Sand Hill Global Advisors LLC

ITEM 5: FEES AND COMPENSATION

Wealth Management Fees

SHGA’s revenues from wealth management Clients are derived solely from fees assessed based on the
aggregate value of Client’s assets under SHGA’s management (“AUM”) as described below.

Our Wealth Management Fees are assessed quarterly for the Firm’s wealth management services, which
includes and incorporates financial planning services, investment management services, and other
financial advice. SHGA charges an annualized quarterly management fee based on a percentage of the
quarter-end trade date value of the Client’s AUM as calculated by the qualified custodian in accordance
with the fee memorialized in Client’s Wealth Management Agreement. The quarterly fee amount due is
calculated by multiplying the Client’s AUM as of quarter-end by the annual advisory fee rate divided by
four (4).

        Illustrative Example Only: The Wealth Management Fee for the first quarter of a calendar
        year for a Client with $1,000,000 in AUM valued on 12/31 would be assessed the following
        assuming a 1% Wealth Management Fee during the first quarter of the year:
        $1,000,000 x (1%/4) = $2,500

Fees are negotiable in the sole discretion of SHGA.

Aggregation of AUM for Billing Purposes Only

Unless instructed otherwise by the Client or based on unique family circumstances, for billing purposes
only, the value of a Client’s AUM will be aggregated with the AUM values of a Client’s husband, wife,
domestic partner, son and/or daughter, which will potentially lower the applicable Wealth Management
Fee assessed by the SHGA based on the Tiered Rate Schedule as presented to Client within Client’s Wealth
Management Agreement.

        Illustrative Example Only: Assume Client and Client’s son have an advisory agreement with
        Advisor. For purposes of the first quarter’s billing, Client’s AUM is valued at $2,000,000
        and the Client’s son’s AUM is valued at $1,000,000 on 12/31. AUM of Client’s son would
        be aggregated with the Client’s AUM for billing purposes only.

        Assuming the Wealth Management Agreement provided a fee billing of 1% on the first
        million of AUM, .9% for the next $1,500,000 in AUM, and .8% for the next $2,500,000 in
        AUM, the overall assessed quarterly Asset Management Fee would be calculated and
        proportionally assessed as follows for a $3 million aggregated account:
        [$1,000,000 x (1%/4) = $2,500] + [$1,500,000 x (.9%/4) = $3,375] + [$500,000 x (.8/4) =
        $1,000] or $6,875 for the aggregate quarterly payment.

        In the above example, Client would be invoiced $4,583.33 and Client’s son would be
        invoiced $2,291.67.

Clients are strongly encouraged to review their quarterly custodian statements and to contact SHGA with
any questions.

For new Client accounts, SHGA can assess Wealth Management Fees based on when wealth management
begins. If this occurs, the first invoice will include prorated fees for a partial quarter during which wealth
management services begin in addition to a full quarter’s fees for the following quarter.

Payment of SHGA’s management fees are deducted from each Client’s account on a quarterly basis by
their custodian and paid directly to us, unless otherwise requested by a Client. A statement of SHGA’s
fees charged is provided along with a portfolio appraisal with each quarterly report.

Generally, the Wealth Management Fee charged by SHGA varies, ranging up to 1% of a Client’s AUM, and
dependent upon the services provided, could be comprised of a mix of a tiered fee schedule and flat fee
schedule(s). The fee structure generally is determined based upon a number of factors including the
amount of work involved, the assets placed under management, the attention needed to manage the
account, the existence of family relationships, anticipated future earning capacity, anticipated future
additional assets, account retention, customized performance reporting, amount of Client meetings per
year, etc. As a result of the variety of factors involved during the fee negotiation process, Clients can pay
higher fees than other Clients with the same level of AUM. Fees assessed to existing Clients varies
depending upon the fee schedule in place or the negotiated rate at the time the Client signed the Wealth
Management Agreement.

SHGA has legacy Clients from an acquisition of Integral Financial Solutions, LLC where the Firm has agreed
to provide investment management only services that do not include the analytical and administrative
financial planning services that the Firm typically provides to its wealth management Clients.
Consequently, our investment management only services are provided for such Clients at a discounted
rate.

If a Client’s account assets include illiquid alternative investments, it is SHGA’s policy to use the valuation
as provided by the sponsor. However, due to the nature of illiquid alternative investments, it is common
for the sponsor to only provide initial valuation estimates followed by capital account statements that
may lag months after the original estimates are distributed. SHGA’s policy is to use the most current
information available for reporting and billing purposes for a given quarter. It is the policy of SHGA to
refund Clients any overcharges because of delayed reporting.

Clients may request additional information regarding compensation paid to SHGA and all associated
account fees at any time.

Fees for Hourly Planning Engagements

At times the Firm provides planning and advisory services, including legal testimony as needed, generally
at a transition point in a Client’s life or under circumstances that preclude provision of investment
management services. Hourly fees range from $100 per hour to $300 per hour. SHGA assesses a retainer
of $1,200 against which hourly costs are applied. SHGA reserves the right to alter this methodology in
coordination with the Client.

FEE BILLING
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ITEM 7: TYPES OF CLIENTS

SHGA generally provides financial planning and wealth management services to high net worth
individuals, families, trusts, not-for-profit organizations, pension and profit sharing plans, limited liability
companies, partnerships, corporations, and business entities. Client relationships vary in scope, size and
length of service.

ACCOUNT MINIMUMS

SHGA’s minimum aggregate size for client accounts is $2,500,000, though SHGA reserves the right to, in
their discretion, waive that minimum asset level. SHGA reserves the right to decline to manage accounts
if it feels it is in the client’s or its own best interests.