Firm Description Cottage Street Advisors, LLC (CSA or the Firm) is an investment adviser providing investment management and financial planning services to individuals, high-net-worth individuals, trust assets, charitable trusts and estates. CSA was founded in 2014. Principal Owners CSA is primarily owned by Michael K. Davis. Jason B. Haviland has a minority interest in the Firm. Types of Advisory Services CSA offers discretionary investment management and financial planning services to individuals, businesses and institutions. Investment Management and Financial Planning Services CSA continuously advises clients regarding investing their funds to meet their individual goals. During detailed personal discussions, CSA helps clients identify and establish their investing goals and objectives based on their current financial situation, risk tolerance, personal goals and objectives and time horizon. These meetings may also include but are not limited to a review of additional financial information; sources of income, assets owned, existing insurance, liabilities, wills, trusts, business agreements, tax returns, investments, and personal and family obligations. CSA may also review cash management, risk management, insurance, education funding, goal setting, retirement planning, estate and charitable giving planning, tax planning, and capital needs planning. Once detailed client information is gathered, CSA develops and creates a client’s personal investment plan reflecting the client’s goals and objectives. CSA manages advisory accounts on a discretionary basis. The client’s personal investment plan guides CSA’s account supervision (e.g., maximum capital appreciation, growth, income, growth and income, etc.). CSA manages client assets using some or all of the following: individual stocks and bonds, exchange traded funds (“ETFs”), short-term financial instruments, master limited partnerships, and other investment products. To a lesser extent, client funds are invested in actively managed mutual funds. For some clients, option strategies (typically “covered call” writing), are employed to reduce risk and enhance income. Consulting Services In special circumstances, a client may need advice that is beyond the Investment Management and Financial Planning services described above. An example of this kind of extraordinary advice may include the development of a strategy for the sale of a family business. Consulting may include advice on isolated area(s) of concern such as current cash-flow analysis, budgeting, estate planning, retirement planning, reviewing a client’s existing portfolio, investment policy review, or any other specific topic. Tailored Relationships CSA tailors investment management services to the individual risk preferences and financial objectives of the client.

CSA clients are allowed to impose restrictions and guardrails on the investments in their account. For example, a client may suggest a specific investment restriction (e.g., no investments in cigarette company stocks), or a more generalized investment restriction (e.g., no sale of a large inherited security without prior client approval). All limitations and restrictions placed on accounts must be presented to CSA in writing. Fiduciary Statement We are fiduciaries under the Investment Advisers Act of 1940 and when we provide investment advice to you regarding your retirement plan account or individual retirement account, we are also fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act, (“ERISA”) and/or the Internal Revenue Code, (“IRC”), as applicable, which are laws governing retirement accounts. We have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. We must take into consideration each client’s objectives and act in the best interests of the client. We are prohibited from engaging in any activity that is in conflict with the interests of the client. We have the following responsibilities when working with a client:
• To render impartial advice;
• To make appropriate recommendations based on the client’s needs, financial circumstances, and investment objectives;
• To exercise a high degree of care and diligence to ensure that information is presented in an accurate manner and not in a way to mislead;
• To have a reasonable basis, information, and understanding of the facts in order to provide appropriate recommendations and representations;
• Disclose any material conflict of interest in writing; and
• Treat clients fairly and equitably. Regulations prohibit us from:
• Employing any device, scheme, or artifice to defraud a client;
• Making any untrue statement of a material fact to a client or omitting to state a material fact when communicating with a client;
• Engaging in any act, practice, or course of business which operates or would operate as fraud or deceit upon a client; or
• Engaging in any manipulative act or practice with a client. We will act with competence, dignity, integrity, and in an ethical manner, when working with clients. We will use reasonable care and exercise independent professional judgement when conducting investment analysis, making investment recommendations, trading, promoting our services, and engaging in other professional activities. Wrap Fee Programs CSA does not refer clients to or sponsor wrap fee programs. Client Assets As of December 31, 2023, CSA manages approximately $237,945,313 in assets under management, all assets are managed on a discretionary basis.