Bruce & Co., Inc. is a SEC-registered investment adviser with its principal place of business located in Illinois. Bruce & Co., Inc. began conducting business in 1974. Listed below are the firm's principal shareholders (i.e., those individuals and/or entities controlling 25% or more of this company). . Robert Jeffrey Bruce Bruce & Co., Inc. offers the following advisory services to our clients: INVESTMENT SUPERVISORY SERVICES ("ISS") INDIVIDUAL PORTFOLIO MANAGEMENT Our firm provides continuous advice to a client regarding the investment of client funds based on the individual needs of the client. Through personal discussions in which goals and objectives based on a client's particular circumstances are established, we develop a client's personal investment policy and create and manage a portfolio based on that policy. During our data-gathering process, we determine the client’s individual objectives, time horizons, risk tolerance, and liquidity needs. As appropriate, we also review and discuss a client's prior investment history, as well as family composition and background. We manage these advisory accounts on a discretionary or non-discretionary basis. Account supervision is guided by the client's stated objectives (i.e., maximum capital appreciation, growth, income, or growth and income), as well as tax considerations. Clients may impose reasonable restrictions on investing in certain securities, types of securities, or industry sectors. Our investment recommendations are not limited to any specific product or service offered by a broker-dealer or insurance company and will generally include advice regarding the following securities: . Exchange-listed securities . Securities traded over-the-counter . Foreign

issuers . Warrants . Corporate debt securities (other than commercial paper) . Commercial paper . Certificates of deposit . Municipal securities . Mutual fund shares . United States governmental securities . Interests in partnerships investing in real estate Because some types of investments involve certain additional degrees of risk, they will only be implemented/recommended when consistent with the client's stated investment objectives, tolerance for risk, liquidity and suitability. MUTUAL FUND PORTFOLIO MANAGEMENT Our firm provides discretionary portfolio management services to clients using individually tailored portfolios. Each portfolio is designed to meet the client's particular investment goal. Bruce & Co., Inc. provides these services to the Bruce Fund, Inc. (the "Mutual Fund"), a mutual fund registered under the Investment Company Act of 1940. Bruce & Co., Inc. serves as the investment manager to the Mutual Fund, and continuously manages the fund assets based on the investment goals and objectives as outlined in the Mutual Fund's prospectus. Interested investors should refer to the Mutual Fund's prospectus and Statement of Additional Information ("SAI") for important information regarding objectives, investments, time-horizon, risks, fees, and additional disclosures. These documents are available on-line at www.thebrucefund.com. Prior to making any investment in the fund, investors and prospective investors should carefully review these documents for a comprehensive understanding of the terms and conditions applicable for investment in the Mutual Fund. AMOUNT OF MANAGED ASSETS As of 12/31/2023, we were actively managing $473,946,686 of clients' assets on a discretionary basis.