Firm Ownership Sicart is an investment adviser with its principal place of business in New York, New York. All four principals previously worked at Tocqueville Asset Management L.P. until September 1, 2016, when the Firm was formed as an independent investment advisory firm. Sicart Partners, LP (“SLP”) is the 100% shareholder of the Firm. The general partner of SLP is Sicart Management LLC. (“SMC”). SLP and SMC are each owned collectively by Francois Sicart, Pasty Jaganath, Allen Huang, and Bogumil Baranowski (the “Principals”). The Adviser’s business and affairs are managed by the Principals. Mr. Sicart is the Chairman of the Adviser. Advisory Services The Adviser provides investment advisory services on a discretionary basis to individuals, families, trusts, foundations, and private investment vehicles. Accounts are managed in accordance with the investment objectives or guidelines specifically discussed and reviewed with the client and, to the extent Adviser is made aware by the client of such factors, outside factors such as the client’s other assets or personal and family obligations. The Adviser provides its clients with a broad range of services, as further described below. With respect to these clients, our investment professionals (and other personnel) meet periodically with the client to review his or her investment accounts, overall financial needs and position, periodic changes in relevant information, and the relationship between the client’s assets under management with the Adviser and any other investments, in an effort to meet the individual client’s financial objectives generally. In connection with our investment supervisory services, we may also analyze and provide recommendations with respect to the client’s investments that are not managed by the Adviser. Unless otherwise instructed or directed by a client, the Adviser has the discretionary authority generally to: (i) determine the securities to be purchased and sold for the account of a client (subject to restrictions on advisory activities set forth in the applicable advisory agreement and any written investment guidelines); (ii) determine the amount of securities to be purchased or sold for the account of a client; and (iii) determine the commission rates to be paid in connection with a client’s securities transactions in connection with both typical discretionary investment management services and investment supervisory services. As described further in Section 17, the Adviser generally is granted the authority to vote all proxies solicited by or with respect to issuers of securities in which assets of a client’s account are invested from time to time. However, the Adviser is not obligated to, and does not, file claims, advise, or make decisions on a client’s behalf that relate to legal proceedings (including bankruptcies and class actions) relating to securities held or formerly held in a client’s account. Sicart advises family clients by delivering tailored family-centric wealth management services and solutions which are customized to address each family’s wealth dynamic. These tailored services are based on a comprehensive understanding of each client’s unique circumstances, asset base, interests and financial goals. The Adviser may, in the course of addressing the client’s needs and goals, also discuss

matters not related to securities or investments. Such discussions may relate to, among other matters, estate planning; retirement and pension planning; real estate; college financing; charitable gifts; inheritance taxes; medical casualty and life insurance needs; and, pension distributions including IRA and Keogh plans. Since we do not offer legal or accounting advice, we will also recommend that the client consult with an attorney or accountant before implementing many of these matters. In performing its services, Sicart will not be required to verify any information received from the client or from the client’s other professionals (e.g., attorney, accountant, etc.) and is expressly authorized to rely on such information. At the request of the client, we may provide contact information for such in v e st m en t an d no n - i n ve s tm e nt professionals who will then be engaged directly by the client on an as needed basis. Sicart does not receive any financial or economic benefit in exchange for these referrals. The client is under no obligation to engage the services of any introduced professional. The Adviser may also assist clients in analyzing potential investment opportunities in various business entities that have been proposed to the clients by third parties, including investments in limited partnerships, partnerships, joint ventures and corporations. The Adviser will also analyze these investment opportunities from a tax and economic perspective in order to assist clients. From time to time, the Adviser may give advice regarding investments in illiquid or other securities (such as restricted securities), which are not readily marketable. In addition, we may proffer advice to clients when requested to do so as to potential forms of investment not presently anticipated, including advice as to pre- existing positions in a client’s portfolio. Clients are permitted to place reasonable restrictions on investing in certain securities. Private Fund The Adviser also provides investment management services to a pooled investment vehicle, Sicart Focus Partners, LP (herein the “Fund”). The Fund relies on registration exemptions available under the Investment Company Act of 1940. An affiliate of Sicart, Sicart 2020 Partners, LLC, acts as the General Partner of the Fund. The Fund’s investment objective is to produce long-term appreciation by investing in public equities, predominantly U.S. equities. Sicart intends to employ a disciplined, focused, long only approach backed by extensive fundamental research with a long-term investment horizon. Portfolio securities are selected based on quality, purchased based on value, and held with the business owner’s mindset. The Fund is not limited to particular geographies, sectors, or market capitalization thresholds. Item 5 and Item 8 provide additional information concerning our method(s) of analysis and investment strategy/strategies. Tailored Relationships As described above, the Adviser manages client account assets based on specific investment objectives of each client, selected strategies and in accordance with any client imposed reasonable restrictions on investing in certain securities or certain types of securities. Assets Under Management As of December 31, 2022, the Adviser manages $419,667,636 in discretionary assets under management.