History, Principal Owners, Assets under Management Dorchester is part of the Focus Financial Partners, LLC (“Focus LLC”) partnership. Specifically, Dorchester is a wholly-owned indirect subsidiary of Focus LLC. Ferdinand FFP Acquisition, LLC is the sole managing member of Focus LLC. Ultimate governance of Focus LLC is conducted through the board of directors at Ferdinand FFP Ultimate Holdings, LP. Focus LLC is majority-owned, indirectly and collectively, by investment vehicles affiliated with Clayton, Dubilier & Rice, LLC (“CD&R”). Investment vehicles affiliated with Stone Point Capital LLC (“Stone Point”) are indirect owners of Focus LLC. Because Dorchester is an indirect, wholly-owned subsidiary of Focus LLC, CD&R and Stone Point investment vehicles are indirect owners of Dorchester. Focus LLC also owns other registered investment advisers, broker-dealers, pension consultants, insurance firms, business managers and other firms (the “Focus Partners”), most of which provide wealth management, benefit consulting and investment consulting services to individuals, families, employers, and institutions. Some Focus Partners also manage or advise limited partnerships, private funds, or investment companies as disclosed on their respective Form ADVs. Pursuant to a Management Agreement between Dorchester, Focus and DWM Partners Inc. (the “Management Company”), the Management Company has agreed to provide persons to serve as officers of Dorchester, who, in such capacity, will be responsible for the management, supervision and oversight of Dorchester. The primary members of the Management Company include Robert Bard, President and Director; Isabella H. Wehrli, Director, Secretary and Chief Compliance Officer; A. Bruce Gill, Director; Brian T. Howard, Director; David V. Sheridan, Director; Eric Gibouleau, Director. Dorchester is registered with l'Autorité des marchés financiers du Québec, the Alberta Securities Commission, the Ontario Securities Commission, the British Columbia Securities Commission, the Manitoba Securities Commission, the New Brunswick Securities Commission, the Nova Scotia Securities Commission, and the Securities and Exchange Commission in the United States. As of March 12, 2024 the combined amount of client investments managed by us on a discretionary basis was just over 1.3 billion in US dollars. Dorchester does not act as a broker, custodian, issuer or underwriter of securities. Dorchester’s primary objective is to provide customized investment management services to high-net-worth individuals, investment holding companies, trusts, estates and registered retirement funds in separately managed accounts. Services include investment management, asset allocation, security selection and discretionary trading of equities, fixed income and other instruments and active portfolio management review. Dorchester works with each client to establish an appropriate investment policy based on the client’s objectives, circumstances, time horizon and risk tolerance. Tailored Investment Advice At Dorchester, we believe that understanding, objectivity and availability are the essential keys to delivering the highest quality personalized service. Understanding investment objectives and client requirements is perhaps the most important component of personal service within the investment counselling business. We recognize that each client has different investment objectives and requirements based on their own personal attitudes and preferences towards risk, liquidity, tax issues, and performance expectations. We take the time to listen and understand these personal goals and requirements before developing an appropriate investment policy. Clients, at any time, may impose restrictions on investing in certain securities or types of securities. We offer wealth management and portfolio management services to clients. As an independent investment adviser, Dorchester’s reputation has been built on its ability to provide objective investment counsel. A customized portfolio management strategy is developed through an objective and complete understanding of each client’s personal goals and requirements. Each client is different, and we need to listen intently and objectively to both our clients’ needs and wants before we can implement a strategy that suits their personalities and meets their long-term objectives. Among the portfolio management services we offer are an Enhanced Equity Strategy through a sub-advisory arrangement with Quadrant Private Wealth Management, LLC, a Focus partner firm under common control with Dorchester. Dorchester's partners and portfolio managers take pride in making themselves (the decision makers) available to our clients. Whether it be in a thorough scheduled quarterly review, or a quick phone call to discuss any issue of importance, we are always available to discuss any aspects of the portfolio. We are and throughout our long history have been a client centric firm. Investment Management Services to IRAs Dorchester is a fiduciary under the Internal Revenue Code (the “IRC”) with respect to investment management services and investment advice provided to IRAs and IRA owners (collectively, “Retirement Account Clients”). As such, Dorchester is subject to specific duties and obligations that include, among other things, prohibited transaction rules which are intended to prohibit fiduciaries from acting on conflicts of

interest. When a fiduciary gives advice in which it has a conflict of interest, the fiduciary must either avoid or eliminate the conflict or rely upon a prohibited transaction exemption (a “PTE”). A conflict of interest arises, and the prohibited transaction rules are implicated when Dorchester recommends that an IRA owner transfer his IRA to an IRA that Dorchester advises because Dorchester will receive compensation that it would not have received absent the recommendation – i.e., the IRA advisory fee. When Dorchester engages in this transaction, it relies on the PTE known as the Best Interest Contract Exemption or BICE which requires compliance with the “impartial conduct standards.” The impartial conduct standards are designed to mitigate conflicts of interest by requiring that investment advice be in the “best interest” of the Retirement Account Client, that advisers not make any materially misleading statements and not charge a fee that exceeds a reasonable amount. The best interest standard requires that advisers act with the care, skill, prudence and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use, based on the investment objectives, risk tolerance, financial circumstances and needs of the Retirement Account Client. This mirrors the prudent man standard of conduct and duty of loyalty found in ERISA. As a fiduciary, we have duties of care and of loyalty to clients and are subject to obligations imposed on us by the federal and state securities laws. As a result, clients have certain rights that clients cannot waive or limit by contract. Nothing in our agreement with clients should be interpreted as a limitation of our obligations under the federal and state securities laws or as a waiver of any unwaivable rights clients possess. 5. FEES & COMPENSATION Investment Management Fees Fees charged by Dorchester are outlined in the client’s written Investment Management Agreement. Fees are negotiable and will differ amongst clients based on a number of factors, including, but not limited to portfolio size, amount of assets held in related accounts, and investment policy. Fees are billed quarterly in arrears, based on the market value of your assets under our management (including cash and equivalent and accrued but unpaid interest, accrued dividends, and securities purchased on margin). For certain clients, we charge an advisory fee for services provided to the held-away accounts mentioned above in Item 4, just as we do with client accounts held at our primary custodians(s). The specific fee schedule charged by us is provided in the client’s investment advisory agreement with us. Clients may elect to be invoiced directly or can authorize Dorchester to debit fees directly from their managed account. Accounts initiated or terminated during a calendar quarter will be charged a prorated fee. Fees vary and are usually at or lower than 1.25%. In certain circumstances, fees may be waived. Once a fee schedule has been signed by a client, it cannot be changed without prior written notice to the client. Dorchester’s fees are exclusive of brokerage commissions, transaction fees, and other related costs and expenses which shall be incurred by the client. Clients may incur certain charges imposed by custodians or brokers such as wire transfer fees and other fees and taxes on brokerage accounts and securities transactions. Mutual funds (that may have been transferred in and maintained within the portfolio) and exchange traded funds also charge internal management fees, which are disclosed in the respective fund’s Trust Agreement. Such charges, fees, and commissions are exclusive of and in addition to Dorchester’s investment management fees. Dorchester does not accept typical mutual fund remuneration such as sales charges (whether front load or DSCs) or trailer fees. Upon termination of management services, any partial period unbilled will be charged (note: all fees are in arrears rather than in advance). Custodian Fees Dorchester does not hold cash or securities on behalf of its clients. Securities and cash are held at a custodial agent, usually a major trust company, bank or broker. Depending on the client’s custodian and its services, a custody fee may be charged by the custodian. Dorchester does not receive any part of the custodian fees. Brokerage & Transaction Costs In the course of managing portfolios, Dorchester will place orders to buy and sell securities with investment dealers involving brokerage costs or commissions to the client. In deciding where to place these orders, Dorchester will take into consideration the cost to the client of executing the trade and the broker’s ability to execute the trade in a timely manner at the best price. Dorchester is not affiliated with any such investment dealer/broker and all transactions are conducted at arm’s length. In connection with client accounts held at custodians, a client may incur custodian fees and/or transaction charges, wire transfer and electronic fund fees plus applicable taxes. Such charges are exclusive of and in addition to the Dorchester fees and Dorchester will not receive any portion of these costs. 6. PERFORMANCE-BASED FEES Dorchester does not charge any performance-based fees (fees based on a share of capital gains on or capital appreciation of the assets of a client).