Pacific Ridge Capital Partners, LLC (“PRCP”) is an SEC-registered investment adviser with its principal place of business located in Lake Oswego, Oregon. Pacific Ridge Capital Partners, LLC began conducting business in 2010. The firm's principal shareholder (i.e., those individuals and/or entities controlling 25% or more of this company) is listed below.
• Mark D. Cooper Pacific Ridge Capital Partners, LLC offers the following advisory services to our clients: PORTFOLIO MANAGEMENT SERVICES The main focus of our firm is offering investment management services to predominantly institutional or high net worth individual clients utilizing the Small Cap and Micro Cap model portfolios. Each model portfolio is designed to meet a particular investment goal. PRCP will manage these separate accounts on a discretionary basis. Small Cap portfolio: Containing mostly equity securities, but may also invest in some convertible debt and warrants. The Small Cap portfolio typically contains 70-100 holdings, with equity securities having market capitalizations similar to those in the bottom three- quarters of the Russell 2000® Index. Micro Cap portfolio: Containing mostly equity securities, but may also invest in some convertible debt and warrants. The Micro Cap portfolio typically contains 50-80 holdings, with equity securities having market capitalizations similar to those in the Russell Microcap® Index. Through discussions with the client or the client’s representative, in which the client's goals and objectives are established, we will determine which of its model portfolios is suitable to the client's particular circumstances or which of the Funds, as noted below, would be most appropriate. We do not, however, tailor our advisory services to the individual needs of clients. Separately managed clients will have the opportunity to place reasonable restrictions on the types of investments to be held in the client's account. Clients will retain an undivided, individual ownership of all account securities.

We will maintain current client suitability information in the client’s file in order to ensure that our initial determination of an appropriate investment plan continues to be suitable and that the client's account continues to be managed in a manner appropriate to the client's financial circumstances. The annual fee for Portfolio Management Services in the Small Cap portfolio is 1.00% of assets under management, with a minimum separate account size of $3 million. The annual fee for Portfolio Management Services in the Micro Cap portfolio is 1.50% of assets under management, with a minimum separate account size of $3 million. These minimum account size and fee requirements may be negotiable under certain circumstances. We may group certain related client accounts for the purposes of achieving the minimum account size and determining the annualized fee. Nevertheless, from time to time our minimum separate account size may require that the firm decline to accept particularly small accounts. We do not currently sponsor nor participate in any wrap fee program. SUB-ADVISED MUTUAL FUNDS We act as a sub-adviser to one or more unaffiliated registered investment companies (mutual funds). As such, we provide professional investment advisory services on a discretionary basis for these mutual funds. These sub-advised assets are managed similarly to other separate accounts that receive our portfolio management services. ADDITIONAL CONSIDERATIONS The information provided merely summarizes the detailed information provided in each Fund’s offering and organizational documents. Prospective investors in one or both of the Funds should be aware of additional terms and risks associated with investment. Prospective investors should refer to the appropriate offering and organizational documents for important additional considerations and information. AMOUNT OF MANAGED ASSETS Our assets under management as of March 8, 2024 were $442,442,071, all of which were managed on a discretionary basis.