Dean Financial Services, LLC, an Ohio limited liability company, is an investment advisory firm registered with the Securities and Exchange Commission. C.H. Dean, LLC began conducting business in 1965 as a financial services firm, and in 1975 the family-owned business was incorporated. In 2003, Dean Financial Services, LLC, formerly operating as a division of C.H. Dean, LLC, was organized into a wholly owned subsidiary of C.H. Dean, LLC. C.H. Dean, LLC is the sole LLC member of Dean Financial Services, LLC. The Dennis D. Dean Trust and the Terence M. Dean Trust each own 25% or more of The C.H. Dean Companies, LLC, the holding company of C.H. Dean, LLC. Dean Financial Services ("DFS") offers the following advisory services to our clients: INDIVIDUAL PORTFOLIO MANAGEMENT The Investment Consulting Group of DFS provides comprehensive investment consulting services by providing an institutional style portfolio management for its clients. These services include due diligence in the research of money managers and mutual funds, asset allocation study, preparation of an investment policy statement/guidelines, rebalancing analysis of the client's portfolio, performance monitoring, and consultation on asset allocation and mutual fund selection. Our firm provides advice to a client regarding the investment of client funds based on the individual needs of the client. Through personal discussions in which goals and objectives based on a client's particular circumstances are established, we develop a client's investment policy statement/guidelines and create and manage a portfolio based on that policy. During our data-gathering process, we assess the client's individual objectives, time horizons, risk tolerance, and liquidity needs. We generally manage these advisory accounts on a discretionary basis, although the client is usually given the opportunity to review the proposed investment plan comprised of either mutual funds and/or money managers. Account supervision is guided by the client's stated objectives (i.e., maximum capital appreciation, growth, income, or growth and income), as well as tax considerations. We monitor the performance of the selected mutual funds and/or registered investment adviser(s) and periodically review with the client. Based on this analysis and review, rebalancing or replacement of a mutual fund or registered investment advisor may be deemed necessary. If we determine that a particular selected registered investment adviser(s) might not be providing sufficient management services to the client, we may suggest that the client contract with a different registered investment adviser and/or program sponsor. Clients may impose reasonable restrictions on investing in certain securities, types of securities, or industry sectors. Our affiliate, Dean Investments, provides portfolio management services to the Dean Small Cap Value Fund, the Dean Mid Cap Value Fund, and the Dean Equity Income Fund (the "Dean Funds"), mutual funds registered under the Investment Company Act of 1940. Dean Investments serves as the investment manager for the Dean Funds, and Dean Capital Management ("DCM"), also an affiliate, serves as sub-adviser. The Dean Funds, as well as unaffiliated mutual funds, may be recommended as part of the mutual fund selection for a client's asset allocation. Investors should refer to the Dean Fund's or other mutual fund’s prospectus and Statement of Additional Information ("SAI") for important information regarding objectives, investments, time-horizon, risks, fees, and additional disclosures. Prior to making any investment in a mutual fund, investors and prospective investors should carefully review these documents for a comprehensive understanding of the terms and conditions applicable to this investment. Dean Investments also provides individualized portfolio management services and may be recommended as part of any third-party money manager selection for a client's asset allocation, if appropriate for the client. When third party money managers are used, clients should refer to the selected registered investment adviser's Firm Brochure or other disclosure document for a full description of their services offered. Clients of Dean Financial Services may be in a wrap fee program. Dean Financial Services utilizes the same investment strategy as its other portfolio management services described in this brochure. Dean Financial Services

is not a sponsor of the wrap fee programs, but third-party money managers that DFS uses may participate as an investment manager in a wrap program and receive a portion of the wrap fee for their portfolio management services. FINANCIAL PLANNING DFS may also provide financial planning services. Financial planning is an evaluation of a client's current and future financial state by using currently known variables to predict future cash flows, asset values and withdrawal plans. Through the financial planning process, all questions, information, and analysis are considered as they impact and are impacted by the entire financial and life situation of the client. In general, the financial plan primarily addresses any or all of the following areas:
• PERSONAL: We review family records, budgeting, personal liability, estate information and financial goals.
• TAX & CASH FLOW: We analyze the client's income tax and spending and planning for past, current and future years; then illustrate the impact of various investments on the client's current income tax and future tax liability.
• INVESTMENTS: We analyze investment alternatives and their effect on the client's portfolio. We gather required information through personal interviews. Information gathered includes the client's current financial status, tax status, future goals, return objectives and attitudes towards risk. We carefully review documents supplied by the client and prepare a written report. Should the client choose to implement the recommendations contained in the plan, we suggest the client work closely with his/her attorney, accountant, insurance agent, and/or stockbroker. Implementation of financial plan recommendations is entirely at the client's discretion. RETIREMENT PLAN CONSULTING SERVICES We also provide several plan level advisory services separately or in combination. While these services are primarily structured for pension, profit sharing and 401(k) plans, we also offer similar services, where appropriate, to individuals and trusts, estates, and charitable organizations. Retirement Plan Consulting Services are comprised of four distinct services. Clients may choose to use any or all of these services. Investment Policy Statement Preparation (hereinafter referred to as ''IPS''): We will meet with the client (in person or over the telephone) to develop what we feel is an appropriate investment strategy that reflects the plan sponsor's stated investment objectives for management of the overall plan. Our firm then prepares a written IPS detailing those needs and goals, including a plan under which these goals are to be achieved. The IPS also lists the criteria for selection of investment vehicles as well as the procedures and timing interval for monitoring of investment performance. Selection of Investment Vehicles: We assist plan sponsors in constructing appropriate asset allocation models. We will then review various mutual funds (both index and managed) to assess which investments are appropriate relative to the client's IPS. The number of investments to be recommended will ultimately be determined by the client, based on the IPS. Monitoring of Investment Performance: We monitor client investments based on the procedures and timing intervals delineated in the IPS. We will also provide oversights related to the client's portfolio and will make recommendations to the client as we feel are appropriate relative to market factors and client's needs. Employee Communications: For pension, profit sharing and 401(k) plan clients with individual plan participants exercising control over assets in their own account (''self-directed plans''), we may also provide annual educational support and investment workshops designed for the plan participants. The nature of the topics to be covered will be determined by us and the client under the guidelines established in ERISA Section 404(c). The educational support and investment workshops will not provide plan participants with individualized, tailored investment advice or individualized, tailored asset allocation recommendations. However, we do offer to meet with participants on an individual basis. AMOUNT OF MANAGED ASSETS As of December 31, 2023, we were actively managing $266.8 million of clients' assets on a discretionary basis. Dean Financial Services does not currently manage assets on a non-discretionary basis.