Footnote

1 The composite includes all taxable and tax-exempt, fully discretionary accounts with growth equity investment objectives and assets greater than $500,000. As of 12/31/2019, the composite is comprised of one account totaling $33.8 million, representing 58.1% of total assets under management. Net returns are net of Cadinha & Co., LLC advisory fees, brokerage commissions, and wrap fees, where applicable. Returns are inclusive of dividends and other earnings. Returns may differ from other accounts managed by Cadinha & Co., LLC due to different objectives, guidelines, and restrictions. Past performance is no guarantee of future results. Leverage has not been used. All performance is expressed using USD.

2 Cadinha & Co., LLC “Cadinha” is an SEC-registered investment adviser, which began managing assets on December 1, 1990. The GIPS firm definition includes Cadinha & Co. Institutional Services, “Cadinha Institutional,” which is held out to the public as a separate and distinct business unit. No other division of the firm claims compliance with the GIPS standards. Cadinha & Co. Institutional Services claims compliance with the Global Investment Performance Standards (GIPS®). Cadinha & Co. Institutional Services has been independently verified through 12/31/2018. The verification is available upon request at institutional@cadinha.com.

3 All Risk/Return metrics are calculated based on gross returns from 12/31/09 as of 12/31/19 and may change over time. Beta and Alpha calculations are vs. the S&P 500/Citigroup Growth Index benchmark. All material presented is compiled from sources believed to be reliable and current, but accuracy can not be guaranteed.

4 The information about a representative account is for illustrative purposes only. Actual account holdings, performance and other data will vary depending on the size of an account, cash flows within an account, and restrictions on an account. Holdings are subject to change daily. The information in this profile is not a recommendation to buy, hold or sell securities. Actual portfolio statistics may vary from target portfolio characteristics. The investment manager may use the same or substantially similar investment strategies, and may hold similar portfolios of investments, in other portfolios or products it manages (including mutual funds). The portfolio may, at times, invest in exchange-traded funds (ETFs), which are a form of equity security in seeking to maintain continued full exposure to the broad equity market.

5 A compliant presentation and/or the firm’s list of composite descriptions is available upon request at institutional@cadinha.com.