A. 16th Amendment Advisors LLC is a limited liability company formed on May 15, 2009 in the State of Delaware. The Adviser became registered as an Investment Adviser Firm in May 2009. The Adviser is principally owned by John J. Lee and Richard J. McCarthy, the Adviser’s Managing Members. As discussed below, the Adviser offers advisory services to individual clients, on a discretionary basis, primarily limited to the purchase and sale of municipal securities. The Adviser also serves as an Investment Adviser to proprietary separately managed accounts for its members and their families which are not open to outside investors. In addition, as discussed below, the Adviser provides advisory services to an affiliated proprietary private investment fund, which is not open to outside investors, in accordance with the terms and conditions of the private fund’s offering documents. Please Note: Conflict Of Interest. The Adviser has policies and procedures in place that distinguish between investment strategies and provide for fair allocation of securities to all clients. These policies are available to be reviewed by clients and prospects upon request, in writing, to the Adviser. The Adviser’s Chief Compliance Officer, John J. Lee, remains available to address any questions regarding this conflict of interest. B. The Adviser does not provide financial planning, estate planning, insurance planning or any related or unrelated financial planning. INVESTMENT ADVISORY SERVICES The client can determine to engage the Adviser to provide discretionary investment advisory services on a fee-only basis. The Adviser’s annual investment advisory fee is based upon a percentage (%) of the market value of the assets placed under the Adviser’s management (generally between 0.10% and 1.00%*) depending upon the amount of assets under management and the complexity of the engagement. The specific fee is set forth on Exhibit “A” to the Investment Advisory Agreement executed by the client. See additional disclosure at Items 5 and 7 below. * The Adviser, in its sole discretion, may provide investment advisory services on a fixed fee basis (See disclosure below) * In the event that a client requests extraordinary services, the Adviser reserves the right to increase its management fee. MISCELLANEOUS Limited Consulting Services. To the extent specifically requested by a client, Registrant may provide financial planning and related consulting services regarding non-investment related matters, such as estate planning, tax planning, insurance, etc. The Registrant does not serve as a law firm, accounting firm, or insurance agency, and no portion of Registrant’s services should be construed as legal, accounting, or insurance implementation services. Accordingly, Registrant does not prepare estate planning documents, tax returns or sell insurance products. To the extent requested by a client, Registrant may recommend the services of other professionals for certain non-investment implementation purposes (i.e. attorneys, accountants, insurance agents, etc.). Clients are reminded that they are under no obligation to engage the services of any such recommended professional. The client retains absolute discretion over all such implementation decisions and is free to accept or reject any recommendation made by Registrant or its representatives. Please Note: If the client engages any unaffiliated recommended professional, and a dispute arises thereafter relative to such engagement, the client agrees to seek recourse exclusively from and against the engaged professional. At all times, the engaged licensed professional[s] (i.e. attorney, accountant, insurance agent, etc.), and not Adviser, shall be responsible for the quality and competency of the services provided. Fixed Fee Investment Advisory Services. The Adviser may provide investment advisory services on a fee-only fixed fee basis based upon various objective and subjective factors, including, scope of the advisory service to be provided, the complexity of the engagement, types of investments, and in the event of a non- discretionary engagement, the dollar amount of any recommended transaction. The terms and conditions of any such engagements shall be set forth in an Investment Advisory Agreement between the Adviser and the client. Please Note: Adviser’s affected fixed fee clients could pay different fees based upon these subjective factors, which services could be available from other advisers at lower fees. Client Obligations. In performing its services, Adviser shall not be required to verify any information received from the client or from the client’s other professionals (in each case whether written or oral), and is expressly authorized to rely thereon. Moreover, each client is advised that it remains their responsibility to promptly notify the Adviser in writing if there is ever any change in their financial situation or investment objectives for the purpose of reviewing/evaluating/revising

Adviser’s previous recommendations and/or services. Disclosure Brochure. A copy of the Adviser’s written Brochure as set forth on Part 2A of Form ADV shall be provided to each client prior to, or contemporaneously with, the execution of the Investment Advisory Agreement. Proprietary Funds And Accounts. The Adviser also serves as the investment manager to certain affiliated proprietary private investment funds, Vicksburg Municipal Trading Fund LP and its offshore feeder fund, Vicksburg Municipal Trading Offshore Fund LTD (all funds together the “affiliated funds”). Vicksburg Municipal Partners LLC serves as the General Partner of Vicksburg Municipal Trading Fund LP (the complete description of the terms, conditions, and risks is set forth in each affiliated funds offering documents). The affiliated funds are proprietary in nature and not open to clients of the Adviser. The Adviser also serves as an Investment Adviser to proprietary separately managed accounts. The investment strategy of the proprietary separately managed accounts is not open to clients of the Adviser. Please Note: The investment strategies of the affiliated funds and accounts are materially different than the strategies for the client accounts and 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, the affiliated funds do not provide daily liquidity or pricing and rely on persistent use of leverage, hedging and active trading. Please Also Note: Conflict Of Interest. The affiliated funds and proprietary separately managed accounts may also invest in the same securities as other clients of the Adviser. The Adviser has policies and procedures in place that distinguish between the proprietary and investment strategies and provide for fair allocation of securities to all clients. These policies are available to be reviewed by clients and prospects upon request, in writing, to the Adviser. The Adviser’s Chief Compliance Officer, John J. Lee, remains available to address any questions regarding this conflict of interest. C. The Adviser shall provide investment advisory services consistent with investment guidelines of investment strategies it manages and may, if requested, and agreed to by the Adviser, to the specific needs of each client. Prior to providing investment advisory services, an investment adviser representative will ascertain each client’s investment objective(s) and which investment strategy is appropriate. Thereafter, after completion of an Investment Advisory Agreement with the Adviser, the Adviser shall allocate and/or recommend that the client allocate investment assets consistent with the designated investment strategy. The client may, at any time, impose reasonable restrictions, in writing, on the Adviser’s services, which restrictions must be agreed upon by the Adviser. D. Please Note (Wrap/Separate Managed Account programs): In the event that the Adviser is engaged to provide investment advisory services as part of an unaffiliated wrap-fee program, the Adviser will be unable to negotiate commissions and/or transaction costs. Under a wrap program, the wrap program sponsor arranges for the investor participant to receive investment advisory services, the execution of securities brokerage transactions, custody and reporting services for a single specified fee. Participation in a wrap program may cost the participant more or less than purchasing such services separately. In the event that the Adviser is engaged to provide investment advisory services as part of an unaffiliated managed account program, Adviser will likewise be unable to negotiate commissions and/or transaction costs. If the program is offered on a non-wrap basis, the program sponsor will determine the broker-dealer though which transactions must be effected, and the amount of transaction fees and/or commissions to be charged to the participant investor accounts. Please Note: Since the custodian/broker-dealer is determined by the unaffiliated program sponsor, Adviser will be unable to negotiate commissions and/or transaction costs, and/or seek better execution. As a result, client may pay higher commissions or other transaction costs or greater spreads, or receive less favorable net prices, on transactions for the account than would otherwise be the case through alternative clearing arrangements recommended by Adviser. Higher transaction costs adversely impact account performance. Adviser’s Chief Compliance Officer, John J. Lee, remains available to address any questions that a client may have regarding the above E. As of December 31, 2022, the Adviser had $164,450,264 assets under management on a discretionary basis.