IMPORTANT NOTICE

You are now leaving the Headwaters Capital Management website and will be entering the Charles Schwab & Co., Inc. (“Schwab”) website.

Schwab is a registered broker-dealer, and is not affiliated with Headwaters Capital Management or any advisor(s) whose name(s) appear(s) on this website. Headwaters Capital Management is/are independently owned and operated. [Schwab neither endorses nor recommends Headwaters Capital Management, unless you have been referred to us through the Schwab Advisor Network®. (This bracketed language is for use by Schwab Advisor Network members only.)] Regardless of any referral or recommendation, Schwab does not endorse or recommend the investment strategy of any advisor. Schwab has agreements with Headwaters Capital Management under which Schwab provides Headwaters Capital Management with services related to your account. Schwab does not review the Headwaters Capital Management website(s), and makes no representation regarding information contained in the Headwaters Capital Management website, which should not be considered to be either a recommendation by Schwab or a solicitation of any offer to purchase or sell any securities.