Waterford Capital Investment Advisory Services LLC

Item 5 – Fees and Compensation

Fee Schedule

Our standard investment management fee for separately managed accounts is 1.00%, although
fees are negotiable. Fees are payable quarterly in arrears based upon the month end net asset
value of the client’s account.

Fee Payment Options

As indicated in our advisory agreement with the client(s), there are two options the client(s) may
select to pay for our services:

       Direct debiting (preferred): at the inception of the relationship and each quarter
        thereafter, we will notify the custodian of the amount of the fee due and payable to us
        through our fees schedule and contract. The custodian does not validate or check the
        calculation of our fee. They will “deduct” the fee from the client(s) account or, if the
        client has more than one account, from the account the client may have designated to pay
        our advisory fees.

               ○ Each month, the client will receive a statement directly from the
               custodian showing all transactions, positions and credits/debits into or from the
               client’s account; the statements after the quarter end will reflect these
               transactions, including the advisory fee paid by the client to us.

       Pay-by-check: At the inception of the Account and each quarter thereafter, we issue the
        client an invoice for our services and the client pays us by check or wire transfer within
        15 days of the date of the invoice.

Additional Fees and Expenses:

Advisory fees payable to us do not include the fees the client will pay when we purchase or sell
securities for client’s account(s). The following list of fees or expenses are what the client pays
directly to third parties, whether a security is being purchased, sold or held in the client’s account
(s) under our management. Fees charged are by the broker dealer/custodian. We do not receive,
directly or indirectly, any of these fees charged to the client. They are paid to your broker,
custodian or the mutual fund or other investment the client holds. The fees include:

       Brokerage commissions;
       Transaction fees;
       Exchange fees;
       SEC fees;
       Advisory fees and administrative fees charged by Mutual Funds (MF)

WCIAS                             ADV Part 2A                  March 2026                   Page 5 of 23

       Custodial Fees;
       Deferred sales charges (on MF or annuities);
       Odd-Lot differentials;
       Deferred sales charges (charged by MFs);
       Transfer taxes;
       Wire transfer and electronic fund processing fees;
       Commissions or mark-ups / mark-downs on security transactions;
       Among others that may be incurred.

Any commissions charged to clients who use Hilltop Securities are used to offset quarterly
management fees. You have the option to purchase investment products that we recommend
through other brokers or agents that are not affiliated with us.

In addition, we do not have any person associated with us who receives (directly or indirectly)
any compensation from the sale of securities or investments that are purchased or sold for your
account. As a result, we are a “fee only” investment adviser. We do not have any potential
conflicts of interest present that relate to any additional compensation from you or your assets
that we manage.

Other Compensation:

David O’Connor receives additional compensation from his outside business activities. David
O’Connor is Principal, FinOp, CCO and a registered representative of Waterford Capital Inc., a
broker-dealer. Waterford Capital, Inc. could receive a performance-based fee from BCPTX Fund
1, L.P. Because of his relationship with Waterford Capital Inc., David O’Connor has an incentive
to market the BCPTX Fund 1, L.P. to his advisory clients and, therefore, increase the
performance fee received by Waterford Capital Inc. This creates a conflict of interest as David
O’Connor will receive compensation from the performance-based fee received by the broker-
dealer.

While David O’Connor endeavors at all times to put the interest of our clients first as part of our
fiduciary duty, the possibility of receiving additional compensation can create a conflict of
interest. We require that all IARs disclose a potential conflict of interest when such marketing is
done. Also, we require IARs to disclose that Clients are under no obligation to purchase the
products we market, and that they may purchase marketed products with broker-dealers not
affiliated with us.

Our Code of Ethics requires our IARs do what is in the client’s best interests at all times. In his
role as CCO, David O’Connor monitors all transactions to ensure that clients’ interests are first,
not the commission he may receive. See, Item 10 – Other Financial Industry Activities and
Affiliations, below, for additional information.

WCIAS                            ADV Part 2A                   March 2026                  Page 6 of 23

Item 7 – Types of Clients

We can provide our services to a number of types of Clients;

       Individuals, including high net worth individuals

       Trusts, estates and charitable organizations

       Family limited partnerships

       Private pooled investment vehicles

We generally impose a minimum account size of $5 million, although we may accept accounts
with fewer assets at our discretion.

WCIAS                            ADV Part 2A                   March 2026         Page 8 of 23