Rockingstone Advisors LLC

Item 5: Fees and Compensation                                   account.

We provide investment advisory services for your                In cases where we do not manage assets for the span of
portfolio(s) on an individualized basis. We manage each         a full calendar month or quarter, as applicable, fees are
portfolio to comply with your directions given in the           pro-rated from the date of inception or through the
statement of investment policy or in a similar set of           date of termination. Our IAA provides that either party
instructions or guidance provided by you.                       may terminate the IAA at any time with written notice
                                                                to other.
Our management fees for your securities account are
based on a percentage of assets under management                Other Fees
valued on the last day of each calendar quarter. For the        In addition to our management fees, you are
avoidance of doubt, our management fees are not                 responsible for other fees, including brokerage
tiered. Such management fees are payable quarterly              commissions and other costs related to the execution of
and charged in arrears. While it is our general practice        transactions on your behalf by the Custodian, Digital
to have our fees automatically deducted from your               Asset Custodian, or any executing broker. If you elect to
account, you have the option to have us bill you directly.

invest in digital assets, you are responsible for paying a    to compensate brokers), a redemption fee is typically
platform fee for the use of technology interfaces             used to defray fund costs associated with a
designed to facilitate the trading of digital assets and a    shareholder’s redemption and is paid directly to the
commission to the Digital Asset Custodian for executing       fund, not to the broker-dealer. The SEC generally limits
the trade. In the case where a digital asset is unavailable   redemption fees to 2%. In most cases, the funds will use
via the Digital Asset Custodian, there may be third-party     the “first-in, first-out” (“FIFO”) method to determine
exchanges that charge the Digital Asset Custodian             the holding period. Under this method, the date of the
transaction-based exchange fees in connection with the        redemption will be compared with the earliest purchase
purchase and sale of digital assets on those exchanges.       date of the shares held in your account. While it is not
In the event a digital asset transaction is effected on       our general practice to sell securities in your account
such a third-party exchange for your digital asset            that may trigger a redemption fee, you should expect us
account, these transaction-based exchange fees will be        to do so if we believe a sale is in your best interest.
automatically charged to the Digital Asset Custodian by
the third party exchanges from the amount used to pay         A complete explanation of these charges is contained in
for the client’s investment in digital assets. You are also   the prospectus and “Statement of Additional
responsible for any other fees paid to the Custodian.         Information” for each fund, including, but not limited
The Custodian and Digital Asset Custodian disclose            to, prospectuses for mutual funds, ETFs and ETNs, MLPs,
these fees in its disclosure documents, electronic            and REITs and in the subscription agreements
communication, agreements, or its account-opening             associated with firms that custody digital assets.
documents. You are also responsible for margin
                                                              Private Investment Fees
interest, wire transfer fees, safe-keeping fees, and other
                                                              Periodically, Rockingstone Advisors may make advisory
special services provided by any broker-dealer, transfer
                                                              clients aware of third-party private investment
agent, or Custodian. These fees are generally disclosed
                                                              opportunities— including, but not limited to, hedge
by the Custodian at the time you open your account(s)
                                                              funds, private equity or debt funds, or direct
or when the service is requested. See Item 12:
                                                              investments in real estate partnerships or individual
Brokerage Practices for more information.
                                                              businesses. While Rockingstone Advisors generally does
Fund Fees                                                     not charge a fee on these investments if not held at one
Investments in funds that are held by you will incur          of our custodians (with the exception of our OCIO
additional fees, such as internal transaction and             practice), third party managers often do charge a fee,
execution costs, as well as fees that directly compensate     and typically at rates above Rockingstone’s. It is possible
the funds’ investment managers along with internal            that Rockingstone’s principals and its clients may
administrative services. Some funds pay 12b-1 fees,           receive a reduction in such management fees if the
Distribution Fees, and or Shareholder Service Fees to         aggregated investment levels equal or exceed pre-
broker-dealers that offer such funds to their clients.        specified thresholds.
These charges affect the net asset value (“NAV”) of
these fund shares and for this reason are indirectly paid
by fund shareholders like you.                                Item 6: Performance-Based Fees and Side-
Some funds have imposed a redemption fee, which is            by-Side Management
...

Item 7: Types of Clients
                                                              —   Market Risk. The market value of your portfolio’s
                                                                  assets may exhibit price volatility, sometimes
We manage portfolios for individuals, high-net worth
                                                                  rapidly and unpredictably. Global economies and
individuals and families, trusts, retirement plans and
                                                                  financial markets are increasingly interconnected,
limited partnerships. We do not manage any pooled
                                                                  which increases the probabilities that conditions in
investment vehicles. In cases where we serve as an
                                                                  one country or region might adversely impact
Outsourced Chief Investment Officer (OCIO), we may
                                                                  issuers in a different country or region.
select third-party managers (see Item 8). Our clients
reside throughout the United States and Europe.               —   Management Risk. Your portfolio is subject to
                                                                  management risk because it is actively managed by
In general, we require a minimum account size of                  us, and we have responsibilities for more than one
$1,000,000, subject to a waiver at our discretion. If             strategy.
clients elect to invest in digital assets, we require a
minimum digital asset account size of $10,000.                —   Interest rate risk. Changes in interest rates will
                                                                  affect the value of your portfolio’s investments in
Clients that elect to invest in digital assets must               almost all asset classes, but especially in fixed
maintain a digital asset account with the Digital Asset           income instruments. Interest rate risk is greater for
Custodian.                                                        fixed income securities with longer maturities or
                                                                  durations.