Vauban Wealth Management

Item 5: Fees and Compensation

    A. Fees for Advisory Service
VWM currently charges an annual advisory fee of 1.0% of assets under management (“Investment
Advisory Fee”). This fee is calculated and charged quarterly on the first days of the following
month based on the value of the assets as of the last day of the quarter as calculated by the Client’s
custodian. VWM will pro rate fees for accounts where the investment advisory management
agreement is initiated or terminated on a date creating less than a full quarter of investment
management for either the initial or final month of the Agreement.

The Advisor reserves the right, in its sole discretion, to negotiate, reduce or waive the Investment
Advisory Fee for certain Client accounts for any period of time determined solely by VWM. In
addition, the Adviser may reduce or waive its Investment Advisory Fees for the accounts of some
Clients without notice to, or fee adjustment for, other Clients.

VWM’s Investment Advisory Fee is exclusive of and in addition to, other fees and expenses which
Client may incur in connection with VWM’s advisory services. Please see Item 5(C) below.
However, the Advisor shall not receive any portion of these commissions, fees, and costs.

All securities managed by VWM will be independently valued by the custodian. VWM will not
have the authority or responsibility to value portfolio securities.

Apart from the personal Client service provided directly by VWM, services identical to VWM
may be provided by other investment advisors for advisory fees that may be greater than or less
than the advisory fees charged by VWM. Additionally, Clients could invest in the same or similar
products directly, without the services of VWM.

    B. Fee Billing
Investment Advisory Fees are calculated by the Advisor and deducted from the Client’s account[s]
by the custodian. The Advisor shall send an invoice to the custodian indicating the amount of the
fees to be deducted from the Client’s account[s] a few days after the end of the quarter for which
the fee is charged. The amount due is calculated by applying the quarterly rate (annual rate divided
by 4) to the total assets under management with VWM at the end of such quarter as described in
Item 5(A) above. It is the responsibility of the Client to verify the accuracy of these fees as listed
on the custodian’s portfolio valuation statement. Clients provide written authorization permitting

VWM to be paid from their account[s] held by the Custodian as part of the investment advisory
agreement and separate account forms provided by the Custodian.

    C. Other fees and expenses
Clients will incur certain fees or charges imposed by third-parties, other than VWM, in connection
with investments made on behalf of the Client’s account[s]. The Client is responsible for all
custodial and securities execution fees charged by the custodian and executing broker-dealers.
Mutual funds and variable annuity sub-account fees and expenses are described in each fund’s or
sub account’s prospectus. These fees will generally include a management fee, other expenses,
and a possible distribution fee. If the fund also imposes sales charges, a client may pay an initial
or deferred sales charge.

The Investment Advisory Fee charged by VWM is separate and distinct from these custodian and
execution fees.

Apart from the personal client service provided directly by VWM, services identical to VWM may
be provided by other investment advisers for advisory fees that may be greater than or less than
the advisory fees charged by VWM. Additionally, clients could invest in the same or similar
products directly, without the services of VWM.

     D. Advance Payment of Fees and Termination
VWM does not charge fees in advance. Clients may request to terminate their investment advisory
agreement with VWM, in whole or in part, by providing thirty (30) days advance written notice.
The Client shall be responsible for Investment Advisory Fees up to and including the effective
date of termination. VWM will pro rate fees for accounts where the investment advisory agreement
is terminated on a date creating less than a full quarter of investment management for either the
initial or final month of the agreement. The Client’s investment advisory agreement with the
Advisor is non-transferable without Client’s prior written approval.

    E. Compensation for Sales of Securities
Neither VWM nor any of its supervised persons receive any compensation for securities
transactions, other than the Investment Advisory Fees noted above.

Item 7: Types of Clients

Vauban Wealth Management offers investment advisory services to individuals, high net worth
individuals, trusts, estates, corporations and businesses. VWM generally does not impose a
minimum account size for establishing a relationship. Nevertheless, VWM reserves the right to
reject a relationship for any reason.