A. David Wendell Associates, Inc. is an independent investment advisory firm providing fee-only services to individuals and families, trusts, retirement accounts, charitable organizations, businesses and banks. We also provide investment advisory consulting services to a bank trust department, a private trustee firm, two law firms and an investment advisory firm. We were established in 1979 and our principal place of business is in Portsmouth, New Hampshire. We are 100% owned by our employees: DATE TITLE CONTROL NAME TITLE ACQUIRED OWNERSHIP PERSON Karen Wendell Chief Executive Officer 2017 97% yes Treasurer 1998 President 2023 Chief Compliance Officer 2004 William H.L. Mitchell Chairman 2017 <5% yes Neil G. Bleicken Senior Vice President 2023 <5% yes Reid V. Smith Senior Vice President 2023 <5% yes Anne F. Farris Sr Vice President/Operations 2023 <5% yes Secretary 2018 Lorrie L. Maker Operations Assistant 2015 <5% no Laura A. Zabkar Administrative Assistant 2016 <5% no B. We provide continuous and regular investment supervisory or management services and/or investment advisory services to three types of clients. Continuous and regular investment supervisory or management services means that we manage our clients’ portfolios and give continuous investment advice based on the individual needs of each client. This part of our business is geared towards individuals and families, trusts, retirement accounts, charitable organizations, businesses and banks and constitutes 83.1% of our firm’s 2023 revenue. Our fee schedule for these services is described below in Item 5. We also provide investment advisory consulting services to a bank trust department, a law firm, and an investment advisory firm. These services are 15.1% of our firm’s 2023 revenue and are described below: Bath Savings Trust Company (“BSTC”), Bath, Maine We review the client portfolios of BSTC and provide investment recommendations to BSTC’s Trust Officers ten times per year. These portfolios may be agency accounts, IRAs, 401Ks, trust and/or charitable accounts. Additionally, there are on-going telephone consultations during the month and occasional private meetings with BSTC’s clients. Our fee for these services is negotiated annually and is based on the assets under management. Ransmeier & Spellman (“R&S”) (law firm), Concord, New Hampshire We review the client portfolios of R&S and provide investment recommendations to R&S Trustees four times per year. Additionally, there are on-going telephone consultations during the month and occasional private meetings with R&S’s clients. Our fee for these services is based on the assets under management. Nashua Capital Management (“NCM”), Nashua, New Hampshire We review client portfolios of NCM and provide investment recommendations twelve times a year. Our fee for this service is based on the assets under management and a negotiated rate. Lastly, we also provide investment advice through monthly meetings. These

services represented 1.8% of our firm’s 2023 revenue: Loring, Wolcott & Coolidge Fiduciary Advisors (“LW&C”), Boston, MA We meet with LW&C eight times per year to discuss the overall investment background, current economic and market trends, our current investment thinking, and our current stock selection recommendations. Our fee for these services is based on a negotiated rate. Our work focuses primarily on equities and bonds. Item 8 below describes our method of analysis, investment strategy and the risks associated with our method and strategy. Even though we focus primarily on equities and bonds, clients frequently ask for our opinion and guidance on other types of investments. Thus, the types of securities for which we provide investment advice include:  Equity securities (common and preferred), including those -- traded on national exchanges, -- traded over-the-counter and -- of foreign issuers,  American Depository Receipts (“ADRs”),  U.S. government notes, bonds, and bills.  Corporate bonds,  Municipal bonds,  U.S. government-sponsored entities, including -- Federal Home Loan securities and -- Federal National Mortgage Association securities,  Treasury Inflation-Protected securities,  Mutual funds (load and no-load),  Exchange-Traded Funds (“ETFs”) and Index Funds,  Step-up Notes,  Exchange-Traded Notes (“ETNs”),  Certificates of Deposit (“CDs”),  Warrants,  Commercial paper,  Commodities (primarily gold) and  Insurance products such as annuities and long-term care insurance. The risks associated with investing in these types of securities are described in Item 8 below. C. Our services are tailored to the individual and specific needs of our clients. For new clients who are individuals and families, trusts, retirement accounts, charitable organizations, businesses and banks, we first meet with the client (either by phone or in person) to review any existing holdings and to discuss the appropriate portfolio structure based on the client’s investment goals, needs and desires. After analyzing the existing holdings, we recommend a suitable long-range plan and make initial recommendations. For existing clients in this category, we review client accounts at least once per calendar quarter, as described in Item 13 below, and may or may not make investment recommendations, based on our current stock selections and/or the current market environment and investing background. For our clients who are bank trust departments and law firms, our investment recommendations are tailored to the guidelines as provided by the client. All of our clients may impose restrictions on investing in certain securities or types of securities. D. We do not participate in any wrap fee program. E. As of December 31, 2023, our assets under management were: U.S. Dollar Amount Total Number of Accounts Discretionary $ 1,061,490,000 426 Non-Discretionary $ 209,467,000 61 Total $ 1,270,957,000 487