4. A. Advisory Firm Description Asset Preservation Advisors, LLC (“APA”) was established in 1989 by Kenneth R. Woods. Principal Owners. iM Square Holding 8, LLC and APA Fixed Income Advisors, LLC. APA Fixed Income Advisors, LLC is principally owned by: Kenneth Woods, Chairman, Partner Charles Doty, Co-Chief Executive Officer, Partner Kevin Woods, Co-Chief Executive Officer, Chief Investment Officer, Partner APA provides municipal bond investment advisory services to its clients in separately managed accounts, as well as managing municipal bond funds formed as limited partnerships. Additionally, APA provides sub-advisory services to clients of unaffiliated investment advisers who have engaged APA for its experience and expertise in managing municipal bond portfolios. APA provides discretionary and non-discretionary investment supervisory services that include ongoing monitoring and supervision of client assets. 4.B. Types of Advisory Services APA provides investment advisory and management services: (1) as a discretionary investment adviser to institutional and retail separate account clients; and (2) as a discretionary investment adviser to private pooled investment vehicles (“Private Funds”) organized as domestic limited partnerships. APA’s investment advice is limited to tax- exempt and taxable municipal bond portfolios. 4.C. Client Investment Objectives/Restrictions APA's investment advisory services are provided based on the individual needs of a client and stated objectives, guidelines and restrictions of the account. In making investment decisions on behalf of the client, APA shall rely upon information provided by the client or by an intermediary on behalf of a client. Investments for separately managed client accounts are managed in accordance with each client’s stated investment objectives, strategies, restrictions and guidelines. Investments for Private Funds are managed in accordance

with the fund’s investment objective, strategies and restrictions and are not tailored to the individualized needs of any particular investor in the fund (each an “Investor”). Therefore, Investors should consider whether the Private Fund meets their investment objectives and risk tolerance prior to investing. Information about each Private Fund can be found in its offering documents, including its private placement memorandum (“PPM”), which will be available to qualified current and prospective investors only through APA or another authorized party. APA Form ADV Part 2A 5 March 27, 2024 4.D. Wrap-Fee Programs APA has entered into agreements with Wrap program sponsors. These are sub-advisory relationships where the Program Sponsor provides investment supervisory services to its clients, including making recommendations concerning an investment adviser to render certain investment advice with respect to a client's portfolio. The client enters into an agreement with the Program Sponsor and the Program Sponsor has a separate master agreement with APA. For Wrap program accounts, APA may affect transactions through other broker-dealers in order to seek to obtain the best execution for each client Account. We manage the Wrap program accounts on a discretionary basis. APA receives a portion of the wrap fee from the sponsor as an investment adviser to these programs. In these relationships, APA may not have direct contact with the underlying client, as we do with our direct accounts. APA attempts to manage these accounts in the same manner as our non-wrap accounts managed in the same strategy. The management styles offered by APA to client participants in these wrap-fee programs vary among the different programs. 4.E Client Assets as of December 31, 2023: Assets Under Management: Discretionary basis: $6,927,768,523; 2,148 accounts Non-Discretionary basis: $170,308; 1 account Assets Under Advisement: $105,164,463; 1 account