Meros Investment Management, LP (“Meros” or the “Firm”) is an investment adviser that commenced operations on July 22, 2019 and filed for registration with the United States Securities and Exchange Commission (the “SEC”) in July 2019 in accordance with the Investment Advisers Act of 1940. Ranger GP Services, LLC serves as the general partner of Meros, and Ranger GP Services, LLC is controlled by Ranger Asset Management Company, LLC (“RAMCO”), a wholly owned subsidiary of First United Bank and Trust Company. RAMCO, Timothy Chatard, and Kevin Carrington are the limited partners of Meros. As of December 31, 2023, the Firm managed $214,959,000 of client assets on a discretionary basis. Investment Advisory Services Meros provides continuous discretionary investment advisory services and sub advisory services to separately managed accounts (“Separate Accounts” or “Clients”), including without limitations, Separate Accounts which serve as sub-advisory agreements to pooled investment vehicles and mutual funds and/or other public funds. Additionally, Meros provides non- discretionary security recommendations in the form of model accounts (“Model Accounts” or “Model Account Clients”). Investment supervisory services include: (1) establishing a Client’s investment objectives within their applicable investment strategies; (2) buying or selling portfolio securities on behalf of each Client account; and (3) periodically reporting to Clients and investors with respect to current investment holdings, valuations, transactions, capital gains or losses, investment performance, and/or outlook. The Separate Account portfolios and Model Accounts (the “Portfolios”) advised by the Firm consist primarily of U.S. exchange traded equity securities within micro-cap capitalization ranges. Generally, the Firm seeks to uncover quality investments by implementing a bottom- up, fundamental research driven security selection process by investing in companies with favorable risk reward profiles derived from the Firm’s independent research and valuation work. Please see Item 8 – Methods of Analysis, Investment Strategies & Risk of Loss. Investment Strategies The Firm offers direct investment advisory services to institutional investors such as mutual funds, private pooled investment vehicles, public and private pension plans, insurance companies, foundations, and endowments. The Firm primarily manages portfolios of micro capitalization companies which the Firm believes offer favorable risk reward characteristics. Micro-Cap Strategy: The Micro-Cap Strategy seeks long-term growth of capital by investing primarily in common stocks of domestic issuers which, at the initial time of purchase: (i) have a market capitalization of less than $1.25 billion or (ii) are within the capitalization range of issuers represented within the Russell Microcap® Index. Meros Investment Management, LP Page 2 In addition to each of the above stated investment strategies, the Firm may at the request of a Client or otherwise, offer advisory services in sub-strategies dedicated to industry specific segments

of an investment strategy, sub-capitalization ranges or expanded capitalization ranges within an investment strategy, or high concentration versions of an investment strategy. In each case, a detailed description of the applicable investment strategy will be set forth in the applicable offering documents and/or advisory agreement. Separately Managed Accounts A Separate Account is a portfolio of securities managed on a discretionary basis by the Firm on behalf of a Client, in accordance with a pre-established investment strategy. Separate Accounts are initiated through investment advisory or sub advisory agreements (“Advisory Agreements”) with the Firm, which define the terms of the Firm’s engagement, the investment strategy, and any third-party custodian or other service provider chosen by the Client. The form of Advisory Agreement is generally drafted by the Client, although at the request of a Client such agreement can be provided by the Firm. Advisory Agreements are therefore highly negotiated agreements, the terms of which may and do differ significantly on a Client-to-Client basis, including without limitation, with respect to fees or investment guidelines. Likewise, Clients may request specific terms with respect to investment guidelines and/or objectives for inclusion within the Advisory Agreement; and therefore, Clients, subject to the consent of the Firm and inclusion in the Advisory Agreement, may have portfolios within a specific Investment Strategy which differ in holdings. Generally, the minimum investment threshold required by the Firm in order to open a Separate Account is five million dollars ($5,000,000). Model Accounts Although the Firm does not currently advise model accounts, it may on a future date provide advisory services to Model Accounts initiated through Model Account agreements (“Model Account Agreements”) with the Firm, which define the terms of the Firm’s engagement, the investment strategy, and other investment parameters. The form of the Model Account Agreement is generally drafted by the Client, although at the request of the Client such agreement can be provided by the Firm. Under this arrangement, the Firm provides Model Account Clients with investment recommendations on a non-discretionary basis based on the agreed upon investment strategy, other investment parameters, and timing. Model Accounts are advised on a nondiscretionary basis, and as such the Firm does not possess the authority or responsibility to determine which securities a Model Account Client purchases or sells within any of such client’s portfolios, nor does the Firm execute any trade or engage with any broker dealers on behalf of the Client. Each Model Account Client is responsible for determining which securities to buy and sell, the execution of trades, and/or engaging with broker dealers on behalf of its underlying portfolio. Therefore, a Model Account Client’s portfolio performance and security weightings under this product may differ greatly from the Firm’s other portfolios using similar investment strategies. Meros Investment Management, LP Page 3