EM 4 Who We Are MMHP Investment Advisors1 (hereinafter referred to as “the Company”, “we”, “us” and “our”) is a registered investment advisor2 incorporated in March of 1992 as a Georgia corporation. We offer investment management services3 designed to assist you, our client4, in achieving your financial goals. Owners The following persons control the Company: Name Title CRD# Fred E. Murphy, IV Managing Director 2186554 David J. Middleton Managing Director & Chief Compliance Officer 1894996 Our Mission Our mission is to provide you with superior investment solutions that address your unique investment objective and tolerance for risk. We will come along side and assist you with navigating the maze of financial alternatives you will encounter during your lifetime, so that intelligent, informed economic decisions can be made. Assets Under Management All investment management services are offered on a discretionary basis; however, we do maintain a few non-discretionary accounts for retirement planning purposes. Assets under advisement are accounts we have referred to a third-party money manager to independently handle all asset management strategies in your portfolio account(s). As of December 31, 2022, our assets totaled: Discretionary Accounts ............................................. $348,828,628 Non-Discretionary Accounts ....................................... $0 Assets Under Advisement5 ......................................... $0 1 MMHP Investment Advisors is the doing-business-as name for Murphy, Middleton, Hinkle & Parker, Inc. 2 The term “registered investment advisor” is not intended to imply that MMHP Investment Advisors has attained a certain level of skill or training. It is used strictly to reference the fact that we are “Registered” as a licensed “Investment Advisor” with the United States Securities & Exchange Commission – and “Notice Filed” with such other State Regulatory Agencies that may have limited regulatory jurisdiction over our business practices. 3 MMHP Investment Advisors is a fiduciary, as defined within the meaning of Title I of the Employer Retirement Income Security Act of 1974 (“ERISA”) and/or as defined under the Internal Revenue Code of 1986 (the “Code”) for any investment management services provided to a client who is: (i) a plan participant or beneficiary of a retirement plan subject to ERISA or as described under the Code; or (ii) the beneficial owner of an Individual Retirement Account (“IRA”). 4 A client could be an individual, a family office, a foundation or endowment, a corporation and/or small business, a charitable organization, a trust, an estate, a retirement plan or any other type of entity structure to give investment advice. 5 Assets Under Advisement are account assets managed by third-party money managers (“Portfolio Managers”). Assets managed by Portfolio Managers are not included in our “Regulatory Assets Under Management” calculation in our Form ADV Part 1A, Item 5.F unless we have discretionary authority to hire and fire Portfolio Managers and reallocate your assets without your prior consent. For information on our advisory business see “Services We Offer” below. You can also read more about our investment services under “Portfolio Management” and “Portfolio Monitoring” that includes the cost of our services in Item 5, “Fees & Compensation.” What We Do We manage wealth. Our investment services begin with a pre-advisory consultation with you to discuss issues such as your current income and expenses, career, and personal goals, along with additional information we may gather about you through a profile questionnaire6 to ascertain your investment return expectations, risk tolerance, and suitability. If you have difficulty expressing your monetary needs or do not truly have a grasp of your overall personal finances, a financial plan may be suggested before proceeding with any investment services. Our meetings with you to discuss your finances, and, if necessary, develop a financial plan, will help to eliminate much of the guesswork in achieving the security and independence you desire and simplify your financial alternatives. In return, we will have: v Defined and narrowed objectives and investment options; v Identified areas of greatest distress; v Developed a strategy for addressing concerns about the future; v Cultivated peace of mind; and, v Created a unique picture of your overall economic personality. Once your financial parameters have been identified, we will prepare an investment plan that outlines what asset mix is most suitable for your unique investment expectations and risk tolerance. This investment plan will guide us in the management of your account(s), and as a standard against which to measure future results and to make modifications where necessary. Services We Offer Investment Management We offer two investment management options based on your financial needs. These services include: (1) Portfolio Management; and (2) Portfolio Selection and Monitoring. Portfolio Management Our Portfolio management strategies focus on designing a portfolio allocation of equities (stocks) and fixed income/debt (“bond”) instruments, and a mix of investment company products (mutual funds), exchange traded funds (ETFs) to achieve the best return on your investment capital. Depending on our proprietary growth and value equity investment strategies, your investment portfolio will consist of those securities that we feel can perform well versus popular market indices over a complete market cycle. You will find more information about our management services under “Portfolio Management” in Item 5, “Fees & Compensation” below and further description of our investment strategies under Item 8, “Methods of Analysis, Investment Strategies & Risk of Loss.” 6 The profile questionnaire we use is an important tool in gathering information about your investment methodology, risk tolerance, income/tax bracket, liquidity, time horizons, etc. If you elect not to answer the questionnaire or choose to respond with limited input, it is possible that we could operate in a handicapped capacity contrary to your investment needs. Therefore, if you desire the most effective and accurate recommendations regarding your managed account(s), you should make every effort to provide us with your detailed personal needs and objectives, along with detailed financial and tax information. Portfolio Monitoring Portfolio monitoring consists of recommending third-party money managers (“Portfolio Manager”) for you to select, whose investment disciplines most closely resemble your investment parameters. Portfolio monitoring includes: v An asset allocation plan illustrating the balancing of investment return and risk, emphasizing spreading risk among various asset classes and investment vehicles as a classic way to increase portfolio security; and, v Recommended Portfolio Managers to implement your asset allocation strategy. Under these arrangements, we are not involved in the day-to-day management of your portfolio assets. Our responsibility will be to continuously evaluate the performance of your portfolio to ensure the Portfolio Manager adheres to your investment parameters and to make recommendations regarding the Portfolio Manager as market factors and your personal goals dictate. More information about our “Portfolio Monitoring” services is available below under Item 5, “Fees & Compensation” below and how we evaluate Portfolio Managers is also discussed under Item 8, “Methods of Analysis, Investment Strategies & Risk of Loss.” Financial Planning Financial planning is one of the most important services that successful people use to create an extraordinary personal life and business career. However, it requires a lifetime commitment, not only from us, the Financial Planner, but from you as well. The financial planning process helps to identify and/or clarify purpose, values, needs, and priorities and align your financial decisions with your goals in all areas of your life. What is a Financial Plan? Financial planning is an evaluation of the investment and financial options available to you based upon your defined lifestyle choices. Planning includes: (i) attempting to make optimal decisions; (ii) projecting the consequences of these decisions for you in the form of a financial plan – a working blueprint; and, (iii) implementing the protocol to achieve the objectives of the plan. Once complete, the plan is then used to compare future performance against the working blueprint. Financial Planning Composition A financial plan can be comprehensive – a mutually defined review of your personal financial needs; or, targeted – a review, analysis and evaluation of a core area of financial need. In general, our financial planning encompasses one or more of the following areas of financial need as presented by you: v Identify and clarify personal and family core values, mission, vision, and goals. v Preparation of the financial plan/roadmap, which encompasses your: Ÿ Current financial situation. Ÿ Liquidity and asset preservation needs. Ÿ Wealth accumulation and growth. Ÿ Wealth distribution and transfer. More specifically the financial plan/roadmap may include, but is not limited to the following modules: Ÿ Financial Statements – Cash Flow and Balance Sheet. Ÿ Savings and Emergency Reserves. Ÿ Asset Allocation and Investment Portfolio Analysis. Ÿ Potential Income Tax consequences in collaboration with your tax advisor. Ÿ Risk Management and Insurance Analysis. Ÿ Retirement and Income Analysis. Ÿ Long-Term Healthcare. Ÿ Estate and Family Legacy Planning. Ÿ Business Succession Planning. v Outline of recommendations, strategies, solutions and resources. v Prioritizing and implementing the written action plan. v Investment consultations that allow us to create and implement a customized investment strategy tailored to your long-term investment goals. Ÿ Prepare a professional investment proposal that will include a written Investment Policy Statement. Ÿ Access to our open-architecture platform with a variety of investment management solutions. v Informative periodicals, market commentaries and research via e-mail and website. v Facilitate meetings with you and/or advisors or specialists within our professional network. v Coordinate and facilitate meetings with family members, business associates, partners or other key individuals to assist with implementing your action plan. Financial Planning Development We gather the necessary information to complete our analysis through personal interviews, review of various documents supplied by you, and completion of one or more profile questionnaires. Information gathered may include statements regarding your current financial status, a list of assets, insurance, wills and/or trust documents, income and expenses, Social Security eligibility, and other information7 based on your financial status and future goals. FEES & COMPENSATION IT EM 5 Portfolio Management Portfolio management is provided on an asset-based fee arrangement. Our management fee is calculated based on the aggregate market value of your account on the last business day of the previous calendar quarter multiplied by one-fourth of the corresponding annual percentage rate (i.e., 1.50% ÷ 4 = 0.375%). We retain discretion to negotiate the management fee under 1.50% on a client-to-client basis depending on the size, complexity, and nature of the portfolio managed. 7 All information provided by and to you will be kept entirely confidential. Such information will be disclosed to third parties only with mutual written consent or as may be permitted by law. Generally, fee breaks occur as assets in your portfolio increase past the following tiers: Account Value Annual Fee Rate Not to Exceed Equity and Balanced Portfolio Accounts Amounts up to $200,000 ..................................... 1.50% From $200,001 to $1,000,000 .............................. 1.25% From $1,000,001 to $5,000,000 ............................ 1.00% Over $5,000,000 .............................................. 0.75% Fixed Income Portfolio Accounts Regardless of Account Size .................................. Negotiable We generally require a minimum initial investment of $200,000 to open a managed account; however, we retain the right to waived or reduced this minimum if we feel circumstances are warranted. Protocols for Portfolio Management The following protocols establish how we handle our portfolio management accounts and what you should expect when it comes to: (i) managing your account; (ii) withdrawing funds from your account(s); (iii) your bill for investment services; (iv) other fees charged to your account(s); and, (iv) termination. Discretion We will establish discretionary trading authority on

all management accounts to execute securities transactions at anytime without your prior consent or advice. At anytime however, you may impose restrictions, in writing, on our discretionary authority (i.e., limit the types/amounts of particular securities purchased for your account, exclude the ability to purchase securities with an inverse relationship to the market, limit our use of leverage, etc.) Billing Your account will be billed quarterly in arrears based on the above fee arrangements. For new managed accounts opened in mid-quarter, our fee will be based upon a pro-rata calculation of the fair market value of your assets managed for the period. Advisory fees will be deducted first from any money market funds or cash balances. If such assets are insufficient to satisfy payment of such fees, a portion of the account assets will be liquidated to cover the fees. Such liquidation may affect the relative balances of the account. Withdrawals For assets you may withdrawal during the quarter, we do not make partial refunds of your quarterly portfolio management fee. Any withdrawal of assets from your portfolio may require modifications and adjustments to be made in the account to correct your allocation of assets. Fee Exclusions The above fees for all of our management services are exclusive of any charges imposed by the custodial firm including, but not limited to: (i) any Exchange/SEC fees; (ii) certain transfer taxes; (iii) service or account charges, including, postage/handling fees, electronic fund and wire transfer fees, auction fees, debit balances, margin interest, certain odd-lot differentials and mutual fund short-term redemption fees; and (iv) brokerage and execution costs associated with securities held in your managed account. There can also be other fees charged to your account that are unaffiliated with our management services. In addition, all fees paid to us for portfolio management services are separate from any fees and expenses charged on mutual fund shares by the investment company or by the investment advisor managing the mutual fund portfolios. These expenses generally include management fees and various fund expense, such as: redemption fees, account fees, and purchase fees may occur but are the exception within managed accounts at institutional custodians. A complete explanation of these expenses charged by the mutual funds is contained in each mutual fund’s prospectus. You are encouraged to carefully read the fund prospectus. Termination of Investment Services To terminate our investment advisory services, either party (you or us) by written notification to the other party, may terminate the Investment Advisory Agreement at any time, provided such written notification is received at least 30 days prior to the date of termination (i.e.; To terminate services on October 1st, a request for termination should be received in our office by September 1st.). Such notification should include the date the termination will go into affect along with any final instructions on the account (i.e., liquidate the account, finalize all transactions and/or cease all investment activity). In the event termination does not fall on the last/first day of a calendar quarter, we shall be entitled to bill your account a pro-rated quarterly management fee based upon the number of days in the quarter that your account was managed before the termination notice goes into effect. Once the termination of investment advisory services has been implemented, neither party has any obligation to the other – we no longer earn management fees or give investment advice and you become responsible for making your own investment decisions. Portfolio Monitoring Under the arrangements with the Portfolio Managers, we are not involved in the day to day management of your portfolio assets. Our responsibility to the Portfolio Manager(s) will be to ensure you meet their minimum qualifications. Once your account has been established we will provide all administrative and clerical duties as may be required to service your account. The Portfolio Manager(s) may have little or no direct contact with you. Our responsibility to you will be to continuously evaluate the performance of your portfolio to ensure the Portfolio Manager adheres to your asset allocation guidelines and will make recommendations to you regarding the Portfolio Manager as market factors and your personal goals dictate. Portfolio Monitoring Fee Portfolio Monitoring is provided on an asset-based fee arrangement. The monitoring fee is generally calculated based on the aggregate market value of your account on the last day of the previous calendar quarter multiplied by one-fourth of the corresponding annual percentage rate (i.e., 1.00% ÷ 4 = 0.25%). We retain discretion to negotiate the monitoring fee on a client-to-client basis depending on the size and complexity of your portfolio monitored account. Additionally, fee breaks will occur as assets in your portfolio monitored account increase past the following tiers: Account Value Annual Fee Rate Not to Exceed Amounts up to $200,000 .................................... 1.00% From $200,001 to $1,000,000 .............................. 0.90% From $1,000,001 to $5,000,000 ........................... 0.80% Over $5,000,000 ............................................. 0.70% Note: This is a generalized fee schedule that may be modified depending on the Portfolio Manager selected for your portfolio. Some of our Portfolio Managers may use a different fee calculation process (e.g.: An “average daily balance” instead of an “aggregate market value.”). In addition, account minimums will vary from Portfolio Manager to Portfolio Manager. We will discuss all fees and billing arrangements with you prior to opening any account with a Portfolio Manager. We want you to clearly understand the management arrangements for your account. Portfolio Managers Fee Structure The Portfolio Managers who will be used to manage your account(s) will disclose their fees for management services in their Disclosure Brochures (the Portfolio Manager’s ADV Part 2A: Firm Brochure or Part 2A Appendix 1: Wrap Fee Program Brochure), which we will provide you prior to, or at the same time as, opening an account. The fees that will be charged to your account(s) will include: 1. The Portfolio Manager’s management fee; 2. Our Portfolio Monitoring Fee (see fee schedule above) that we will bill separately or the Portfolio Manager will pay us from the total management fee they collect; and, 3. Trading commissions and/or account charges, depending on if the Portfolio Manager is “wrapping” all the fees, which may be imposed by the custodian or broker/dealer used to custody your account(s). The Portfolio Manager’s Disclosure Brochure contains all pertinent disclosures relating to their management services, fee structure for such services, and their termination provisions – you are encouraged to carefully review these disclosures. Portfolio Monitoring Protocols You will want to consult the Portfolio Manager’s Disclosure Brochure for their policies on how they will handle your account; such as, billing, deposits and withdrawals, fee exclusions, termination, and any other unique advisory costs associated with their service since we do not take discretion over the management of your account. We will discuss these arrangements with you when we go to open your account with a Portfolio Manager; however, you are encouraged to read their terms for management on your own – don’t take our word for it! Financial Planning How we charge to develop a financial plan depends on the size, complexity, and nature of your personal and financial situation and the amount of time it will take to analyze and summarize the plan and perform the services you desire. Planning Fees Comprehensive Planning Comprehensive financial planning services are offered on an hourly rate not to exceed $300 with a maximum fixed fee not to exceed $10,000 for the initial engagement. Comprehensive planning fees are significantly reduced if we are providing you additional services, such as Portfolio Management or Portfolio Monitoring services. The comprehensive planning fee will be fully disclosed up-front in a Financial Planning Agreement, which will include the cost8 to review your financial information and prepare the comprehensive financial plan. We have the option to: 1. Require one-half the fee be paid at the time the Agreement is signed, with the remaining balance due upon completion of the financial plan9; or, 2. Require one-half the fee be paid at the time the Agreement is signed, with the remaining balance billed monthly on a progress basis as the work is completed. Targeted If you desire only targeted planning – review, analysis and evaluation of a core area of financial need – the fee will be billed at our hourly rate not to exceed $30010. All fees will be completely itemized in a billing statement to you, or as otherwise predetermined in a proposal, engagement letter and/or by retainer. Annual Review It is important to note that any planning is kinetic (always in motion) and alive. A financial plan is a roadmap that is only as good as how well it reflects your current economic position to then guide you on a clear path to a future financial destination. However you can veer off course, intentionally or unintentionally, as circumstances in your life take you down another path. An annual financial plan review is designed to systematically address these unexpected diversions and continually keep you on the right road headed to your future financial destination. Annual Review Once the initial financial planning services have been completed, we will establish future “Annual Review” dates. The Annual Review dates generally begin after the first anniversary will be to review and make adjustments, if necessary, to the financial plan. Together we will set the calendar dates for your future reviews; inasmuch, an Annual Review may consist of two or three visits during the calendar year. 8 Rarely will a fee exceed those costs outlined in the Agreement. However, there can be instances where we did not contract with you to perform a particular task and therefore merit notifying you of the additional cost prior to beginning such services. 9 The recommendations made in a financial plan are generally completed within 30 to 45 days from you signing the Agreement. However, implementing the plan using outside professionals (i.e., attorneys, CPAs, etc...) may require additional time that is out of our control. Therefore when we refer to the completion of the financial plan, we are referring to us (you and the Company) finalizing your financial benchmarks/objectives before approaching any outside professional. 10 For a Targeted Financial Plan, we require a minimum of four hours consultation to address any personal and financial needs you may have. Annual Review Fee We reserve the option to waive our annual review fee if we are currently managing your investments. If we are not managing your investment portfolio and you want us to review your financial plan, we will notify you of the cost to perform the desired work before commencing. Such retainer fee will generally range from 25% to 40% of the first year planning fee depending on the length of time since our last review and on the services you request (i.e., If the first year planning fee was $3,000, the annual review fee would be from $750 to $1,200.). However, if you have experienced significant change in your life circumstances since the date of your previously prepared plan, the fee could be exceedingly higher. Termination Comprehensive or targeted Planning Termination You can terminate the Financial Planning Agreement at any time prior to the presentation of any final planning documents. We will be compensated through the date of termination for time spent in design of such financial documents at the hourly rate agreed to in the Agreement. If you have prepaid any fees, such un-earned fees will be returned on a pro- rata basis. After the financial plan has been completed and presented to you, termination of the Agreement is no longer an option. Annual Review Termination Annual Review services can be terminated at any time. The Company will bill you for any services rendered from the date of the last bill up to the date of termination at the fee rate that was agreed to in the proposal, engagement letter and/or retainer agreement. PERFORMANCE-BASED FEES & SIDE-BY-SIDE MANAGEMENT IT EM 6 We do not charge fees based on a share of capital gains or the capital appreciation of the assets held in your accounts.