Southcol Advisors LLC

Item 5 – Fees and Compensation

The specific manner in which fees are charged is established in the SouthCol client agreement.
SouthCol generally bills its investment advisory fees on a quarterly basis, in advance, based upon the
value of the account on the last day of the previous calendar quarter, including cash balances. Clients
authorize the Custodian, upon instruction from the Platform Manager, to directly debit fees from client
accounts. Advisory fees shall be prorated for each capital contribution and withdrawal made during
the applicable calendar quarter (with the exception of de minimis contributions and withdrawals of less
than $10,000). Accounts initiated during a calendar quarter will be charged a prorated fee.

Upon termination of any account, any prepaid, unearned fees will be promptly refunded.

SouthCol’s fees are exclusive of brokerage commissions, transaction fees, and other related costs
and expenses which shall be incurred by the client. In addition to SouthCol’s fees, clients generally
incur fees from Independent Managers and the Platform Manager. Fees for the Independent
Managers and the Platform Manager are debited from client accounts and paid directly to the

Independent Manager or Platform Manager, respectively. These fees vary based on the amount of
assets under management and other factors, such as asset class. Clients also incur certain charges
imposed by Custodians, brokers and other third parties such as custodial fees, odd-lot differentials,
transfer taxes, wire transfer and electronic fund fees, and other fees and taxes on brokerage accounts
and securities transactions and contingent deferred sales charges imposed upon the liquidation of “in-
kind assets” that are transferred into client account(s). When appropriate, SouthCol will liquidate such
assets transferred into client account(s) at its sole discretion. Clients may be subject to taxes when
SouthCol liquidates such assets. Mutual funds and exchange traded funds also charge management
fees and other fund expenses, which are disclosed in a fund’s prospectus. Such charges, fees and
commissions are exclusive of and in addition to SouthCol’s fee, and SouthCol shall not receive any
portion of these commissions, fees, and costs.

Item 12 further describes the factors that SouthCol considers in selecting or recommending broker-
dealers for effecting client transactions and determining the reasonableness of their compensation
(e.g., commissions).

SouthCol’s standard fee schedule, subject to negotiation, is as follows:

Institutional Clients
 Client Assets Under Management                    Annual Fee (%) for all assets
 On the first $100 million                         0.50%
 On all amounts in excess of $100 million          0.30%

Private Wealth Management Clients
 Client Assets Under Management                     Annual Fee (%) for all assets
 On the first $10 million                           0.60%
 On all amounts in excess of $10 million            0.40%

Independent Managers and the Platform Manager charge their own fees that are in addition to
SouthCol’s fees. Please refer to the SouthCol client agreement and disclosure documents from
the Platform Manager and Independent Managers for details on their fee schedules.

To the extent SouthCol is aware of such relationships, SouthCol generally aggregates all assets
within a given household for determining the fee levels across all assets in the household, as
permitted. All fees are subject to negotiation and can vary from the amounts shown in the above
tables.

Item 7 – Types of Clients

SouthCol provides investment advisory services to institutional clients, primarily 501(c)3 endowments
and foundations, individuals, high net worth individuals and families.

SouthCol generally requires a minimum amount of $10 million to open or maintain an institutional
account and $1 million to open or maintain a Private Wealth Management account. Account
minimums can be waived at the sole discretion of the Adviser.