CMI was founded in 1978 as a division of Folger Nolan Fleming Douglas Incorporated (“FNFD”), a dually registered broker-dealer and investment adviser, and is now a wholly owned, indirect subsidiary of FNFD. FNFD is principally owned by several trusts of which members of the Folger family are beneficiaries. CMI provides discretionary investment management services to clients and has full power and authority to buy and sell stocks, bonds and other securities for their accounts. CMI generally manages client accounts using a buy and hold strategy. Each account is customized according to the investment objectives and risk tolerances of the client and is managed individually. Trades for clients are generally placed on an account by account basis. Clients may request that restrictions be imposed on investment in certain securities or types of securities or on the amount of certain securities or types of securities in their portfolios. CMI’s buy and hold strategy is based on the principle that investments on behalf of clients will generally be held for the longer term. CMI invests in equity securities, almost all of which have large market capitalizations and are widely traded in public securities markets. For clients seeking fixed income investments, CMI invests in U. S. Treasury securities, Agency securities, municipal bonds and corporate fixed income securities. Treasury Bills may be purchased for cash management purposes, liquidity needs, or as a fixed income investment strategy. Clients can elect to purchase Treasury Bills on their own, independent of their CMI account, in which case they will not be charged a management fee on those securities. CMI may purchase exchange traded funds (“ETFs”)

for clients in order to gain exposure to international equity securities, U.S. small-and mid-cap equity securities, and certain equity market sectors, such as biotechnology, information technology, publicly-traded real estate investment trusts (“REITs”), and other sectors and markets. CMI may also purchase fixed income ETFs. The Investment Policy Committee (“IPC”) of CMI maintains a list of equity securities that may be purchased for client accounts for which CMI provides discretionary management services (“Buy List”). The members of the IPC are Neil C. Folger, who serves as Chair, David M. Brown, and Richard S. Foster. Neil C. Folger is a Senior Portfolio Manager of CMI and a Registered Principal and Registered Representative of FNFD. David M. Brown is a Senior Portfolio Manager of CMI and a Registered Representative of FNFD. Richard S. Foster is President, Chief Executive Officer, Treasurer and Chief Operating Officer of CMI and FNFD and a Registered Principal and Registered Representative of FNFD. Periodically, the IPC adds securities to or deletes securities from the Buy List based on recommendations by CMI Senior Portfolio Managers. CMI also may provide sub-advisory services to clients of FNFD. CMI may manage all or a portion of a client’s assets as a sub-advisor in certain wrap fee programs made available by FNFD. Wrap fee program fees in general include both transaction costs and management fees in one overall fee. For additional disclosure of this relationship see the sections entitled Fees and Compensation and Other Financial Industry Activities and Affiliations. As of December 31, 2023, CMI managed $ 1,160,788,029 of client assets on a discretionary basis.