Introduction The Magnolia Group, LLC (“The Magnolia Group” or the “Firm”) is an investment adviser registered with the United States Securities and Exchange Commission (“SEC”), with principal offices in Omaha, Nebraska. The Magnolia Group, LLC is privately held and is owned 100% by Adam K. Peterson, its founder and Managing Member. The Firm was established in November 2012 and became registered as an investment adviser in August of 2014. The Magnolia Group provides investment advisory services to the Magnolia Capital Fund, LP and Magnolia BOC I, LP, collectively (“clients”). Private Fund Asset Management The Capital Fund The Magnolia Group provides investment advisory services to a private investment fund, the Magnolia Capital Fund, LP, a Delaware limited partnership (the “Capital Fund” or the “Fund”). The Magnolia Group serves as the general partner (in such capacity, the “General Partner”) and investment adviser to the Capital Fund with sole authority to manage and control the business affairs of the Capital Fund as well as exclusive portfolio management responsibilities pursuant to the Capital Fund’s Limited Partnership Agreement (“Partnership Agreement”). The Magnolia Group manages the Capital Fund’s assets based on the investment objectives and restrictions of the Capital Fund as outlined in the Capital Fund’s Confidential Private Offering Memorandum (“Memorandum”), rather than on the individual needs and objectives of the limited partners in the Capital Fund. While the Capital Fund’s assets will be primarily invested in publicly traded common stock, the Capital

Fund is authorized to invest in any other securities, instruments, derivatives, and other investments deemed appropriate by The Magnolia Group, including, but not limited, preferred stock, options on stocks and indices, warrants, bonds, debentures, convertible securities and other debt obligations, exchange traded funds, swaps, forwards, futures, indices, structured and other synthetic securities and related derivative instruments (including those relating to equity securities, equity indices, interest rate products, fixed-income products, currencies and indices), securities of foreign issuers, private equity, and non- marketable investments. Investments in the Capital Fund are suitable for “Accredited Investors” as defined in Rule 501(a) of the Securities Act of 1933 and “Qualified Clients” as defined under Rule 205-3 of the Investment Advisers Act of 1940 (“Advisers Act”). Investors interested in the Capital Fund should refer to the Partnership Agreement and the Memorandum for important information regarding investment objectives, risks, fees, and additional disclosures for a complete understanding of the terms and conditions for investing in the Capital Fund. Fund of One The Magnolia Group also provides investment advisory services to a fund of one, Magnolia BOC I, LP (“Fund of One”). The Fund of One is comprised of a single limited partner investor and is intended to hold only one asset. The Magnolia Group, LLC Page 5 Form ADV Part 2A Assets Under Management As of December 31, 2023, The Magnolia Group manages approximately $783,587,938 of assets on a discretionary basis.