Firm Description North Star Asset Management Inc. was founded in 1996. There are currently 18 employees including 9 Chartered Financial Analysts (CFA™), 2 Certified Public Accountants (CPA), 1 Certified Financial Planners (CFP®), and 7 administrative staff. The firm is federally registered with the Securities and Exchange Commission (SEC) as a Registered Investment Adviser. North Star Asset Management Inc. (NSAM) provides ongoing investment advice on a discretionary/non- discretionary basis to individual and institutional clients based on a thorough understanding of the clients’ financial situation, individual needs, and investment objectives. Type of Advisory Services NSAM offers advice on the following types of investments:
• Common Stocks
• Preferred Stocks
• Mutual Funds
• Exchange-Traded Funds
• United States Government Debt Securities
• Corporate Debt Securities
• Certificates of Deposit
• Municipal Bonds
• Money Market Funds
• Option Contracts Since client investment portfolios are generally managed on a discretionary basis, NSAM is authorized to select the type and amount of securities to be purchased and sold without client approval. NSAM’s discretionary authority regarding investments may be subject to certain limitations established by the client. Any such restrictions are to be agreed upon in advance with each client. In no case will we have authority to withdraw funds or to take possession of client funds or securities. NSAM does not participate in any wrap fee programs. Managed Assets At the end of our fiscal year (12/31/21), we managed a total of $2,688,828,790 in assets on a discretionary basis and $12,979,865 in assets on a non-discretionary basis. Principal Owners NSAM is entirely owned by its employees. There are no intermediate subsidiaries. Fees & Compensation Description: NSAM bases its fees on a percentage of assets under management. Fees are not based on the level of capital gains or capital appreciation. Fees may be subject

to negotiation based on account size, relationships, security holdings, and other factors. Fee Billing: Investment advisory services are provided under a written advisory agreement between NSAM and its clients. Management fees are charged at an annual rate of .60% of the market value of assets under management at the end of each quarter. Our fees are generally subject to an annual minimum of $6,000. You have the option of having your management fees deducted directly from your managed account/s or you may pay fees directly to NSAM upon being invoiced. Other Fees: If your portfolio includes holdings of mutual funds or exchange traded funds (ETF’s), you may be charged a fee by the fund company in addition to the management fee charged by NSAM. However, we generally invest in low-cost funds with no front-end sales charges. You may also incur charges such as brokerage, custodial, and other transaction fees. We will allocate transactions to firms based on our evaluation of its execution ability, level of commission rates and the quality of research services provided. Should you direct us to use a specific brokerage, it may eliminate our ability to negotiate a lower commission. See Directed Brokerage – Page 10 Prepayment/Termination: NSAM does not require prepayment of management fees. However, if requested, we will accept payment in advance. Prepaid fees will be reimbursed on a pro-rata basis should services be discontinued. NSAM reserves the right to terminate any investment management agreement where a client has willfully concealed or has refused to provide pertinent information about financial situations when necessary and appropriate. You may terminate our agreement at any time by providing written notice. Compensation for Sales of Investment Products: NSAM‘s compensation is solely from fees paid by clients. We do not receive commissions based on purchases of any financial products, including insurance. No commissions, in any form, are accepted. Performance-Based Fees & Side-by-Side Management Not Applicable