Neumann Capital Management, LLC (“NCM”) is an independent wealth management firm that was established in 1990. The principal owners of the firm are Caroline Gorham, CFP®, Ekaterina Atanassov, CFA®, CFP®, and Daniel Platt, CFA®, CFP®. Ninette Hereford, CFP®, is NCM’s Director of Operations and Client Services. Caroline Gorham, CFP® is the firm’s Chief Compliance Officer. We manage approximately $506 million of client assets (as of 12/31/2023) on a discretionary basis (see Item 16 – Investment Discretion). NCM offers two wealth management programs: the Comprehensive Wealth Management Program and the Essential Wealth Management Program. Comprehensive Wealth Management Program NCM provides in-depth investment and financial planning services to our Comprehensive Wealth Management clients. Generally, our services combine portfolio management, financial planning, and financial consultations under a single fee. At the start of your relationship with NCM, you’ll meet with our wealth management team to discuss your specific goals and objectives. We’ll discuss your needs for estate planning, insurance, strategies for gifting, college funding, etc. We’ll have you complete our Client Questionnaire. The questionnaire is designed to provide us with detailed information about you. We’ll also help you set up the necessary accounts and transfer your assets to the account custodian we use, Charles Schwab & Co., Inc. (together with its affiliates “Schwab”) (see Item 12 – Brokerage Practices). We’ll prepare a personalized financial plan and an investment policy statement suited to your goals and objectives. We’ll run your financial plan using the Monte Carlo simulation1 to forecast the likelihood that you’ll have adequate funds to meet your goals. We’ll develop an asset allocation and financial strategy that is tailored to your needs and risk tolerance. We’ll meet and discuss the achievability of your goals and how we plan to assist you in reaching your destination. We’ll rebalance your portfolio(s) as needed. We’ll choose securities for your portfolio(s) (see Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss). 1 The Monte Carlo Simulation is based on the realistic assumption that investment returns are never constant. Our modeling simulates both good and bad market returns of various lengths and combinations over decades, running 10,000 simulations. This intricate process helps us understand the return/risk tradeoff that will best fit the specific needs and circumstances of each client. We’ll take into account your tax situation and any restrictions you may have regarding specific securities or types of securities. Along the way, we’ll familiarize you with our reports, review your objectives, and personally answer all of your questions. Each quarter we’ll provide you with reports on your portfolio(s). Periodically, we’ll also provide you with information about the market and other topics that relate to financial planning. As needed, we’ll meet with you to ensure that we remain on track. We’ll re- forecast your financial plan as necessary to meet the needs of different phases of your life or for any changes in your personal priorities. We’ll stay the course to help you evaluate all your financial opportunities – like refinancing your mortgage or purchasing a vacation home – analyzing the impact on your ability to realize your goals. We’ll work with your other professional advisors to help ensure that the strategy for managing your wealth remains properly integrated. For instance, we may:  Contact your CPA to discuss year-end tax planning and/or the tax consequences of various events or transactions.  Coordinate discussions with your Insurance Agent on your insurance needs.  Work with your Attorney on estate planning matters. Essential Wealth Management Program In addition to the more extensive wealth management services offered to our Comprehensive Wealth Management clients as described above, NCM provides more streamlined portfolio-management-only services to our Essential Wealth Management clients. We use the Institutional Intelligent Portfolios® platform (“Platform”), offered by Schwab Performance Technologies (“SPT”), a software provider to independent investment advisors to operate this automated investment program (the “Program”). SPT is an affiliate of Charles Schwab & Co., Inc. (“CS&Co”), a broker-dealer registered with the U. S. Securities and Exchange Commission (“SEC”), a member of the Financial Industry Regulatory Authority (“FINRA”) and a member of the Securities Investor Protection Corporation (“SIPC”).2 2 This brochure was produced by Neumann Capital Management, LLC (“NCM”). NCM is independent of and has no affiliation with Schwab Performance Technologies (“SPT”), Charles Schwab & Co., Inc. (“CS&Co”), or any of their affiliates (together,

“Schwab”). Schwab has not created, supplied, licensed, endorsed, or otherwise sanctioned this brochure nor has Schwab independently verified any of the information in it. Institutional Intelligent Portfolios® is an automated investment management service for independent advisors offered by SPT and available exclusively through independent investment advisory firms like NCM. NCM, not Schwab, is responsible for advising you on the Program, including recommending and selecting a portfolio appropriate for you and managing your portfolio on a discretionary basis. Your portfolio will be held in a brokerage account at CS&Co. “Institutional Intelligent Portfolio” is a registered trademark of Charles Schwab & Co., Inc. If you retain NCM for access to the Program, you are provided with investment suitability and investment strategy advice but more limited management services that do not include the wealth management, financial planning, financial consultation, or routine in-office meetings and in-depth account reporting provided to our Comprehensive Wealth Management clients. Through the Program, you are offered a range of investment strategies we have constructed and manage, each consisting of a portfolio of exchange traded funds (“ETFs") and a cash allocation. Each participating client's portfolio is held in a brokerage account(s) opened by the client at CS&Co. NCM is independent of and not owned by, affiliated with, sponsored by, or supervised by SPT or CS&Co or any of their other affiliates (together, "Schwab"). Under the Program, NCM, and not Schwab, is your investment advisor and primary point of contact. We are solely responsible, and Schwab is not responsible, for determining the appropriateness of the Program for you, choosing a suitable investment strategy and portfolio for your investment needs and goals, and managing that portfolio on an ongoing basis. NCM has contracted with SPT to provide us with the Platform, which consists of technology and related trading and account management services for the Program. The Platform enables NCM to make the Program available to our clients online and includes a system that automates certain key parts of our investment process (the “System”). The System includes an online questionnaire that helps us determine your investment objectives and risk tolerance and to select an appropriate investment strategy and portfolio. Please note that a portfolio will be recommended via the System in response to your answers to the online questionnaire. You may then indicate an interest in a portfolio that is one level less or more conservative or aggressive than the recommended portfolio. Then, together we will make the final decision and select a portfolio based on all the information we have about you. The System also includes an automated investment engine through which we manage your portfolio on an ongoing basis through automatic rebalancing and tax-loss harvesting (if you are eligible and elect it). NCM charges an investment management fee for our services as described below under Item 5 Fees and Compensation. Our fees are not set or supervised by Schwab. Clients do not pay brokerage commissions or any other fees to Schwab as part of the Program. Schwab does receive other revenues in connection with the Program. Please Note: When we provide investment advice to you regarding your retirement plan account or individual retirement account (IRA), we are fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act (ERISA) 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:
• Give prudent advice - meet a professional standard of care when making investment recommendations
• Give loyal advice - never put our financial interests ahead of yours when making recommendations
• 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
• Give you basic information about conflicts of interest Service Limitations: Unless expressly agreed to in writing and executed by NCM, we do not provide any services that are not specifically discussed in this brochure. Client Obligations: In performing its services, NCM shall not be required to verify any information received from you or from your other professionals and is expressly authorized to rely thereon. Moreover, you are advised that it remains your responsibility to promptly notify us if there is ever any change in your financial situation or investment objectives for the purpose of reviewing, evaluating, revising our previous recommendations and/or services.