Black Cypress Capital Management, LLC (hereinafter “Black Cypress”) is a limited liability company formed under the laws of the State of Florida in July 2009. Black Cypress is owned and managed by Alan Hartley, CFA and is registered as an investment adviser with the Securities and Exchange Commission ("SEC"). Black Cypress provides continuous and regular investment advisory services for both discretionary (client approval prior to investment activity not required) and non-discretionary (client approval prior to investment action required and/or other types of limitations) accounts for various types of clients, including individuals, institutions, businesses, family offices, trusts, and charitable organizations. Black Cypress specializes in concentrated, long-term, and value-oriented portfolios. We believe our unrestrained time horizon, consistent process, and independent research lead to superior performance over a full market cycle. Our primary investment strategy is Long-Only Equity. Other investment programs are available that include exposure to international equity and fixed income markets through exchange-traded funds, depending on client-specific investment needs, risk profile, and requests. The firm's investment process is built on independent, in-depth research and rigorous risk management practices. Black Cypress manages risk using margins of safety and a bias towards businesses with attractive returns on invested capital, low debt levels, ample cash flow, and sustainable competitive advantages. Capital preservation is further enhanced

by a strict buy and sell discipline and proper risk- adjusted position sizing. Our investment recommendations are not limited to any specific product or service offered by a broker- dealer or insurance company and will generally include advice regarding the following securities:  Exchange-listed securities  Corporate debt securities (other than commercial paper)  United States governmental securities Clients may request reasonable restrictions on investing in certain securities, types of securities, or industry sectors. Black Cypress, in its discretion, may agree to manage accounts that do not conform to its primary strategies. Services may also include determining a client's appropriate asset mix, providing written investment policy statements, and offering risk management strategies. Black Cypress conducts interviews and assessments to determine investment goals and risk tolerance in order to determine investment and allocation suitability. Black Cypress offers services and investment management tailored to individual clients. Our client agreements may be terminated at any time by either party. Such termination shall be without the payment of any penalty and without liability of either party to the other, except that the client shall remain liable for any accrued but unpaid compensation due to Black Cypress. Client Assets Under Management as of December 31, 2023: Discretionary accounts: $102,936,647 Non-discretionary accounts: $118,522,591 Total: $221,459,238 BLACK CYPRESS | CAPITAL MANAGEMENT 5 | 13