# Idealx Auto Pilot Fee Schedule Version 2.3 | Published 28 September 2026 Read with your completed account and service particulars. Application ----------- The final provider-approved calculation policy, valuation process, administration tests, fee recipient and collection particulars are required before customer activation. 1. Management fee ----------------- The fee is 0.99% per annum of daily net managed assets including managed cash, after investment liabilities but before that day’s management accrual. It excludes unmanaged assets and is not calculated on leveraged gross exposure. Use the actual days in each calendar year. Accrue daily and deduct monthly in arrears. No minimum fee or dollar cap applies. Rates include GST where applicable. The 0.99% includes Idealx’s platform management component. Do not add the ordinary 0.20% strategy-service fee. Stop accrual on assets when management ends as specified in document 30; a provider-caused transfer delay does not extend it. 2. Performance fee and annual hurdle ------------------------------------ The performance fee is 15% of qualifying net investment profits above the higher of the adjusted high-water mark and the applicable 5% annual hard-hurdle threshold. It is not 15% of every positive return. There is no catch-up on the first 5% and no dollar cap. The 5% hurdle is a fee threshold, not a forecast, benchmark promise or minimum return. Each account’s calculation year runs from activation anniversary to anniversary. For a first or shortened period, use a time-proportionate hurdle. Annual hurdle shortfalls do not accumulate, but the high-water mark preserves unrecovered losses. 3. Net performance and valuation -------------------------------- Measure total portfolio return after management fees, transaction costs and other portfolio costs and before the performance fee and personal tax. Include recognised income, distributions, realised and unrealised changes consistently. Do not treat deposits as profit or withdrawals as loss. Income retained by a provider and not attributable to the Client is not client performance. Use reliable consistent valuations and FX sources. Accruals are estimates until crystallisation and reverse when no longer earned. Suspend crystallisation on unverifiable values; make corrections and refunds for overcharges. Do not deduct a second cost already embedded in a net asset price. 4. High-water mark ------------------ The opening high-water mark equals the initial net capital. After a fee crystallises, increase the mark to the relevant post-performance-fee value if higher. Do not reduce it because of market losses, year-end, staff changes or a change of holdings. Cash-flow adjustments preserve the loss history attributable to remaining capital. Amounts still below their adjusted high-water mark cannot incur a performance fee. Switching Auto Pilot off and back on is not used to erase an existing client’s loss recovery protection on continuing capital. 5. Contributions, withdrawals and calculation records ----------------------------------------------------- Maintain capital-lot or equivalent equalisation records so each contribution has an appropriate start value, high-water mark and elapsed-time hurdle. Allocate portfolio performance and costs consistently. No new contribution inherits a charge for gains earned before it arrived or resets the loss protection of earlier capital. Partial withdrawals remove proportionate capital and associated thresholds under a consistently applied method. Calculate any payable performance fee only on the exiting portion; retain loss and hurdle records for the balance. Distributions must be included once in total return and adjusted in capital records so they do not create artificial profit or loss. The administrator must document the exact cash-flow methodology before issue and demonstrate equivalent outcomes for deposits, withdrawals, distributions, loss recovery and re-entry. The stated percentages do not authorise inconsistent rounding or discretionary retrospective calculation choices. 6. Crystallisation and collection --------------------------------- Crystallise on the activation anniversary and on the relevant withdrawn or terminated portion. Ending management alone does not create a fee if thresholds are not met. Accrued performance fees must be reflected in client reporting so a later debit is not presented as an unexpected loss. Deduct from the identified managed cash account under valid authority. Any sale to meet fees must be allowed by the mandate and implemented reasonably. Fee collection must not create unapproved borrowing, use another legal account or seize unrelated self-directed assets. 7. Worked examples — no intervening flows ----------------------------------------- Assume starting capital and high-water mark of $100,000, a full year and no deposits or withdrawals. All ending values below are AFTER the management fee and other portfolio costs but BEFORE performance fees; the examples do not calculate those other charges. Ending value $112,000: hurdle threshold $105,000; eligible excess $7,000; performance fee $1,050; ending value after performance fee $110,950. New high-water mark $110,950. Ending value $104,000: below the $105,000 hurdle, so no performance fee. Ending value $90,000: no performance fee and the $100,000 high-water mark remains. Following a loss to $90,000, a later full-year recovery to $99,000 still produces no performance fee despite exceeding that year’s $94,500 hurdle: the $100,000 high-water mark has not been recovered. A recovery to $102,000 would produce a fee only on $2,000 in this simplified example. Management fee illustration: if the daily fee base were $100,000 throughout a full year, the management fee would be $990. Actual fees vary with daily values. The examples exclude personal tax and are not return forecasts. 8. Other costs and double charging ---------------------------------- Identify actual brokerage, FX, external fund costs, custody charges and adviser charges in the completed cost summary. This schedule does not introduce unspecified additional fees or replace their existing agreed basis. Costs embedded in a fund price remain relevant to total cost disclosure. Waive or credit overlapping Idealx management and performance fees when Auto Pilot uses an underlying Idealx-managed strategy. Separate independently contracted advice fees require valid disclosure and authority. Cash-interest retention, if lawfully implemented, must be disclosed separately rather than described as cost-free cash management. 9. Fee authority and changes ---------------------------- The acceptance screen displays the rates, calculation method, cost summary, recipient, collection account and payment timing. Obtain any prescribed separate written ongoing-advice fee consent, including required dollar amounts or reasonable estimates and renewal details. Withdrawal of such consent is handled under applicable law; a general MDA checkbox cannot keep it alive indefinitely. No fee increase applies retrospectively. Material changes require appropriate advance disclosure and acceptance. Platform may offer disclosed discounts, waivers or negotiated rates, recorded in the Client’s fee schedule. Individual managed strategies have their own rates; this schedule does not set them.