Franklin Street Dynamic Focus Growth

December 31 2015

INDEPENDENT ADVICE ACTIVE MANAGEMENT

Top Ten Holdings 49%Synchronoss Technologies Inc. 4.8%

Vocera Communications 4.8%

Advisory Board Company 4.7%

Proto Labs Inc 4.7%

Albany Molecular Research Inc. 4.6%

FleetMatics Group LTD 4.5%

Costar Group 4.4%

Performance Sports Group LTD 4.1%

Depomed Inc. 3.6%

Zoe’s Kitchen 3.5%

Sector (GICS) Cash/Others 8.6% 0.2%

Consumer Discretionary 12.9% 16.7%

Consumer Staples 1.6% 3.5%

Energy 2.4% 1.1%

Financials 3.1% 7.8%

Health Care 25.8% 28.1%

Industrials 18.8% 12.6%

Information Technology 24.9% 25.1%

Materials 1.5% 3.9%

Telecommunications 0.0% 0.8%

Utilities 0.0% 0.1%

Dynamic Russell 2000 Focus Growth

26.50 17.05 17.80 129.13%Dynamic Focus

Russell 2000 Growth 1176 N/A $ 2.0 B $ 771 M 37.8 17.8% 0.76%

33 96.4 $ 1.8 B $ 996 M 55.8 21.5% 0.16%

# Active Wt. Ave Median Forward Est. 3-5 Dividend Holdings Share Mkt Cap Mkt Cap P/E EPS Gr. YieldDescription

Verity Asset Management | 280 South Mangum Street | 550 Diamond View II | Durham, North Carolina 27701 | Phone: (800) 247.6717

About Franklin Street Partners

Franklin Street Partners was founded in 1990 to manage the investments of the founding principals and a small group of investors. Over time, they extended their asset management expertise to both institutional investors and wealthy individuals. They have evolved to include an investment team that focuses on growth equities across the entire domestic market cap spectrum and currently have over $2 billion in assets under advisement �rm wide.

Their investment process uses independent fundamental research to build proprietary valuation models. The goal is to identify growing businesses with sustainable advan-tages and durable economics.

Strategy Highlights

High conviction, small cap growth portfolio Managed to outperform the Russell 2000 Growth Index

High Quality, Growing Businesses Primarily accelerating and secular growth May also invest in cyclical growth companies when their cycles and valuations warrant.

High Conviction Portfolio Typically 20-25 positions Maximum position sizes of 10% (at cost)

Concentrated Sector Allocations Sector latitude of +/-15% relative to the benchmark Expected to experience turnover of 70-90% per year

Independent Thinking.Meaningful Results.

280 South Mangum Street550 Diamond View IIDurham, NC 27701

(800) 247.6717www.verityinvest.com

Firm Information: Verity Asset Management and Franklin Street Advisors, Inc. are investment advisors registered with the Securities and Exchange Commission under the Investment Advisors Act of 1940. Verity Asset Management and Franklin Street Advisors, the strategy manager, have entered into a sub-advisory agreement. As of 3/1/15, Franklin Street Advisors, Inc. will manage the Dynamic Focus Growth Equity Strategy for Verity Asset Manage-ment. Verity Asset Management and Franklin Street Advisors are not af�liated. Composite Characteristics: Effective 3/1/15, Franklin Street Advisors will manage a model portfolio for Verity Asset Management, and the historical returns will be linked to the Verity accounts managed to the Dynamic Focus Growth Equity model.The Dynamic Focus Growth composite was created in April 2014 and the inception date is 12/31/13. Prior to 3/31/15, accounts included are comprised of all actively managed discretionary accounts with equity assets greater than $150,000 and a small capitalization growth equity mandate. Accounts are included at the end of the month in which they meet the requirements for this product. Terminated portfolios are included through the last full calendar month in which they cease to meet the criteria for inclusion. The Russell 2000 Growth Index is used as its benchmark for comparative purposes only. The Russell 2000 Growth Index measures the perfor-mance of those Russell 2000 Index securities with relatively high price-to-book ratios and relatively high forecasted growth values, representative of U.S. securities exhibiting growth characteristics. Individual account performance may vary from the performance of the composite due multiple factors, including: the timing of investment, cash �ows, account size, and the deduction of management fees. Returns data after 6/30/2015 is compiled by Verity Asset Management exclusively from accounts managed on the Trust Company of America platform. Otherwise, strategy data is provided by Franklin Street Partners; Verity Asset Management has not independently veri�ed this data.

Net of Fee Return: The fee schedule details are provided in Verity’s ADV Part 2A. The Net of Fee returns displayed above are annualized and re�ect the deduction of an annual fee rate of 2.10% which is the highest fee rate applicable to this strategy. Calculation Methodology: Valuations and returns are computed in US currency. Calculations were made using the accrual method of accounting for interest and expenses, but recognizing dividends when received. Calculations were based on the trade date, rather than the settlement date, of transactions. The composite does not include the use of leverage such as margin transactions or short sales. Returns shown for periods longer than one year are annualized.

All investing involves risk of loss. Results shown are purely historical and are no indication of future performance. Past performance is not intended to be, and is not to be construed as, an indication of likely future results.

RETURNS 2014 2015

Total ReturnNet of Fees

Russell 2000Growth Index

7.81 % -19.30 %

5.61 % -1.40 %

*Inception 12/31/2013

Franklin Street Dynamic Focus Growth Returns(As of December 31, 2015)