Capital Advisory Group, Inc. (“CAG”) a Dallas, Texas based wealth management firm has been providing financial planning and investment advisory services to its Clients for over twenty five years since its formation in 1990. It was founded by James S. Hopson, Jr. MBA, CPA, CFP® a resident of Dallas, Texas for over 40 years who currently holds the positions of President, Chief Executive Officer and Chief Compliance Officer. Mr. Hopson has been in the financial services industry since 1978 when he began his career with Price Waterhouse & Co. (now Price Waterhouse Coopers an international accounting firm) in the Dallas office after graduating from the University of North Texas with his Masters of Business Administration in Accounting and Taxation. Mr. Hopson also holds a Bachelors of Business Administration with a major in accounting from Abilene Christian University. After working in the tax department at Price Waterhouse & Co. he subsequently worked at two other companies in investment related businesses as a financial manager, controller and chief financial officer before founding his own public accounting firm in 1987. Capital Advisory Group, Inc. offers advisory services designed to address the major areas of personal financial planning and investment management including, but not limited to, the management of retirement accounts, jointly owned and individual investment accounts as well as company retirement and 401(k) plans. We offer personal financial planning, estate planning, retirement planning, tax planning, cash flow strategies, and insurance planning on a comprehensive basis or for a specific area of financial planning. The purchase of these various planning services are not required in order to become a Client but are offered on an as needed and/or as requested basis. CAG’s assets under management as of February 23, 2024 were $191,571,302. These Client assets are managed on a discretionary basis for approximately 80 families, individuals, and trusts. CAG’s services are based on the individual needs of each Client. CAG offers an initial meeting and data gathering session at no charge between the prospective Client and their designated Investment Advisor Representative “Investment Advisor” in order to more completely understand the Client's current financial situation and investment objectives. The initial meeting gives the prospective Client the opportunity to get to know CAG, its management, its financial planning and investment philosophies as well as to discuss guidance, concerns and limitations regarding the management of their investment accounts, planning needs and any other financial or personal matters the Client believes we need to be made aware of. Once a prospective Client agrees to become a Client of the firm we jointly determine and agree in writing, by signing an Investment Management Agreement, to the duties and responsibilities of CAG and the Client. We also jointly agree to the Client’s investment objectives and their financial planning needs by signing an Investment Policy Statement with the Investment Objectives of each of the Clients accounts outlined in the attached addendum. Clients have the ability during this process to discuss their investment concerns and establish standing investment instructions and restrictions on their account with CAG and their Investment Advisor Representative. For example; A Client may establish in its Investment Policy Statement a requirement to refrain from investing in particular securities or types of securities or to limit investments in certain securities. Each quarter CAG will remind the Client in writing via its newsletter to contact their Investment Advisor and notify in writing us if there have been any changes in their financial situation or investment objectives, or to request a meeting or impose some new or modify existing account restrictions. Usually the Investment Advisor Representative will contact and/or email the Client several times during the year in order to discuss or update the Client’s current situation and update the Clients investment objectives if necessary or desired. CAG will respond to each Client more often if the Client requests advice on any other important financial issues. Client Obligations: In performing our services, CAG shall not be required to verify any information received from the client or from the client’s other professionals, and is expressly authorized to rely thereon. Moreover, each client is advised that it remains his/her/its responsibility to promptly notify us if there is ever any change in his/her/its financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services. After such notice we can then make adjustments or recommendations. The Client can also impose new restrictions that will be confirmed by us in writing or shown as an update to their Investment Policy Statement or Statement of Investment Objectives. Clients may call in at any time to discuss directly with their Investment Advisor Representative information about their account, their personal financial situation, concerns or investment needs but all changes need to be confirmed in writing. Clients will receive each month a consolidated activity and performance report and each quarter a more detailed consolidated performance report and portfolio analysis from CAG. Clients will also receive from their specific custodian or brokerage firm timely trade confirmations as required and monthly or quarterly statements containing a description of all account transactions and all account activity, including the fees charged by CAG. After the initial transfer of assets, cash or securities to a custodian recommended by CAG, the Client retains all rights of ownership of all securities and funds in the account to the same extent as if the Client held the securities and funds outside the supervision of CAG and their Investment Advisor representative. In other words there is no change of ownership of the assets transferred to the new custodian. As mentioned earlier, in addition to statements from the custodian, CAG sends monthly and quarterly performance reports to the Client in order to keep the Client clearly informed of the changes in the values and performance of their accounts. When requested, CAG offers to provide its Clients financial planning and related consulting services generally at an additional cost described in the following section of this Brochure. The planning is designed to focus on each individual Client's financial situation, needs and concerns. Planning may be done on a comprehensive basis where we focus on all areas of the Clients situation or it may be focused specifically on investments, insurance, taxes, estate or other planning needs. Written financial plans are only prepared under the terms of a CAG’s written Financial Planning Agreement that specifies the objectives of the plan, how the plan will be delivered and the costs associated with preparing the plan. CAG may also provide clients access to an online financial planning and asset aggregation software to help assist the Client with a better understanding of their financial situation. CAG and its Investment Advisor Representatives are concerned about each Client’s financial situation. Therefore, discussions between the Investment Advisor and the Client regarding important areas of financial planning

can be incorporated into most formal Client meetings. During these discussions we try to help our Clients remain aware of certain financial risks (such as the possible need for life insurance, long term care or disability insurance) and the steps required to manage them such as applying for and obtaining certain types of insurance coverage. These steps even though they may be discussed or recommended are not the responsibility of CAG to implement, manage, monitor or correct unless requested and agreed to in writing by both parties. MISCELLANEOUS DISCLOSURES Custodian Charges-Additional Fees. As discussed at Brokerage Practices below, CAG generally recommends that Schwab serve as the broker-dealer/custodian for client investment management assets. Broker-dealers such as Schwab charge brokerage commissions, transaction, and/or other type fees for effecting certain types of securities transactions (i.e., including transaction fees for certain mutual funds, and mark-ups and mark-downs charged for fixed income transactions, etc.). The types of securities for which transaction fees, commissions, and/or other type fees (as well as the amount of those fees) shall differ depending upon the broker- dealer/custodian (while certain custodians, including Schwab does not currently charge fees on individual equity transactions, others do). CAG does not receive any portion of these fees/charges. Any Questions: CAG’s Chief Compliance Officer, James S. Hopson Jr., remains available to address any questions that a client or prospective client may have regarding the above. Portfolio Activity. CAG has a fiduciary duty to provide services consistent with the client’s best interest. CAG will review client portfolios on an ongoing basis to determine if any changes are necessary based upon various factors, including, but not limited to, investment performance, market conditions, fund manager tenure, style drift, account additions/withdrawals, and/or a change in the client’s investment objective. Based upon these factors, there may be extended periods of time when CAG determines that changes to a client’s portfolio are neither necessary, nor prudent. Clients remain subject to the fees described in Fees and Compensation below during periods of account inactivity. Independent Managers. The CAG may allocate a portion of the client’s investment assets among unaffiliated independent investment managers in accordance with the client’s designated investment objective(s). In such situations, the Independent Manager[s] shall have day-to- day responsibility for the active discretionary management of the allocated assets. CAG shall continue to render investment supervisory services to the client relative to the ongoing monitoring and review of account performance, asset allocation and client investment objectives. Factors that CAG shall consider in recommending Independent Manager[s] include the client’s designated investment objective(s), management style, performance, reputation, financial strength, reporting, pricing, and research. Please Note. The investment management fee charged by the Independent Manager[s] is separate from, and in addition to, CAG’s investment advisory fee disclosed at Item 5 below. Any Questions: CAG’s Chief Compliance Officer, James S. Hopson Jr., remains available to address any questions that a client or prospective client may have regarding the allocation of account assets to an Independent Manager(s), including the specific additional fee to be charged by such Independent Manager(s). Unaffiliated Private Investment Fund. CAG may also recommend, on a non-discretionary basis, that qualifying clients consider purchase of DWS RREEF Property Trust (the “Fund”), an unaffiliated non-publicly traded REIT that provides daily net asset value. The terms and conditions of a fund investment (i.e., objective, risks, liquidity constraints, etc.) are set forth in the Fund’s offering documents, a copy of which is presented to each client investor prior to determining whether to become a fund investor. Prior to becoming a Fund investor, each prospective client investor must complete a Subscription Agreement for submission to the Fund to demonstrate his/her qualification to become a Fund investor. If a client determines to become a Fund investor, the amount of assets invested in the Fund shall be included as part of “assets under management” for purposes of CAG calculating its investment advisory fee. CAG’s fee shall be in addition to the Fund’s fees. CAG’s clients are under absolutely no obligation to consider or make an investment in any private investment fund(s). Please Note: Private investment funds generally involve various risk factors, including, but not limited to, potential for complete loss of principal, liquidity constraints and lack of transparency, a complete discussion of which is set forth in each fund’s offering documents, which will be provided to each client for review and consideration. Unlike liquid investments that a client may own, private investment funds do not provide daily liquidity or pricing. Each prospective client investor will be required to complete a Subscription Agreement, pursuant to which the client shall establish that he/she is qualified for investment in the fund, and acknowledges and accepts the various risk factors that are associated with such an investment. Please Note-Use of Mutual and Exchange Traded Funds: CAG utilizes mutual funds and exchange traded funds for its client portfolios. In addition to CAG’s investment advisory fee described below, and transaction and/or custodial fees discussed below, clients will also incur, relative to all mutual fund and exchange traded fund purchases, charges imposed at the fund level (e.g. management fees and other fund expenses). Please Note: Cash Positions. CAG continues to treat cash as an asset class. As such, unless determined to the contrary by CAG, all cash positions (money markets, etc.) shall continue to be included as part of assets under management for purposes of calculating CAG’s advisory fee. At any specific point in time, depending upon perceived or anticipated market conditions/events (there being no guarantee that such anticipated market conditions/events will occur), CAG may maintain cash positions for defensive purposes. In addition, while assets are maintained in cash, such amounts could miss market advances. Depending upon current yields, at any point in time, CAG’s advisory fee could exceed the interest paid by the client’s money market fund. Any Questions: CAG’s Chief Compliance Officer, James S. Hopson Jr., remains available to address any questions that a client or prospective may have regarding the above fee billing practice. Client Obligations. In performing our services, CAG shall not be required to verify any information received from the client or from the client’s other professionals, and is expressly authorized to rely thereon. Moreover, it remains each client’s responsibility to promptly notify CAG if there is ever any change in his/her/its financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services. Please Note: Investment Risk. Different types of investments involve varying degrees of risk, and it should not be assumed that future performance of any specific investment or investment strategy (including the investments and/or investment strategies recommended or undertaken by CAG) will be profitable or equal any specific performance level(s).