Wainwright Investment Counsel LLC

Item 5 – Fees and Compensation

Wainwright receives compensation for providing Advisory Consulting and Discretionary
Management Services, including Co-advisory Investment Management Services and Sub-Advisory
Investment Management Services, by charging a fee based on the value of the client’s assets under
management, investment performance, or a combination of both. Wainwright receives
compensation for Ad-Hoc Management Consulting Service arrangements based on the scope and
services to be provided by Wainwright. Fixed fee arrangements may also be available under certain
circumstances such as providing model investment strategy portfolios or in certain Advisory
Consulting or Discretionary Management Service engagements. The specific manner for which
fees are charged by Wainwright is described within each client’s written agreement with
Wainwright. All fees and fee arrangements are subject to negotiation.

   5.1. Valuation of Securities

A potential conflict of interest exists when an investment adviser bases its fee calculations on its
own security or portfolio valuations. To mitigate this possibility, market values maintained in
Wainwright’s portfolio accounting system are reconciled to the qualified custodian statements on
at least a monthly basis. Wainwright has adopted policies and procedures which are reasonably
designed to value client securities and assets in a manner that is current, fair, and accurate.

       5.1.1. Liquid Securities and Hedge Funds

Unless otherwise disclosed, the value of securities and assets held by clients of Wainwright are
reported to Wainwright by third parties which include, but are not limited to, banks, qualified
custodians and fund administrators. Wainwright deems these sources to be reliable and does not
independently audit or guarantee the accuracy of the data.

       5.1.2. Hard to Price Holdings Including Private Equity and Real Estate Holdings

For periods which private equity statements are not yet available, private equity holdings are carried
at the last published valuation provided by the manager plus or minus contributions or distributions
between that valuation date and the date the fee is calculated. Client fees will be calculated using
the last published valuation and, with limited exception, those calculations will not be adjusted in
future periods.

Wainwright Investment Counsel, LLC
March 31, 2026

   5.2. Fees for Advisory Consulting and Discretionary Management Services

Fees for Advisory Consulting and Discretionary Management Services, including Co-advisory
Investment Management Services and Sub-Advisory Investment Management Services, are
generally calculated as a fixed percentage of the market value of assets under management on the
last business day of the quarter. Asset-based fee schedules are generally tiered, offering
breakpoints for larger account balances and, while quoted on an annual basis, are, with limited
exception, calculated and assessed on a quarterly basis, in arrears. Advisory Consulting or
Discretionary Management Services fees may also be calculated using another method, such as the
average of assets under management during the quarter or on a fixed annualized fee basis, upon
mutual agreement with the client. Wainwright may, by mutual agreement with the client, take into
consideration the total asset value of the account combined with the asset values of any affiliated
Advisory Consulting and Discretionary Management Services client account(s).

In cases where Wainwright’s fee is paid in advance, and in the event of the termination during a
quarter, Wainwright will retain only a pro-rata portion of the quarterly fees paid in advance based
on the actual number of days in the quarter from the first day of the quarter through and including
the termination date. The remaining balance of the prepaid fees for such quarter will be promptly
refunded to the client.

Account minimums are subject to negotiation.

The standard annual fee schedule for Advisory Consulting Services is:

    •   1.50% on the first $1.0 million of account assets.
    •   0.50% for assets between $1.0 million and $5.0 million.
    •   0.40% for assets above $5.0 million.

The annualized asset-based fee schedule for Discretionary Management Services clients generally
ranges from 0.5% to 1.5% of account assets. If by written agreement between the Discretionary
Management Services client and the Firm, eligible Discretionary Management Services clients may
also be charged a performance-based fee. See Item 6 – Performance-Based Fees and Side-By-Side
Management below for additional information about performance-based fees.

Adjustments to advisory fees may be made to an Account in the event that, during a quarter, the
sum of all deposits to the Account minus all withdrawals from the Account by the Client results in
a net deposit to or withdrawal from the Account of greater than $50,000, and represents more than
10% of the value of the Account as of the beginning of the quarter. In such cases, the pro-rated fee
adjustment is calculated to reflect the application of the advisory fee to investment deposits, and a
reduction of the advisory fee for investment withdrawals, based on the number of days the
applicable assets are in the Account during the quarter. Generally, adjustments to advisory fees are
made the billing cycle in which the cash flows were made.

Wainwright Investment Counsel, LLC
March 31, 2026

Private funds for which Wainwright or WFS, LLC receive compensation (e.g., the Wainwright
Renaissance Fund or any other non-Wainwright affiliated fund) are included in the assets under
management of an Advisory Consulting or Discretionary Management Services account but are
generally excluded from Wainwright’s Advisory Consulting or Discretionary Management
Services fee calculations. In the limited circumstances where such private funds are included in the
aforementioned fee calculations, the client typically receives the benefit of a discounted
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Item 7 – Types of Clients

Wainwright provides non-discretionary (Advisory Consulting) and discretionary (Discretionary
Management) investment advice to individuals; high net worth individuals; family offices;
endowments; trusts; estates; foundations; corporations and other business entities; pooled
investment vehicles including hedge funds and other investment partnerships; charitable and tax-
exempt institutions; pension, profit-sharing, 401(k) and other plans that are subject to the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”); employee benefit plans; and
state and municipal governmental pension and post-employment benefit plans. Wainwright
additionally provides, or has provided in the past, discretionary and non-discretionary investment
advice and sub-advisory services to foundations, corporations and banks.

Wainwright has clients domiciled both within and outside of the United States.