New Capital Management LP (“NCM”), a Texas limited partnership, is a fee-only investment and financial advisory firm started in 2004. Leonard M. Golub is the firm’s founder, shareholder, and advisor. The general partner of New Capital Management LP is Solaris Advisors LLC, a Texas limited liability company, with Mr. Golub being the only owner of over 25% of NCM’s limited partnership interests. Mr. Golub graduated from Amherst College (Massachusetts) in 1989 (Bachelor of Arts), from the University of Texas McCombs School of Business in 1999 (Master of Business Administration) and earned the Chartered Financial Analyst designation in 2003. New Capital Management’s primary practices are investment management and wealth management. NCM specializes in broadly diversified portfolios primarily employing institutional no-load, low-expense mutual funds on behalf of clients. NCM employs primarily passively managed (“index fund”) strategies for clients (especially for equity exposure) but may also utilize a substantial allocation to actively managed funds. NCM believes that it can efficiently deliver meaningful diversification to clients along the following critical dimensions:
• Category (Equity, Fixed Income, Real Estate, Commodities, etc.)
• Geography (Domestic, Foreign, Emerging Markets, etc.)
• Industry (Energy, Technology, Financial, etc.)
• Capital Structure (Equity, Debt, Convertible Debt, etc.)
• Equity Style (Large, Small, Value, Growth, etc.)
• Alternatives (Hedge mutuals, Hedge funds, Private Equity funds, etc.) [note: these are sparingly used by New Capital Management given their high fee structures) Clients may seek greater or lesser levels of portfolio customization with NCM, which may also include the imposition of restrictions on the acquisition of certain securities or types of securities. NCM offers socially responsible investments to clients who want them. NCM also provides management, for a fee, of client held-away assets, such as

401(k) assets, in order to better integrate them into an overall portfolio strategy. NCM also has significant expertise in the management of positions of low-cost basis/highly appreciated stock, including the use of options to hedge concentrated equity positions. NCM, itself and in conjunction with other professional advisors, also provides advisory services in the following areas:
• Estate Planning
• Insurance Planning
• Tax and Accounting
• Education Planning
• Charitable Planning
• Real Estate
• Business Planning
• Asset Protection
• Career/Retirement Planning Upon review of a client's financial status, NCM may propose that the client include, as part of his or her financial portfolio, one or more types of products that are not part of the investment advisory services provided by NCM, such as insurance products. If the client chooses to include such a product in his or her financial portfolio, NCM recommends that the client work closely with his or her attorney, accountant, insurance agent and other related professionals. Incorporation of the non- advisory financial product into the client's financial plan is entirely at the client's discretion. For insurance products, NCM provides access to a platform of insurance products by DPL Financial Partners, LLC ("DPL"). The client is under no obligation to use DPL's service and may seek insurance advice from any licensed agent. The insurance products and fee structures available from DPL may differ from those available from other third-party insurance agents. NCM recommends that the client fully evaluate products and fee structures to determine which arrangements are most favorable to the client prior to making an investment decision. NCM does not receive compensation for insurance products selected by the client, whether secured through DPL or any other agent, but may assess additional fees for such products and associated advisory services directly from the client.