Olden Lane Advisors LLC (“Olden Lane”) is a Delaware limited liability company that was formed in the State of Delaware in 2014 and commenced operations as an investment advisor on or about January 4, 2016. The Firm is wholly owned by Olden Lane Inc, a Delaware corporation. As a financial advisory firm, we provide consulting, investment, and financial management services. Investment advice is designed to comply with applicable industry, state, and federal regulations and tailored to the need of each client. Olden Lane provides the following types of services: (1) unit investment trust (“UIT” or “Trust”) investment recommendations and UIT portfolio supervision and valuation services, and (2) general advisory services to certain credit union and institutional clients. SERVICES OVERVIEW (1) Unit Investment Trust Investment Recommendations A UIT is an investment company regulated under the Investment Company Act of 1940, as amended (the “1940 Act”). Typically, a UIT sponsor makes a public offering of a specific, fixed number of units and an investor holds an undivided ownership interest in the underlying investment portfolio. A UIT does not actively manage or trade its investment portfolio and the portfolio holdings of a UIT are listed in its prospectus. The terms and conditions, together with the risks, of each UIT are described in its offering and governing documents (collectively, the “UIT Documents”). Our investment recommendations, supervision and valuation services are provided to the UIT and its sponsor, which is an affiliated entity, Olden Lane Securities LLC (“OLS”). OLS is a broker-dealer registered with the Financial Industry Regulatory Authority (“FINRA”) and the Securities Investor Protection Corporation (“SIPC”). For these services, our clients are the UIT and its sponsor. Please note, however, that the key personnel of Olden Lane are also the key personnel of OLS. We discuss how we monitor potential conflicts due to this overlap in personnel in Item 11 below. OLS sponsors various series of UITs registered with the Securities and Exchange Commission (“SEC”) under the 1940 Act. Typically, the UITs that OLS will sponsor will have a term of between one and twelve years. The term is stated in the relevant UIT Documents. While the fundamental structures of the UITs will be similar in most respects, the investment objectives of each UIT are likely to differ. The constituents of a particular UIT’s portfolio will be acquired and then deposited with the Custodian (as defined in the UIT Documents), in exchange for units of fractional undivided interest (“Units”) in the deposited portfolio. These Units will then be offered to the public through the sponsor (identified as the “Depositor” in the UIT Documents) and dealers at a public offering price. During the initial offering period, the public offering price will be based upon the aggregate market value of the underlying portfolios, or, for any holding in the portfolio not listed on a securities exchange, the aggregate offering side evaluation of that underlying portfolio holding, plus a front-end sales charge, including a creation and development fee and/or a deferred sales charge paid to the sponsor. This sales charge will be the maximum amount applicable to any specific UIT. Purchases and Redemptions of Units Investment Recommendations We may provide investment recommendations to the sponsor of UITs in connection with the selection of a UIT’s portfolio. Our investment recommendations are not limited to any specific product or service and will primarily include advice regarding the following asset types:
• Exchange listed, NASDAQ and DTC equity securities;
• Non-US securities;
• Fixed-income securities, including, without limitation, notes, strips and zero-coupon bonds;
• Treasuries, Cash and Cash Equivalents;
• Exchange listed and OTC derivative contracts (may include over-the-counter or centrally cleared options, swaps or other contracts having payments or deliveries based on interest or other rates, currencies, commodities, securities, bonds, indices, quantitative measures, or other financial or economic indicia);
• Futures and Commodities;
• Mortgage-backed securities or other obligations issued or guaranteed by the United States of America or by any agency or instrumentality thereof (plus any contract securities, replacement securities, or additional securities);
• Municipal securities;
• Certificates of participation;
• Interests in public or private funds or commodity pools; and
• Open-end and closed-end management investment companies. Our investment recommendations will be tailored to each UIT and will be based on information gathered from the relevant UIT Documents and communications with the UIT sponsor. Information will be gathered by telephone, e-mail and in-person discussions. Our affiliate, OLS, May Maintain a Secondary Market for the Units Units of a UIT may be purchased or redeemed on any business day through an investor’s financial advisor or other financial intermediary, which can either redeem units through the Trust’s transfer agent or sell units back to OLS. OLS may, but is under no obligation to, repurchase units from unitholders who want to redeem their units; any repurchases will be at the redemption price. OLS is not obligated to maintain a market and may stop doing so without prior notice for any reason. If OLS stops repurchasing units, a unitholder’s financial intermediary may dispose of units by redemption through the transfer agent of the UIT. The price received from the Trust by the unitholder for units being redeemed is generally based upon the sales price of the related Trust property. In addition, as stated in the UIT Documents, the maximum sales charge may be reduced for officers, directors, and employees of the sponsor and of certain affiliates of the sponsor. Unit Investment Trust Supervision and Valuation Services Olden Lane also provides supervision and valuation services to these UITs. Our firm acts as the supervisor and valuation evaluator to the UITs, as provided under the UIT Documents and the Master Services Agreement (“MSA”) with the Trust. We monitor each UIT’s portfolio to ensure the portfolio maintains its sound investment character, in accordance with the relevant UIT Documents and our independent judgment. Once a portfolio is selected, it remains fixed until the termination of the UIT. However, the UIT Documents will generally set forth a limited number of circumstances in which the Trust may buy or sell securities, such as when a security has significant credit issues. We also monitor on a regular basis, as needed, the UIT’s portfolio for the financial viability of an issuer or the security’s creditworthiness. In our capacity as the evaluator to the UITs, we will also determine the valuation of each security or other asset in the UIT’s portfolio daily, allowing for the calculation of the UIT’s daily net asset value (“NAV”). We may, but are not required to, use certain independent pricing services to provide valuation services to the UITs. Administrative Services to the UITs, including Custodial Arrangements OLS, the sponsor of the UITs, will provide administrative services, e.g., bookkeeping, to the UITs. The full suite of services to be provided to the UITs are detailed in the MSA, as supplemented or amended for each UIT by its Series MSA Supplement that incorporates by reference the MSA and describes any exclusions from, or additions or exceptions to, such incorporation by reference for each UIT. Among other issues, the MSA describes the custody arrangements with the third-party custodian retained for each UIT; when certain administrative fees will be imposed, if provided for in the relevant UIT Documents; and how tax reporting is prepared. Initially, the Bank of New York Mellon will act as third-party

custodian for each of the UITs. The MSA and each Series MSA Supplement will be publicly available at www.sec.gov as part of the S-6 filing for the UIT and should be reviewed by a prospective investor before making an investment decision to invest in such UIT. (2) Credit Union Advisory and Hedging Services We offer both investment and balance sheet advisory services for credit unions and a limited number of institutional clients. Investment advisory services are provided predominately on a non- discretionary basis. This means that the Chief Financial Officer or other designated officer at the client must approve each trade or strategy before executing the transaction. From time to time, we may also offer a discretionary portfolio management service. Our investment strategies generally focus on the high credit quality sectors that serve as the primary investment sectors for credit unions. The types of securities or obligations about which we advise clients include, but are not limited to: U.S. Treasury securities, U.S. Government Agency and Sponsored Entity securities, Short-term Taxable State and Municipal securities, Mortgage- Backed securities, Real Estate Mortgage Investment Conduits, Asset-Backed securities, Corporate Bonds, Commercial Paper, Mutual Funds, CDs and other bank deposits, interest rate caps and floors, interest rate swaps, and interest rate futures. We do not advise on or manage equities, equity like securities or initial public offerings (IPOs). Initially, we review the client’s investment and asset/liability policies and recommend appropriate adjustments, as necessary. We meet with management, in person, through video conference or telephonically, to elicit information on the types of investments the institution uses and to educate on available securities and the market more generally. Periodically, we engage with clients to ensure ongoing monitoring of the policies and to provide updates on evolving market conditions. We use financial modeling to analyze the client’s balance sheet and to understand the timing and risks of the assets and liabilities. We also review net interest income and net economic value simulations to consider the amount of interest rate risk on a balance sheet. Typically, we use such evaluations to structure an investment portfolio that manages the interest rate risk in accordance with the client’s risk tolerances and allowances. We assist in optimizing this process to gain incremental investment return or yield to enhance the overall return on assets within a suitable risk profile tailored for each client. Following a review and any adjustments of our client’s investment and asset/liability management policies and consideration of their current portfolio and of economic conditions, we design a proposed portfolio structure and investment strategy appropriate to their balance sheet. We then manage the client’s investment portfolio on a non-discretionary basis in accordance with this strategy. This strategy generally is reviewed and, if appropriate, revisions suggested at least every three months. We can tailor clients’ reports which include a review of the overall portfolio and investment strategy, Asset Liability Management (“ALM”) and economic analysis and interest rate shocks. Hedging Services The Firm’s hedging engagements typically begin by analyzing the client’s balance sheet and identifying inherent market risk. We measure this risk against offsetting financial support provided through earnings and capital and the risk tolerance of the client. Hedging is used by institutions that assume interest rate risk by virtue of their portfolio concentrations of fixed-rate real estate loans or, in the case of pre-existing conditions, other types of long-term fixed-rate investment balances. Credit unions choosing to engage in interest rate derivative contracts should do so only in accordance with safe and sound business practices and in keeping with the regulatory guidance offered by the National Credit Union Administration (“NCUA”) and certain state regulators. As such, our hedging programs are designed to limit interest rate risk exposure, not to speculate. The hedging instruments we use are interest rate swaps, interest rate caps and floors, and interest rate futures. As part of our engagement, we typically provide educational sessions to assist management in their understanding of derivatives. We require our clients review and understand all analyses we provide prior to inception of the program. And we liaise with their auditor to determine the hedge type (fair value, cash flow, etc.) and assist in the hedge accounting process. Mortgage Pipeline Hedging Services The Firm assists credit unions with hedging to manage the risks involved in the mortgage pipeline. Our clients typically mitigate mortgage pipeline risk by hedging in the capital markets using TBA MBS (to-be-announced mortgage-backed securities). Our program typically includes these three steps:
• Developing and maintaining models and accurate data
• Creating pipeline stages and fallout ratios
• Computing the Required TBA Hedge Position Subordinated Debt Related Services Through its affiliated broker-dealer, Olden Lane Securities, LLC, Olden Lane offers consultative assistance to credit unions in connection with the preparation of regulatory applications to issue subordinated debt. Since 1996, low-income designated credit unions (“LICUs) have been able to issue subordinated debt with the approval of the NCUA’s Regional Director. Due to a regulatory change, beginning in January 2022, two new eligible categories of credit unions – “complex credit unions” and “new credit unions” – were also permitted to issue subordinated debt. Olden Lane regularly advises these credit unions throughout the subordinated debt process. Following an approval and a decision by a credit union to access the market, our affiliated broker/dealer, Olden Lane Securities LLC, also assists credit unions in the preparation of a securities offering to secure such funding. Subordinated Debt has been an important regulatory benefit available to federally insured credit unions with a low-income designation and is now available to a wider cohort of credit unions. In connection with advising a credit union in respect of its subordinated debt strategy, Olden Lane typically reviews the credit union’s investment portfolio management practices, its compliance with regulatory standards, and its internal policies and procedures. From time to time, in connection with its subordinated debt work, Olden Lane may also provide its credit union clients with recommendations for changes in portfolio mix, maturity, structure, and risk thresholds. Wrap Fee Programs Olden Lane does not participate in wrap fee programs. Assets under Management As of the date of this brochure, the firm has approximately $19 million in assets under supervision. Advisory Service Agreement Our clients choose Olden Lane to manage their assets and provide ongoing advice consistent with their goals, concentration limits, risk tolerance, strategy, and regulatory requirements. In each case, the scope of work and fees are provided to the client in a written contract. Fees are listed in the contract and the contract must be signed by both the client and an Olden Lane officer before we begin an engagement. Our Advisory Service Agreements generally have a term of one year and automatically renew for a period of one year unless we or the client provide written notice to terminate the agreement within 30 days prior to the expiration of the current year. We bill monthly in advance. A prorated portion of any fees that had been prepaid at the date of termination of the agreement are refunded. Most fees are negotiable.