A. Ownership/Adviser History Our History Azzad Asset Management, Inc. (“Azzad”, “we” or the “firm”) has specialized in socially responsible Islamic investing since our founding in 1997. Based in Northern Virginia, we have earned a reputation for our ethical investment philosophy and our active equity strategies. Azzad was formed as a Delaware corporation in 1997 and subsequently registered as an investment adviser with the Securities and Exchange Commission on August 21, 2000. Our Principles We believe that sustainable companies operating responsibly and in ethical lines of business offer the best opportunities for shareholder returns. We believe that such companies offer relatively less business risk and are in a better position to thrive. We integrate our socially responsible Islamic investment philosophy with our disciplined investment process to build portfolios that are in line with our core values. Our People Azzad’s models, asset allocation strategies and managers are overseen by an Investment Committee (the “Committee”) that meets regularly. The Committee reviews, analyzes and discusses the various forces and factors that affect the financial markets and, in turn, the portfolios we manage and oversee. The Committee’s review includes (but is not restricted to) macroeconomic trends, risk/reward profiles for various markets, strategy allocations, portfolio characteristics, and performance. The Investment Committee is assisted by Azzad’s independent investment consulting firm. Bashar Qasem, President & Senior Investment Adviser Representative Mr. Qasem is the founder of our firm, the principal owner, the Chief Executive Officer and Senior Investment Adviser Representative. Mr. Qasem has extensive experience in the financial investment world, particularly in Islamic finance, having spent over 25 years managing Azzad Asset Management, Inc. and serving as Chairman of the Azzad Funds since their inception. He holds Bachelor of Science degrees in electrical engineering, and previously held securities licenses 6, 63, & 26. He currently holds FINRA Series 65. He also earned the designation of Certified Shari’ah Auditor & Adviser (C.S.A.A.) from Accounting and Auditing Organization of Islamic Financial Institutions (AAOIFI) in 2009. Azzad Asset Management, Inc. Page 6 Part 2A – 3/25/2024 B. Advisory Services Offered Azzad offers the following services to its clients: Ethical Wrap Program We manage client accounts through a wrap program called the Azzad Ethical Wrap Program (“Ethical Wrap Program” or “Program”) that we also sponsor. Prior to enrolling in the Ethical Wrap Program, the client must execute a written Investment Advisory Agreement with Azzad that defines the terms and conditions of a client participating in the Program. For a predetermined “wrap” fee (based on a percentage of assets under management), the Program offers investment management services (i.e., investment advisory, brokerage, custody) and financial planning. The client will have access to an Azzad Investment Adviser Representative (“IAR”) whose fiduciary duty is to assist in the overall management of the client’s account(s). The client’s IAR will assist in determining his or her investor profile (this includes identifying their goals, objectives, risk tolerance, and liquidity needs) and then selecting an appropriate asset allocation strategy. The IAR is available for direct telephone conversations with clients at their request, and at least once a quarter. Specific services or features offered in the Ethical Wrap Program include an assessment of client investment needs and objectives, account rebalancing, and continuing evaluation of investment performance. Depending on market conditions, our views on the markets, and other factors, an asset allocation model may change. Changes in our asset allocation models are conducted without consulting our clients. Clients must notify their IAR of any changes to their financial situation. Such changes may affect a client’s investor profile, which may necessitate a change in the strategy assigned. For example, if a client anticipates retiring earlier than previously stated, he or she will want to share that information with his or her advisor. An IAR may recommend changing a strategy to reduce risk level (conversely, there may be other life situations where an advisor may recommend increasing a client’s risk level to meet investment goals). Under the Program, clients have access to a broad range of financial planning services which may include tax-related and other non-investment related matters. The services provided by Azzad may include developing a financial plan, tax planning, retirement planning, estate planning, education planning, insurance planning and charitable planning. To perform its services, Azzad is not required to verify any information received from the client or from the client’s other professionals (e.g., attorney, accountant, etc.) and is expressly authorized to rely on information provided by the client. Azzad does not serve as a law firm, accounting firm, charity administrator or insurance agency, and no portion of Azzad’s services should be construed as legal, accounting, charitable administrator, or insurance implementation services. Accordingly, Azzad does not prepare estate planning documents, tax returns, or sell insurance products. To the extent requested by a client, Azzad may recommend the services of other professionals for certain non-investment implementation purposes (i.e., attorneys, accountants, insurance agents, charity administrators, Azzad Asset Management, Inc. Page 7 Part 2A – 3/25/2024 etc.). Clients are under no obligation to engage in the services of any such recommended professional. The client retains absolute discretion over all such implementation decisions and is free to accept or reject any recommendation made by Azzad or its representatives. However, if the client engages any unaffiliated recommended professional, and a dispute arises thereafter relative to such engagement, the client agrees to seek recourse exclusively from and against the engaged professional. Depending on the

allocation chosen, client assets will be allocated among various portfolios consisting of individual securities that comply with our investment philosophy. Each portfolio is managed by independent and affiliated portfolio managers. In addition, assets may be allocated into the Azzad Funds, for which Azzad Asset Management serves as investment adviser. Clients are not charged a wrap program fee on assets that are invested in the Azzad Funds. Independent managers are compensated a portion of the wrap fee pursuant to an agreement. We conduct ongoing monitoring, due diligence, and continuing evaluation of investment performance for each of our independent portfolio managers to ensure that they are a right fit for our Program. All wrap accounts are maintained by a qualified and unaffiliated custodian and broker-dealer that provides custodial, clearing and brokerage duties. We generally recommend that clients utilize the custody, brokerage and clearing services of Goldman Sachs & Company, Charles Schwab & Co., Inc., or Fidelity Brokerage Services, LLC, members FINRA/SIPC. We do not have physical custody of client assets. Custodial, brokerage and clearing services are included in your wrap fee. Prior to becoming a client with our firm, clients must execute a written agreement with Azzad which defines the terms and conditions of the program. Clients also must execute a separate custodial/clearing/brokerage agreement with the custodian. Advisory Services to the Azzad Funds We provide investment management services as an adviser under an advisory agreement to the following portfolios registered under the Investment Company Act of 1940: Azzad Ethical Fund (ADJEX) and Azzad Wise Capital Fund (WISEX) (collectively, the “Funds”). These no-load mutual funds are affiliated with Azzad, and their fees are based on assets under management. The Funds are available through prospectus only; a prospectus is available free of charge by calling the Funds’ transfer agent at 888-350-3369 or online at https://azzadasset.com/azzad- funds/. Under the terms of the investment advisory agreement with the Funds, Azzad is responsible for formulating the Funds’ investment program. ADDITIONAL DISCLOSURES Retirement Plan Rollovers – No Obligation/Potential for Conflict of Interest: A client or prospective client leaving an employer typically has four options regarding an existing retirement Azzad Asset Management, Inc. Page 8 Part 2A – 3/25/2024 plan (and may engage in a combination of these options): (i) leave the money in the former employer’s plan, if permitted, (ii) roll over the assets to the new employer’s plan, if one is available and rollovers are permitted, (iii) roll over to an Individual Retirement Account (“IRA”), or (iv) cash out the account value (which could, depending upon the client’s age, result in adverse tax consequences). If Azzad recommends that a client roll over their retirement plan assets into an account to be managed by Azzad, such a recommendation creates a conflict of interest if Azzad will earn an advisory fee on the rolled over assets. No client is under any obligation to roll over retirement plan assets to an account managed by Azzad. Azzad complies with the conflict mitigation provision by waiving program fees invested in the Azzad Mutual Funds. C. Tailored Services All Ethical Wrap Program and Financial Planning Services are individualized or tailored to each client’s needs, goals, risk appetite, and objectives. Clients complete a risk assessment questionnaire, financial planning questionnaire and/or interview used to create an Investment Policy Statement tailored to meet client’s current situation. Clients may impose reasonable trade restrictions, subject to approval by the Firm. However, if the restrictions prevent Azzad or its representatives from properly servicing the account, or if the restrictions require Azzad to deviate from its standard services, Azzad reserves the right to terminate the relationship. Additionally, at your request, Azzad will remove the Azzad Funds from your Ethical Wrap Program account. Clients are advised that it remains their responsibility to promptly notify Azzad if there is ever any change in their financial situation, investment objectives, or if they wish to impose reasonable restrictions for the purpose of reviewing, evaluating, or revising Azzad’s previous recommendations and/or services. In performing its services, Azzad shall not be required to verify any information received from the client or from the client’s other professionals and is expressly authorized to rely thereon. D. Wrap Program Azzad sponsors the Ethical Wrap Program that is described in Item 4.B, above. Additional information about the Ethical Wrap Program can be found in Part 2A, Appendix 1 (the “Wrap Fee Program Brochure”), which can be requested free of charge by calling 888.862.9923. Azzad does not manage wrap accounts in a different fashion than non-wrap accounts. We manage all our accounts according with our socially responsible Islamic investment philosophy. As further described in the Wrap Fee Program Brochure, Azzad receives a portion of the wrap fee for its services. Azzad Asset Management, Inc. Page 9 Part 2A – 3/25/2024 E. Clients Assets Managed As of March 24, 2024, the Firm manages approximately $1,484,555,612 in discretionary assets and approximately $7,862,398 in nondiscretionary assets. F. Administrative Services Provided by Orion Advisor Services, LLC. Azzad has contracted with Orion Advisor Services, LLC (referred to as “Orion”) to utilize its technology platforms to support data reconciliation, performance reporting, payable reports, models, trading platforms, and other functions related to the administrative tasks of managing client accounts. Due to this arrangement, Orion will have access to client accounts, but Orion will not serve as an investment advisor to Azzad clients. Azzad and Orion are non-affiliated companies.