Wisconsin Capital Management LLC

Item 5 – Fees and Compensation

Fees Related to Investment Management Services

Although subject to change at WisCap’s discretion, fees are generally based upon the market
value of assets under management as of the last business day of the previous quarter. Fees are

due in advance of each new quarter. Clients can choose to either receive fee invoices from
WisCap or have WisCap deduct fees from their accounts directly.

When a client’s portfolio includes shares of the Plumb Funds, the value of a client’s Plumb
Funds shares does not factor into WisCap’s calculation of the client’s advisory fee. Those
assets are subject only to the Funds’ expenses, which are paid from Funds’ shareholder fees.
More information on the Funds’ expenses and fees is available in each Fund’s Prospectus.
WisCap receives payment for its advisory services directly from the Funds. Depending upon
which Fund a WisCap client’s account is invested in, each Fund’s fees could be more or less
than the advisory fee that would otherwise apply to that account. Clients who do not meet
WisCap’s minimum asset requirements will generally invest in the Funds. WisCap determines
on a case-by-case basis whether to recommend the client invest in a Fund or for WisCap to
manage the account individually. Individual circumstances WisCap considers include: 1) the
size of the account; 2) the client’s tax management requirements; 3) the client’s preferences;
and 4) client-specific servicing needs. Clients can also purchase the Plumb Funds through other
brokers or agents not affiliated with WisCap.

Either party to a WisCap investment management agreement can end the relationship with 30
days’ advance written notice to the other party, unless otherwise dictated by the terms of the
agreement. WisCap will return the fees a client has already paid for the days following the
termination date until the end of that quarter, if any. A client’s termination of an investment
management agreement will not affect transactions WisCap has initiated on the client’s behalf
prior to the effective date of the termination.

Clients will incur separate custodian, brokerage, and transaction costs. Custodian fees are
negotiated by the clients and their selected custodian(s). In addition, the firm will at times invest
a client’s account in registered investment companies or ETFs not affiliated with the firm.
Depending on the fund and its share class offering, a client could invest directly in a fund without
incurring any sales or advisory fees. Each fund’s prospectus will contain a complete explanation
of the expenses it charges to its shareholders. Such charges, including brokerage fees and
commissions, are exclusive of and in addition to WisCap’s fee, and WisCap does not receive any
portion of these commissions, fees, and costs. Item 12 of this brochure further describes the
factors WisCap considers in selecting broker-dealers to recommend for client transactions, and
for determining the reasonableness of a broker-dealer’s compensation (e.g., commissions).

WisCap generally charges clients a fee based on the value of assets under management.
WisCap’s current standard fee schedule is:

                                  Individually Managed Accounts
                                   1.00% on the first $1,000,000
                                   0.90% on the next $1,000,000
                                   0.80% on the next $2,000,000
                                   0.70% on the next $1,000,000
                                   0.60% on assets over $5 million

The standard fee schedule shown above is negotiable and will thus vary from client to client.
Factors the firm considers in negotiating fees include type of account, type of securities subject
to management services, value of securities, anticipated nature, and volume of trading, and
special service requests by the client. Over the years it has been in business, WisCap has had
other fee schedules in effect that could be lower or higher fees than those outlined above.
Based on the fee schedule in effect at the time of engagement and the size of a particular
account, WisCap clients will probably pay different fees. WisCap follows policies to manage
client accounts based on their investment goals, regardless of their fees.

WisCap offers a discounted fee for employees and certain family members of employees.
Select employees are not charged fees for individual accounts managed by WisCap.

Fees Related to Wrap Account Advisory Services

WisCap’s fee for wrap account management services ranges from 0.50% to 1.00% per year and
is payable according to the client’s agreement with the wrap program’s sponsor. While the
agreement with the wrap program sponsor ultimately dictates fees to be paid, mark ups on fixed
income trades, fees associated with WisCap placing trades through a different broker-dealer,
charges directly imposed by mutual funds or ETFs and other trading-related fees are generally
expected to be borne by the client. As such, clients could be collectively paying higher fees by
participation within a wrap fee program. Further, while it is ultimately the client’s decision
whether to maintain a wrap account, clients are advised that accounts with low trading volumes,
high cash balances or significant fixed income weightings could receive similar services at a
lower cost outside of a wrap fee program.

Fees Related to Mutual Fund Services
The Plumb Funds pay WisCap’s advisory fees monthly, in arrears, in an amount calculated at
the annual rate of 0.65% of the value of each Fund’s assets, less any fees waived, or expenses
reimbursed by WisCap when an expense limitation on Fund assets is in effect. A complete
description of all operating expenses of each Fund may be found in the Plumb Funds’
Prospectus, a copy of which is available by calling 1-866-987-7888.

Fees for Signal Trading

WisCap receives a percentage of a subscriber’s monthly membership plan fee they pay to
...

Item 7 – Types of Clients

WisCap provides investment management services to individuals, high net worth individuals,
and registered mutual funds. WisCap also offers trade signaling services through Echo. WisCap
will generally decline or terminate a client who imposes investment restrictions that WisCap

believes will preclude the development of a consistent, long-term investment program for the
client’s account.

WisCap maintains separate relationships with certain clients. For example, some clients also
serve as firm vendors. Over the course of time, given the inherently close working relationship we
have with our clients, we expect relationships with clients to continue to evolve. These expanded
relationships could present an inherent conflict to provide preferential treatment to certain clients.
We believe WisCap’s dedication to fairness and integrity, along with policies and procedures
designed to ensure clients are treated fairly, as summarized within this disclosure document,
address this conflict.

As noted in Item 5 above, either party to a WisCap investment management agreement can end
the relationship with 30 days’ advance written notice to the other party, unless otherwise
dictated by the terms of the agreement.

Our minimum account size for new clients is $2 million.

When we provide investment advice to you regarding your retirement plan account or individual
retirement account, we are fiduciaries within the meaning of Title I of the Employee Retirement
Income Security Act and/or the Internal Revenue Code, as applicable, which are laws governing
retirement accounts. The way we make money creates some conflicts with your interests, so we
operate under a special rule that requires us to act in your best interest and not put our interest
ahead of yours.

Echo subscribers of Perfectna’s Echo Trading Platform are not WisCap clients. WisCap does
not know Echo’s subscribers, has no agreements with them, does not communicate with them,
does not access their trading accounts, and is not responsible for their use of WisCap’s trade
information. Subscribers trade at their sole discretion and direction. WisCap agreed with
Perfectna to allow Echo to communicate WisCap trading information to Echo’s subscribers.
WisCap and Perfectna are not affiliates.