Zhang Financial is a fee-only registered investment adviser based in Portage, Michigan. The purpose of this Wrap Fee Program Brochure (“Wrap Brochure”) is to describe and disclose the services, fees, potential conflicts of interest, and other necessary information clients should consider prior to becoming a client of the Zhang Financial’s investment advisory programs covered in this Wrap Brochure. For a complete description of other services and fee arrangements offered by our firm, clients should refer to our Form ADV Part 2 (“Firm Brochure”). You may obtain a copy of the Firm’s Brochure by mailing your request to 5931 Oakland Dr., Portage, MI. 49024, Attn: Compliance Department, or by e-mail at [email protected] or call (269) 385-5888. The information contained herein is current as of the date of this Brochure and is subject to change at Zhang Financial’s discretion. Please retain this Wrap Brochure for your records. We offer wrap fee programs, as defined under Rule 204-3(g)(4) of the Investment Advisers Act of 1940, that are described in this Wrap Brochure. Our wrap fee accounts are managed on an individualized basis according to the client’s investment objectives, financial goals, risk tolerance and other similar determining factors. As part of our asset management services, we generally create a portfolio, consisting of no load mutual funds, individual stocks or bonds, and/or exchange traded funds (“ETFs”). The client’s individual investment strategy is tailored to his or her specific needs and may include some or all of the previously mentioned securities. Each portfolio will be designed to meet a particular investment goal, which we determine to be suitable to the client’s circumstances. Once the appropriate portfolio has been determined, we review the portfolio at least quarterly and if necessary, rebalance the portfolio based upon the client’s individual needs, stated goals, and objectives. Wrap Fees A “wrap fee arrangement” is one in which a single fee is charged based on the market value of assets in the client’s account which includes the management fee and transaction costs for the purchase and sale of securities. We offer a wrap fee account program for which we agree to pay all trading costs associated with the transactions in such account. Our firm’s annual fees for investment management services provided under our various Client Agreements is a specified percentage negotiated and agreed to with our clients. Our fees are billed on a pro-rata annualized basis, paid quarterly in advance based on the value of a client’s account as of the last day of the previous

quarter. Our Asset Management Wrap Fee Program Fee Schedule is as follows: Zhang Financial Fee Structure Market Value of the Account(s) Percent Annual Fee $1,000,000 - $2,500,000 1.00% $2,500,000 - $5,000,000 0.90% $5,000,000 - $10,000,000 0.80% $10,000,000 and above Negotiable The annual fee is determined based on a percentage of the total value of all accounts the client has with us and will be applied to all accounts regardless of the value of each individual account. Unlike many companies who use tiered rates, which means you only receive the lower rates on a portion of your account, the above rates are flat. You will be charged the applicable rates shown on the entire total account balance. We have a minimum annual fee of $3,000 per client. However, the firm reserves the right to charge a fee that may be different from the percentages based on client circumstances it deems pertinent. The fee on accounts with a value lower than $1,000,000 is negotiated and generally does not exceed 1.2%. Please note that we generally do not accept accounts lower than $1,000,000. A wrap fee program allows our clients to pay a specified fee for investment advisory services and the execution of transactions. The advisory services include portfolio management, and the fee is not based directly upon transactions in a client’s account. This fee is bundled with our costs for executing transactions in your account(s). Zhang Financial primarily offers wrap fee accounts for individual discretionary accounts. While we do not charge our clients higher advisory fees based on their trading activity, you should be aware that we may have an incentive to limit the trading activities in your account(s) because we are charged for executed trades. By participating in our wrap fee program, you may end up paying either more or less than you would through a non-wrap fee program because in a non-wrap fee program, a lower advisory fee may be charged, however, trade execution costs are passed directly to you by the executing broker. Other Fees In addition to the wrap fee discussed above, you may also pay custodial fees, charges imposed directly by a mutual fund, index fund, or exchange traded fund (such as fund management fees and other fund expenses, each of which shall be disclosed in the fund’s prospectus), mark-ups and mark-downs, spreads paid to market makers, fees for trades executed away from custodian, wire transfer fees, electronic fund transfer fees, third-party reporting platform fees, and other fees and taxes on brokerage accounts, investments and investment transactions. These fees are not included within the wrap fee you are charged by our firm.