In 2021, Badgley Phelps Wealth Managers, LLC acquired the investment advisory business of Badgley Phelps Wealth Managers which was founded in 1966 in Seattle, Washington. Our firm offers personalized wealth and investment management services to individuals and families, and investment management services to corporations, retirement plans, endowments and foundations. Our approach is to help our clients establish goals and customize strategies to meet their financial objectives. We accomplish this through a disciplined investment management process built on equity, fixed income and alternative security selection methodology, financial planning, and with client-focused service. Badgley Phelps is part of the Focus Financial Partners, LLC (“Focus LLC”) partnership. Specifically, Badgley Phelps is a wholly-owned indirect subsidiary of Focus LLC. Ferdinand FFP Acquisition, LLC is the sole managing member of Focus LLC. Ultimate governance of Focus LLC is conducted through the board of directors at Ferdinand FFP Ultimate Holdings, LP. Focus LLC is majority-owned, indirectly and collectively, by investment vehicles affiliated with Clayton, Dubilier & Rice, LLC (“CD&R”). Investment vehicles affiliated with Stone Point Capital LLC (“Stone Point”) are indirect owners of Focus LLC. Because Badgley Phelps is an indirect, wholly-owned subsidiary of Focus LLC, CD&R and Stone Point investment vehicles are indirect owners of Badgley Phelps Focus LLC also owns other registered investment advisers, broker-dealers, pension consultants, insurance firms, business managers and other firms (the “Focus Partners”), most of which provide wealth management, benefit consulting and investment consulting services to individuals, families, employers, and institutions. Some Focus Partners also manage or advise limited partnerships, private funds, or investment companies as disclosed on their respective Form ADVs. We offer clients the option of obtaining certain financial solutions from unaffiliated third-party financial institutions through UPTIQ Treasury & Credit Solutions, LLC (together with UPTIQ, Inc. and its affiliates, “UPTIQ”). Please see Items 5 and 10 for a fuller discussion of these services and other important information. We help our clients obtain certain insurance solutions from unaffiliated, third-party insurance brokers by introducing clients to our affiliate, Focus Risk Solutions, LLC (“FRS”), a wholly owned subsidiary of our parent company, Focus Financial Partners, LLC. Please see Items 5 and 10 for a fuller discussion of this service and other important information. Badgley Phelps is managed by Julie Parisio Roy, Steven C. Phelps, Timothy J. Thomas, J. Kevin Callaghan, Curtis L. Pepin, Patrick D. Rodgers, Calvin J. Spranger, Katherine D. Wham and Megan E. Wiley (“Badgley Phelps Principals”), pursuant to a management agreement between BP Partners, LLC and Badgley Phelps. The Badgley Phelps Principals serve as leaders and officers of Badgley Phelps and are responsible for the management, supervision, and oversight of Badgley Phelps. As of December 31, 2023, Badgley Phelps had $4,770,716,800 in assets under management on a discretionary basis and $ 355,543,632 in assets under management on a non-discretionary basis. Wealth and Investment Management Services Wealth managers at Badgley Phelps work with each client to develop an asset allocation which is aligned with the client’s financial goals for each portfolio and/or client relationship. To determine the appropriate asset allocation, we work to develop a clear understanding of our clients’ overall investment situation, risk tolerance, return objectives, tax circumstances and income needs. For most of our clients, this is done by preparing a financial plan. The concept of asset allocation, or spreading investments among several asset classes, is in the forefront of our strategy. Once we have concluded this review with our clients and determined the appropriate asset allocation, our investment process is implemented. Clients that wish to restrict investing in certain securities can do so by notifying their wealth manager. At our clients’ request, we will also work with their other professional advisors, such as attorneys and accountants, to provide assistance regarding tax, estate planning and other issues that can impact our clients’ financial well-being. Our investment management services include equity only, fixed income only, and balanced portfolio management. Brief descriptions follow: Equity management utilizes fundamental/bottom-up research and analysis in our security selection process and focuses on identifying companies with either strong and consistent earnings growth or attractive valuation. Medium to large capitalization stocks and American Depositary Receipts (“ADRs”) registered on U.S. stock exchanges with a consistent growth or relative value bias are selected within the consistent growth and relative value portion of our clients’

equity portfolios. We manage consistent growth and relative value portfolios using model portfolios which generally contain 30 to 40 stocks each. In addition, we seek exposure to small and mid-sized U.S. companies in our clients’ portfolios by recommending a model portfolio consisting of mutual funds or Exchange Traded Funds (“ETFs”). We also recommend that our clients seek investment returns from non-U.S. markets, so we generally allocate a portion of a client’s portfolio to international stocks by investing in a model portfolio of mutual funds or ETFs. Fixed income management emphasizes a diversified portfolio of high-quality, short- and intermediate-term bonds. Our focus is on client specific solutions based on the client’s tax rate and portfolio guidelines. In tax-exempt portfolios, we generally purchase U.S. government, governmental agency, and high-quality corporate bonds. For taxable portfolios, we typically invest in high-quality municipal bonds, depending upon the client’s state of residence and tax status, and fixed income market conditions. Fixed income portfolios can also be structured to meet both short-term and long- term investment goals. In addition to equity and fixed income securities, alternative strategies can be used to further diversify our clients’ portfolios. If appropriate, we add an alternative strategy to a client’s portfolio using a model comprised of mutual funds, ETFs and Exchange Traded Notes (“ETNs”). Mutual funds, ETFs and ETNs can be used to enhance the risk-adjusted returns of our clients’ investment portfolios by investing in securities that have, for example, a low historical correlation with the stock and bond markets. The goal of this “multi-strategy” process is to diversify the portfolio, help smooth returns, reduce volatility and decrease asset-class risks. Oftentimes, these securities focus on a shorter investment time horizon than our typical client portfolios. Generally, we allocate a smaller percent of a client’s portfolio to alternative investments. Balanced portfolio management combines equity, fixed income and alternative investment management methodologies. For those clients who select balanced management, a target allocation between equity, fixed income, alternative assets and cash is determined at the onset of a client relationship based on the client’s particular investment goals and requirements. Once this allocation is established, the portfolio is balanced to this target allocation ratio. Typically, accounts are reviewed for asset allocation rebalancing at least once every three months. The asset allocation target is periodically reviewed with our clients and will be revised to meet changing client investment objectives and goals, ERISA Plans. Badgley Phelps is a fiduciary under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), with respect to investment services and investment advice provided to ERISA plan clients, including plan participants. Badgley Phelps is also a fiduciary under section 4975 of the Internal Revenue Code (the “IRC”) with respect to investment management services and investment advice provided to individual retirement accounts (“IRAs”), ERISA plans and ERISA plan participants. As such, Badgley Phelps is subject to specific duties and obligations under ERISA and the IRC that include, among other things, prohibited transaction rules which are intended to prohibit fiduciaries from acting on conflicts of interest. When a fiduciary gives advice in which it has a conflict of interest, the fiduciary must either avoid or eliminate the conflict or rely upon a prohibited transaction exemption (a “PTE”). As a fiduciary, we have duties of care and of loyalty to you and we are subject to obligations imposed on us by the federal and state securities laws. As a result, you have certain rights that you cannot waive or limit by contract. Nothing in our agreement with you should be interpreted as a limitation of our obligations under the federal and state securities laws or as a waiver of any unwaivable rights you possess. We also provide an additional service for client “held-away” accounts, which are client accounts that are held at a custodian that is not directly accessible by Badgley Phelps. For these accounts, we use a third-party order management system to implement asset allocation and/or rebalancing strategies for client assets that Badgley Phelps does not directly manage. The accounts that are typically managed under this system include retirement accounts as well as other held-away accounts. We regularly review and rebalance the current holdings and available investment options in these held- away accounts and then implement the client’s investment strategies as appropriate. The current order management system used by Badgley Phelps for held-away accounts is provided by Pontera Solutions, Inc. Further information about this service is available in Item 5 – Fees and Compensation.