Yousif Capital Management LLC

ITEM 5 – FEES AND COMPENSATION
Management Fee

As compensation for our investment management services, we charge an advisory fee, which is
stated as a percentage of our Client’s assets under our management. Our standard advisory fee is
generally within the range of .08% and .35%, annually, depending on the specific strategy, Client
domicile, and account complexities. YCM reserves the right to waive or reduce fees based on our
discretion. Clients could pay a higher advisory fee depending on the specific investment mandate.
Strategies and other factors, such as those based on certain index providers, specialized strategies,
socially responsible strategies, account size and customized reporting requirements will affect the
advisory fee a Client will pay.

The minimum annual fee for YCM investment advisory services is $10,000. YCM’s fees,
including minimum annual fees, are negotiable. In YCM’s sole discretion, we may increase or
decrease our management fee and/or waive or adjust minimum annual fees based upon criteria
such as the scope of the engagement, client longevity, anticipated future additional assets, dollar
amount of assets to-be-managed, related accounts, account composition, reporting requirements,
customization of investment process, special meeting requirements or account retention, among
other factors. All investment management fees charged by YCM are provided in the Client’s
investment management agreement or sub-advisory agreement. YCM takes into consideration the
investment mandate, total market value of the account, reporting requirements, customization of
the investment process, customization of the reporting process, special meeting requirements, and

other factors provided above to negotiate fees with each client. YCM may also aggregate related
accounts for fee billing purposes.

Fees are generally billed quarterly, in arrears, on the basis of the fair market value of assets in the
portfolio, including cash and accruals, unless otherwise described in the investment management
agreement, computed as of the last business day of the preceding calendar quarter or the average
of each month-end market value held at the end of each calendar quarter. YCM also has certain
clients who will be charged in advance pursuant to a tri-party discretionary investment
management agreement or sub-advisory agreement with investment program sponsors. Some
Clients authorize YCM to debit management fees from the Client’s custodial account. Pursuant
to the Client’s investment management agreement, certain factors will influence the amount of the
quarterly fee, including but not limited to, the amount of assets invested and the timing of adding
or withdrawing capital. Client Accounts initiated or terminated during a calendar quarter are
charged a prorated fee based on the actual number of days in the applicable calendar quarter for
which we began to manage the assets in the account or were entitled to receive a fee based on the
date we received the termination notice. Fee refunds will be sent, as soon as practicable, to Clients
billed in advance should the Client terminate our agreement after the billing period.

Sub-Advisory Arrangements

When we manage an account through a sub-advisory arrangement, we typically receive a portion
of the fee charged by the account investment adviser or investment program sponsor, in accordance
with the sub-advisory agreement between us and the account investment adviser/investment
program sponsor. The fees paid to us through one sub-advisory relationship are not necessarily
the same as fees paid to us through other sub-advisory relationships and are based on many factors
including the breadth and complexity of the services we provide, the amount of assets and style of
the portfolios we manage or advise upon, and the negotiations between us and the account
advisers/program sponsors.

Other Costs Involved

Advisory fees payable to us do not include all the fees you will pay when we purchase or sell
securities for your Account(s). The following list of fees or expenses is what you may pay directly
to third parties, whether a security is being purchased, sold or held in your account(s) under our

management. We do not receive, directly or indirectly, any of these fees charged to you. They
are paid to the broker, custodian, or other third party on an investment you may hold. Typically,
these fees include, but are not limited to:

      Brokerage commissions;

      Transaction fees;

      Exchange fees;

      Advisory fees and administrative fees charged by Exchange Traded Funds (ETFs);

      Custodial Fees;

      Financial transaction taxes collected for trades and other fees on certain foreign ordinary
       securities or ADR’s;

      Transfer taxes;

      Wire transfer and electronic fund processing fees;

      Commissions or mark-ups / mark-downs on security transactions; and

      Non-resident alien tax withholding (if applicable).

For a discussion of YCM’s practices regarding broker selection, see Item 12 – Brokerage Practices.

In addition, we do not have or employ any “employee” that receives (directly or indirectly) any
compensation from the sale of securities or investments that are purchased or sold for your account
or to which we provide consulting expertise / services. As a result, we are considered a “fee only”
investment adviser.

Termination of the Advisory Relationship

Our standard agreements provide for termination by either YCM or the Client by providing 30
days’ written notice to the other party, but we agree to other termination provisions from time to
time. Upon termination, YCM will either bill Clients or issue a refund based on the earlier of 30-
day notice period or liquidation and transfer of the account.

ERISA Accounts

Fees for ERISA accounts will be based on the investment management agreement signed between
the Firm and the Client or plan administrator. In these circumstances, YCM is being engaged only
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ITEM 7 – TYPES OF CLIENTS
YCM provides investment advisory services to a number of different types of Clients, including
but not limited to:

•      Trusts, estates and charitable organizations;

•      Banking or thrift institutions, including bank collective and common trust funds;

•      Other investment advisers;

•      Corporations or other business entities;

•      Taft-Hartley plans, governmental plans, municipalities;

•      Qualified plans subject to ERISA;

•      Not-for-profit entities;

•      Individuals (through a sub-advisory agreement with another investment adviser);

•      Insurance Companies, including Captive Insurance; and

•      Institutional Clients of a third-party asset-based investment management program.

YCM generally requires that an account meet minimum annual fee amounts as described in our
fee schedules (See Item 5 – Fees and Compensation). However, we can waive this requirement
under certain conditions, such as for Clients with multiple accounts where the aggregate fee
amount from all accounts exceeds the separate account minimums.