SUMMIT STREET CAPITAL MANAGEMENT, LLC

Summit Street Capital Management, LLC is a registered investment advisor that believes it is financially sound and well capitalized. They do not require prepayment of fees and have not been subject to bankruptcy proceedings. They provide investors with quarterly statements detailing account holdings and activity for Subadvisor and SMA Accounts. Additionally, each Partner receives a copy of the Fund's audited financial statements and tax reporting information annually. Summit Street does not have any third party referral or solicitor agreements. They provide investors with a year-end letter that includes commentary, investment and organizational updates, and performance information. They will also provide additional information as requested by investors, provided that such requests are deemed reasonable in content and scope.

Summit Street's investment strategy is based on a fundamental, research-driven security selection process. They focus on identifying companies with strong fundamentals, such as a strong balance sheet, high sustainable returns on capital, a history of successful capital allocation, an absence of barriers to value realization, and a reasonable valuation relative to sustainable earnings and/or intrinsic value. They generally hold long positions in these companies and also invest in cash instruments. Summit Street employs a quality-oriented, value-based investment strategy that emphasizes the relationship between a company's long-term sustainable financial returns and its intrinsic value. They believe that portfolios of high-return businesses, whose securities are purchased at a discount to their intrinsic value, generate higher absolute rates of appreciation. They focus exclusively on companies with high returns on invested capital, are well-capitalized, and are undervalued based on normalized and sustainable operating earnings.

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