Quantel Asset Management LLC

Item 5: Fees and Compensation

Quantel receives compensation for its investment related services through either flat fees or fees
determined by a client's assets under management with Quantel, depending on the specific services chosen
by the client. Clients have the option to select one or more services provided by the firm via the Quantel
platform.

    A. INVESTMENT MANAGEMENT SERVICES:

       Management Fees:
       Quantel charges an annual management fee typically ranging between 0.5% and 2.0% of a
       client’s assets associated with the Quantel Platform and managed with discretion by Quantel
       as part of the above portfolio management services. The exact fee rate is influenced by factors
       such as the client's investment goals, minimum investment threshold, risk tolerance, and other
       suitability criteria. The fees are agreed at the time of account setup and will not be modified
       without the customer’s signed consent.

       Asset-based fees are based either on the market value of such assets managed by Quantel as
       of the last day of the calendar month or on the average daily value of the account managed
       over a calendar month.

       Typically, the Management Fee is non-negotiable. However, Quantel reserves the right to, at its
       discretion to waive, reduce, or adjust the Management Fee for new customers without prior
       notice or consent from existing customers.

       Performance Fees:
       For qualified clients, Quantel may offer higher tiered accounts with access to specialized
       strategies with higher minimum investment requirements. For these accounts, Quantel may
       charge in its own discretion, an annual performance-based allocation (“Incentive Allocation”),
       ranging from 10% to 20%, on realized and unrealized income and gains of the account, subject
       to a high watermark, as described in the Offering Documents.

       In the event that the investment advisory relationship is terminated (or funds are withdrawn or
       redeemed) other than at the end of a performance allocation calculation period, such
       termination (or withdrawal or redemption) date shall typically be treated as the end of a
       performance allocation calculation period.

       Other Charges:
       In addition to the fees charged by Quantel, clients may incur brokerage and other transaction
       costs. Please refer to Item 12: Brokerage Practices, for further information on such brokerage
       and other transaction-related practices. Clients will also typically incur additional fees and
       expenses imposed by independent and unaffiliated third-parties, which can include qualified
       custodian fees, mutual fund or exchange traded fund fees and expenses, mark-ups and mark-
       downs, spreads paid to market makers, wire transfer fees, check-writing fees, early-redemption
       charges, certain deferred sales charges on previously-purchased mutual funds, margin fees,
       charges or interest, IRA and qualified retirement plan fees, and other fees and taxes on
       brokerage accounts and securities transactions. These additional charges are separate and apart
       from the fees charged by the Quantel.

    B. INVESTMENT ADVISORY SERVICES:

    Non-Discretionary Investment Advisory services:
    The Non-Discretionary Investment Advice tier incurs either a fixed fee within the range of
    $29.99 to $499 per month or a variable tiered fee ranging from 0.15% to 0.30% of assets
    under non-discretionary advisory. The tiered fees are determined by the amount of assets
    under advisory and the level of service provided. Fees can be charged on a monthly or
    annual basis according to the customer's preference, paid in advance of service. The fee
    structure is agreed upon with the signed consent of the client before the services are
    offered and will not be modified without the signed consent of the customer.

    If Quantel or client terminates the advisory agreement before the end of a monthly billing
    period, Quantel’s fees will be prorated through the effective date of the termination. The pro
    rata fees for the remainder of the quarterly billing period after the termination will be refunded
    to clients for clients billed in advance. For clients that are billed in arrears, the pro rata fees
    earned through the effective date of the termination will be billed to the client.

C. INVESTMENT OUTLOOK SERVICES:

    Publication of periodicals or newsletters:
    Security ratings or pricing services:

    As part of the above Investment Outlook services, clients are charged a fixed rate ranging
    from $9.99 to $39.99 per month, paid in advance (typically following a free promotional
    period disclosed to the client upon engagement). The actual fees are determined by a tiered
    plan that includes a choice of features the client can choose from. Fees are deducted
    monthly in advance or arrears based on the service tier as described above.

D. SUBSCRIPTION SERVICES:
   Both a monthly charge for Investment Advisory Services described in section B above
   as well as Investment Outlook Services described in section C above are subscription
   based services. Subscriptions can be chosen on a monthly renewal basis or on an
   annual renewal basis. A discount is usually applied for annual subscriptions.

    Once a payment has been made for the current term, it is non-refundable. However,
    customers have the freedom to cancel renewals of premium services for future
    periods before the start of the next term. This policy ensures the continuation of our
    commitment to providing exceptional investment guidance while offering flexibility in
    subscription management.

E. In general, neither Quantel nor any of its supervised persons accepts compensation
   for the sale of securities or other investment products. If there are exceptions to this, a
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Item 7: Types of Clients

Quantel generally provides its services to mass-affluent individuals, high net-worth individuals, ultra-
high net-worth individuals and corporations. Quantel does not have a minimum account value required
to open or maintain an account. However, Quantel may require a minimum investment amount to invest
in certain specialized strategies.