The performance presentation on the reverse side of this page compares the after-fee performance of Weik equities to the performance of the S&P 500 Index over the past two market cycles, beginning with the downturn that began in March, 2000. This time period encompasses seventy-nine consecutive calendar quarters. It includes two of the most severe bear markets ever recorded for U.S. equities and the substantial recoveries that followed.

For purposes of illustration, the presentation begins with a hypothetical $1 million investment on March 31, 2000. The S&P 500 actually peaked on March 24, 2000, but the closest end-of-quarter date has been utilized to facilitate performance comparisons. Similarly, closest end-of-quarter dates have been employed to represent the other dates of directional change.

The Weik Equities Only Composite (After Fee) is a composite of all equities in Weik equity and balanced private account portfolios that have been under management for more than one full calendar quarter and in which Weik has discretion over more than 95% of the assets. The returns reflect appreciation and the reinvestment of dividends and other earnings. The maximum management fee (0.25% per calendar quarter) and transaction costs have been deducted, but not any custodial fees.

The Weik Growth Portfolio Composite (After Fee) is a composite of private account portfolios in which Weik has discretion over more than 95% of the assets. These portfolios have been under management for more than one full calendar quarter and have a targeted allocation for equities of at least 76% of the total assets. The returns reflect appreciation and the reinvestment of dividends and other earnings. Management fees and transaction costs have been deducted, but not any custodial fees.

The S&P 500 Index is an unmanaged, capitalization-weighted index of the common stocks of 500 major U.S. corporations without fees or expenses. Its performance reflects appreciation and the reinvestment of dividends. It is not possible to invest directly in the S&P 500 Index.

The management of Weik Capital Management believes that the performance shown was generated with an investment philosophy and methodology similar to that described in our literature. Future investments will be made, however, in different economic circumstances, and portfolios may contain different securities than were used by Weik Capital Management during the time period covered by the returns shown. Any historical periods of favorable results are not a guarantee of future success. Any investment in equities or other security types can increase or decrease in value. Thus, it is always possible to lose capital that has been invested. The information given is historic and should not be taken as any indication of future performance. A portfolio’s return may be positive or negative, thus your investment may increase or decrease in value.