MAA provides financial planning, consulting, and investment management services. Prior to engaging the firm to provide any of the foregoing investment advisory services, the client is required to enter into one or more written agreements with MAA setting forth the terms and conditions under which MAA renders its services (collectively the “Agreement”). Mraz, Amerine & Associates, Inc., dba Mraz and Associates, (“MAA” and/or “the firm”) is a corporation formed in the State of California. MAA has been in business since October 2011. David Mraz, Gloria Mraz and Deidre Mraz Johnson are the principal owners of the firm. As of January 2, 2024, the firm had $652,513,277 in assets under management on a discretionary basis and $0 managed on a non-discretionary basis. This Disclosure Brochure describes MAA’s business. Certain sections will also describe the activities of Supervised Persons. Supervised Persons are any of MAA’s officers, partners, directors (or other persons occupying a similar status or performing similar functions), or employees, or any other person who provides investment advice on MAA’s behalf and is subject to MAA’s supervision or control. Financial Planning Services MAA may provide its clients, upon request, with basic financial planning and consulting services. These services include business planning, investments, insurance, retirement, education, estate planning, and tax and cash flow needs of the client. These services are generally included as part of MAA’s investment management services, described below. In performing its services, MAA is not required to verify any information received from the client or from the client’s other professionals (e.g., attorney, accountant, etc.) and is expressly authorized to rely on such information. MAA may recommend the services of itself and/or other professionals to implement its recommendations. Clients are advised that a conflict of interest exists if MAA recommends its own services. The client is under no obligation to act upon any of the recommendations made by MAA under a financial planning or consulting engagement or to engage the services of any such recommended professional, including MAA itself. The client retains absolute discretion over all such implementation decisions and is free to accept or reject any of MAA’s recommendations. Clients are advised that it remains their responsibility to promptly notify MAA if there is ever any change in their financial situation or investment objectives for the purpose of reviewing, evaluating, or revising MAA’s previous recommendations and/or services. Investment Management Services Clients can engage MAA to manage all or a portion of their assets on a discretionary or a non- discretionary basis. MAA primarily allocates clients’ investment management assets among mutual funds, individual debt and equity securities as well as the securities components of variable annuities and variable life insurance contracts in accordance with the investment objectives of the client. MAA also provides advice about any type of investment held in clients' portfolios. MAA also may render non-discretionary investment management services to clients relative to variable life/annuity products that they may own, their individual employer-sponsored retirement plans, and/or 529 plans or other products that may not be held by the client’s primary custodian. In so doing, MAA either directs or recommends the allocation of client assets among the various investment options that are available with the product. Client assets are maintained at the specific insurance company or custodian designated by the product. MAA’s asset allocation models are diversified among investment styles and/or asset classes and are primarily based on research conducted by MAA and its Associated Persons. We also use portfolio models developed by third party model providers. Once a portfolio is constructed, MAA provides continuous supervision of the portfolio as changes in the market conditions and client circumstances may require. Investments and allocations are determined based

upon the clients’ predefined objectives, risk tolerance, time horizons, financial horizons, financial information, and other suitability factors. Further restrictions and guidelines imposed by clients may affect the composition and performance of a client’s portfolio. As such, different clients of our firm may have significant differences in their asset allocation. For these reasons, performance of one client’s portfolio might not be identical with another client’s even if both clients have similar risk parameters. We review the clients’ financial circumstances and investment objectives on a regular basis and make adjustments to the portfolios or allocation models as may be necessary in an effort to achieve the desired results. At all times, our firm requires each Associated Person to uphold their fiduciary duty by providing advice that in our judgement is in the client’s best interest. Clients are advised to promptly notify MAA if there are changes in their financial situation or investment objectives or if they wish to impose any reasonable restrictions upon MAA’s management services. Clients may impose reasonable restrictions or mandates on the management of their account (e.g., require that a portion of their assets be invested in socially responsible funds) if, in MAA’s sole discretion, the conditions will not materially impact the performance of a portfolio strategy or prove overly burdensome to its management efforts. Investment Management of Plan Assets MAA provides investment advisory services to retirement plans (“Plan”), covered by the Employee Retirement Income Security Act of 1974 (ERISA). In providing services to the Plans, our status is that of an investment adviser registered under the Investment Advisers Act of 1940, and we are not subject to any disqualifications under Section 411 of ERISA. In performing fiduciary services, we are acting either as a non-discretionary fiduciary of the Plan as defined in Section 3(21) under ERISA, or as a discretionary fiduciary of the plan as defined in Section 3(38) under ERISA. We provide discretionary or non-discretionary investment management services to Plan(s). We also offer additional services to the Plan including periodically reviewing the Plan(s) investment vehicles and investment policy statements, and will recommend changes in the plan's investment vehicles, as appropriate. MAA will assist in establishing the investment objectives of the Plan, the asset types and classes to be offered under the Plan, the number of investment options to be offered under each class of investment and select a qualified default investment alternative (“QDIA”) along with determining the continuing suitability of a QDIA. Additionally, we may provide participant education meetings and provide educational materials to participants in the Plan, advising them of features, benefits, and investment options under the Plan. Participants maintain the sole responsibility to act upon the advice, unless they individually enter into a separate advisory contract under which MAA would take on discretionary control and ongoing management for the participants account(s). Depending on the type of Plan and the specific arrangement with the Plan Sponsor, we may provide one or more of these services. The services are designed to assist plan sponsors in meeting their management and fiduciary obligations to participants under the Employee Retirement Income Securities Act (“ERISA”). Pursuant to adopted regulations of the U.S. Department of Labor, we are required to provide the Plan's responsible plan fiduciary (the person who has the authority to engage us as an investment adviser to the Plan) with a written statement of the services we provide to the Plan, the compensation we receive for providing those services. The services we provide to your Plan are described above, and in the service agreement that you have signed. Our compensation for these services is described below, in Item 5, and in the service agreement. We do not reasonably expect to receive any other compensation, direct or indirect, for the services we provide to the Plan or Participants.