Client Disclosure

Black Label Wealth Management, LLC ("Black Label") is an SEC registered investment adviser located in Boise, Idaho. Black Label and its representatives are in compliance with the current filing requirements imposed upon SEC registered investment advisers by those states in which Black Label maintains clients. Black Label may only transact business in those states in which it is registered, or qualifies for an exemption or exclusion from registration requirements. Black Label's web site is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment- related information, publications, and links. Accordingly, the publication of Black Label's web site on the Internet should not be construed by any consumer and/or prospective client as Black Label's solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Any subsequent, direct communication by Black Label with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of Black Label, please contact the SEC or the state securities regulators for those states in which Black Label maintains a notice filing. A copy of Black Label's current written disclosure statement discussing Black Label's business operations, services, and fees is available from Black Label upon written request. Black Label does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Black Label's web site or incorporated herein, and takes no responsibility therefor. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly.

Please remember that different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment or investment strategy (including those undertaken or recommended by Black Label) will be profitable or equal any historical performance level(s).

Please Note: Black Label's investment programs may involve above average portfolio turnover which could result in adverse tax consequences in non-qualified accounts.

Certain portions of Black Label's web site (i.e. newsletters, articles, commentaries, etc.) may contain a discussion of, and/or provide access to, Black Label's (and those of other investment and non-investment professionals) positions and/or recommendations as of a specific prior date. Due to various factors, including changing market conditions, such discussion may no longer be reflective of current position(s) and/or recommendation(s). Moreover, no client or prospective client should assume that any such discussion serves as the receipt of, or a substitute for, personalized advice from Black Label, or from any other investment professional. Black Label is neither an attorney nor an accountant, and no portion of the web site content should be interpreted as legal, accounting or tax advice.

Rankings and/or recognition by unaffiliated rating services and/or publications should not be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if Black Label is engaged, or continues to be engaged, to provide investment advisory services, nor should it be construed as a current or past endorsement of Black Label by any of its clients. Rankings published by magazines, and others, generally base their selections exclusively on information prepared and/or submitted by the recognized adviser.

Each client and prospective client agrees, as a condition precedent to his/her/its access to Black Label's web site, to release and hold harmless Black Label, its officers, directors, owners, employees and agents from any and all adverse consequences resulting from any of his/her/its actions and/or omissions which are independent of his/her/its receipt of personalized individual advice from Black Label.

Composite Performance Disclosure

The reflected composite performance results represent time-weighted actual performance results for one account that was continuously managed by BLACK LABEL WEALTH MANAGEMENT, LLC ("Black Label"). Black Label believes this continuously managed account to be historically representative of its model investment performance and decision making processes during the corresponding time period. The composite performance results reflect the reinvestment of dividends and other account earnings, and are net of applicable account transaction and custodial charges, and Black Label's investment management fee.

Please Note: Past performance may not be indicative of future results. Therefore, no current or prospective client should assume that future performance will be profitable, equal the performance results reflected, or equal the corresponding historical benchmark index (S&P 500 Composite Index - "S&P"). The historical index performance results for the S&P does not reflect the deduction of transaction and custodial charges, or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing indicated historical performance results. The historical performance results for the S&P is provided exclusively for comparison purposes only, so as to provide general comparative information to assist an individual client or prospective client in determining whether Black Label performance meets, or continues to meet, his/her investment objective(s). The S&P is a market capitalization-weighted index of 500 widely held stocks often used as a proxy for the stock market. Standard & Poor's chooses the member companies for the S&P based on market size, liquidity, and industry group representation. Included are the common stocks of industrial, financial, utility, and transportation companies. Please Also Note: (1) The Black Label performance results do not reflect the impact of taxes; and (2) It should not be assumed that Black Label account holdings will correspond directly to any such comparative benchmark index.

For reasons including variances in the investment management fee incurred, market fluctuation, the date on which a client engaged Black Label's investment management services, and any account contributions or withdrawals, the performance of other accounts managed by Black Label during the corresponding time period may have varied substantially from the indicated portfolio performance results.

In the event that there has been a change in a client's investment objectives or financial situation, he/she/it is encouraged to advise Black Label immediately. Different types of investments and/or investment strategies involve varying levels of risk, and there can be no assurance that any specific investment or investment strategy (including the investments purchased and/or investment strategies devised or undertaken by Black Label) will be profitable.

Information pertaining to Black Label's advisory operations, services, and fees is set forth in Black Label's current disclosure statement, a copy of which is available from Black Label upon request Performance results have been compiled solely Advent Software, Inc., are unaudited, and have not been independently verified. Black Label maintains all information supporting the performance results in accordance with regulatory requirements.