A. Firm Information Cypress Wealth Management LLC (“Cypress Wealth” or the “Advisor”) is a registered investment advisor with the U.S. Securities and Exchange Commission. The Advisor is organized as a Limited Liability Company (LLC) under the laws of the State of Delaware. Cypress Wealth was founded in December 2022 and is owned by WISLIM Investments LLC and MAWO Capital I LLC. The Advisor is operated by Christopher Hughes (Managing Principal and Chief Investment Officer) and John Staab (Investor Relations Manager). This Disclosure Brochure provides information regarding the qualifications, business practices, and the advisory services provided by Cypress Wealth. B. Advisory Services Offered Cypress Wealth offers investment advisory services to high net worth individuals, trusts, estates, businesses, and retirement plans (each referred to as a “Client”). Cypress Wealth also provides investment advisory services to two pooled investment vehicles, through which its Clients access certain investment opportunities. The Advisor serves as a fiduciary to Clients, as defined under the applicable laws and regulations. As a fiduciary, the Advisor upholds a duty of loyalty, fairness and good faith towards each Client and seeks to mitigate potential conflicts of interest. Cypress Wealth's fiduciary commitment is further described in the Advisor’s Code of Ethics. For more information regarding the Code of Ethics, please see Item 11 – Code of Ethics, Participation or Interest in Client Transactions and Personal Trading. Wealth Management Services Investment Management Services - Cypress Wealth provides customized investment advisory solutions by working closely with each Client to identify their investment goals and objectives as well as risk tolerance and financial situation in order to create a portfolio strategy. Cypress Wealth will recommend an investment portfolio primarily consisting of alternative investments, individual stocks, bonds, options, mutual funds, exchange traded funds (“ETFs”),. Cypress Wealth will also recommend investments into pooled investment vehicles (“Private Funds”) where the Advisor or an affiliate of the Advisor acts as the investment manager of the Private Funds, as further discussed in Item 10 – Other Financial Industry Activities and Affiliations and Item 11 – Code of Ethics, Participation or Interest in Client Transactions and Personal Trading. The Advisor may retain certain types of legacy investments based on portfolio fit and/or tax considerations. Cypress Wealth’s investment strategies are primarily long-term focused, but the Advisor may buy, sell or re-allocate positions at any time to meet the objectives of the Client or due to market conditions. Cypress Wealth seeks to construct, implement, and monitor the portfolio to meet the goals, objectives, circumstances, and risk tolerance agreed to by the Client. Each Client will have the opportunity to place reasonable restrictions on the types of investments to be held in its portfolio, subject to acceptance by the Advisor. Cypress Wealth evaluates and selects investments for inclusion in Client portfolios only after applying its internal due diligence process. Cypress Wealth may recommend, on occasion, redistributing investment allocations to diversify the portfolio. Cypress Wealth may recommend specific positions to increase sector or asset class weightings. The Advisor may recommend employing cash positions as a possible hedge against market movement. Cypress Wealth may recommend selling positions for reasons that include, but are not limited to, harvesting capital gains or losses, business or sector risk exposure to a specific security or class of securities, overvaluation or overweighting of the position[s] in the portfolio, change in risk tolerance of the Client, generating cash to meet Client needs, or any risk deemed unacceptable for the Client’s risk tolerance. Under certain circumstances, Cypress Wealth may accept or maintain custody of Client’s funds or securities. Please see Item 15 – Custody for more information. Retirement Accounts – When the Advisor provides investment advice to Clients regarding ERISA retirement accounts or individual retirement accounts (“IRAs”), the Advisor is a fiduciary within the meaning of Title I of the Employee Retirement Income Security Act (“ERISA”) and/or the Internal Revenue Code (“IRC”), as applicable, which are laws governing retirement accounts. When deemed to be in the Client’s best interest, the Advisor will provide investment Page 5 advice to a Client regarding a distribution from an ERISA retirement account or to roll over the assets to an IRA, or recommend a similar transaction including rollovers from one ERISA sponsored Plan to another, one IRA to another IRA, or from one type of account to another account (e.g. commission-based account to fee-based account). Such a recommendation

creates a conflict of interest if the Advisor will earn a new (or increase its current) advisory fee as a result of the transaction. No client is under any obligation to roll over a retirement account to an account managed by the Advisor. Financial Consulting Services Cypress Wealth will typically offer a variety of financial consulting services, pursuant to a written financial consulting agreement. Services are offered in several areas of a Client’s financial situation, depending on their goals and objectives. Generally, such financial consulting services involve rendering a specific financial consultation based on the Client’s financial goals and objectives. This consulting may encompass one or more areas of need, including but not limited to, investment planning, retirement planning, personal savings, education savings, and other areas of a Client’s financial situation. A financial consultation rendered to the Client will usually include general recommendations for a course of activity or specific actions to be taken by the Client. For example, recommendations may be made that the Client start or revise their investment programs, commence or alter retirement savings, establish education savings and/or charitable giving programs. Cypress Wealth may also refer Clients to an accountant, attorney or other specialists, as appropriate for their unique situation. For consulting or ad-hoc engagements, the Advisor may not provide a written summary. Consulting recommendations pose a conflict between the interests of the Advisor and the interests of the Client. For example, the Advisor has an incentive to recommend that Clients engage the Advisor for investment management services or to increase the level of investment assets with the Advisor, as it would increase the amount of advisory fees paid to the Advisor. Clients are not obligated to implement any recommendations made by the Advisor or maintain an ongoing relationship with the Advisor. If the Client elects to act on any of the recommendations made by the Advisor, the Client is under no obligation to implement the transaction through the Advisor. Private Fund Advisor Cypress Wealth also serves as an investment advisor to two Private Funds (the “CWM Funds”). These services are detailed in the offering documents for the CWM Funds, which include as applicable, operating agreements, private placement memorandum and/or term sheets, subscription agreements, separate disclosure documents, and all amendments thereto (“Offering Documents”). The CWM Funds are the means by which Clients access certain investment opportunities, as further described in the Offering Documents. The Advisor manages the CWM Funds based on the investment objectives, policies and guidelines as set forth in their respective Offering Documents and not in accordance with the individual needs or objectives of any particular investor therein. Each prospective investor interested in investing in a CWM Fund is required to complete a subscription agreement in which the prospective investor attests as to whether or not such prospective investor meets the qualifications to invest in the CWM Fund and further acknowledges and accepts the various risk factors associated with such an investment. For more detailed information on investment objectives, policies and guidelines, please refer to the respective CWM Fund’s Offering Documents. C. Client Account Management Prior to engaging Cypress Wealth to provide investment advisory services, each Client is required to enter into an agreement with the Advisor that defines the terms, conditions, authority and responsibilities of the Advisor and the Client. These services may include:
• Establishing an Investment Strategy – Cypress Wealth, in connection with the Client, will develop a strategy that seeks to achieve the Client’s goals and objectives. Page 6
• Asset Allocation – Cypress Wealth will develop a strategic asset allocation that is targeted to meet the investment objectives, time horizon, financial situation and tolerance for risk for each Client.
• Portfolio Construction – Cypress Wealth will develop a portfolio for the Client that is intended to meet the stated goals and objectives of the Client.
• Investment Management and Supervision – Cypress Wealth will provide investment management and ongoing oversight of the Client’s investment portfolio. D. Wrap Fee Programs Cypress Wealth does not manage or place Client assets into a wrap fee program. Investment management services are provided directly by Cypress Wealth. E. Assets Under Management As of December 31, 2023 the Advisor managed approximately $226,200,000 in Client assets, all of which are managed on a discretionary basis. Clients may request more current information at any time by contacting the Advisor.