FIRM STRUCTURE The Concord Advisory Group, Ltd. (CAG) was established in 1988 to provide investment consulting services to institutional clients. CAG currently has a total of 34 full and part time employees, including 12 associates that perform investment advisory functions. The remaining 22 employees consist of research, analytic, and administrative personnel. CAG’s principal office is located in Princeton, NJ. CAG has a regional satellite office located in Orlando, FL. CAG is independently owned and operated and does not have affiliations with any other investment managers, broker/dealers, solicitors, placement agents or finders, either on an operational or ownership basis. CAG was incorporated in New Jersey in 1990 and is majority owned by the partners Christopher E. Cahill and Scott Santin, and other employees own a minority interest. FIRM SERVICES CAG only provides non-discretionary investment advisory services, including (1) investment policy statement preparation, (2) asset allocation, (3) recommendation of underlying investment vehicles and/or managers, and (4) monitoring services, each as further described below. CAG provides these services either separately or in combination. The primary clients for these services are: pension, 401(k) and profit sharing plans; corporations, healthcare and insurance companies; charitable organizations, endowments and foundations; religious organizations; and family offices. Upon engagement CAG will assign a primary (or “lead”) consultant to be the direct contact with the client on an ongoing basis. 1. Investment Policy Statement Preparation (hereinafter referred to as "IPS"): CAG develops a client’s policy by consulting with the client to determine the client’s need(s) for the funds (i.e. liabilities) and when these needs will occur. From there, client risk tolerance is assessed, not only in terms of how much volatility a client can tolerate financially, but also how much volatility can be tolerated emotionally. These factors drive the asset allocation process, in which asset classes are recommended, along with the suggested weighting among such asset classes. CAG will then prepare a written IPS identifying the needs, goals and policies as discussed with the client. The IPS also generally lists the criteria for selection of investment vehicles and the procedures and timing interval for monitoring of investment performance. The following issues are covered in a typical IPS:  Purpose, needs, and time horizon of the investment assets  Responsibilities of interested parties  Risk / Return expectations  Asset allocation targets and ranges  Investment guidelines for each asset class  Performance Benchmarks  Risk Controls 2. Asset Allocation: CAG provides assistance to clients in formulating long-term, strategic asset allocation plans. Based on a client's underlying liability structure, CAG conducts asset allocation optimization and modeling. The output of the process sets the parameters for the future risk and return expectations. CAG’s asset allocation recommendations are formulated utilizing our firm’s capital market / asset class risk and return assumptions. Our capital market assumptions models take into consideration both long term historic index return data for the asset classes being utilized in the modeling scenarios, as well as current forecasted economic and market conditions (typically 3 - 5 years). Most of this data is derived from consensus forecasts gathered from leading global economic and research- oriented investment management firms. CAG will typically illustrate optimizations using both short term and long term data. This allows clients to view both long term norms and near term projections, and set their expectations accordingly. CAG generally revisits the capital market assumptions every three months. We believe in keeping the models fairly consistent, and adjusting the data when needed. 3. Recommendation of Managers and Investments: Prospective clients should note that all investment strategies involve risk. Investing in securities, including mutual funds, involves risk of loss of both income and principal which clients should be prepared to bear. When appropriate, CAG will review various independent investment managers and will make a recommendation as to which manager(s) are appropriate to implement based upon the client's IPS (or applicable portion thereof). In addition, CAG may from time to time, review various investments (typically consisting of mutual funds, commingled trusts, limited liability companies and private partnerships) to determine whether such an investment would be an appropriate vehicle to implement based on the client’s IPS (or applicable portion thereof). CAG does not charge a fee for recommending managers and/or investments when CAG is engaged in a full service strategic advisory consulting capacity. Please see Item 5 - Fees and Compensation. In performing an investment manager/and or investment vehicle search for a client, our firm utilizes both quantitative, as well as qualitative criteria, in

selecting finalists for our clients to interview. CAG will review various investment vehicles and/or separately managed portfolios offered by the investment manager. A recommendation will be made based on a “best-fit” analysis based on client needs. The quantitative criteria include items such as long-term performance, consistency of returns, risk characteristics, a review of the investment manager’s overall performance in both up and down markets and their performance versus benchmarks and peers. The qualitative criteria include, among other considerations, strength of personnel, structure of investment process, client servicing and pricing. In conducting an investment manager search CAG will run preliminary screens from both internal and external databases. We will rank finalist firms based on our view of what manager may achieve the “best client fit.” CAG does not have discretionary authority to hire or fire managers. We only recommend managers to our clients that pass our selection criteria. The client, in consultation with our firm, is responsible for the final hiring or firing decision. CAG bases its investment manager research on data from outside vendors, such as eVestment Alliance and Morningstar Direct, and, as such, we rely on the accuracy of their data. Clients should also be aware that past manager performance/returns do not guarantee future performance. Please see below for CAG’s ongoing monitoring of investment managers. 4. Monitoring of Investment Performance and Managers: Client investments will be monitored based on the procedures and timing intervals delineated in the client’s IPS. Our consulting staff will supervise the client's portfolio and will make recommendations to the client as market factors and the client's needs dictate. Our analytical staff completes our portfolio analytics work in conjunction with our research staff. CAG employs a full suite of portfolio analytics, both in terms of holdings- based analysis and returns-based analysis. We use these tools to analyze performance attribution, style drift, and study short and long term performance patterns or cycles. In addition to operating and maintaining our proprietary system, CAG utilizes software services from Morningstar and eVestment Alliance for asset allocation, style analysis, and performance attribution. In addition to downloading monthly and quarterly manager information to our database, all investment managers in which CAG’s clients are actively engaged also receive a questionnaire that they are required to complete on a quarterly basis. This questionnaire covers performance, organizational changes, and investment process. CAG uses this information received directly from the investment managers to verify the information housed within our proprietary database. Our research staff conducts ongoing due diligence meetings with investment managers. Our associates perform periodic on-site due diligence meetings for actively monitored investment managers that invest client assets. These meetings offer the opportunity to speak face-to-face with key decision-makers at the firm, including portfolio managers, analysts, operations, and compliance personnel. On-site meetings are supplemented by investment manager meetings at our office as well as conference calls throughout the year. Our firm utilizes a “Degree of Concern” ranking system for monitoring investment managers. We may recommend that an investment manager be terminated or placed on a formal watch list (under review) depending on the circumstances. The basic causes of an increase in our degree of concern can be boiled down to one or a combination of the following scenarios: performance-related, key personnel departures from the investment team, organizational concerns/uncertainty, and a weak investment process/changes to the investment process. If we recommend that an investment manager should be terminated, we will assist in selecting a new investment manager. However, the move to a new investment manager and/or program is at the discretion of the client. 5. Monitoring of Out Sourced Investment Programs (OCIO) Concord will oversee the performance of the outsourced investment program to compare the portfolio performance with standard indices, OCIO peer groups, and the impact from manager selection and the OCIO’s strategic / tactical asset allocation advice. The cost structure and efficiency of the program will be analyzed and Concord will negotiate fee structures. Review and revision of the client’s Investment Policy, including investment objectives and guidelines, and evaluation of the OCIO’s compliance with investment guidelines will be performed. An executive summary of Concord’s findings is delivered quarterly, with personal presentations as needed. PROJECT BASED SERVICES Portfolio Review; Manager Searches; Defined Contribution Plan Reviews; RFP Management (review candidates, evaluate, summarize, negotiate fees); Cost Analysis. ASSETS UNDER MANAGEMENT As of December 31, 2023, CAG had approximately $35.3 billion in non-discretionary assets under management.