Carraighill is a subscription-based SEC-registered investment adviser with its principal place of business located in Dublin, Ireland. The firm was founded in 2013 by James “Seamus” Murphy, our Managing Director. Carraighill is principally owned by JJSK Investments Limited, of which Seamus Murphy is the beneficial holder. Research Services Our firm provides our clients with independent research on banking and financial services companies. Currently, Carraighill focuses on the European financial sector, but we may expand the scope of our research as the needs of our clients change. Non-European and non-financial sector research are distributed separately based on client needs, and their respective subscription agreements with Carraighill. Our research is focused on a limited number of publicly traded securities at any given time; we do not intend to offer general investment research or advice. In the course of researching securities within the financial sector, we also generate valuable research on the broader financial and economic systems within which these securities operate. Carraighill bases its decision on what securities to research primarily by identifying where there is a need for additional research in the market, and so an opportunity for Carraighill to generate insight to help our clients. In this way, client needs can influence the research Carraighill provides, but our services are not otherwise tailored to client needs. Our research is delivered to clients via electronic communications. When Carraighill creates a new written investment research report on stocks and systems

it covers, or when a recommendation on a covered security changes, all clients based on their specific needs and subscription agreement will receive an email from Carraighill. Clients can choose subscription offerings that will limit both the range of products and services that they access and provide delayed access to our published research. Direct electronic communications are supplemented by stock information packs, stock financial models, system information packs, database access and other supporting content, which are all accessible on the Carraighill website. Access to these products depends on the client’s respective subscription agreement. For clients at each respective subscription level no information published by Carraighill, either via email or the website, will be communicated to any client until it has been published electronically to our website for all clients with the same subscription access. Clients may choose to receive a notification when the supporting content on the website is updated. Carraighill does not provide portfolio management services, nor does it otherwise manage client assets. Therefore, Carraighill does not have any assets under management to report. In addition to these services, Carraighill provides commentary on specific securities via various Alpha Capture programs, upon request. The commentary submitted to these programs is created by an analyst who does not have access to Carraighill research materials, nor any Carraighill research work in-progress. The analyst is supervised by Seamus Murphy. Carraighill Capital Limited |Form ADV Part 2A 5