Franklin Street Advisors, Inc. (FSA or the Firm) was formed in 1991 to provide independent strategic investment advice. Effective November 1, 2018, FSA was acquired by Fifth Third Acquisition Holdings, LLC, ultimately a wholly owned subsidiary of Fifth Third Bank, National Association, and Fifth Third Bancorp. Fiduciary Duty FSA is offering its services to you in its capacity as a registered investment adviser under the Investment Advisers Act of 1940 (Advisers Act). Under the Advisers Act, FSA has a fiduciary responsibility to you, our client. Consequently, we are required to act in your best interests and strive to provide you with the material information about FSA’s advisory services, investment practices, conflicts of interest and fees a client should understand before selecting FSA as their investment adviser. This Brochure is an important part of that disclosure obligation, and we encourage you to read it carefully. Because FSA provides investment advisory services to pension and other employee retirement benefit plans and individual retirement account (IRA) holders, we are subject to the requirements of the Employment Retirement Income Security Act of 1974 (ERISA). Therefore, we reasonably expect to provide services in our capacity as a “fiduciary” under Section 3(21) of ERISA and/or under Section 4975 of Internal Revenue Code (Code) of 1986, and as an “investment manager” under section 3(38) of ERISA with respect to certain retirement accounts as defined by ERISA and the Code. Advisory Services FSA specializes in delivering high touch investment management services to high-net-worth individuals and institutional investors with unique needs. We combine strong asset allocation skills and experience managing a wide network of clients to construct and deliver customized investment solutions formulated to address clients’ unique goals and constraints. FSA employs an open architecture platform to execute asset allocation solutions and provide clients access to a wide range of investment opportunities including global equity, opportunistic fixed income, commodities, real assets and alternative asset classes. FSA also provides managed separate accounts with in-house equity management and taxable and tax-exempt fixed income management. By combining our in-house resources with open architecture solutions, we seek to optimize our portfolio management services for our clients. Account Establishment and Review Prior to becoming a client, you will meet with a Financial Adviser to review your financial goals, risk tolerance and circumstances to determine whether FSA’s advisory program can meet your investment needs. To obtain our investment management services, you will be required to enter into a formal written investment management agreement (Agreement) with FSA that establishes our investment advisory relationship with you as a client and describes the

scope of our responsibilities to your account(s) as well as the fees for those services. The Agreement will also describe the process and circumstances under which this relationship may be terminated, ending FSA’s fiduciary obligations to you as your investment advisor. This Agreement is only valid upon acceptance by FSA. Initially, your Financial Adviser will gather from you important financial and personal information that they will use in determining their best advice regarding how to manage your account(s) according to your wealth management needs. On an ongoing basis, your Financial Adviser will be available to answer questions regarding the investment management of your account. In addition, on at least an annual basis, you will have the opportunity to meet with your Financial Adviser to review your accounts and financial goals. In the interim, it is important to promptly notify FSA if there is any change in your financial circumstances, investment objectives, or you wish to modify any restrictions on your account(s). This will allow FSA the opportunity to evaluate and revise, if necessary, our previous recommendations to ensure they are in line with your financial goals as they evolve. In performing its services, FSA shall not be required to verify any information received from you or from your other designated professional advisers and is expressly authorized to rely on the information provided. Periodically, FSA will send you communications about your account. It is important that you read and review any such communications from our Firm, which could include notices, performance reports, trade confirmations and account statements, to ensure you are informed of any important changes to your account or our business. We also encourage you to compare any account statements you receive from FSA with those you receive from your custodian. You are encouraged to reach out to your Financial Adviser with any questions regarding the communications you receive from FSA. Investment Restrictions The client may impose reasonable security restrictions on FSA’s investment management services. Instructions requesting security restrictions must be delivered to FSA in writing and be signed by the client. However, FSA does reserve the right to decline investment restrictions that we deem unreasonable. Examples of unreasonable restrictions could be restrictions imposed on individual holdings within an Exchange Traded Fund (ETF) or mutual fund. It is also important to understand that restrictions can cause your account performance to vary from other accounts invested in a similar strategy that do not have such investment restrictions. AUM FSA is the investment adviser for Franklin Street Trust Company (FST), an affiliated North Carolina chartered trust company, also acquired on November 1, 2018, by Fifth Third Acquisition Holdings, LLC. The combined assets of FSA and FST under management were approximately $3,465,042,044 billion as of December 31, 2023.