(A) Operational and Organizational Information: Golden Bay Advisors LLC (“Golden Bay” or the “Firm”) is a limited liability company formed under the laws of the state of Delaware. As stated on the cover page of this Brochure, registration as an investment adviser does not imply a level of skill or training. The Firm was organized in May of 2013. The principal owner of the Firm is Matthew Krusko. Types of Advisory Services Offered: The Firm provides portfolio management for separately managed accounts and retirement plans, and financial planning services. The Firm does not hold itself out as specializing in a particular type of advisory service. Please review the Firm’s investment guidelines, specified below under “Client Investment Guidelines and Parameters.” (B) Client Investment Guidelines and Parameters: Advisory services include among other things, providing advice regarding asset allocation and the selection of investments. Decisions relating to investment advice are based on an analysis of the merits of the investment involved and on the investment guidelines and restrictions of the Client. Note: For purposes of the Brochure, “Client” refers to separately managed account clients. The Firm provides discretionary investment advisory services to all fee paying Client accounts. Lower fees for comparable services may be available from other sources. The following is a general description of the principal types of trades and/or investments which the Firm currently contemplates engaging in, certain techniques that it may employ, the investment criteria that it plans to apply, and the guidelines that it has established regarding the composition of its investment portfolios. The following description is merely a summary and you should not assume that any descriptions of specific activities are intended in any way to limit the types of investment activities the Firm may undertake. The Firm primarily focuses its investment strategy on exchange-traded funds (“ETFs”), and also utilizes individual stocks, open-end mutual funds and other investments. The securities acquired by the Firm may include a wide variety of equity and debt obligations including, but not limited to, securities of foreign issuers, currencies, commodities, foreign exchange, real estate-related securities, and derivatives. The Firm does not currently intend to take positions in commodity

futures, non-security-based swaps or other items regulated by the Commodity Futures Trading Commission (the “CFTC”), but does utilize options and other derivative instruments. The Firm assists Clients in determining their investment objectives and needs, and each account is managed in accordance with those objectives and needs. In analyzing each Client’s objectives, the Firm considers, where applicable, the Client’s overall financial condition, income and tax status, personal and business assets, insurance, risk profile and other factors unique to each Client’s particular circumstances. An analysis of a Client might include a review of legal documents, portfolio size, expected inflow and outflow of assets, and, in the case of employee benefit accounts, the type of plan, plan provision, number of participants and age distribution. The Firm strives to obtain a full, clear and complete understanding of each such Client’s current financial situation, financial holdings, investment objectives, risk tolerance, and investment needs and desires. The Client is responsible for the accuracy and adequacy of information, records, and data provided to the Firm. In connection with managing the investments of Clients, the applicable investment management agreements provide investment guidelines and parameters that provide the context within which the Firm renders its investment management services. Wrap Fee Programs: The Firm acts as portfolio manager for and sponsor of a wrap fee program, which is an investment program where the client pays one stated fee that includes management fees, transaction costs, and certain other administrative fees. However, this brochure describes the Firm’s non-wrap fee advisory services; clients utilizing the Firm’s wrap fee portfolio management should see the Firm’s separate Wrap Fee Program Brochure. The Firm manages the investments in the wrap fee program, but does not manage those wrap fee accounts any differently than it would manage non-wrap fee accounts. The Firm receives the advisory fee set forth in Item 5 below as a management fee under the wrap fee program. Please also see Item 5 and Item 12 of this brochure. (B) Client Assets Under Management: (rounded to the nearest $100,000) As of December 2023, The Firm has the following assets under management: Discretionary: $ $140,093,577 Non-discretionary: $ 0