Teramo Advisors LLC

Item 5 – Fees and Compensation

Pursuant to an advisory agreement between Teramo and the Fund, the Fund pays Teramo
0.88% of the average daily net assets of the Fund. This fee is paid to HTAA on a monthly basis.
Please refer to the ETF’s prospectus for more information on the applicable fees and expenses.

The asset-based advisory fee earned from SMA Clients is typically 0.50% annually, but may be
higher or lower depending on the client, strategy, assets and level of service. Fees are
negotiable and may be assessed monthly or quarterly, in advance or in arrears, and are typically
deducted from client assets by the custodian when authorized in writing from the SMA Client.
Any pre-paid fees will be refunded on a pro-rata basis, based on the number of days during the

billing period that the client received advisory services, should the advisory agreement be
terminated before the end of a billing period. There may be other fees or expenses associated
with SMA advisory services, such as custodian fees and acquired fund expenses, and SMA
Clients will incur brokerage and other transactions costs. See Item 12 – Brokerage Practices for
additional information.

Item 7 – Types of Clients

Teramo provides investment advice to the Fund based on the particular investment objectives
and strategies described in the ETF’s prospectus.

Teramo also provides investment advice to individual and institutional SMA clients.