Terra Nova Asset Management LLC

Item 5 Fees and Compensation

Our annual fees for investment advisory services are based upon a percentage of assets under management
and generally range from 0.65% to 1.50% and are calculated and billed quarterly in arrears. In limited
circumstance, TNAM may cover the client’s brokerage costs. This arrangement may cost the client more
or less than pay for such services separately. Further, this arrangement creates an incentive for Terra
Nova Asset Management LLC to limit trading in the client account to reduce costs to Terra Nova Asset
Management LLC. Terra Nova Asset Management LLC has policies and procedures to ensure that its
trading practices are fair to all clients and that no client or account is advantaged or disadvantaged over any
other.

A minimum of $1,000,000 of assets under management is required for this service. This account size may
be negotiable under certain circumstances. Terra Nova Asset Management LLC may group certain related
client accounts for the purposes of achieving the minimum account size and determining the annual fee.
An annual minimum fee of $2,500 per account will apply.

Terra Nova Asset Management LLC debits the investment advisory fee directly from a client’s account.
Terra Nova Asset Management LLC can also send an invoice to the client rather than directly debit the
client’s quarterly fee, upon request.

Limited Negotiability of Advisory Fees: Although Terra Nova Asset Management LLC has established
the aforementioned fee schedule, we retain the discretion to negotiate alternative fees on a client -by-
client basis. Client facts, circumstances and needs are considered in determining the fee schedule.
These include the complexity of the client, assets to be placed under management, anticipated future
additional assets, related accounts, portfolio style, account composition, and reports, among other
factors. The specific annual fee schedule is identified in the contract between the firm and each client.

Termination of the Advisory Relationship: A client agreement may be canceled at any time, by either
party, for any reason upon receipt of 30 days written notice. Upon termination of any account, any
prepaid, unearned fees will be promptly refunded.

Mutual Fund Fees: All fees paid to Terra Nova Asset Management LLC for investment advisory
services are separate and distinct from the fees and expenses charged by mutual funds and/or ETFs to
their shareholders. These fees and expenses are described in each fund's prospectus. These fees will
generally include a management fee, other fund expenses, and a possible distribution fee. If the fund
also imposes sales charges, a client may pay an initial or deferred sales charge. A client could invest in a
mutual fund directly, without our services. In that case, the client would not receive the services provided

by our firm which are designed, among other things, to assist the client in determining which mutual fund
or funds are most appropriate to each client's financial condition and objectives. Accordingly, the client
should review both the fees charged by the funds and our fees to fully understand the total amount of fees to
be paid by the client and to thereby evaluate the advisory services being provided.

Additional Fees and Expenses: In addition to our advisory fees, clients are also responsible for the fees
and expenses charged by custodians and imposed by broker dealers, including, but not limited to, any
transaction charges imposed by a broker dealer with which an independent investment manager effects
transactions for the client's account(s) except in limited circumstance as noted above. Please refer to the
"Brokerage Practices" section (Item 12) of this Form ADV for additional information.

Advisory Fees in General: Clients should note that similar advisory services may (or may not) be
available from other registered (or unregistered) investment advisers for similar or lower fees.

Item 7 Types of Clients

Terra Nova Asset Management LLC offers advisory services to high-net-worth individuals, family
offices, and institutional clients. As previously disclosed in Item 5, our firm has established certain initial
minimum account requirements, based on the nature of the service(s) being provided.