The Capital Management Corporation (CMC) is an investment advisory firm headquartered in Glen Allen, Virginia. Founded in 1964 as a partnership, the firm took its present name as The Capital Management Corporation in December of 1976. CMC is a 100% employee-owned C corporation registered in Virginia. CMC provides investment management services for individuals and institutional accounts. It does not provide legal services, tax services, financial planning services or estate planning services. CMC’s investment management services focus on the use of common and preferred stocks, real estate investment trusts (REITs), fixed income securities, exchange-traded funds, and mutual funds. The firm does not use alternative investments, including hedge funds, private equity funds, and highly leveraged investments. CMC is a fiduciary for every managed account; meaning we must act in our client’s best interest. All account relationships managed by CMC are on a fully discretionary basis. This means that we have the authority to make investment purchases and sales on behalf of the client without prior client approval. Each client enters into an investment advisory agreement with CMC. This agreement outlines the scope of services provided. It can be cancelled at any time by either party, subject to a 30 day notice. In addition to the investment agreement, the client and CMC develop investment guidelines which outline the investment objectives of the account. These investment guidelines are periodically updated to reflect changes in the nature

of the account and the client’s personal financial situation. The client’s decision to retain CMC’s services (with respect to opening an account funded with assets of a client’s retirement account) is based on the client’s general knowledge obtained from educational materials, advice from the client’s personal tax professional, legal expert, and/or employer. All client assets are held at the client-designated custodian. Accounts are assessed an investment management fee based on the assets under management. CMC does not receive performance-based fees, and CMC does not take custody of client assets. CMC also provides non-discretionary services via certain model portfolios. Pursuant to an agreement, certain Model Program Sponsors receive CMC’s model securities portfolio for a specific strategy(ies) and execute their investor’s portfolio transactions based upon that model. Those sponsors are responsible for determining the suitability of the model for their clients, exercising their own investment discretion and judgement. CMC does not have contact with the underlying clients of the Model Program Sponsors. Investing entails different levels of risk depending on the type of investment. There is always the potential of an investment loss. We encourage clients to determine whether investing in the stock and bond markets is appropriate. As of May 31, 2023, our fiscal year-end, total firm-wide assets under management were approximately $564 million dollars. This includes all client relationships and any employee accounts.