Firm Description Astor Investment Management LLC (“Astor,” the “Firm,” “we” or “us”) specializes in providing proprietary tactical allocation strategies focused on macroeconomic analysis. Astor provides advisory services primarily to (1) separately managed accounts (“SMA”), (2) mutual funds, and (3) unified managed accounts (“UMA”). Astor’s portfolios are generally available as an SMA or UMA within wrap fee programs provided by a broker-dealer or investment adviser (“Sponsor Firm”). Astor was formally organized in 2013 in connection with a corporate restructuring of Astor Asset Management LLC which was founded in 2001. Astor’s principal owner is Lakewood Investment Management LLC and former CEO, Robert Stein, is the majority beneficial owner of that entity through his ownership of Astor Financial LLC. Astor Financial LLC is under separate management from Astor Investment Management LLC. The Astor Investment Committee Portfolio Managers responsible for making investment decisions are Bryan Novak, CEO, John Eckstein, CIO, and Nick Porter, VP. Astor’s investment philosophy revolves around identifying the current phase of the economic cycle through statistical analysis of a specific set of economic data deemed relevant to medium and long-term financial market performance by Astor’s Investment Committee. Astor maintains a disciplined process of identifying trends in the economy, market, and various assets or asset classes while continuously monitoring risk. Financial markets experience drawdowns from time-to-time due to market and economic factors. While static allocation strategies are bound by set mandates during all periods, tactical allocation strategies seek to provide investment flexibility in order to maneuver through these various periods. There are no assurances that movements or trends can or will be duplicated in the future. Types of Advisory Services Clients invest in one or more of Astor’s strategies listed in Item 8 of this Brochure. Generally, Astor acts as a third-party manager for investment advisory programs and does not have direct relationships with clients. In this structure it is the duty of the platform, Sponsor Firm or referring party to ensure Astor’s strategies are suitable for a client. It is the sole responsibility of such parties to review client objectives and communicate, to Astor, any change in account objectives or policies, as Astor relies on information to be provided since Astor does not have direct access to it. You should consult with your financial professional and carefully review this Brochure before selecting Astor. Astor is available to consult with you and your financial professional; however, the Sponsor Firm or primary adviser is solely responsible for communicating with you. Astor does not tailor its portfolios to individual clients outside of allowing reasonable restrictions as listed below. Astor only provides investment advice related to proprietary portfolios it offers and the securities held within them. Astor primarily invests in exchanged-traded funds (“ETFs”). Astor provides services to the following types of clients: Discretionary Accounts Astor provides advisory services to accounts where trading authority has been provided to Astor through an agreement signed by a client. The typical structure for these accounts is an SMA within a wrap fee program where Astor is a selection choice among a list of other investment managers (i.e., a “wrap account”). In this structure, you will have a single account that Astor invests into one of its strategies as selected by you. Such arrangements are provided by Sponsor Firms who are not affiliated with Astor. In these programs, the client typically pays a single bundled fee, called a “wrap fee,” to the Sponsor Firm to cover items such as transaction costs, custodial services, and Astor’s advisory services. In evaluating the wrap fee arrangement, you should recognize the brokerage commissions from transactions executed in your account through the Sponsor Firm will generally be covered by the wrap fee as determined by the 6 Astor Investment Management LLC – Form ADV Part 2 Sponsor Firm. Nevertheless, as described further under Items 5 and 12, we will execute transactions through brokers other than the Sponsor Firm, and when we do, you will incur additional transaction costs

not covered by the wrap fee including commissions or mark-ups/mark-downs. Astor receives a portion of the wrap fee for its advisory services provided to wrap fee program clients, as described further below under Item 5. Astor only manages wrap accounts. Model Delivery Arrangements Astor also provides its portfolios to unaffiliated parties and registered investment advisers who supply investment models from various investment managers like Astor to their clients through a formal platform. The difference in this setup is the organizing party typically takes on a larger share of the duties related to managing the account such as trading and fee billing while the investment manager is generally only responsible for providing current investment allocations for specific strategies. Astor does not receive client level information in the majority of these relationships and any client information which passes through to Astor is not used. Astor’s obligation in these relationships is to provide updated allocations, in a timely manner, for the strategy (or strategies) outlined in a written arrangement. While an account can be formatted as a SMA (i.e., the account will only contain one strategy of Astor’s) within these model delivery relationships, Astor does not have trading authority over these accounts as it does for the discretionary accounts described above. Another common account structure in model delivery arrangements is the UMA. The UMA structure has a single account subdivided into sections consisting of multiple strategies instead of a single strategy encompassing the entire account. The strategies will be a combination of Astor’s strategies and other investment managers’ strategies. Due to the structure, the implementation of Astor’s portfolios and the continual servicing of your account in these relationships are handled by the platform and/or adviser and not Astor. Affiliated Investment Companies Astor serves as the investment adviser to investment companies registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”) (together, the “Astor Funds”). You should refer to the Astor Funds’ prospectus and Statement of Additional Information (“SAI”) for important information regarding objectives, investments, risks, fees, and additional disclosures. These documents are available online at www.astorimfunds.com. Client Imposed Restrictions Where Astor has discretionary authority, you can request reasonable restrictions on the management of your account including restrictions that prevent Astor from investing in certain securities or types of securities as well as not selling securities currently held. You may not direct Astor to purchase specific securities or types of securities. A proposed restriction will be considered unreasonable if it is inconsistent with Astor’s stated investment objectives or inconsistent with the nature of the program. If a proposed restriction is determined to be unreasonable, Astor will request you modify or withdraw the restriction. Astor reserves the right to discontinue providing investment advisory services to your account if you are unwilling to change an unreasonable restriction. You should be aware any restrictions you place on the account will affect your account’s performance and can result in underperformance relative to other client accounts invested in the same strategy. You may be able to impose restrictions in arrangements where Astor does not maintain discretionary authority over your account, but you will need to check with your financial professional to determine how you can request such. Firm Assets As of February 29, 2024, Astor managed approximately $261,448,150 in discretionary client assets (“Assets Under Management” or “AUM”). As of February 29, 2024, Astor provided services for approximately $894,572,557 in assets in a “non- discretionary” capacity. These assets are generally referred to as “Assets Under Advisement” or “AUA” 7 Astor Investment Management LLC – Form ADV Part 2 and represent assets which Astor serves as a model portfolio provider as described in Item 4. Astor does not have discretion or trading authority over these assets.