FARLEY CAPITAL L.P.

Farley Capital's advisory business includes offering advisory services, and if they specialize in a particular type of advisory service, they explain the nature of that service in greater detail. If they provide investment advice only with respect to limited types of investments, they explain the type of investment advice they offer and disclose that their advice is limited to those types of investments. They also describe any differences in how they manage wrap fee accounts versus other accounts if they participate in wrap fee programs, and explain that they receive a portion of the wrap fee for their services. As of December 31, 2024, Farley Capital has approximately $231,023,251 of regulatory assets under management, all of which are managed on a discretionary basis. They also describe how they are compensated for their advisory services, provide their fee schedule, and disclose whether the fees are negotiable. The Advisory Clients have broad and flexible investment authority and may have other strategies or engage in other activities than those described.

Farley Capital's investment strategy is rooted in a fundamental, research-intensive security selection process. While macroeconomic conditions are monitored, the firm believes that the analysis and selection of individual securities is the most important factor for achieving strong investment results. This process begins with a thorough analysis of a company’s financial statements, followed by meetings with the management of the prospective company and field research, including interviews with customers, suppliers, and competitors. Advisory Clients have broad and flexible investment authority and may use other strategies or activities beyond those described. Investing in the Funds is designed for experienced and sophisticated persons who can handle the risk of substantial or total loss of their investment. Investors should refer to the relevant Fund’s Offering Documents for a complete understanding of the Fund’s investment objective and strategy, as the information provided is a summary.

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