TLW Wealth Management LLC

Item 5          Fees and Compensation
The Firm offers managed accounts with similar management styles for a percentage of assets under
management that is exclusive of transaction and custodial charges. You may be charged by the
custodian of your assets for transactions in your accounts, margin fees, custodial fees, or other charges
as detailed separately for you on your custodial account application.

Fee Structures for Managed Accounts

We charge an annual fee of 1.00% on the average account value for the quarter. To calculate the
average daily balance, the system we use to calculate fees takes the ending balance of each day in the
billing period and averages this by the number of days in the period.

Our fees are charged quarterly, in advance and are typically deducted from client accounts. In any
partial calendar quarter, the management fee will be pro-rated based on the number of days that the
Account was open during the quarter. Client understands that Account assets invested in shares of
mutual funds or other investment companies (“funds”) will be included for the purpose of calculating
the value of the Account for purposes of computing our fee and that the same assets will also be subject
to other fees as set forth in the prospectus of those funds which will be paid by the funds but ultimately
borne by the investor.

The total cost of each of the services provided through these programs, if purchased separately, could
be more or less than the costs of each respective program. Cost factors may include your ability to
obtain the services provided within the programs separately with respect to the selection of
investments, invest and rebalance the selected investments without the payment of a sales charge, and
obtain performance reporting comparable to those provided within each program.

When making cost comparisons, you should be aware that the combination of multiple mutual fund
investments, advisory services, custodial and brokerage services available through each program may
not be available separately or may require multiple accounts, documentation and fees. If an account is
actively traded or if you otherwise may not qualify for reduced sales charges for fund purchases, the
fees may be less expensive than separately paying the sales charges and advisory fees. If an account is
not actively traded or if you otherwise would qualify for reduced sales charges, the fees in these
programs may be more expensive than if utilized separately.

You may also incur charges for other account services provided by the custodian not directly related to
the execution and clearing of transactions. These fees may include IRA custodial fees, safekeeping fees,
interest charges on margin loans, and fees for legal or transfers of securities. Transaction costs will be
paid by active clients in the instance of an unsolicited liquidation of more than three account positions
within a month of each other. In any unsolicited liquidation of one or more positions by a client who is
in the process of closing out their account with the Firm, client pays transaction charges.

Termination
The Investment Advisory Agreement may be terminated by either of us at any time upon providing written
notice pursuant to the provisions of the Investment Advisory Agreement. There is no penalty for
terminating your account. Upon termination, you will receive a refund of the portion of the prepaid asset-
based fee which is not utilized. We will not accept instructions to terminate the Agreement unless you
provide these instructions in writing.

We believe the charges and fees offered within each fee-based program are competitive with
alternative programs available through other firms and/or investment sources. We make no guarantee
that the aggregate cost of a particular program is lower than that which may be available elsewhere.
We will occasionally negotiate fees with clients due to personal family relationships or the percentage of
cash that the client requests to retain in their account.

Item 7          Types of Clients
We provide investment advice to Individuals, High Net Worth people, Companies, Trusts, and Estates.

The Firm has a minimum account value of $100,000 for TLW Portfolios. We may waive this based on
prior relationships, anticipated other assets, or at our discretion.