Lincoln Investment Planning LLC

Types of Clients

Lincoln Investment primarily serves individuals, high net worth individuals, trusts, businesses, and charitable
organizations as well as the retirement assets of individuals and businesses, including, through IRC 403(b) and 457
programs, individual retirement accounts (“IRAs”) and employer sponsored ERISA plans. We also offer our
institutional investment advisory services to third-party investment advisers and trust companies. Clients may open
qualified and non-qualified accounts with Lincoln Investment. Not all investors and plans, including retirement
plans, are eligible to invest in one or more of Lincoln Investment's advisory programs. Please consult with your
Advisor or your employer to determine if your assets are eligible to invest. Please consult with your Advisor for
more information on minimum account size requirements.

Account Requirements
A minimum account size exists for the Wrap Fee Programs offered by Lincoln Investment. Lincoln Investment or
the Third-Party Managers may, from time to time, amend or waive the minimum account size. Consult with your
Advisor for more information on minimum account size requirements. For Wrap Fee Program minimums, see the
Description of Wrap Fee Programs and Fees earlier in this brochure.

Item 6: Portfolio Manager Selection and Evaluation

This section discusses how Lincoln Investment selects and evaluates Wrap Fee Programs and portfolio managers,
and any conflicts of interest related to its selections, other than as described in Item 4; if performance-based fees
are assessed in any Wrap Fee Program; the methods of analysis, investment strategies and the risk of loss
associated with the Wrap Fee Programs offered; and Lincoln Investment's Proxy Voting policy.

                                                                                                             July 2026

Lincoln Investment’s IM&R Team routinely reviews the advisory services managed, sponsored, and/or offered by
Lincoln Investment, including the Wrap Fee Programs, portfolio managers, and Sub-Advisers. A description of the
IM&R Team is provided in the supplement at the end of this brochure. The IM&R Team performs the following
roles on Lincoln Investment’s behalf:

                  •    The management of all Lincoln Investment managed model portfolios
                  •    The selection of advisory services offered by Lincoln Investment
                  •    The monitoring of advisory services offered by Lincoln Investment
                  •    The removal of advisory services offered by Lincoln Investment

In determining which Wrap Fee Programs, portfolio managers, or Sub-Advisers are selected, the IM&R Team
utilizes a preliminary screening process involving a variety of criteria, such as assets under management, personnel,
registration, disclosures and regulatory history, together with other quantitative and qualitative criteria. Lincoln
Investment does not independently verify the accuracy of performance information provided to Lincoln Investment
by another investment adviser.

The ongoing due diligence and monitoring process may result in the replacement of or recommendation for
replacement of a portfolio manager or Sub-Adviser by the IM&R Team.

Advisory Services Offered by Lincoln Investment Other than Wrap Fee Programs
Lincoln Investment offers advisory services that are not Wrap Fee Programs. For further information regarding
these advisory services, please see Lincoln Investment's Investment Advisory Brochure (Form ADV Part 2A)
attached.

Performance-Based Fees and Side-by-Side Management
Lincoln Investment and our Advisors do not receive performance-based fees. A performance-based fee is an
advisory fee that compensates the advisor for the advisor's success in managing his or her client's money or "a fee
based on the share of the capital gains and appreciation of a client's funds." A performance-based fee may induce an
advisor to take greater and undue risks with client's funds in an attempt to generate higher compensation to the
advisor.

Your Wrap Fees with Lincoln Investment are assessed as a percentage of the total value of your advisory account
assets as of each month-end and are not performance-based fees.

Methods of Analysis, Investment Strategies and Risk of Loss
Investing in securities involves risk of loss that you, the investor, should be prepared to bear.

The advisory services and advice offered by Lincoln Investment and its Advisors primarily attempt to provide to you
risk-appropriate diversified portfolios comprised of primarily mutual funds. A risk-appropriate diversified portfolio
applies the disciplines and theories of asset allocation. Asset allocation means, first and foremost, working to design
a portfolio that sufficiently allocates your assets across different asset classes to help reduce the exposure to any
single asset class and market loss you could incur in your account(s) if you didn’t diversify. It is important to
understand that asset allocation, although a proven theory to reduce risk to a portfolio, does not guarantee a profit or
protect against loss. A diversified portfolio typically will not perform as well as a stock market index, such as the
S&P 500, in a rising market environment, and it will typically not decline as much in a declining market
environment.

Asset classes include, but are not limited to, domestic and international equities, domestic and international bonds,
cash and cash equivalents, as well as alternative investment types such as real estate and commodities. Equities can
be further broken down by market capitalization (company size based on annual revenues) ranging from large
companies (large-cap) to medium and small companies (medium- and small-cap). Bonds, meanwhile, can be further
broken down by issuer type – such as corporate, municipal, and government – and by duration, ranging from short
term to long.
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