Lens Investments is an investment adviser registered with the United States Securities and Exchange Commission (“SEC”) and is a limited liability company (LLC) formed under the laws of the State of California.
• Julie R. Hammerman is the Managing Member and 100% owner of Lens Investments.
• Lens Investments was approved as a registered investment adviser in May 2015. Introduction The investment advisory services of Lens Investments are provided to clients through an appropriately licensed and qualified individual who is an investment adviser representative of Lens Investments (referred to as your investment adviser representative throughout this brochure). Description of Advisory Services The following are descriptions of the primary advisory services of Lens Investments. Please understand that a written agreement, which details the exact terms of the service, must be signed by you and Lens Investments before we can provide you the services described below. Asset Management Services – Lens Investments offers asset management services, which involves Lens Investments providing clients with continuous and ongoing supervision over your specified accounts. Clients must appoint Lens Investments as the investment adviser of record on specified accounts (collectively, the “Account”). The Account’s qualified custodians maintain physical custody of all funds and securities of the Account, and clients retain all rights of ownership (e.g., right to withdraw securities or cash, exercise or delegate proxy voting and receive transaction confirmations) of the Account. The Account is managed by us based on the client’s financial situation, investment objectives and risk tolerance. We actively monitor the Account and provide advice regarding buying, selling, reinvesting or holding securities, cash or other investments of the Account. We will need to obtain certain information from the client to determine your financial situation and investment objectives. The client will be responsible for notifying us of any updates regarding your financial situation, risk tolerance or investment objective and whether the client wishes to impose or modify existing investment restrictions; however, we will contact clients at least annually to discuss any changes or updates regarding the client’s financial situation, risk tolerance or investment objectives. We are always reasonably available to consult with clients relative to the status of their Account. Clients have the ability to impose reasonable restrictions on the management of their accounts, including the ability to instruct us not to purchase certain securities. It is important that clients understand that we manage investments for other clients and may give them advice or take actions for them or for our personal accounts that is different from the advice we provide to Lens Investments, LLC Page 5 Form ADV Part 2A Disclosure Brochure them or actions taken for them. We are not obligated to buy, sell or recommend to our clients any security or other investment that we may buy, sell or recommend for any other clients or for our own accounts. Conflicts may arise in the allocation of investment opportunities among accounts that we manage. We strive to allocate investment opportunities believed to be appropriate for the client’s account(s) and other accounts advised by our firm among such accounts equitably and consistent with the best interests of all accounts involved. However, there can be no assurance that a particular investment opportunity that comes to our attention will be allocated in any particular manner. If we obtain material, non-public information about a security or its issuer that we may not lawfully use or disclose, we have absolutely no obligation to disclose the information to any client or use it for any client’s benefit. Referral of Sub-Advisors - Lens Investments may provide investment management services to clients facilitated in a collaborative effort with unaffiliated independent investment advisory firms (Sub Advisors). Lens Investments will monitor accounts based upon impact investing criteria and the selected Sub Advisor will manage and monitor the accounts based upon various economic and investment factors. The selected Sub Advisor will manage the accounts on a discretionary basis granted by the client Management Agreement. Under these arrangements, each account is held at an unaffiliated brokerage firm or custodian and is registered to the client. The custodian maintains physical custody of all funds and securities of the account, and the client retains all rights of ownership. Lens Investments does not receive any compensation from commissions or other charges levied by the account’s brokerage or custodial firm. We are compensated solely by the investment management fee as detailed in the Investment Management Agreement. Clients will engage Lens Investments and the selected Sub Advisor to design an investment portfolio and provide ongoing corresponding

investment management services on a fee-only basis. All securities are owned directly by the account’s registered owner. Consulting Services - We provide consulting for investors interested in impact investing. Lens Investments also provides education on values-based investing and serves as a resource for investors, investment committees, boards, management, investment consultants and investment managers. Lens Investments helps investors define their values or mission with respect to investing, to update their investment policy statement, to evaluate their current investments, to work with their existing investment managers and consider new managers to best meet their values and mission, and to monitor and report on the positive impact that results from their new values-based approach. Values or mission areas may include the environment (ex. climate change, pollution, renewable energy, conservation) and social (ex. alleviating poverty, human rights, job creation, helping women and/or minorities, caring for workers, suppliers and local communities) Our consulting services do not involve implementing any transaction on the client’s behalf or the active and ongoing monitoring or management of their investments or accounts. The client has the sole responsibility for determining whether to implement our consulting recommendations. To the extent that the client would like to implement any of our investment recommendations through Lens Investments or Lens Investments, LLC Page 6 Form ADV Part 2A Disclosure Brochure retain Lens Investments to actively monitor and manage their investments, the client must execute a separate written agreement with Lens Investments for our asset management services. Investment Screening Research Lens Investments provides investment research services to other investment advisory firms. Our Research Services include:
• Investment Due Diligence on values-based criteria Shareholder Advocacy Lens Investments may assist clients who wish to engage in shareholder advocacy by helping them identify issue areas, opportunities to file and co-file resolutions, and investor coalitions. Lens Investments will also help facilitate discussions with company management and/or presentations at annual corporate meetings should these services be of interest to clients. Seminars Lens Investments may occasionally provide seminars in areas such as values-based investing. Seminars are always offered on an impersonal basis and do not focus on the individual needs of participants. Workshops Lens Investments offers educational, informative and motivational workshops to the public as well as to associations and foundations. Workshops are always offered on an impersonal basis and do not focus on the individual needs of the participants. Limits Advice to Certain Types of Investments Lens Investments provides investment advice on the following types of investments:
• Mutual Funds
• Exchange-listed Securities
• Securities Traded Over-the-Counter
• Foreign Issues
• Corporate Debt Securities
• Municipal Securities
• US Government Securities
• Interests in Partnerships Investing in Real Estate
• Impact Oriented Investments
• Private Equity Investments
• Private Debt Investments Lens Investments, LLC Page 7 Form ADV Part 2A Disclosure Brochure Although we generally provide advice only on the products previously listed, we reserve the right to offer advice on any investment product that may be suitable for each client’s specific circumstances, needs, goals and objectives. (Please refer to Item 8 – Methods of Analysis, Investment Strategies and Risk of Loss for more information.) Tailor Advisory Services to Needs of Clients Lens Investments’ advisory services are always provided based on client needs. This means, for example, that when we provide asset management services, clients are given the ability to impose restrictions on the accounts we manage for them, including specific investment selections and sectors. We work with clients on a one-on-one basis through interviews and questionnaires to determine their investment objectives and suitability information. Our consulting services are always provided based on the client’s individual needs. When providing consulting services, we work with the client on a one-on- one basis through interviews and questionnaires to determine their investment objectives and suitability information. We will not enter into an investment adviser relationship with a prospective client whose investment objectives may be considered incompatible with our investment philosophy or strategies or where the prospective client seeks to impose unduly restrictive investment guidelines. Client Assets Managed by Lens Investments The amount of client assets managed by Lens Investments totaled $5,939,729 as of December 31, 2022. All assets are managed on a non-discretionary basis.