Advisory Firm Sherman Asset Management, Inc. has been in business since February 2014. Roy Sherman is the founder and President and has been in the financial services industry since 2014. Roy Sherman owns 100% of Sherman Asset Management, Inc. Advisory Services Sherman Asset Management, Inc. (“SAM”) provides financial planning and asset management services for individuals, trusts, and businesses. For prospective clients who do not require continuous supervisory services SAM offers consulting arrangements for a negotiated fee based upon the scope of the consultation. As of January 4, 2024, Sherman Asset Management, Inc. has $121,813,639 of assets under supervision on a discretionary basis. Services are based on the individual needs of the client. An initial interview and data gathering questionnaire is undertaken to determine the client's personal goals, investment objectives, and financial resources, and to give the client the opportunity to impose reasonable restrictions on the management of the account. Clients have the ability to leave standing instructions with the IA Rep to refrain from investing in particular securities or types of securities, or invest in limited amounts of securities. Quarterly the IA Rep will notify the client in writing to contact the IA Rep if there have been any changes in the client's financial situation or investment objectives, or to impose or modify account restrictions. The IA Rep will contact or attempt to contact the client annually on these matters. It is the client's responsibility to notify the IA Rep at any time there are changes. Clients may call in at any time during normal business hours to discuss directly with the IA Rep about the client's account, financial situation, or investment needs. Clients will receive from the custodian/brokerage firm timely confirmations and at least quarterly statements containing a description of all transactions and all account activity. The client will retain rights of ownership of all securities and funds in the account to the same extent as if the client held the securities and funds outside the program. Financial Planning Services The goal of these services is to identify personal goals, investment objectives, and financial resources of the client. Based upon the client interview, questionnaire, and client profile SAM will supply ongoing recommendations to align the personal goals, investment objectives, and financial resources with one another. The process of these services typically includes:

a. Understanding the client’s personal and financial circumstances; b. Identifying and selecting goals; c. Analyzing the client’s current course of action and potential alternative course(s) of action; d. Developing recommendations e. Presenting the recommendations f. Assisting with the implementation of recommendations (if requested by the client); and/or g. Monitoring progress and updating plan. The client retains the sole responsibility for determining whether to implement any recommendations made by SAM. There is no requirement that the client implement any recommendations through SAM. The client should understand that the recommendations represent a conflict of interest since SAM will receive fees, compensation or other concessions for the performance of Asset Management Services (see below). The client always has the right to select any advisory firm, insurance agency or representative to implement the advice and recommendations provided by SAM and/or its IA Rep. Asset Management Services Asset Management Services entail the continuous discretionary management of the client’s investment account(s). The client may elect to have all, a portion, or none of its investment accounts managed while receiving Financial Planning Services. As part of its SAM’s Asset Management Services, SAM will provide clients with reviews and analysis as to annuities, life insurance, long-term personal care, and disability offerings through SS&C Advent Insurance Marketplace (the “Marketplace”), which integrates DPL Financial Partners’ (“DPL’s”)1 fee- only insurance technology platform. As part of the Service, SAM will evaluate commission-free products believed to be in the client's best interest and open policies as may be needed. It will be at the client’s discretion as to whether an annuity or insurance product is purchased or not. SAM will also leverage the Marketplace’s custodial data feed to access enhanced insurance reporting within the platform. This integration allows SAM to provide clients a complete financial picture with a full reconciliation of accounts, including position and transaction data, fee calculations and robust reporting. SAM does not receive any monetary compensation or other incentive from the Marketplace or DPL for participating in the Marketplace or for recommending their products to clients. However, as a fee-only investment adviser, SAM charges for this Service as a percentage of assets under management as further disclosed in