Redmond Asset Management, LLC (“RAM”) is an independently owned SEC-registered advisor. The firm was founded in December 2005 by R. Scott Redmond, CFA and is headquartered in Richmond, Virginia. The firm is primarily focused on managing domestic equity portfolios for retail and institutional investors. Mr. Redmond is managing member and 85% direct owner of the firm. Effective January 1, 2014, Jeremy B. Kirkland became a partner of the firm and as of January 1, 2021, became 15% owner. We offer discretionary and non-discretionary portfolio management services to both individual and institutional investors through separately managed accounts, sub-advisory accounts, wrap fee accounts, and unified managed accounts (“UMA”). To the extent possible, we seek to tailor portfolios for clients’ individual needs. For example, we consider taxes, income and liquidity requirements, and risk tolerance when building and managing portfolios for clients. Clients may request specific restrictions on how their account is managed - for example, “no bank stocks.” RAM specializes in identifying and investing in publicly traded equity securities by utilizing bottom-up, fundamental research. A lesser portion of our assets under management is invested in fixed income securities, mutual funds, and exchange traded funds (“ETFs”). Most fixed income securities are purchased with the intent of holding-to-maturity. We utilize ETFs in our Global ETF Strategy. Our services are limited to the types of investments and types of investment advice specifically described in this brochure. For example, we are not capable of providing continuous advice concerning an options trading strategy or continuous advice on commodities or alternative investments; nor do we offer comprehensive estate planning services. RAM does offer limited financial planning services as part of our process of determining with the client the appropriate investment policy and investment strategy to help accomplish the client’s investment goals according to the client’s risk tolerance. No additional fee is charged to the client for the limited financial planning service. Separately Managed Accounts Separately managed accounts are managed for tax-exempt and taxable clients on a fully discretionary basis and on a non-discretionary basis. Clients may choose among multiple custodians and grant us brokerage discretion or choose directed brokerage. Separately managed account clients may place restrictions on the management of their accounts. Sub-Advisory Accounts RAM had sub-advisory relationships with other investment firms from 2009 to 2020. We offered discretionary and non-discretionary advice to clients of these outside intermediaries on a separate account basis. We strived to manage these accounts in the same manner as our separately managed accounts; however, the contact between us and the end-client was limited. Clients with a sub-advisory account were able to place restrictions on the management of their accounts. Wrap Fee Accounts RAM participated in a “wrap fee” program from 2012 to 2020. Wrap fee programs are arrangements between broker-dealers, investment advisors, banks and other financial institutions through which clients receive investment advice, brokerage, and custodial services in a bundled fee format – called a “wrap fee.” We receive a portion of the wrap fee as agreed between us and the wrap fee program sponsor or as agreed between us, the plan sponsor, and the end client. In these relationships, the level of client contact is less

than contact with clients with separately managed accounts, usually because a representative from the plan sponsor is the client’s direct contact. Wrap fee account clients were able to place restrictions on the management of their accounts. Model-Based & Unified Managed Account (“UMA”) Programs Pursuant to an agreement, certain registered representatives have retained RAM to provide complete recommendations regarding the purchase, sale, and retention of securities consistent with the management of a hypothetical investment portfolio (model portfolio) currently maintained by us that corresponds to a specific investment style. The registered representatives subsequently use the model to assist in managing their client accounts. When changes are made to the model and after all trades have been placed for RAM clients, we promptly notify our subscribers of the changes. The subscriber may or may not decide to implement the changes in his/her client accounts. Effective December 2013, some assets previously under management transitioned to assets under advisement on a Unified Managed Account platform. A UMA is a professionally managed private investment account that is rebalanced regularly and can encompass every investment vehicle in an investor’s portfolio, all in a single account. Pursuant to an agreement, certain Unified Managed Account or Model Program Sponsors (“Sponsor”) receive Redmond Asset Management’s model securities portfolio for a particular investment style and, based on that model, the Sponsor, or its designated representative (“Overlay Manager”) exercises investment discretion and executes each investor’s portfolio transactions predicated on the Sponsor’s or Overlay Manager’s own investment judgment. These Programs are referred to as Model-Based Programs. RAM typically provides its model portfolio (also known as impersonal investment advice) to the Sponsor or Overlay Manager, who subsequently provides investment advice to its clients, based on their individual needs. When changes are made to a model by RAM, the Sponsor or Overlay Manager is responsible for implementing any modifications in their client accounts that are invested in the specific strategy. The Sponsor/Overlay Manager may or may not elect to execute all the purchase and/or sale transactions suggested by submissions of revisions in the model portfolio. RAM does not have any contact with the underlying client of these programs, nor does it enter trades, receive trade reports, or have access to any client reporting related to these accounts. The Sponsor is responsible for determining whether RAM’s model is suitable for its clients. We regularly update the equity model portfolio (i.e., Small Cap) in accordance with the terms of each contract with the Sponsor or Overlay Manager. For example, we may update the model after all trades in our client accounts have been placed or update the model within our existing trade rotation policy. Since RAM does not participate in the trading process executed by UMA Sponsors and/or Overlay Managers, it is possible that trades are executed before, after, or at the same time as RAM executes similar trades for its Separately Managed Accounts, which could result in less favorable pricing for either RAM clients, clients of the UMA Sponsor/Overlay Manager, or both. Assets Under Management As of December 31, 2023, $359,850,803 of assets under management are discretionary, and $18,636,442 are non-discretionary.