Separately Managed Accounts

5

F/m Integrated Alpha - Large Cap Focused

Asset Class

US Large Cap Core Equities

Objective

Seek long-term growth of capital.

Strategy

Manager seeks stocks with both fundamental strength—accelerating revenues and earnings—and technical strength. Manager’s QuantActiveTM process seeks to combine the benefits of quantitative and active approaches.

Composite Details

INCEPTION

9

May 31, 2012

Benchmark

9

S&P 500 Index

Vehicles Available

9

Separate Account

9

Model Delivery

9

Mutual Fund

Portfolio Structure

HOldings

9

30 - 60

Maximum Position Size

9

≈ 6%

Maximum Cash

9

≈ 15%

Active Sector Exposure

9

+/- 20%

Statistical Expectations vs. primary benchmark

Active Share

9
> 75%

Beta

9

0.8 to 1.3

Maximum Tracking Error

9

≈ 8%

Guidelines only. There can be no assurance any objectives can be achieved.

Strategy Performance

Disclosure

F/m Investments, LLC (d/b/a, Integrated Alpha) is an investment adviser registered under the Investment Advisers Act of 1940. The information presented here in the material is general in nature and is not designed to address your investment objectives, financial situation or particular needs. Prior to making any investment decision, you should assess or seek advice from a professional regarding whether any particular transaction is relevant or appropriate to your individual circumstances. Although taken from reliable sources, Integrated Alpha cannot guarantee the accuracy of information received from third parties. The information is current as of the date of this presentation and is subject to change at any time, based on market or other conditions.

The preceding performance represents a mutual fund; third-party, fee-paying accounts; and proprietary, non-fee-paying accounts utilizing the F/m Integrated Alpha Large Cap Focused Strategy (the “Strategy”), managed by Francisco Bido, lead portfolio manager of Integrated Alpha Investments. The inception date of the Strategy was October 3, 2016, with Francisco Bido serving as portfolio manager of the Strategy at a predecessor firm. Performance represents a composite of all accounts utilizing the Strategy.

Performance is time-weighted for each performance period and reflects the reinvestment of dividends and other earnings. Performance is net of all trading and operational expenses, including brokerage, administrative, interest, and custodial costs. Performance is net of management fees for mutual fund performance and the performance of third-party, fee-paying accounts. For proprietary, non-fee-paying accounts, pro forma net performance is utilized assuming a 1% annual management fee, with fees deducted from historical gross returns for such accounts on a pro rata monthly basis.

Actual results of individual accounts and products utilizing the Strategy, as well as account holdings, may vary due to client cash flows, timing of implementation, different custodians, the availability of underlying securities, regulation, and other factors. Small accounts may underperform other accounts utilizing the Strategy due to the potentially greater impact of transaction costs.

Historical performance was affected by material market and economic conditions that were independent of and not controlled by F/m Investments, LLC or Integrated Alpha Investments and may be different in the future.

The holdings in the strategy may differ significantly from the securities that comprise the benchmark index. The benchmark is provided to allow for comparison of the investor’s performance to that of certain well-known and widely recognized index. You cannot invest directly in an index.

The mention of specific securities and sectors illustrates the application of our investment approach only and is not to be considered a recommendation by Integrated Alpha. There is no assurance that the securities purchased remain in the portfolio or that the securities sold have not been repurchased. Charts, diagrams, and graphs, by themselves, cannot be used to make investment decisions.

All securities investing involves the risk of loss. Past performance is no guarantee of future results. There can be no assurance that the Strategy can meet its stated objectives.

Investing in the Strategy entails the significant risks of equity investing. The Strategy utilizes leverage and short selling which may magnify any potential losses. The Strategy may invest in foreign securities via ADRs which can be riskier than investing in US securities. Frequent trading of the portfolio involves correspondingly higher expenses and may adversely affect the Strategy’s performance.

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