Snowball Capital Management Limited

Item 5 – Fees and Compensation
The following paragraphs detail the fee structure and compensation methodology for services provided by the
Advisor. Each Client shall sign an investment advisory agreement that details the responsibilities of SCM and the
Client.

A. Fees for Advisory Services
Investment advisory fees are charged monthly, at the end of each month, at an annual rate of up to 1.00%.
Investment advisory fees in the first month of service are prorated from the inception date of the account[s] to the
end of the first month. Fees for accounts exceeding $1 million may be negotiable at the sole discretion of the
Advisor. The Client’s fees will take into consideration the aggregate assets under management with the Advisor. All
securities held in accounts managed by SCM will be independently valued by the Custodian. SCM will not have the
authority or responsibility to value portfolio securities.

B. Fee Billing
Investment advisory fees will be calculated by the Advisor and deducted from the Client’s account[s] at the
Custodian. The Advisor shall send an invoice to the Custodian indicating the amount of the fees to be deducted
from the Client’s account[s] at the respective month-end date. The amount due is calculated by applying the
monthly rate to the total assets under management with SCM at the end of each month. Clients will be provided
with a statement, generally at least quarterly, from the Custodian reflecting deduction of the investment advisory
fee.

C. Other Fees and Expenses
Clients may incur certain fees or charges imposed by third parties, other than SCM in connection with
investments made on behalf of the Client’s account[s]. The Client is responsible for all custody and securities
execution fees charged by the Custodian. The fees charged by SCM are separate and distinct from these
custody and execution fees. In addition, all fees paid to SCM for investment advisory services are separate and
distinct from the expenses charged by mutual funds and exchange-traded funds to their shareholders, if
applicable. Please refer to Item 12 – Brokerage Practices for additional information.

D. Advance Payment of Fees and Termination
SCM is compensated for its services after each month of advisory services provided. Either party may request to
terminate their investment advisory agreement with SCM, at any time, by providing advance written notice to the
other party. The Client shall be responsible for investment advisory fees up to and including the effective date of
termination. The Client’s investment advisory agreement with the Advisor is non-transferable without the Client’s
written approval.

E. Compensation for Sales of Securities
SCM does not buy or sell securities and does not receive any compensation for securities transactions in any Client
account, other than the investment advisory fees noted above.

Item 7 – Types of Clients
SCM offers investment advisory services to individuals, high net worth individuals, trusts, estates and other types
of clients (each herein referred to as a “Client”). The relative percentage of each type of Client is available on
SCM’s Form ADV Part 1. These percentages will change over time. SCM generally does not impose a minimum
size for establishing a relationship.