A. Pin Oak Investment Advisors, Inc. (the “Company”) is an investment advisor headquartered in Houston, TX. It is a client-centered firm founded by Barrett Rouse, its principal owner, in 1989. B. Investment Management Services - The Company provides discretionary investment services to its clients based on the individual circumstances of each client. The Company also offers financial planning, alternative investments, advisory, and general consulting services. Investment solutions will include all or a subset of the following:
• Individual stocks
• Corporate bonds (investment grade and/or high yield)
• Municipal bonds
• Mutual Funds (open-ended, closed-end, exchange-traded, and/or interval)
• Registered Investment Companies
• Master Limited Partnerships
• United States Government Securities
• Private Placements and interests in limited partnerships
• Certificates of Deposit
• Cash and/or money market funds
• Options (occasional, limited use in unique circumstances)
• Foreign Securities The Company invests in other types of securities not listed above and often excludes certain securities or security types per client request, our view of the markets, or based on client’s individual situation, preferences, or eligibility. Financial Planning and Consulting - The Company offers financial planning and general consulting services on a fee for service basis as described below (see Item 5). These are normally included at no cost for investment advisory clients. Whether to offer services on such a basis and the associated costs are subjective and based upon complexity. The Company often makes referrals for services of other professionals like attorneys, accountants, insurance agents, lenders, bankers, etc. when warranted and does not accept compensation for such a referral. The client is not obligated to act upon a referral and has sole authority in all such third-party professional relationships. Clients are encouraged to investigate and determine on their own whether to accept any such recommendation. Private Funds - The Company serves as investment manager to and is a related entity to the general partner of several private funds and real estate funds (PF’s) that are pooled investment vehicles. Each is structured as a limited partnership domiciled in Texas or Delaware. Private funds are offered to suitable, eligible clients by means of private placement memoranda. PF investments are managed in accordance with

the investment objectives and policies set forth in their respective offering documents. Generally, the PF’s invest in real estate, private operating companies, public securities, and/or limited partnership interests as set forth in its offering documents to meet their stated objectives. The Company often recommends that a qualified client invest in a PF as a part of their investment portfolio. Such investments will only be made on a non- discretionary basis. Clients are not obligated to invest in private investments, nor are other services conditional upon their participation in such. It is anticipated that there will be occasions when co-investment opportunities will be available exclusively to limited partners of a respective associated fund. A comprehensive set of terms and conditions for investing in PF’s is described in the respective fund’s subscription documents and private placement memoranda, including the anticipated term of the investment, costs, and limitations on withdrawal of invested funds. Also disclosed therein are some of the risks involved in private investment funds. Among these risk factors are limited liquidity, decreased transparency versus public securities, potential “cash drag” of committed but uninvested funds, and a lack of daily pricing on the underlying investments. Thus, PF investments are not appropriate for all clients nor will all clients be eligible for an investment in a PF. Clients choosing to invest in PF’s must be willing to accept these factors. Managed Account Program - The company does not currently manage separately managed account programs (also known as “SMA” programs), but third party SMA’s are included as a part of some clients’ solution set. C. The Company tailors its investment advisory services to the needs of its clients. Before advising a client, an advisor representative will speak with the client to determine their needs, objectives and/or related circumstances before advising them in a manner consistent with that discovery. There is significant subjectivity employed by each advisor on behalf of clients in the tailoring of services and solutions based on conversations between the advisor and the client. The Company may exclude certain securities or types of securities per a client’s request. D. The Company does not participate in wrap fee programs. E. The Company has approximately $670,000,000 in assets under management on a discretionary basis and $0 in assets under management on a non-discretionary basis as of December 31, 2023.