MCM is a fee-only, SEC-registered investment adviser with its principal place of business located in Manchester, Vermont. We have been in business since 1993, with Edward Wright Cronin as the founder, majority owner, and Chairman of the Board of the firm. Discretionary assets under our firm’s management were $ 3,157,177,085 as of December 31, 2023. Non-discretionary assets under our firm’s management were $ 531,278,141 as of December 31, 2023. Our firm offers the following advisory services to our clients: Portfolio Management Services/ Family Office Services MCM provides services to certain individuals and families including investment advisory services and which may also include charitable foundation administration, philanthropic guidance, tax and estate strategies, alternative investments, tax-efficient monetization of concentrated stock positions, the management of business entities, including closely-held businesses, the hiring of outside consultants, including bookkeepers and bookkeeping services, attorneys, accountants, insurance advisors, family education advisors, and ad hoc concierge services that are typically requested by family offices. Our firm will also assist clients who fit our profile in the creation and design of a family office entity including ongoing management of that entity once it is created. MCM provides ongoing advice to a client regarding the investment of client assets based on the individual needs of the client. Through our client questionnaire and personal discussions, in which goals and objectives based on a client's circumstances are established, we develop a written Investment Plan for their approval which will guide the management of their portfolio. During our data-gathering process, we determine the client’s individual objectives, time horizons, risk tolerance, tax considerations, and liquidity needs. We may also review and discuss a client’s prior investment history, as well as family composition and background. Our services include providing a quarterly performance report and periodic meetings with clients to review portfolio performance and reconfirm their goals and objectives. We manage client portfolios on a discretionary basis, subject to any restrictions a client may impose such as tax considerations or avoiding investment in certain securities or industry sectors. We also provide portfolio consulting services, on a non-discretionary basis, whereby the client retains the ultimate responsibility and decision on any investment to be made regardless of our recommendation. Based on the asset allocation outlined in the Investment Plan, we may allocate the client’s assets among several third-party investment managers, which may include mutual funds, exchange-traded-funds (ETFs), separate account managers, hedge funds and other private managers. Client portfolio holdings may also include individual equities and bonds, option contracts, warrants, certificates of deposit and commercial paper. Portfolio weighting among third-party investment managers and other investments will be determined by each client’s asset allocation. As part of this service, we maintain a list of “approved” investment managers that have been vetted by our investment committee and are monitored on an ongoing basis (see Item 8 for further information on our due diligence process). If we determine at any point that a particular approved manager is not meeting our expectations, we may terminate the manager and reallocate the client’s assets at our discretion. As such, our firm requests that the client grant the firm the authority to hire and fire the investment managers on the client’s behalf and to move funds among them, as appropriate. At the client’s direction, we may invest in a manager that is not approved and has not gone through our due diligence process. We may recommend to clients investment in private placement offerings and/or limited investment partnerships, such as hedge funds and other pooled investment partnerships. Additional information about third-party fees related to such investments is included in the offering documents provided to prospective investors. Because these types of investments involve certain additional degrees of risk, they will only be recommended when consistent with the client’s stated investment objectives, tolerance for risk, liquidity, and suitability. In order to ensure that our initial determination of an appropriate portfolio continues to be suitable and that the client’s account continues to be managed in a manner suitable to the client’s

financial circumstances, we will maintain client suitability information in the client’s file. Periodically, we will notify clients in writing to request updated information regarding the client’s financial situation and investment objectives and whether the client wishes to impose or modify existing investment restrictions. In addition, we will contact clients at least annually to determine whether there have been any changes in the client’s financial situation and whether the client wishes to impose investment restrictions or modify existing restrictions. Investment management services are available upon request. Private Partnership Management MCM serves as investment manager and Managing General Partner of the following private limited partnerships (referred to below as the “Equinox Funds”) which have been designed to permit investors to access alternative investment strategies, primarily using third-party investment managers whose pooled investment vehicles might otherwise be unavailable to many investors due to high minimum investment requirements:
• Equinox Alternative Fund, LP
• Equinox Asia Overlook Fund, LP
• Equinox Conservative Fund, LP
• Equinox Multi-Strategy Fund, LP
• Equinox Private Equity Fund, LP
• Equinox Private Equity Fund II, LP
• Equinox Private Equity Fund III LP
• Equinox Venture Capital Fund, LP
• Equinox Venture Capital Fund II, LP
• Equinox Venture Capital Fund III, LP
• Equinox Venture Capital Fund IV, LP
• Equinox Venture Capital Fund V, LP
• Equinox Venture Capital Fund VI, LP
• Equinox Venture Capital Fund VII, LP MCM also serves as investment manager and Managing General Partner of the Equinox Water Fund, LP, which is a private limited partnership that invests in securities of companies that derive a significant portion of their revenues from the global water industry. Limited partnership interests in the Equinox Funds are offered in reliance upon various exemptions available under the securities laws for transactions in securities not involving a public offering. MCM manages the Equinox Funds on a discretionary basis in accordance with the terms and conditions of the Private Placement Memorandum and organizational documents specific to each Equinox Fund. Prospective investors in any Equinox Fund should be aware of additional risks, restrictions on withdrawals and redemptions, and other important information associated with an investment in any Equinox Fund. This information is outlined in the Private Placement Memorandum and subscription documents for each Equinox Fund. Prospective investors should refer to the appropriate Private Placement Memorandum and subscription documents for information regarding these important additional considerations. Except for the Private Equity and Venture Capital Funds which generally do not have liquidity, Limited Partners may generally withdraw from any of the Equinox Funds at the end of any fiscal quarter upon providing advance written notice which varies from 75 to 95 days, subject to any lockup provisions of that specific fund which may have withdrawal restrictions prior to the first or second anniversary of a partner’s capital contribution, may only allow withdrawals on the first day of either January or July or may impose an aggregate percentage limitation on a limited partner withdrawals at any one time. The General Partner may, at its sole discretion: (i) suspend or delay the right of any Partner to withdraw all or part of their Capital Account if, and to the extent that, the Equinox Fund is unable to withdraw its investment from any sub-fund or the Equinox Fund’s withdrawal rights are so suspended or delayed by any of the sub-funds in which the Equinox Fund’s assets attributable to such Capital Account are invested. Private Real Estate Services MCM offers private real estate services to clients which include the acquisition and management of specific commercial properties that a client chooses to own. As part of our services we direct all aspects of the management for each individual property including operations, development, financing, leasing and capital improvements. Consulting Services Services may include reviewing the responses to a client’s RFP for new managers for its pension plan, searching for an investment manager in a particular asset class, writing an investment policy statement for a fiduciary, or assisting the investment committee of an institution in analyzing the composition and performance of a particular portfolio.