Stone Ridge Advisors LLC

Item 5 Fees and Compensation
Fees and other charges

Individually Managed Accounts:
Fees for individually managed accounts are tier priced as follows:

Asset Level                                             Annual Fee
First $2 million                                        Minimum fee of $15,000
Next $3 million (to $5,000,000)                         0.65%
Next $5 million (to $10,000,000)                        0.55%
Next $10 million (to $20,000,000)                       0.50%
Over $20 million                                        0.40%

Asset-based fees are (with certain exceptions described below) deducted by the qualified custodian of
record on a quarterly basis in advance, based on the account value on the last day of the previous
quarter, or as otherwise indicated in the client agreement. Client statements for prior deductions will be
provided on a quarterly basis. Mid-quarter asset flows will be charged prorated fees based on the
number of days remaining in the quarter after all client funds have been transferred.

Accounts that are custodied at Betterment are charged an asset-based fee of 0.75% annualized,
monthly in arrears based on the ending value that month. This fee includes the platform fee charged to
us by Betterment.

All fees paid to the firm for investment advisory services are separate and distinct from the expenses
charged by third-party managers and investment companies to their shareholders. These fees and
expenses are described to the client in separate disclosures. These fees will generally include third-party
management fees, an investment company management fee, other fund expenses, and in some situations
a possible distribution fee. All fees are negotiable at the discretion of Stone Ridge, fees charged may be
higher or lower than the above stated.

Stone Ridge Advisors LLC

The firm will provide investment advisory services and portfolio management services but will not
provide custodial or other administrative services. At no time will the firm accept or maintain custody
of a client’s funds or securities except for authorized fee deduction. The client may contact the custodian
directly for disbursements, or account record changes, and may also do so in writing to the custodian.
The firm may act at the client’s convenience to facilitate such written communications to the custodian,
provided that such action is not construed to be custody of client assets.

The client is responsible for all custodial and securities execution fees charged by the custodian and
executing broker-dealer. Fees paid to the firm are separate and distinct from the custodian and execution
fees.

Clients may request to terminate their advisory contract with the firm, in whole or in part, by providing
advance written notice. Upon termination, any the fees paid in advance will be prorated to the date of
termination and any excess will be refunded to the client through the custodian. The client’s advisory
agreement with the firm is non-transferable without the client’s written approval.

Fee Deduction Disclosure

When the firm deducts its management fee from client accounts utilizing a qualified custodian, the firm
is required to meet the following requirements.

a. Possess written authorization from the client to deduct advisory fees from an account held by a
qualified custodian;

b. send the qualified custodian a written invoice detailing the fee amount to be deducted from the client
account; and

c. The firm must ensure that on at least a quarterly basis, the custodian sends to the client a statement
showing all transactions within the account during the reporting period.

Fees Paid in Advance

Where the firm may request a fee in advance, the amount paid in advance will not be more than $1,200
per client and six months in advance.

Management of Held-Away Assets

When advising certain clients with held-away assets, the firm will use Pontera’s third-party platform.
Pontera will directly charge the firm 0.30% AUM quarterly for the use of its platform. In many cases,
the firm will not pass this additional fee on to the client; however, the firm does reserve the right to do
so if it sees fit.

Right of Cancellation

In addition to the right to terminate an agreement pursuant to its terms, a client may cancel an agreement
with Advisor within five (5) business days of first receiving a copy of this disclosure brochure and
supplement without penalty or fee.

Stone Ridge Advisors LLC

Item 7 Types of Clients
Stone Ridge Advisors provides investment advice to many different types of clients. These clients
generally include individuals, trusts, estates, corporations, pension/retirement plans, and other types of
business entities.

Minimum Account Size

The Firm generally has a minimum account size of $1,000,000, but reserves the right to waive this
minimum at its discretion. Third-party managed programs generally have account minimum
requirements, and these minimum requirements vary from manager to manager.