XP Advisory US Inc

Item 5 – Fees and Compensation
Fees for Advisory Services
Fees charged by XP Advisory are established in a client’s Investment Advisory Agreement. Client pays an ongoing
advisory fee based upon the value of assets in the client's account (an "asset-based fee"). XP Advisory’s advisory
representatives have the authority to negotiate the fee, but all fees are subject to the approval of the firm’s Head
of Wealth Management or Chief Compliance Officer.

XP Advisory charges a management fee, which is a percentage of the assets under management. On an annualized
basis, our maximum investment fees are up to 2%. The fees are based on several factors, including, but not limited
to the services offered to the client, the complexity of the services to be provided, the level of client assets
managed by XP Advisory, the inclusion of consulting services, and/or the overall relationship with XP Advisory.
Further information regarding XP Advisory US Wrap Fee Program, please see Appendix 1 – Wrap Fee Program

                                                                                                   [ CLASSIFICAÇÃO: PÚBLICA ]

Brochure. For more information on XP Advisory US SMA Wrap Fee Program, please see Appendix 1 – SMA Wrap
Fee Program Brochure.

The market value of your account will be determined by calculating the average daily balance of your account
during the preceding quarter. Account margin balances will be included in the computation of advisory fees.

For purposes of calculating investment fees, XP Advisory uses the term “Assets Under Management”, which may
be different from the asset value as reported on brokerage statements provided by the client’s account custodian.
Assets Under Management is defined as the total absolute value of the assets in the Account(s), long or short,
plus all credit balances, with no offset for any margin or debt balances.

Fees will be calculated using the following formula: Assets Under Management (based on the average daily
balance for the preceding quarter) * Annual Fee / 4 = Quarterly Fee. XP Advisory will either bill you directly for
payment of our fees or the fees will be deducted from your account. Fees are billed quarterly in arrears. Other fee
arrangements may be agreed upon but must be clearly described in the advisory agreement.

Selection of Third-Party Investment Advisors, Platforms and Programs
Recommended third-party money managers/programs charge separate fees in addition to our above referenced
management fees. The advisory fee you pay to the money manager is established and payable in accordance with
the brochure provided by each money manager to which you are referred. These fees may or may not be
negotiable. You should carefully review the recommended money manager’s brochure and consider the money
manager’s fees, program fees, and our fees to determine the total amount of fees you will pay.

We will receive a referral fee from the third-party advisor. Our compensation may differ depending upon our
individual agreement with each third-party advisor. As such, we have an incentive to recommend one third-party
advisor over another third-party advisor with whom we have a less favorable compensation arrangement or other
advisory programs offered by third-party advisors with whom we have no compensation arrangements. Clients
are not required to use the services of any third-party advisor recommended by us.

The statements you receive from the qualified custodian(s) holding your account(s) will show the amount of
advisory fees paid. You should carefully review account statements for accuracy. If you have a question regarding
your account statement, or if you did not receive a statement from your custodian, please contact us directly at
the telephone number on the cover page of this brochure.

Fees for Consolidation Services
Fees charged by XP Advisory are established in a client’s Consolidation Services Agreement. The agreed-upon fee
will be an annual fee ranging from 0.05% to 0.25% of the value of the outside assets as determined by the client’s
third-party custodian. The fee will be calculated based on the net daily average value of the client’s consolidated
assets. The fee will be charged quarterly for online portfolios and monthly for offline portfolios.

XP Advisory’s advisory representatives have the authority to negotiate the fee based on several factors, including,
but not limited to the complexity of the consolidation services to be provided, the level of client assets
consolidated by XP Advisory, and/or the overall relationship with XP Advisory. All fees are subject to the approval
of the firm’s President / Head of Wealth Management or Chief Compliance Officer.

Consolidation fees will be billed directly to the client and due within 10 days of the client’s receipt of an invoice
from XP Advisory. Alternatively, if the client maintains an account at our affiliated broker-dealer, XPI, the client
may provide XP Advisory with written authorization to deduct the consolidation fees directly from the client’s
brokerage account at XPI no sooner than 5 business days after the end of each billing period.

All fees and fee payment arrangements will be set forth in the agreement between the client and us.

                                                                                                   [ CLASSIFICAÇÃO: PÚBLICA ]

Item 7 – Types of Clients
XP Advisory provides investment advisory services for high-net-worth individuals, trusts, pooled investment
vehicles, and corporations. Most of XP Advisory’s clients are non-U.S. residents with a concentration of Latin
American clients.

The minimum investment to open and maintain an advisory account is $500,000. XP Advisory’s minimum annual fee
for all accounts and services is $5,000, which may be waived at the discretion of the principal. Upon your request,
we may aggregate related accounts for spouses and minor children for the purposes of calculating portfolio
valuation and our fees. We may negotiate our fees taking into consideration such things as the number and size
of your accounts, your relationship with other clients, the length of our relationship with you, the complexity of
your personal circumstances or desired investment strategies, and other factors.