American Investors Company (“AIC”) is a general securities broker-dealer, registered with the Securities and Exchange Commission (“SEC”) and a member of the Financial Industry Regulatory Authority (“FINRA”), as well as a Registered Investment Adviser with the SEC. AIC was established in 1966 as a broker-dealer and became registered as an investment adviser in 1994. AIC provides investment advisory and financial planning services to individuals, pension and profit sharing plans, trusts, estates, charitable organizations and corporations (herein referred to as “Client” or “Clients”). Registered Representatives (“Reps”) of AIC sell securities products for commission-based compensation. Certain Reps are also designated by AIC to act as Advisory Affiliates (“Affiliates”) for investment advisory service arrangements. These Affiliates may also sell general securities for commissions. AIC, through its Affiliates, may provide investment supervisory services or asset management of investment advisory accounts. These services may also be called by other names such as money management or investment management. Such services may include the continuous monitoring of client investment accounts on either a discretionary or a non-discretionary basis. AIC may also provide asset management services that are limited to periodic reviews and do not involve continuous management and monitoring. The frequency of these reviews is dependent upon changes in the market, changes in the client’s financial situation, or other events. Affiliates may also refer clients to other Registered Investment Advisers (also referred to as third party money managers). Other Reps may be independently registered as investment advisors to provide similar services that may be offered by AIC. Clients will be advised by the Rep if the Rep is independently registered, and will receive the Form ADV disclosure from the Rep if so independently registered, in addition to the Form ADV disclosure of AIC. For managed or supervised accounts of reps who are independent registered investment advisors, AIC will act as payee agent. Affiliates under this registration offer their own blend of services and have their own investment philosophies. Principal Owners For the purpose of this section, AIC lists its principal owners as any person directly owning 25% or more of AIC as disclosed on Schedule A of Part 1A as of date of the last update filing. AIC’s principal owners are as follows:
• Larry C. Lee is a direct owner of AIC maintaining between 50-75% ownership.
• Clarence Yee is a direct owner of AIC maintaining between 25-50% ownership Name: Larry Chaiya Lee Date of Birth: 09/06/1934 Education: Taiwan Provincial College of Agriculture, Taiwan; BS/Pathology (1956) UCLA, Los Angeles, CA; College Studies Background: American Investors Company, San Ramon, CA, Chairman/Owner (07/66- Present) Name: Clarence Yee Date of Birth: 09/24/1934 Education: UC Berkeley, CA; College Studies; Background: American Investors Company, San Ramon, CA, President/Owner (8/72 – present AIC Form ADV Part 2A Page 6 of 20 AIC is not a publicly held company and no part of AIC is owned by an individual or company through any subsidiaries or “intermediate subsidiaries.” Types of Advisory Services Offered Asset Supervisory/Management Services AIC may provide investment supervisory services or asset management of investment advisory accounts as covered in the Investment Advisory Agreement where each Client may receive specific investment related consultative services. AIC may assist Client in determining, among other things, suitability, investment objectives, goals, time horizons, and risk tolerances. These services may also be called by other names such as money management or investment management. Such services may include the continuous monitoring of client investment accounts on either a discretionary or a non-discretionary basis. AIC may also provide asset management services that are limited to periodic reviews and do not involve continuous management and monitoring. The frequency of these reviews is dependent upon changes in the market, changes in the client’s financial situation, or other events. Hourly Consultation Services In addition to offering investment management and financial planning services, AIC may also offer general consulting services on an hourly basis. For consultation services as provided by AIC, Client may agree to pay AIC an hourly fee up to $350 per hour. This hourly consultation service may take the form of general consulting and/or general investment advice for individuals and/or institutions. It may also take the form of investment advice for individuals or institutions that do not require investment management services. Additionally, it may also take the form of corresponding and/or coordinating with attorneys, CPAs and/or other professionals, as well as document production and other administrative services. Financial Planning Services AIC may also offer Clients financial planning services to include comprehensive or segmented (limited) financial plans, investment plans, and/or individual consultations regarding a Client's financial affairs. The design and implementation of a financial plan may begin with the process of gathering data regarding income, expenses, taxes, insurance coverage, retirement plans, wills, trusts, investments and/or other relevant information pertaining to a Client's overall financial situation. This information is carefully analyzed taking into account a Client's goals and stated objectives and a series of recommendations and/or alternative strategies will be developed and designed to achieve optimum overall results. Fees for such services will be on a flat fee (per plan) or an hourly rate (see above). 401(k) Advisory Services AIC may provide advisory services to 401(k) plans and other similar retirement plans which, in some instances, may be limited to the selection and continuous monitoring of the investments available in the plan and may include participant enrollment, education and ongoing

support. In other instances, the services provided may be broader in scope extending to asset supervisory and management services, and performance reporting as described in the “Asset Supervisory/Management Services” section above. Services do not include record keeping, but may include interfacing with the plan’s record keeping service provider. The scope of services provided to these various retirement plans and the fees related thereto will be set forth in the Investment Advisory Agreement. AIC Form ADV Part 2A Page 7 of 20 Seminars On occasion AIC, through its Affiliates, may hold seminars. These seminars may include presentations on various securities and insurance products, or on financial planning strategies. A fee may be charged to attend. The fee will not exceed $200 per attendee. Termination of Account Either party has the right to terminate the Agreement at any time. If a client terminates the Agreement within five business days of signing the Agreement, the client is entitled to a waiver of any pro-rated fees that would otherwise be due to AIC. After five days, AIC may bill for pro-rata fees due or, if applicable, actual time and charges. For investment/financial planning, no refund will be available once a completed financial plan is delivered to a client. There is no penalty or termination fee for canceling the Agreement. AIC’s authority under the Agreement will remain in effect until Client changes or cancels. Cancellation of the Agreement will not affect (a) the validity of any action previously taken by AIC under the Agreement, (b) liabilities or obligations of the client or AIC from transactions initiated before termination of the Agreement, or (c) the client’s obligation to pay advisory fees (prorated through the date of cancellation). Upon cancellation of the Agreement, AIC will have no obligation to recommend or take any action with regard to the securities, cash or other investments in a client’s account. Fees due at termination may be waived at the discretion of AIC and/or the Affiliate. Arbitration Agreement Any controversy or claim, including, but not limited to, errors and omissions arising out of or relating to our Agreement or the breach thereof, shall be settled by arbitration in accordance with the securities arbitration rules then in affect with the Financial Industry Regulatory Authority, and judgment upon the award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. Client understands that this agreement to arbitrate does not constitute a waiver of the right to seek a judicial forum where such a waiver would be void under the federal securities laws. Arbitration is final and binding on the parties. AIC may tailor its advisory services to the specific needs and objectives of each advisory client. Clients may also impose restrictions on investing in certain securities or types of securities. AIC does not participate in a wrap fee program at this time. Retirement Rollovers ERISA Fiduciary Acknowledgement When AIC provides investment advice regarding a retirement plan account or individual retirement account, it is acting as a fiduciary within the meaning of Title I of the Employee Retirement Income Security Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts. The way AIC makes money creates some conflicts with your interests; therefore, it operates under a special rule PTE 2020-02 (Fiduciary Rule) that requires us to act in your best interest and not put our interest ahead of yours. Retirement Monies – Options A client leaving an employer typically has four options (and may engage in a combination of these options): i) leave the money in his former employer’s plan, if permitted, ii) roll over the assets to his new employer’s plan, if one is available and rollovers are permitted, iii) rollover to an IRA, or iv) cash out the account value (which could, depending upon the client’s age, result in adverse tax consequences). AIC may recommend an investor roll over plan assets to an Individual AIC Form ADV Part 2A Page 8 of 20 Retirement Account (IRA) managed by our firm. As a result, AIC will earn an asset-based fee. In contrast, a recommendation that a client or prospective client leave his or her plan assets with his or her old employer or roll the assets to a plan sponsored by a new employer will generally result in no compensation to AIC (unless you engage our firm to monitor and/or manage the account while maintained at your employer). AIC has an economic incentive to encourage an investor to roll plan assets into an IRA that we will manage or to engage our firm to monitor and/or manage the account while maintained at your employer. There are various factors that are considered before recommending a rollover, including but not limited to: i) the investment options available in the plan versus the investment options available in an IRA, ii) fees and expenses in the plan versus the fees and expenses in an IRA, iii) the services and responsiveness of the plan’s investment professionals versus ours, iv) protection of assets from creditors and legal judgments, v) required minimum distributions and age considerations vi) employer stock tax consequences, if any and vii) the ability to withdraw money in an employer's plan versus an IRA. When AIC makes recommendations, it is bound by Impartial Conduct Standards under ERISA. This means we will act in each client’s best interest, will only charge reasonable fees, and will be transparent and disclose conflicts of interest. No client is under any obligation to rollover plan assets to an IRA managed by our firm or to engage our firm to monitor and/or manage the account while maintained at your employer. Assets Under Management As of March 31, 2023, the amount of client assets under management is calculated as follows: Discretionary: $475,200,000 Non-discretionary: $35,800,000 The amount as disclosed above is rounded to the nearest $100,000. The date of the calculation above is not more than ninety (90) days before the date AIC last updated its brochure.