A. Tufton Capital Management, LLC is an SEC-registered investment advisor providing investment management services to individuals, pension, and profit-sharing plans, 401(k) plans, trusts, estates, charitable organizations, and corporations. We are in Hunt Valley, MD and have continuously been in operation since November 1995. The firm is owned and operated by its employees. J. Scott Murphy, Eric Schopf and Charles Meyer are all equity partners. B. Tufton Capital Management provides clients with ongoing investment advisory service on a fee- only basis. Diversified client portfolios are primarily composed of three asset classes: Money market funds or other short-term investment vehicles; fixed income securities; and equity securities. Money market funds are utilized to provide liquidity and safety of principal. Fixed income instruments are held for income and stability. Equity investments are held to provide appreciation potential and generate a growing source of investment income. We conduct our own independent investment research and invest in individual publicly traded securities. Exchange traded funds and mutual funds may be used on occasion to gain exposure to specific sectors of the market. Options on equity securities may also be utilized as a sub- investment strategy when account circumstances warrant. We employ a value-oriented investment style utilizing a combination of growth and value stocks. Value stocks typically trade at low prices relative to anticipated earnings and have above average dividend yields. Growth stocks offer value when

purchased at prices that do not reflect future growth potential. Investments are made in companies with strong underlying fundamentals such as recognized trademarks, strong balance sheets, and profitability, but whose share price is temporarily depressed due to some solvable company problem, external factor, or other misunderstanding. We primarily invest in large, domestic companies. However, we also take positions in small and mid-size companies as well as companies headquartered abroad. Fixed income investments reflect our outlook for inflation and interest rates as well as underlying credit risk. C. Investment portfolios are tailored to the needs of the individual client. The portfolio manager collaborates closely with the client to draft an investment policy statement which sets the parameters for the investment portfolio. Among other factors, the statement incorporates investment return expectations, risk tolerance, time horizon, and income requirements in formulating an asset allocation framework. The investment policy statement will also include any restrictions regarding specific investments. For example, some clients may wish not to invest in the tobacco industry. The investment policy statement is a dynamic instrument and may be modified over time as client circumstances change. D. We do not place client assets in wrap fee programs. E. As of December 31, 2023, we manage the following assets: Discretionary Assets $727,529,000 Non-discretionary Assets $0 Total $727,529,000