may be negotiable under certain circumstances.

Clients are billed on either a quarterly or monthly basis. Generally, fees will be billed at the end
of each calendar month or 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 month or quarter.

We may charge fees in advance for retirement plan consulting.

Consulting services with respect to impact investments are charged a fee of 1.00% of the amount
designated for the impact investment (provided that different fees may be negotiated depending
on the nature and complexity of a client’s situation).

Retirement Plan Consulting

Pivotal provides fiduciary consulting services to ERISA plan sponsors. For these advisory
services, compensation is derived as fee income based upon the percentage of assets under
advisement ranging up to 1.5% subject to a minimum annual fee of $10,000. The compensation
method is explained and agreed with clients in advance before any services are rendered. The
amount of the fee is negotiated on a case-by-case basis with each client, and is determined by a
number of factors including, among other things, the size and type of the account, and the relative
complexity of servicing the account. In lieu of the asset-based advisory fee, clients have the
alternative option of obtaining Pivotal’s service on an a la carte basis for a fixed fee depending on
the service requested.

Termination Provisions, Refunds and Assignment

Prior to engaging Pivotal to provide consulting services, the client will generally be required to
enter into a written agreement with Pivotal setting forth the terms and conditions of the engagement
and describing the scope of the services to be provided.

A client agreement may be cancelled at any time, by either party, for any reason upon receipt of
30 days written notice. Upon termination of any account, any prepaid, unearned fees will be

PIVOTAL ADVISORS LLC                                                                  Page 8 of 15

promptly refunded, and any earned, unpaid fees will be due and payable. The client has the right
to terminate an agreement without penalty within five business days after entering into the
agreement, or at any time.

Neither Pivotal nor the client may assign the agreement without the consent of the other party.
Transactions that do not result in a change of actual control or management of Pivotal shall not be
considered an assignment.

Pivotal, in its sole discretion, may charge a lesser investment advisory fee, charge a flat fee, or
waive its fee entirely based upon certain criteria (i.e. anticipated future earning capacity,
anticipated future additional assets, dollar amount of assets to be managed, related accounts,
account composition, complexity of the engagement, grandfathered fee schedules, Pivotal’s
employees and family members, courtesy accounts, large cash positions not currently intended for
investment, competition, negotiations with client, etc.). Please Note: As result of the above,
similarly situated clients could pay different fees. In addition, similar advisory services may be
available from other investment advisers for similar or lower fees.

ANY QUESTIONS: Pivotal’s Chief Compliance Officer, Tiffany McGhee, remains available
to address any questions that a client or prospective client may have regarding advisory fees.

ITEM 7: TYPES OF CLIENTS

Pivotal provides advisory services to high net worth individuals, families, trusts, estates, charitable
institutions, foundations, endowments, small businesses, retirement plan sponsors, family offices
(e.g. 401a, 401k, 403b, 457f plans), and similar entities which desire a high degree of personalized
and professional service. While this amount is negotiable, the minimum asset requirement to
become a Pivotal client is $5,000,000.

Pivotal, in its sole discretion, may charge a lesser investment advisory fee, charge a flat fee, or
waive its fee entirely based upon certain criteria (i.e. anticipated future earning capacity,
anticipated future additional assets, dollar amount of assets to be managed, related accounts,
account composition, complexity of the engagement, grandfathered fee schedules, Pivotal’s
employees and family members, courtesy accounts, large cash positions not currently intended for
investment, competition, negotiations with client, etc.). Please Note: As result of the above,
similarly situated clients could pay different fees. In addition, similar advisory services may be
available from other investment advisers for similar or lower fees.

ANY QUESTIONS: Pivotal’s Chief Compliance Officer, Tiffany McGhee, remains available
to address any questions that a client or prospective client may have regarding advisory fees.

PIVOTAL ADVISORS LLC                                                                    Page 9 of 15