Virgo Digital Asset Management Inc

ITEM 5 - FEES AND COMPENSATION
We are compensated by investment management fees and performance fees (collectively, “Fees”)
for our investment advisory services.

Investment Management Fees

We receive a monthly Management Fee equal to 1/12 of 2.00% of the Net Asset Value (NAV) of
each client’s SMA. This fee is calculated and accrued daily by Interactive Brokers (IB), our
custodian, based on the SMA’s NAV as of the close of each business day. The accrued fees are then
deducted directly from the client’s account on the first business day after the end of each calendar
quarter. The fee structure is established at the time the client opens their IB account and remains
fixed unless amended through mutual agreement in writing.

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In the event a client requests a full withdrawal or transfer of their account, any accrued but unpaid
management fees for the period up to the date of termination will become due. These fees will be
calculated based on the daily accrual method described above, prorated to the date of the
withdrawal or transfer request, and withdrawn from the client’s account one day after the end of
the calendar quarter in which the request is processed.

Performance Fees

We also receive Performance Fees, calculated and accrued on each Valuation Date and payable at
the end of each calendar quarter. This fee is determined using the following formula:

20% x (A - B)

Where:

“A” represents the Net Liquidation Value on the calculation date, excluding the accrual of any
Performance Fee; and

“B” represents the High Water Mark.

The Performance Fee is only payable when the Net Liquidation Value (A) exceeds the High Water
Mark (B).

This fee structure is designed to align our interests with those of our clients, incentivizing strong
performance while maintaining transparency and fairness in our pricing model.

        “Business Day” means any day on which the Toronto Stock Exchange is open for trading.
        “Net Liquidation Value” means the net value of the Account as determined by subtracting
         the aggregate liabilities of the Account, include accrued expenses, from the aggregate
         value of the assets of the Account on which the calculation is being made. Net Liquidation
         Value is sometimes referred to as “net asset value”.
        “High Water Mark” means the highest Net Liquidation Value previously utilized for the
         purposes of calculating a Performance Fee that was paid, less Performance Fees, since the
         inception of your Account. The Custodian is responsible for calculating the High Water
         Mark and applying it to your Account to calculate Performance Fees. For further details
         regarding the Custodian’s calculation methodology, see: Interactive Brokers High Water
         Mark Example.
        “Valuation Date” means the last Business Day of each calendar quarter.

Additional Fees

In addition to VDAM’s Management and Performance Fees, SMA clients are responsible for other
costs, including brokerage commissions, spreads, exchange fees, and trading expenses, which vary
based on security type, execution method, and market conditions. These fees, along with fees
charged by your Custodian (defined and discussed below); such as account maintenance, wire
transfers, check issuance, account closing, transfer-out, safekeeping, reconciliation, and asset

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processing fees; are separate from the Adviser’s fees. SMA clients who invest in mutual funds,
ETFs, or private funds are also responsible for the fund’s internal expenses, including management
and operating costs. SMA accounts using margin or leverage will incur interest charges, with rates
determined by the Custodian, and foreign exchange transactions may be subject to conversion fees
and spread markups. Additionally, SMA clients may bear costs related to regulatory reporting, such
as compliance with the Foreign Account Tax Compliance Act (FATCA) and the Common
Reporting Standard (CRS). The Custodian may also impose administrative fees for paper statement
delivery, account statements, corporate actions, and proxy voting services. The Adviser does not
receive compensation from these fees, and clients should carefully review their Managed Account
Agreement with the Custodian for a full list of potential charges.

ITEM 7 - TYPES OF CLIENTS
VDAM advises non-U.S. SMA Clients and manages a non-U.S. fund named VDAM Multi-
Strategy Digital Asset Fund, which does not currently accept U.S. investors. As of the date of this
Brochure, we do not yet have U.S. clients, but we intend to offer services to qualified U.S. persons
in accordance with SEC requirements. Services are solely offered to “qualified clients” in the U.S.,
including high net worth individuals, pension and profit-sharing plans, trusts, estates, charitable
organizations, corporations, and certain other businesses. We do not impose minimum SMA size
requirements.