Reports & Fees A concise, detailed report is sent to each client at the end of every quarter. This report shows the current value of the client’s account, current security positions, percentage and dollar change from the original cost of these positions, gains and losses taken during the quarter, and the performance record for the account while under the management of Prentiss Smith & Company. We want our clients to know exactly where they stand. Our quarterly reports also include a copy of the Strategy Update. This Update covers our thoughts on the economy and the financial markets. In past Strategy Updates we have outlined our thinking on interest rates, debt levels, inflation, investment manias, international economic trends, corporate governance, and energy policy. The Strategy Update also covers our future investment strategies which are based in part on our macroeconomic outlook. Security positions owned by our clients are reviewed on a continual basis. In addition, the asset allocation and performance of each account is reviewed regularly. Clients receive monthly statements from the brokerage firm or bank where their securities are held. We review for accuracy all trade confirmations and monthly statements received from our clients’ custodians.

Issues We Focus On When Making ESG Investment Decisions Our ESG investment research includes a detailed review of an institution’s environmental impact and initiatives, its products and services, its posture toward social and human rights issues, transparency, and governance. This research often includes direct conversations with the institution, which sometimes even provides an early opportunity to push for better policy positions. Human Rights & Well-Being We seek out investments that promote a shared baseline of human rights, fulfillment of basic needs, equal access to opportunity, and a diversity of perspectives. Environmental Stewardship Companies that target ambitious reductions in waste, water, or energy use, address air quality or deforestation in their supply chains, or use sustainable sourcing can make appealing investments. Transparency is a key first step.