ABOUT OUR FIRM Branzan Investment Advisors, Inc. (“Branzan” or “Firm”) is currently registered with the Securities and Exchange Commission ("SEC") as an investment adviser, with its principal place of business located in Colorado. Branzan has been in business since 2002, and its principal owners are John G. Brant Jr. and Spencer Brant. Our Firm was registered with the SEC as an investment adviser in 2006. Branzan is the General Partner of the Branzan Alternative Investment Fund, L.L.L.P, the Branzan Energy Income Fund, L.L.L.P., the Branzan Energy Income Fund II, L.L.L.P. and the Branzan Energy Income Fund III, L.L.L.P. (“Funds”). This brochure is designed to provide detailed and precise information about each item noted in the table of contents. Certain disclosures are repeated in one or more items, and other disclosures are referred to throughout to be as comprehensive as possible on the broad subject matters discussed. Within this brochure, specific terms in either are used as follows:
• Branzan refers to Branzan Investment Advisors, Inc.
• “Firm,” “we,” “us,” and “our” refer to Branzan Investment Advisors, Inc.
• “Advisor,” “Investment Advisor Representative,” and “IAR” refer to our professional representatives who provide investment recommendations or advice on behalf of Branzan Investment Advisors, Inc.
• “Clients” refers to the separately managed accounts and Private Funds.
• “You,” “yours,” and “Client” refer to Clients of Branzan Investment Advisors, Inc. and its advisors.
• “Code” refers to our Firm’s Code of Ethics.
• “CCO” refers to our Chief Compliance Officer, John G. Brant, Jr. ADVISORY SERVICES WE OFFER Our Firm offers a variety of advisory services, which include discretionary investment management and private funds. Before rendering any preceding advisory services, Clients must enter into one or more written Investment Advisory Agreements (“Agreements”), setting forth the relevant terms and conditions of the advisory relationship. The Funds and separately managed accounts are collectively referred to as “Clients” in this brochure. Our Firm manages separately managed accounts for charitable foundations and private funds. With our discretionary basis, we will change the portfolio as appropriate to help meet your financial objectives. We trade Client portfolios based on our Firm’s market views and the Client’s financial goals. We primarily allocate our separately managed accounts into mutual funds, stock and bond ETFs, ETNs, individual stocks, bonds, treasuries, CEFs, BDCs, gold, silver, REITs and private notes. The Investment Advisory Agreement with our Clients gives us broad investment authority, so we may utilize other security types when investing. A Client’s investment allocation and our strategy will depend on the Client's responses in review meetings, written questionnaires, stated goals, risk tolerance, and objectives. Clients are advised to promptly notify us if there are changes in their financial situation or if they wish to place any limitations on managing their portfolios. We do not provide tax or legal advice. Clients should consult with an expert on tax or

legal issues. Branzan Investment Advisors | ADV Part 2A Brochure | May 2024 v.2 Page 7 of 30 PRIVATE FUND Branzan, or an affiliate, acts as a General Partner to multiple Private Funds (each a “Client” or “Fund”). Interests in the Funds are offered to Reg D qualified investors – certain sophisticated, qualified investors, including high net worth individuals, retirement plans, trusts, partnerships, corporations, or other businesses. Our primary investment objective is to offer exposure to certain sectors that may otherwise not be available to our Clients. Additional details are available in the Funds’ Private Placement Memoranda and Offering Documents. The Firm employs an opportunistic, value-oriented investment strategy supported by an analytical, fundamental research approach to identifying and assessing intrinsic value. However, our Firm may tailor specific advisory services with respect to each Private Fund based on the particular investment objectives and strategies described in the applicable Fund’s (i) confidential offering memorandum and (ii) limited partnership agreement and other governing documents (referred to collectively as “Offering Documents”). The goal is to create an offering (the Fund) that has a unique position and profile in the marketplace, exposed to skilled fund management, with proven historical performance, and with a strategy that is poised for upside given the underwritten risks. The Funds are not registered as investment companies under the Investment Company Act of 1940 and only offer interests in a private placement. Further, such interests in private placements are only offered to accredited investors (as defined in Section 2(a)(51) of the Investment Company Act). Investors will be required to represent in writing that they meet any such standards that may be applicable to them. The General Partner of the Funds can, without the consent of the existing Members, admit new Members to the Funds. The General Partner may reject a subscription for an Interest for any reason in its sole and absolute discretion. It is important clients refer to Item 8 – Methods of Analysis, Investment Strategies, and Risk of Loss below for important information about the risks associated with the Private Funds. CLIENT OBJECTIVES & RESTRICTIONS Our Firm tailors its investment management and advisory services continuously to meet the needs of our Clients. We seek to ensure Client portfolios are managed consistently with those needs and objectives in mind. We meet with Clients on an initial and ongoing basis to assess their specific risk tolerance, time horizon, liquidity constraints, and other related factors relevant to managing their portfolios. Clients may impose reasonable restrictions on managing the accounts if the conditions do not impact the performance of a management strategy. WRAP FEE PROGRAM Our Firm does not sponsor or participate in a Wrap Program. ASSETS UNDER MANAGEMENT As of December 31, 2023, our Firm had $102,215,657 in discretionary assets under management and $0 in non- discretionary assets under management. Branzan Investment Advisors | ADV Part 2A Brochure | May 2024 v.2 Page 8 of 30