FIRM DESCRIPTION Patterson Partners Ltd. (hereinafter referred to as "Patterson Partners", "we", "us", or "our firm") is a Bermuda-incorporated private limited company with its principal office located in Pembroke, Bermuda. We have been providing investment advisory services outside of the United States since 2006 and became an SEC-registered investment adviser in December 2019.The principal owner of the firm is Jeffrey Patterson.
As a registered investment adviser, we are a fiduciary to you, our client, meaning we have a fundamental obligation to act and provide investment advice that is in your best interest. Should any material conflicts of interest exist that might affect the impartiality of our investment advice, they will be disclosed to you in this Brochure. We urge you to review this Brochure carefully and consider our qualifications, business practices and the nature of our advisory services before becoming our client.
ADVISORY PROGRAMS Patterson Partners Ltd. is a fee-only firm, meaning the only compensation we receive is from our Clients for our services. From time-to-time. Patterson Partners Ltd. recommends third-party professionals such as attorneys, accountants, insurance agents or other financial professionals. Clients are never obligated to utilize any third-party professional we recommend. Patterson Partners Ltd is not affiliated with nor does Patterson Partners Ltd. receive any compensation from third-party professionals we may recommend.
Our advisory services are offered through certain individuals who have registered with Patterson Partners as its investment adviser representatives ("advisors"). Clients should refer to such advisor's Form ADV Part 2B (the "Brochure Supplement") for more information about their qualifications. Patterson Partners enters into formal written client services agreements with our clients setting forth the terms and conditions under which we will provide our advisory services (the "Engagement Agreement"). The Engagement Agreement set forth the scope of the services to be provided and the compensation we receive from the client for such services. The Engagement Agreement may be terminated by either party in writing at any time by giving thirty (30) days signed written notice to the other party.
Our advisors offer the advisory services described below to our clients: Investment Advisory Services. Patterson Partners provides continuous advice to a Client regarding the investment of Client funds based on the individual needs of the Client.
•Investment Management Services. To engage us for our Investment Management Service, you first must engage us for a limited financial planning service (discussed below), at a minimum. In addition, we prefer to help you design and implement investment strategies for all of the investment assets on your "Life+Wealth balance sheet", no matter how those assets are held (directly owned, held in trusts, held in privately owned companies or held in private foundations), and regardless of which investment firm is making the day-to-day investment decisions. The strategies we use are described in Item 8, below. 4 Investment Management Services may be obtained from Patterson Partners through a separate Engagement Agreement. Patterson Partners may recommend to its financial planning and financial consultation clients that they retain the Firm as their investment advisor to implement its recommendations and such a recommendation may be viewed as a conflict of interest. Through personal discussions in which goals and objectives based on a Client's particular circumstances are established, we develop a Client's personal investment policy or an investment plan with an asset allocation target and create and manage a portfolio based on that policy and allocation targets. We will also review and discuss a Client's prior investment history, as well as family composition and background. Account supervision is guided by the stated objectives of the Client (e.g. maximum capital appreciation, growth, income, or growth and income), as well as tax considerations and risk tolerance.
We primarily advise our Clients regarding investments in equities (common stocks and equivalents), mutual funds, exchange traded funds, U.S. treasuries and bonds, municipal securities and cash and cash equivalents. Patterson Partners may also utilize, where appropriate, options contracts, foreign currencies to purchase foreign securities and derivatives to hedge against foreign currency exchange rates. Our advice is generally limited to these types of investments, but we reserve the right to advise or not advise our clients on certain investments should we deem it appropriate based on their particular circumstances. Additionally, we may advise you on various types of investments based on your stated goals and objectives. We may also provide advice on any type of investment held in your portfolio at the inception of our advisory relationship. Since our investment strategies and advice are based on each client's specific financial situation, the investment advice we provide to you may be different or conflicting with the advice we give to other clients regarding the same security or investment. Although we seek to accommodate any reasonable investment restrictions or guidelines set by our clients, we may decline to accommodate certain investment restrictions that are incompatible with our firms' investment philosophy or that may have an adverse effect on our ability to manage your account.
We provide discretionary investment management services where the client grants our firm full power to direct, manage, and change the investment and reinvestment of the assets in the account, the proceeds and any additions. Our firm manages the client's account(s) without client consultation after the initial establishment of the client's investment objectives and appropriate asset allocation. Our authority over the client's investments includes discretionary authority to purchase and sell securities for the client's account, to submit aggregated trade orders for the client and others in order to obtain best execution, and to give instructions concerning these transactions to the qualified custodian with which the client's account(s) are held. We are not required to first consult with the client before placing any specific order or obtain specific authorization from the client for each specific transaction. Our firm receives discretionary authority from our clients through our Engagement Agreement at the outset of our advisory relationship. We do not manage accounts on a non-discretionary basis.

•Investment Consultation Services. Our firm's investment consultation services may involve developing asset allocation, assisting in asset selection and portfolio design, providing information on investment vehicles and strategies, reviewing employee retirement plans and stock options or restricted stock units, as well as assisting clients in establishing their own investment account at a selected broker-dealer or custodian. The strategies and types of investments we may recommend are further discussed in Item 8 of this Brochure. 5 Unless Investment Consultation is specifically mentioned, the financial plan does not include the recommendation of specific investment vehicles nor the development of an Investment Policy Statement as these are provided under our Investment Management Services.
This service typically begins with a financial planning engagement, providing each client with a foundation: a personalized plan that includes stated goals and objectives as well as an evaluation of the client's current and forecasted financial status, an estimation of cash flow, asset values and expected income.
Financial Planning and Consulting Services.
•Life Design includes discovery of life transitions currently experiencing or expected at some point in the future, desires, values that tie to policy or themes that may guide decisions in one or more areas. This also covers "Empowered Vision" which is ultimately a tool for facilitation and guidance during goal creation.
•Protect the Plan covers wealth management strategies that intend to preserve an individual or family's wealth and protect it from potential risks. This consists primarily of various types of insurance: life insurance, long-term care insurance, property and casualty, insurance, medical insurance. It also consists of the use of legal structures in more than one country, kidnap and ransom and other types of asset protect Financial planning involves an evaluation of a Client's current and future financial state by using currently known variables to predict future cash flows, asset values, and withdrawal plans. The key defining aspect of financial planning is that through the financial planning process, all questions, information, and analysis will be considered as they affect and are affected by the entire financial and life situation of the Client. Clients purchasing this service will receive a written or electronic report summarizing our findings with potential steps and choices that should be considered to improve his or her financial position and/or achieve stated goals.
In general, the financial plan will address some or all of the following areas of concern. The Client and Patterson Partners Ltd. will work together to select specific areas to cover. These areas may include, but are not limited to the following: ion type strategy.
•Estate Planning consists of strategic planning for asset transfer at death as well as the tracking of any documents that may be relevant to an individual's estate. It also involves charitable planning and gifting strategies. This includes beneficiary designations, legal documents such as trusts and wills, and the assignment of legal representatives.
•Human Capital + Tax Filter focuses on planning for income and taxes. This consists of protecting and growing future income, analyzing current and future cash flow objectives and needs, as well as income tax planning. If you are an employee, we will provide review and analysis as to whether you are taking the maximum advantage possible of your employee benefits. If you are a business owner, we will consider and/or recommend the various benefit programs that can be structured to meet both business and personal goals.
•Cash Design focuses on lifestyle costs now and in the future. It also consists of the optimal allocation of cash in the present to support current lifestyle costs, commitments made in the past and future obligations. Advice may also be provided on any liabilities, including prioritization of debt payoff ensuring efficiency based on factors including interest rates and income tax ramifications. We may also recommend what we believe to be an appropriate cash reserve that should be considered for emergencies and other financial goals, along with a 6 review of accounts (such as money

market funds) for such reserves, plus strategies to save desired amounts.
•Financial Capital is concerned with the ownership and maintenance of any financial assets reflected on the "Life+Wealth Balance Sheet". It also involves the appropriate management of the mix of asset classes reflected on the balance sheet needed to achieve your financial goals, typically focusing on financial independence as the primary objective. This can include individual savings, managed investment accounts, retirement plans, business ownership, real estate, home ownership and non-traditional assets. For situations where projections show less than the desired results, we may make recommendations, including those that may impact the original projections by adjusting certain variables (e.g. working longer, saving more, spending less, adjusting asset allocation strategy). If you are near retirement or already retired, advice may be given on appropriate distributions strategies to minimize the likelihood of running out of money or having to adversely alter spending during your retirement years.
Financial Planning and Consulting Services are offered on a Project-Based and/or via an Ongoing engagement.
Ongoing Financial Planning. This service involves working one-on-one with an advisor over an extended period of time. Through this ongoing arrangement, Clients are expected to collaborate with the advisor to develop and assist in the implementation of their Life+Wealth Achievement Plan™ (the "plan").
All changes will be reviewed jointly and weighed against alternatives to make adjustments to the plan before implementation. Throughout the subscription period the plan will be updated and reviewed as progress toward your goals is being made.
This service provides on-going, on demand, comprehensive financial planning for a fixed fee over the course of a year. Clients will have at least two scheduled meetings during the year, depending on their individual situation, goals and desires. Along with scheduled meetings, clients have unlimited access to the firm via email and/or phone or web-based communication channels to discuss changes to the analysis or any questions they may have.
Project-Based Financial Planning. We provide project-based financial planning services on a limited scope one-time engagement. Project-Based Financial Planning is available for Clients looking to address specific questions or issues. Project-Based Financial Planning typically includes one of the following, and unless otherwise specified, the Client will be ultimately responsible for the implementation of the financial plan.

•Relocation or Repatriation is a limited engagement service for those clients considering, or who will be transitioning from one country to another. In general, this service is focused on material changes to the current financial situation that can be reasonably expected due to the relocation. Once the material impact is quantified, a financial transition plan can be developed to achieve short term goals associated with the relocation. This service is often combined with other financial planning services needed to ensure that the client's Cross-Border Life+Wealth Plan™ is completed and implemented.
•Divorce Patterson Partners will work with clients going through divorce to organize financial documents, analyze expenses and assets, prepare detailed budgets, analyze the long-term implications of multiple settlement options, and produce financial statements needed to make 7 informed decisions relating to the divorce process.
•U.S. Tax Planning may include ways to minimize current and future income taxes based on a specific set of facts, including consideration of expatriation. We can prepare tax projections and estimates throughout the year and provide tax research when warranted. In certain situations, we may recommend that you consult with an attorney before initiating any recommendations. We will participate in meetings or phone calls between you and outside professionals with your approval.
For clients who receive our Financial Planning services, we must state when a conflict exists between the interests of our firm and the interests of our Client. The Client is under no obligation to act on Patterson Partners' recommendations. Moreover, if a client elects to act on any of the recommendations, the client is under no obligation to effect the transactions through Patterson Partners.
Educational Seminars/Speaking Engagements We may provide educational seminars for those desiring general advice on personal finance and investing. The content of these seminars will vary depending upon the needs of the attendees. These seminars are purely educational in nature and do not involve the sale of any investment products. The information presented will not be based on any individual person's need, nor does Patterson Partners Ltd provide individualized investment advice to attendees during these seminars.
Other Services. Patterson Partners offers the following other services:
•U.S. Tax Compliance Services. Taxes are an integral part of our clients' financial life. Therefore, we offer U.S. tax preparation services to help clients navigate the complexities. Patterson Partners Ltd. will prepare individual, trust and gift and estate tax returns for clients. In addition, we prepare Distributable Net Income schedules for trustees of foreign trusts with US beneficiaries who are our clients. Finally, we coordinate with other tax preparers as needed for clients with tax returns in countries besides the United States.
•Daily Money Management Services. As personal financial matters become more complicated, finding time to focus on the daily tasks of money management becomes more difficult. For seniors, this service can provide comfort of another set of eyes reviewing documents and ensuring bills are paid, potentially delaying any need for family members to step in. For busy professionals, and those with multiple properties, this service can ensure that tasks are being done to keep your household operating, freeing you up to focus on other important things like your family and career or a business while keeping you informed of where your finances stand, avoiding late fees and ensuring that nothing falls through the cracks. This service complements our advisory services by facilitating the completion of day-to- day tasks.
By organizing and maintaining accurate financial records we are also able to compile the necessary documents for tax preparation. Actual work depends on client need but may include bill paying, including contacting vendors regarding incorrect bills, maintaining organization of bank and other account records, reconciling accounts, organizing tax documents and other financial paperwork, creation of financial statements from personal finance software.

•U.S. Individual Retirement Accounts (IRA) Rollover Considerations. Investors considering rolling over assets from a qualified employer-sponsored retirement plan ("Employer Plan") to an Individual Retirement Account ("IRA") should review and consider the advantages and disadvantages of an IRA rollover from their Employer Plan. A plan participant leaving an employer typically has four options (and may engage in a combination of these options): (1) leave the money in the former employer's plan, if permitted; (2) rollover the assets to a new 8 employer's plan (if available and rollovers are permitted); (3) rollover Employer Plan assets to an U.S. IRA; or, (4) withdraw the Employer Plan assets and pay the required taxes on the distribution. At a minimum, Investors should consider fees and expenses, investment options, services, penalty-free withdrawals, protection from creditors and legal judgments, required minimum distributions, and employer stock. Patterson Partners encourages you to discuss your options and review the above listed considerations with an accountant, third-party administrator, investment advisor to your Employer Plan (if available), or legal counsel, to the extent you consider necessary. By recommending that the client rollover their Employer Plan assets to an U.S. IRA, Patterson Partners may earn asset-based fees as a result. In contrast, leaving assets in their Employer Plan or rolling the assets to a plan sponsored by their new employer likely results in little or no compensation to Patterson Partners. Patterson Partners has an economic incentive to encourage investors to rollover Employer Plan assets into an U.S. IRA managed by Patterson Partners. Investors may face increased fees when they move retirement assets from an Employer Plan to a rollover IRA account. We operate under a fiduciary standard when giving advice of any kind. The client us under no obligation to roll U.S. retirement plan assets to an account managed by us.
IRA Rollover Recommendations Effective December 20, 2021 (or such late date as the US Department of Labor ("DOL") Field Assistance Bulletin 2018-02 ceases to be in effect), for purposes of complying with the DOL's Prohibited Transaction Exemption 2020-02 ("PTE 2020-02") where applicable, we are providing the following acknowledgement to you. When we provide investment advice to you regarding your retirement plan account or individual retirement account, we are fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts. The way we make money creates some conflicts with your interests, so we operate under a special rule that requires us to act in your best interest and not put our interest ahead of yours. Under this special rule's provisions, we must:
• Meet a professional standard of care when making investment recommendations (give prudent advice);
• Never put our financial interests ahead of yours when making recommendations (give loyal advice);
• Avoid misleading statements about conflicts of interest, fees, and investments;
• Follow policies and procedures designed to ensure that we give advice that is in your best interest;
• Charge no more than is reasonable for our services; and
• Give you basic information about conflicts of interest. We benefit financially from the rollover of your assets from a retirement account to an account that we manage or provide investment advice, because the assets increase our assets under management and, in turn, our advisory fees. As a fiduciary, we only recommend a rollover when we believe it is in your best interest. Wrap Fee Programs. Patterson Partners does not participate in any wrap fee programs. Client Assets Under Management - As of July 2023, Patterson Partners managed approximately $25,632,154 of client assets on a discretionary basis. Clients may request more current information at any time by contacting our firm.
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