Connors Investor Services, Inc. (the “Registrant”) is a corporation formed in the State of Delaware. The Registrant is principally owned by the Connors, James M. Irrevocable Trust, which the Registrant’s President serves as co-trustee. B. As discussed below, the Registrant offers investment advisory services to its clients, (generally: individuals, high net worth individuals, pooled investment vehicles, pension and profit-sharing plans, trusts, estates, charitable organizations, investment partnerships, and business entities). The Registrant does not provide financial planning or related consulting services. As described in greater detail below, the Registrant is the investment adviser to various private investment funds. In this Brochure, we refer to clients who are individuals or institutions investing through managed accounts as clients and we refer to the pooled investment vehicles as the affiliated private funds. INVESTMENT MANAGEMENT SERVICES The Registrant provides investment management services on a discretionary basis. The Registrant’s annual investment advisory fee is based upon a percentage (%) of the market value of the assets placed under the Registrant’s management. Before engaging the Registrant to provide investment advisory services, clients are required to enter into an Investment Advisory Agreement with Registrant setting forth the terms and conditions of the engagement (including termination), describing the scope of the services to be provided, and the fee that is due from the client. To commence the investment advisory process, an investment adviser representative will first determine each client’s investment objectives and then allocate and/or recommend that the client allocate investment assets consistent with the designated investment objectives. Once allocated, the Registrant provides ongoing monitoring and review of account performance and asset allocation as compared to client investment objectives, and may periodically execute transactions for the account based upon such reviews. MISCELLANEOUS No Financial Planning or Non-Investment Consulting/Implementation Services. The Registrant does not provide financial planning and related consulting services regarding non-investment related matters, such as estate planning, tax planning, insurance, etc. Registrant does not serve as an attorney, accountant, or insurance agency, and no portion of its services should be construed as legal, accounting, or insurance brokerage services. Accordingly, Registrant does not prepare estate planning documents, tax returns or sell insurance products. To the extent requested by a client, Registrant may recommend the services of other professionals for certain non-investment implementation purpose (i.e. attorneys, accountants, insurance agents, etc.). Clients are reminded that they are under no obligation to engage 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 Registrant or its representatives. 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. Affiliated Mutual Fund. The Registrant is the investment adviser to the Connors Hedged Equity Fund, a diversified series of Connors Funds, an open-end, management investment company. If Connors or a client determine that the fund’s investment strategy is suitable for a client, the Registrant will recommend that clients invest in or use its discretion to invest in the Connors Hedged Equity Fund. Even though the Registrant operates the same or similar strategy employed by the Connors Hedged Equity Fund in a separately managed account strategy, the Registrant recommends the Connors Hedged Equity Fund over the separately managed account strategy forfor smaller client accounts. That is, given the nature and tupe of investments used to manage, and create diversification within, the strategy, certain clients may not be suitable for the separately managed account strategy participation. The Connors Hedged Equity Fund is designed to provide a similar investment opportunity for participants. Registrant favors the Connors Hedged Equity Fund over non-affiliated mutual funds, where suitable and appropriate for the client, and will generally not consider other unaffiliated mutual funds or ETFs for client accounts when recommending the underlying strategy. More information regarding the Connors Hedged Equity Fund, including its maximum expense ratio (currently 1.15%), may be found in the fund prospectus and offering documentation . The Registrant may invest up to 100% of a client’s assets managed by the Registrant in the fund. The Registrant addresses this conflict of interest by seeking to invest clients in the Connors Hedged Equity Fund only when it is appropriate for the client, disclosing it in this Brochure, and inviting clients and prospective clients toto review this investment with (i) their contact at the Registrant, or (ii) the Registrant’s Chief Compliance Officer, to restrict or place limitation on the Registrant’s ability to invest in the fund. Connors Hedged Equity Fund participants are not subject to a separate managed account fee with respect to share positions maintained in their managed account Affiliated Private Investment Funds. The Registrant is the General Partner of CIS Aggressive Growth Partners, CIS Balanced Investment Partners, CIS Balanced Investment Partners II, CIS Hedged Growth Partners, CIS Income & Growth Partners, CIS Index Overwrite Partners and CIS Microcap Growth Partners (collectively referred to as the “affiliated private funds”). The Registrant, on a non-discretionary basis, may recommend that qualified clients consider allocating a portion of their investment assets to the affiliated private funds. The terms and conditions for participation in the affiliated private funds, including management fees, conflicts of interest, and risk factors, are set forth in the fund’s offering documents. Registrant’s clients are under absolutely no obligation to consider or make an investment in any private investment fund. Affiliated Collective Investment Trust. The Registrant manages Employee Income Security Act of 1974, as amended, (“ERISA”) assets in the Connors Covered Call Fund (“CIT”). The CIT is bank maintained and not registered with the Securities and Exchange Commission. The CIT is not a mutual fund registered under the Investment Company Act of 1940, as amended (“1940 Act”) or other applicable law, and unit holders are not entitled to the protections of the 1940 Act. The regulations applicable to the CIT are different from those applicable to a mutual fund. The CIT’s units are not securities registered under the Securities Act of 1933, as amended or applicable securities laws of any state or other jurisdiction. Affiliated Private Investment Fund Risk Factors: Private investment funds generally involve various risk factors, including, but not limited to, potential for complete loss of principal, liquidity constraints and lack of transparency, a complete discussion of which is set forth in each fund’s offering documents, which will be provided to each client for review and consideration. Unlike liquid investments that a client may maintain, private investment funds do not provide daily liquidity or pricing. Each prospective client investor will be required to complete a Subscription Agreement, pursuant to which the client shall establish that he/she is qualified for investment in the fund, and acknowledges and accepts the various risk factors that are associated with such an investment. Conflict Of Interest. Because the Registrant earns compensation from the affiliated private funds that may exceed the fee that Registrant would earn under its standard asset based fee schedule referenced in Item 5 below, the recommendation that a client become an investor in the affiliated private funds presents a conflict of interest. No client is under any obligation to become an investor in the affiliated private funds. The Registrant’s Chief Compliance Officer, Debora M. Covell, remains available to address any questions regarding this conflict of interest. Affiliated Private Investment Fund Valuation. The current value of any affiliated private investment fund could be significantly more or less than the original purchase price or the price reflected in any supplemental account report. If an affiliated private investment fund has invested in a third-party fund, the investment manager of that fund is responsible for determining the value of interests in that fund. The Registrant will rely on values provided by the third-party fund’s manager. Unaffiliated Private Investment Funds. Registrant may also provide investment advice regarding unaffiliated private investment funds. Registrant, on a non-discretionary basis, may also recommend that certain qualified clients consider an investment in unaffiliated private investment funds. Registrant’s role relative to the private investment funds shall be limited to its initial and ongoing due diligence and investment monitoring services. Registrant’s clients are under absolutely no obligation to consider or make an investment in a private investment fund(s). Unaffiliated Private Investment Fund Risk Factors: Private investment funds generally involve various risk factors, including, but not limited to, potential for complete loss of principal, liquidity constraints and lack of transparency, a complete discussion of which is set forth in each fund’s offering documents, which will be provided to each client for review and consideration. Unlike liquid investments that a client may own, private investment funds do not provide daily liquidity or pricing. Each prospective client investor will be required to complete a Subscription Agreement, pursuant to which the client shall establish that he/she is qualified for investment in the fund, and acknowledges and accepts the various risk factors that are associated with such an investment. Unaffiliated Private Investment Fund Valuation: In the event that Registrant references private investment funds owned by the client on any supplemental account reports prepared by Registrant, the value(s) for all private investment funds owned by the client shall reflect the most recent valuation provided by the fund sponsor. The current value of any private investment fund could be significantly more or less than the original purchase price or the price reflected in any supplemental account report. Retirement Plan Rollovers. A client or prospective client leaving an employer typically

has four options regarding an existing retirement 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 the Registrant recommends that a client roll over their retirement plan assets into an account to be managed by the Registrant, such a recommendation creates a conflict of interest if the Registrant will earn an advisory fee on the rolled over assets. No client is under any obligation to roll over plan assets to an IRA managed by the Registrant or to engage the Registrant to monitor and/or manage the account while maintained at the client’s employer whether it is from an employer’s plan or an existing IRA. If Registrant provides a recommendation as to whether a client should engage in a rollover or not (whether it is from an employer’s plan or an existing IRA), Registrant is acting as a fiduciary within the meaning of Title I of the Employee Retirement Income Security Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts. The Registrant’s Chief Compliance Officer, Debora M. Covell, remains available to address any questions that a client or prospective client may have regarding its prospective engagement and the corresponding conflict of interest presented by such engagement. Custodian Charges-Additional Fees. As discussed below at Item 12 below, when requested to recommend a broker-dealer/custodian for client accounts, Registrant generally recommendsthat Charles Schwab serve as the/custodian for client investment management assets. Broker-dealers such as Charles Schwab charge brokerage commissions, transaction, and/or other type fees for effecting certain types of securities transactions (i.e., including transaction fees for certain mutual funds, and mark-ups and mark-downs charged for fixed income transactions, etc.). The types of securities for which transaction fees, commissions, and/or other type fees (as well as the amount of those fees) shall differ depending upon the broker-dealer/custodian (while certain custodians, including Charles Schwab do not currently charge fees on individual equity transactions, others do). When beneficial to the client, individual fixed‐income and/or equity transactions may be effected through broker‐dealers with whom Registrant and/or the client have entered into arrangements for prime brokerage clearing services, including effecting certain client transactions through other SEC registered and FINRA member broker‐dealers (in which event, the client generally will incur both the transaction fee charged by the executing broker‐dealer and a “trade-away” fee charged by Charles Schwab. These fees/charges are in addition to Registrant’s investment advisory fee at Item 5 below. Registrant does not receive any portion of these fees/charges. Portfolio Activity. Registrant has a fiduciary duty to provide services consistent with the client’s best interest. Registrant will review client portfolios on an ongoing basis to determine if any changes are necessary based upon various factors, including, but not limited to, investment performance, market conditions, fund manager tenure, style drift, account additions/withdrawals, and/or a change in the client’s investment objective. Based upon these factors, there may be extended periods of time when Registrant determines that changes to a client’s portfolio are neither necessary, nor prudent. Clients remain subject to the fees described in Item 5 below during periods of account inactivity. Please Note: Cash Positions. Registrant continues to treat cash as an asset class. As such, unless determined to the contrary by Registrant, all cash positions (money markets, etc.) shall continue to be included as part of assets under management for purposes of calculating Registrant’s advisory fee. At any specific point in time, depending upon perceived or anticipated market conditions/events (there being no guarantee that such anticipated market conditions/events will occur), Registrant may maintain cash positions for defensive purposes. In addition, while assets are maintained in cash, such amounts could miss market advances. Depending upon current yields, at any point in time, Registrant’s advisory fee could exceed the interest paid by the client’s money market fund. Disclosure Brochure. A copy of the Registrant’s written Brochure as set forth on Part 2A of Form ADV, along with Registrant’s Form CRS (Relationship Summary) shall be provided to each client prior to, or contemporaneously with, the execution of the Investment Advisory Agreement or Financial Planning and Consulting Agreement Investors Introduced by Unaffiliated Adviser. Investors may be introduced to Registrant by unaffiliated registered investment advisers (each, an “Adviser”). Adviser (and its representatives) shall be exclusively responsible for: (1) assisting the client in determining the initial and ongoing suitability for Registrant’s investment portfolios and/or strategies, (2) ongoing communications with the client; and (3) receiving and ascertaining the client’s directions, notices and instructions, and forwarding them to Registrant, in writing. Registrant's obligation shall be to manage the client’s assets consistent with the directions received from Adviser. The client shall be responsible for communicating any such directions or instructions directly to Adviser. Registrant shall be entitled to rely upon any such direction, notice, or instruction (including any information or documentation regarding client’s investment objectives, risk tolerances and/or investment restrictions) until Registrant has been advised, in writing, of changes therein. Registrant shall have no responsibility to the client or the Adviser for the Adviser’s failure to communicate any and all such directions, notices and instructions in a timely manner. Registrant shall only be responsible for the assets for which it maintains investment authority. Use of Mutual Funds and Exchange Traded Funds. While the Registrant may recommend allocating investment assets to mutual funds that are not available directly to the public, the Registrant may also recommend that Investors allocate investment assets to publicly available mutual funds and exchange traded funds (“ETFs”) that the client could obtain without engaging Registrant as an investment adviser. However, if a client or prospective client determines to allocate investment assets to publicly-available mutual funds or ETFs without engaging Registrant as an investment advisor, the client or prospective client would not receive the benefit of Registrant’s initial and ongoing investment advisory services. Client Obligations. In performing its services, Registrant 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. Moreover, each client is advised that it remains their responsibility to promptly notify the Registrant if there is ever any change in their financial situation or investment objectives for the purpose of reviewing, evaluating, revising Registrant’s previous recommendations and/or services. Sub-Advisory Engagements. The Registrant may serve as a sub-advisor to unaffiliated registered investment advisors according to the terms and conditions of a written Sub- Advisory Agreement. With respect to its sub-advisory services, the unaffiliated investment advisors that engage the Registrant’s sub-advisory services maintain both the initial and ongoing day-to-day relationship with the underlying client, including initial and ongoing determination of client suitability for the Registrant’s designated investment strategies and/or programs. If the custodian/broker-dealer is determined by the unaffiliated investment adviser, Registrant will be unable to negotiate commissions and/or transaction costs, and/or seek better execution. As a result, Investors may pay higher commissions or other transaction costs or greater spreads, or receive less favorable net prices, on transactions for the account than would otherwise be the case through alternative clearing arrangements recommended by Registrant. Higher transaction costs adversely impact account performance. C. The Registrant shall provide investment advisory services specific to the needs of each client. Prior to providing investment advisory services, an investment adviser representative will ascertain each client’s investment objective(s). Thereafter, the Registrant shall allocate and/or recommend that the client allocate investment assets consistent with the designated investment objective(s). The client may, at any time, impose reasonable restrictions, in writing, on the Registrant’s services. D. Unaffiliated Wrap/Managed Account Programs: Registrant does not offer a wrap fee program for its investment advisory services. However, Registrant is a participating investment adviser in certain unaffiliated wrap and managed account fee programs. In the event that client engages the Registrant to provide investment advisory services as part of an unaffiliated wrap-fee program (for example, through Morgan Stanley, Wells Fargo, or UBS), Registrant will be unable to negotiate commissions and/or transaction costs. Under a wrap program, the wrap program sponsor arranges for the investor participant to receive investment advisory services, the execution of securities brokerage transactions, custody and reporting services for a single specified fee. Participation in a wrap program may cost the participant more or less than purchasing such services separately. Correspondingly, in the event that Registrant is engaged to provide investment advisory services as part of an unaffiliated managed account program, Registrant will likewise be unable to negotiate commissions and/or transaction costs or select a broker-dealer for execution. If the program is offered on a non-wrap basis, the program sponsor will determine the broker-dealer through which transactions must be effected, and the amount of transaction fees and/or commissions to be charged to the participant investor accounts. Registrant’s Chief Compliance Officer, Debora M. Covell, remains available to address any questions that a client may have regarding participation in a wrap fee or managed account program. E. As of December 31, 2021, the Registrant had $1,204,640,196 in assets under management on a discretionary basis.