Progressive is registered as an investment adviser and has been in business since 1987. The firm is controlled by a trust with Carsten Henningsen, President, as a trustee. Progressive is organized as a corporation under the laws of Oregon and the United States of America. There are two offices for Progressive; 310 N. State Street, Suite 214, Lake Oswego, OR 97034 and 256 Oakway Center, Eugene, OR 97401. The regular business hours for the Portland office are 9:00-4:00, Monday through Friday; the Eugene office is by appointment only. All of the investment management services offered by Progressive are designed to meet Environmental, Social, and Governance (ESG) criteria as defined by the firm. Advisory Services Progressive provides investment management services on a discretionary basis to individuals, retirement plans, corporations, trusts, charitable organizations, endowments, and foundations. The firm offers separately managed accounts that may invest in individual stocks and bonds, mutual funds and Exchange Traded Funds (ETFs) using the investment strategies described below. Progressive may provide investment recommendations in the form of model recommendations and investment research on a non-discretionary basis to other investment managers. Our core services are described in the following paragraphs and the related fees are described in the next section of this brochure, entitled “Item 5 – Fees and Compensation.” Separately Managed Accounts Progressive’s proprietary ESG criteria inform our investment decisions. We seek investments that act responsibly and provide competitive financial performance. Progressive invests with

a long-term focus and believes that positive ESG factors make a material difference for investments over a long time horizon. We believe using these ESG criteria gives our investments competitive risk-adjusted returns relative to the market. As specified in our investment management services agreement, Progressive manages client accounts on a discretionary basis. Clients may impose reasonable restrictions. While we use our best efforts to recommend investments designed to address client investment objectives and risk tolerance, we cannot assure that our recommendations will achieve those objectives. Past investment performance is not necessarily indicative of future returns. Consulting Services We provide financial advice beyond the scope of our normal investment management services. This may include a review of investment accounts outside of our management such as employer sponsored retirement plans or pension accounts, 529 plans, and investments in insurance or annuity contracts. Other services may include financial projections, research on cost basis, or preparing a net worth statement. Model Recommendations and Investment Research Progressive may enter into agreements where we provide investment model portfolios to other investment managers. The manager then effects transactions in the client accounts they manage. Progressive does not have any contact with the manager’s underlying client and does not control how the investment model/research is implemented by the manager. Assets Under Management As of December 31, 2022, we had approximately $506,785,910 in regulatory assets under discretionary management.