MAINE ADVISORY ASSOCIATES

Item 1: Cover Page Part 2A of Form ADV: Firm Brochure April 14, 2026 Principal Office Address 358 U.S. Route 1, Suite 101 Falmouth, ME 04105 Mailing Address P.O. Box 7711 Portland, ME 04112-7711 Firm Contact Kimberly Volk, President and Managing Member (207) 778-2250 This brochure provides information about the qualifications and business practices of Maine Advisory Associates. If you have any questions about the contents of this brochure, please contact us by telephone at (207) 778-2250. The information in this brochure has not been approved or verified by the United States Securities and Exchange Commission or by any State Securities Authority. Registration or licensure as a registered or licensed investment adviser does not imply a certain level of skill or training. Additional information about Maine Advisory Associates also is available on the SEC’s website at www.adviserinfo.sec.gov.  Item 2: Material Changes March 31, 2026: Item 5 Fees and Compensation was modified with changes to the Advisor’s fee schedules for asset management and financial consulting services. The material changes discussed above are only those changes that have been made to this Brochure since the firm’s last annual update of the Brochure. The date of the last annual update of the Brochure was March 31, 2025. ADV Part 2 – Firm Brochure Page 2 Maine Advisory Associates  Item 3: Table of Contents Item 1: Cover Page ....................................................................................................................................... 1 Item 2: Material Changes ............................................................................................................................. 2 Item 3: Table of Contents............................................................................................................................. 3 Item 4: Advisory Business ........................................................................................................................... 4 Item 5: Fees & Compensation...................................................................................................................... 5 Item 6: Performance-Based Fees & Side-By-Side Management ............................................................... 7 Item 7: Types of Clients & Account Requirements .................................................................................... 7 Item 8: Methods of Analysis, Investment Strategies & Risk of Loss ........................................................ 7 Item 9: Disciplinary Information ................................................................................................................ 9 Item 10: Other Financial Industry Activities & Affiliations .................................................................... 10 Item 11: Code of Ethics, Participation or Interest in Client Transactions & Personal Trading ........... 10 Item 12: Brokerage Practices .................................................................................................................... 11 Item 13: Review of Accounts or Financial Plans...................................................................................... 14 Item 14: Client Referrals & Other Compensation .................................................................................... 14 Item 15: Custody ........................................................................................................................................ 14 Item 16: Investment Discretion ................................................................................................................ 15 Item 17: Voting Client Securities .............................................................................................................. 15 Item 18: Financial Information ................................................................................................................. 15 Item 19: Requirements for State-Registered Advisers ........................................................................... 15 Brochure Supplement - Kimberly Volk, MBA Item 1: Cover Page for Brochure Supplement ........................................................................................ 17 Item 2: Education, Background & Business Experience ......................................................................... 18 Item 3: Disciplinary Information ............................................................................................................. 18 Item 4: Other Business Activities ............................................................................................................. 18 Item 5: Additional Compensation ............................................................................................................ 18 Item 6: Supervision ................................................................................................................................... 18 Item 7: Requirements for State-Registered Advisors ............................................................................ 19 Brochure Supplement - Michelle Lamb, CFP® Item 1: Cover Page for Brochure Supplement ........................................................................................ 20 Item 2: Education, Background & Business Experience ......................................................................... 21 Item 3: Disciplinary Information ............................................................................................................. 22 Item 4: Other Business Activities ............................................................................................................. 22 Item 5: Additional Compensation ............................................................................................................ 22 Item 6: Supervision ................................................................................................................................... 22 Item 7: Requirements for State-Registered Advisors ............................................................................ 23 ADV Part 2 – Firm Brochure Page 3 Maine Advisory Associates  Item 4: Advisory Business We are dedicated to providing individuals and other types of clients with a wide array of investment advisory services. Our firm is a limited liability company formed in the State of Maine. Maine Advisory Associates (“MAA”) is an investment adviser licensed with the State of Maine securities regulators since January 2021; registered with the New Hampshire state securities regulators since June 2022; and has a registration pending with the U.S. Securities and Exchange Commission (SEC) since April 2026. The principal owner of MAA is Kimberly Volk, President and Managing Member. Description of the Types of Advisory Services We Offer Asset Management: We emphasize continuous and regular account supervision. As part of our asset management service, we generally create a portfolio, consisting of individual stocks or bonds, exchange traded funds (“ETFs”), and mutual funds. The client’s individual investment strategy is tailored to their specific needs and may include some or all of the previously mentioned securities. Each portfolio will be initially designed to meet a particular investment goal, which we determine to be suitable to the client’s circumstances. Once the appropriate portfolio has been determined, we review the portfolio at least annually and if necessary, rebalance the portfolio based upon the client’s individual needs, stated goals and objectives. MAA measures and selects mutual funds using various criteria, such as the fund manager’s tenure, and/or overall career performance. We may, on occasion, recommend redistributing investment allocations to diversify the portfolio in an effort to reduce risk and increase performance. We may recommend specific stocks to increase sector weighting and/or dividend potential. MAA may recommend employing cash positions as a possible hedge against market movement, which may adversely affect the portfolio. MAA may recommend selling positions for reasons that include, but are not limited to, harvesting capital gains or losses, business or sector risk exposure to a specific security or class of securities, overvaluation or overweighting of the position(s) in the portfolio, change in risk tolerance of client, or any risk deemed unacceptable for the client’s risk tolerance. MAA will provide investment advisory services and portfolio management services and will not provide securities custodial or other administrative services. Financial Consulting: We provide financial consultation services to individuals, families, and other clients regarding the management of their financial resources based upon an analysis of the Client’s current situation, goals, and objectives. Generally, such financial services will involve rendering one or more financial consultations for clients based on the client’s financial goals and objectives. This consulting may encompass one or more of the following areas: Investment Planning, Retirement Planning, Estate Planning, Charitable Planning, Education Planning, Mortgage/Debt Analysis, Insurance Analysis, Business and Personal Financial Planning. Our financial consultations rendered to clients usually include general recommendations for a course of activity or specific actions to be taken by the clients. For example, recommendations may be made that the clients begin or revise investment programs, create or revise wills or trusts, obtain or revise insurance coverage, commence or alter retirement savings, or establish education or charitable giving programs. It should also be noted that we refer clients to an accountant, attorney, business broker or other specialist, as necessary for non-advisory related services. A written report is not provided for consultations. Consultations are typically completed within six (6) months of the client signing a contract with us, assuming that all the information and documents we request from the ADV Part 2 – Firm Brochure Page 4 Maine Advisory Associates  client are provided to us promptly. Financial consulting recommendations will be implemented directly by the client. Tailoring of Advisory Services MAA will tailor its advisory services to client’s individual needs based on meetings and conversations with the client. Each client has the opportunity to place reasonable restrictions on investing in certain securities or types of securities, and MAA will address those restrictions with the client to have a clear understanding of the client’s requirements. Restrictions on investments in certain securities or types of securities may not be possible due to the level of difficulty this would entail in managing the account. Restrictions would be limited to our Asset Management service. We do not manage assets through our other services. Wrap Fee Programs The firm does not provide portfolio management services to wrap fee programs. Regulatory Assets Under Management As of December 31, 2025, MAA had $114,225,226 in discretionary, and $2,323,775 in non- discretionary, client assets under management totaling $116,549,001. Item 5: Fees & Compensation How We Are Compensated for Our Advisory Services Asset Management: Pursuant to an investment advisory contract signed by each client, the client will pay MAA an annual management fee, payable quarterly in arrears, based on the value of the portfolio assets of the account managed by MAA as of the close of market on the last business day of the preceding quarter. New account fees will be prorated from the inception of the account to the end of the first quarter. Assets Under Management Annual Percentage of Assets Charge $5,600 minimum annual fee First $400,000 $400,001 - $1,000,000 Over $1,000,000 1.25% 1.00% For example, an account with a total aggregate value of $500,000 would be charged $500,000 X 1.25%, or $6,250 per year, or $1563 per quarter or $521 per month. Fees may be negotiated at the sole discretion of MAA. Fees may be negotiated based on, among other things, the overall client relationship, size of the account, complexity and nature of the investment advisory services, nature of the client’s personal and financial background, client needs, and the expenditure of time and resources by MAA to conduct or implement any of the investment advisory services. For new clients, the minimum annual advisory fee per account is $5,600 for individuals and institutional clients, but at no time will MAA’s fee exceed 2.0% annually. ADV Part 2 – Firm Brochure Page 5 Maine Advisory Associates  Asset management fees will be directly deducted from the client account on a quarterly basis by the qualified custodian. The client will give written authorization permitting MAA to be paid directly from their account held by the custodian. The custodian will send a statement at least quarterly to the client and MAA will also send an invoice to the client outlining the fee calculation and the amount withdrawn from the client account at the same time the fee deduction invoice is sent to the qualified custodian. In rare cases, clients may be directly invoiced on a quarterly basis for any outstanding advisory fees due. Financial Consulting: We charge an hourly fee for financial consulting services. The ultimate fee that we charge you is based on the scope and complexity of our engagement with you. Our hourly fee is $400 per hour and will be negotiated and agreed upon by the parties in advance. The fee will be based upon the anticipated number of hours it will take to complete the financial consultation. Hourly fee-based clients are billed one-half in advance and one-half upon completion of the financial consultation. In all cases, we will not require an advance fee exceeding $400 when services cannot be rendered within 6 (six) months. If the client terminates the agreement with MAA prior to MAA’s completion of the financial consultation, any fees due the Advisor will be invoiced to the client and payable within thirty (30) days of delivery of the invoice. Other Types of Fees & Expenses All fees paid to MAA for investment advisory services are separate and distinct from the expenses charged by mutual funds, index funds, or exchange traded funds to their shareholders. These fees and expenses are described in each fund’s prospectus. These fees will generally include a management fee and other fund expenses. Clients will incur transaction charges for trades executed in their accounts. At no time will MAA accept or maintain custody of a client’s funds or securities except for authorized fee deduction. Client is responsible for all custodial and securities execution fees charged by the custodian and executing broker-dealer. MAA’s fee is separate and distinct from the custodian and execution fees. Termination & Refunds We charge our Asset Management fees quarterly in arrears. Either Maine Advisory Associates or you may terminate MAA’s investment advisory services upon written notice. Upon written notice of termination, we will compute a pro-rata daily rate. This daily rate will be multiplied by the number of days we provided services during the quarter prior to the date of termination of services. That amount will be billed to you and debited from your account. The first one-half of MAA’s Financial Consulting fee is payable in advance. Upon termination, any fees paid in advance will be prorated to the date of termination and any unearned fees will be refunded to client. Any fees earned but unpaid will be invoiced to the client and payable within thirty (30) days of delivery of the invoice. Because MAA charges one-half of the Financial Consulting fees in arrears, there is no refund policy for Financial Consulting fees billed in arrears. ADV Part 2 – Firm Brochure Page 6 Maine Advisory Associates  Commissionable Securities Sales Neither MAA nor its supervised persons accept compensation for the sale of securities or other investment products, including asset-based sales charges or service fees from the sale of mutual funds. Item 6: Performance-Based Fees & Side-By-Side Management MAA does not charge performance-based fees. Item 7: Types of Clients & Account Requirements MAA will offer its services to the following types of clients: • Individuals and High Net Worth Individuals; • Trusts, Estates or Charitable Organizations; and • Corporations or Other Business Entities. Clients utilizing our Asset Management service will be required to have a minimum aggregate account value of $400,000. This requirement may be waived on a client-by-client basis. Item 8: Methods of Analysis, Investment Strategies & Risk of Loss Methods of Analysis We may use the following methods of analysis in formulating our investment advice and/or managing client assets: Technical & Charting Analysis: We analyze past market movements and apply that analysis to the present in an attempt to recognize recurring patterns of investor behavior and potentially predict future price movement. Technical analysis does not consider the underlying financial condition of a company. This presents a risk in that a poorly-managed or financially unsound company may underperform regardless of market movement. Fundamental Analysis: When utilizing this strategy, we may purchase securities with the idea of holding them for a relatively long time (typically held for at least a year). A risk in a long-term purchase strategy is that by holding the security for this length of time, we may not take advantage of short-term gains that could be profitable to a client. Moreover, if our predictions are incorrect, a security may decline sharply in value before we make the decision to sell. Typically, we employ this sub-strategy when we believe the securities to be well valued; and/or we want exposure to a particular asset class over time, regardless of the current projection for this class. Investment Strategies We primarily use long-term purchases (securities held at least a year) for managing client accounts with infrequent trading (i.e., securities sold within 30 Days) to rebalance client portfolios. Long-Term Purchases: When utilizing this strategy, we may purchase securities with the idea of holding them for a relatively long time (typically held for at least a year). A risk in a long-term purchase strategy is that by holding the security for this length of time, we may not take advantage of short-term gains that could be profitable to a client. Moreover, if our predictions are incorrect, a ADV Part 2 – Firm Brochure Page 7 Maine Advisory Associates  security may decline sharply in value before we make the decision to sell. Typically, we employ this sub-strategy when we believe the securities to be well valued; and/or we want exposure to a particular asset class over time, regardless of the current projection for this class. Trading: We rarely purchase securities with the idea of selling them very quickly (typically within 30 days or less). We would do this in an attempt to take advantage of our predictions of brief price swings. The risk associated with this strategy is that a high volume of trading activity may lead to increased transaction fees, returns are not guaranteed on any transaction and that the market can be volatile. We generally invest client’s cash balances in money market funds, FDIC Insured Certificates of Deposit, high-grade commercial paper and/or government backed debt instruments. Ultimately, we try to achieve the highest return on our client’s cash balances through relatively low-risk conservative investments. In most cases, at least a partial cash balance will be maintained in a money market account so that our firm may debit advisory fees for our services related to Asset Management, as applicable. The methods of analysis and investment strategies followed by MAA are utilized across all of the firm’s clients, as applicable. One method of analysis or investment strategy is not more significant than the other as the firm is considering the client’s portfolio, risk tolerance, time horizon, and individual goals. However, the client should be aware that with any trading that occurs in the client account, the client will incur transaction and administrative costs. Risks of fundamental analysis may include risks that market actions, natural disasters, government actions, world political events or other events not directly related to the price or valuation of a specific company’s fundamental analysis can adversely impact the stock price of a company causing a portfolio containing that security to lose value. Risks may also include that the historical data and projections on which the fundamental analysis is performed may not continue to be relevant to the operations of a company going forward, or that management changes or the business direction of management of the company may not permit the company to continue to produce metrics that are consistent with the prior company data utilized in the fundamental analysis, which may negatively affect the Advisor’s estimate of the valuation of the company. The primary risks in technical analysis are that the factors used to analyze the price, trends and volatility of a security may not be replicated, or the outcomes of such analysis will not be the same as in past periods where similar combinations existed. Because of the reliance on trends, technical analysis can signal buying at market peaks and selling at market troughs. All investments involve some degree of risk. In finance, risk refers to the degree of uncertainty and/or potential financial loss inherent in an investment decision. In general, as investment risks rise, investors seek higher returns to compensate themselves for taking such risks. Every saving and investment product has different risks and returns. Differences include how readily investors can get their money when they need it, how fast their money will grow, and how safe their money will be. The primary risks faced by investors include: Business Risk With a stock, you are purchasing a piece of ownership in a company. With a bond, you are loaning money to a company. Returns from both of these investments require that the company stays in business. If a company goes bankrupt and its assets are liquidated, common stockholders are the last ADV Part 2 – Firm Brochure Page 8 Maine Advisory Associates  in line to share in the proceeds. If there are assets, the company’s bondholders will be paid first, then holders of preferred stock. If you are a common stockholder, you get whatever is left, which may be nothing. Volatility Risk Even when companies aren’t in danger of failing, their stock price may fluctuate up or down. Large company stocks as a group, for example, have lost money on average about one out of every three years. A stock’s price can be affected by factors inside the company, such as a faulty product, or by events the company has no control over, such as political or market events. Inflation Risk Inflation is a general upward movement of prices. Inflation reduces purchasing power, which is a risk for investors receiving a fixed rate of interest. The principal concern for individuals investing in cash equivalents is that inflation will erode returns. Interest Rate Risk Interest rate changes can affect a bond’s value. If bonds are held to maturity the investor will receive the face value, plus interest. If sold before maturity, the bond may be worth more or less than the face value. Rising interest rates will make newly issued bonds more appealing to investors because the newer bonds will have a higher rate of interest than older ones. To sell an older bond with a lower interest rate, you might have to sell it at a discount. Liquidity Risk This refers to the risk that investors won’t find a market for their securities, potentially preventing them from buying or selling when they want. This can be the case with the more complicated investment products. It may also be the case with products that charge a penalty for early withdrawal or liquidation such as a certificate of deposit (CD). The Advisor does not primarily recommend a particular type of security. However, clients are advised that many unexpected broad environmental factors can negatively impact the value of portfolio securities causing the loss of some or all of the investment, including changes in interest rates, political events, natural disasters, and acts of war or terrorism. Further, factors relevant to specific securities may have negative effects on their value, such as competition or government regulation. Also, the factors for which the company was selected for inclusion in a client portfolio may change, for example, due to changes in management, new product introductions, or lawsuits. Risk of Loss Clients need to be aware that investing in securities involves risk of loss that clients need to be prepared to bear. While the stock market may increase and your account(s) could enjoy a gain, it is also possible that the stock market may decrease, and your account(s) could suffer a loss. It is important that you understand the risks associated with investing in the stock market, are appropriately diversified in your investments, and ask us any questions you may have. Item 9: Disciplinary Information Neither MAA nor its management persons have had any legal or disciplinary events, currently or in the past. Neither MAA nor its management persons have been subject to any criminal or civil actions, administrative proceedings, or self-regulatory organization proceedings. ADV Part 2 – Firm Brochure Page 9 Maine Advisory Associates  Item 10: Other Financial Industry Activities & Affiliations Neither MAA nor any of its management persons are registered, or have an application pending to register, as a broker-dealer or registered representative of a broker-dealer. Neither MAA nor any of its management persons are registered or have an application pending to register, as a futures commission merchant, commodity pool operator, a commodity trading advisor, or an associated person of the foregoing entities. MAA does not currently have any relationships or arrangements that are material to its advisory business or clients with either a broker-dealer, municipal securities dealer, or government securities dealer or broker, investment company or other pooled investment vehicle (including a mutual fund, closed-end investment company, unit investment trust, private investment company or “hedge fund” and offshore fund), other investment advisor or financial planner, futures commission merchant, commodity pool operator, or commodity trading advisor, banking or thrift institution, accountant or accounting firm, lawyer or law firm, insurance company or agency, pension consultant, real estate broker or dealer or sponsor of syndicator of limited partnerships. MAA does not recommend or select other investment advisers for clients. Item 11: Code of Ethics, Participation or Interest in Client Transactions & Personal Trading MAA is a state licensed investment adviser licensed with the State of Maine securities regulators, registered with the New Hampshire state securities regulators, has a registration pending with the U.S. Securities and Exchange Commission (SEC), and has adopted as an industry best practice a Code of Ethics that sets forth the basic policies of ethical conduct for all managers, officers, and employees of the adviser. An investment adviser is considered a fiduciary and our firm has a fiduciary duty to all clients. As a fiduciary, it is an investment adviser’s responsibility to provide fair and full disclosure of all material facts and to act solely in the best interest of each of our clients at all times. Our fiduciary duty is considered the core underlying principle for our Code of Ethics which also includes Insider Trading and Personal Securities Transactions Policies and Procedures. If a client or a potential client wishes to review our Code of Ethics in its entirety, a copy will be provided upon request. We recognize that the personal investment transactions of members and employees of our firm demand the application of a high Code of Ethics and require that all such transactions be carried out in a way that does not endanger the interest of any client. At the same time, we believe that if investment goals are similar for clients and for members and employees of our firm, it is logical and even desirable that there be common ownership of some securities. Therefore, in order to prevent conflicts of interest, we have in place a set of procedures (including a pre- clearing procedure) with respect to transactions effected by our members, officers, and employees for their personal accounts1. In order to monitor compliance with our personal trading policy, we have a quarterly securities transaction reporting system. Upon employment or affiliation and at least annually 1 For purposes of the policy, our associate’s personal account generally includes any account (a) in the name of our associate, his/her spouse, his/her minor children or other dependents residing in the same household, (b) for which our associate is a trustee or executor, or (c) which our associate controls, including our client accounts which our associate controls and/or a member of his/her household has a direct or indirect beneficial interest in. ADV Part 2 – Firm Brochure Page 10 Maine Advisory Associates  thereafter, all supervised persons will sign an acknowledgement that they have read, understand, and agree to comply with our Code of Ethics. MAA does not recommend to clients, or buy or sell for client accounts, securities in which the firm or a related person has a material financial interest. MAA and/or its investment adviser representatives may from time-to-time purchase or sell products that they may also recommend to clients. This practice creates conflicts of interest in that personnel of MAA can take advantage of the advance knowledge of firm securities trading and trade their personal accounts ahead of the client trades or recommend trades in client accounts that may affect the price of the securities owned by the Investment Adviser Representatives. To mitigate these conflicts, MAA has adopted a Code of Ethics that sets forth the basic policies of ethical conduct for all managers, officers, and employees of the adviser. In addition, the Code of Ethics governs personal trading by each employee of MAA deemed to be an Access Person and is intended to ensure that securities transactions effected by Access Persons of MAA are conducted in a manner that avoids any actual or potential conflict of interest between such persons and clients of the adviser or its affiliates. MAA collects and maintains records of securities holdings and securities transactions effected by Access Persons. These records are reviewed quarterly by the Chief Compliance Officer to identify and resolve potential conflicts of interest. MAA’s Code of Ethics is available upon request. Finally, supervised persons of registered investment advisers are fiduciaries by law and are required to put the client’s interest before those of the firm and themselves. MAA requires that its investment adviser representatives follow its basic policies and ethical standards as set forth in the Code of Ethics. Investment adviser representatives of MAA may trade for their own accounts securities that are being traded for client accounts at or around the same time. To mitigate the conflict of interest in such circumstances, MAA’s policy is to require the trading of all relevant client accounts prior to trading of their own accounts. The Chief Compliance Officer examines personal trading activities of MAA’s personnel to verify compliance with this policy. Item 12: Brokerage Practices The Custodian and Brokers We Use Our firm does not maintain custody of your assets (although we may be deemed to have custody of your assets if you give us authority to withdraw assets from your account (see Item 15 - Custody, below). Your assets must be maintained in an account at a “qualified custodian,” generally a broker- dealer or bank. We recommend that our clients use Charles Schwab & Co., Inc. (“Schwab”), a FINRA- registered broker-dealer, member SIPC, as the qualified custodian. We are independently owned and operated and not affiliated with Schwab. Schwab will hold your assets in a brokerage account and buy and sell securities when we instruct them to. While we recommend that you use Schwab as custodian/broker, you will decide whether to do so and open your account with Schwab by entering into an account agreement directly with them. Even though your account is maintained at Schwab, we can still use other brokers to execute trades for your account, as described in the next paragraph. ADV Part 2 – Firm Brochure Page 11 Maine Advisory Associates  How We Select Brokers/Custodians to Recommend We seek to recommend a custodian/broker who will hold your assets and execute transactions on terms that are overall most advantageous when compared to other available providers and their services. We consider a wide range of factors, including, among others, these: • • • combination of transaction execution services along with asset custody services (generally without a separate fee for custody); capability to execute, clear and settle trades (buy and sell securities for your account); capability to facilitate transfers and payments to and from accounts (wire transfers, check requests, bill payment, etc.); • breadth of investment products made available (stocks, bonds, mutual funds, exchange traded funds (ETFs), etc.); • availability of investment research and tools that assist us in making investment decisions • quality of services; competitiveness of the price of those services (commission rates, margin interest rates, other fees, etc.) and willingness to negotiate them; reputation, financial strength, and stability of the provider; their prior service to us and our other clients; and • • • availability of other products and services that benefit us, as discussed below (see “Products and Services Available to us from Schwab”). Custody & Brokerage Costs For our clients’ accounts it maintains, Schwab generally does not charge you separately for custody services but is compensated by charging you commissions or other fees on trades that it executes or that settle into your Schwab account. For some accounts, Schwab may charge you a percentage of the dollar amount of assets in the account in lieu of commissions. Schwab’s commission rates and/or asset-based fees applicable to our client accounts were negotiated based on our commitment to maintain a minimum threshold of our clients’ assets statement equity in accounts at Schwab. This commitment benefits you because the overall commission rates and/or asset-based fees you pay are lower than they would be if we had not made the commitment. In addition to commissions or asset- based fees Schwab charges you a flat dollar amount as a “prime broker” or “trade away” fee for each trade that we have executed by a different broker-dealer but where the securities bought or the funds from the securities sold are deposited (settled) into your Schwab account. These fees are in addition to the commissions or other compensation you pay the executing broker-dealer. Because of this, in order to minimize your trading costs, we have Schwab execute most trades for your account. Products & Services Available to Us from Schwab Schwab Advisor Services (formerly called Schwab Institutional) is Schwab’s business serving independent investment advisory firms like us. They provide us and our clients with access to its institutional brokerage – trading, custody, reporting and related services – many of which are not typically available to Schwab retail customers. Schwab also makes available various support services. Some of those services help us manage or administer our clients’ accounts while others help us manage and grow our business. Schwab’s support services are generally available on an unsolicited basis (we don’t have to request them) and at no charge to us as long as we keep a total of at least $10 million of our clients’ assets in accounts at Schwab. If we have less than $10 million in client assets at Schwab, it may charge us quarterly service fees. Here is a more detailed description of Schwab’s support services: ADV Part 2 – Firm Brochure Page 12 Maine Advisory Associates  Services that Benefit You Schwab’s institutional brokerage services include access to a broad range of investment products, execution of securities transactions, and custody of client assets. The investment products available through Schwab include some to which we might not otherwise have access or that would require a significantly higher minimum initial investment by our clients. Schwab’s services described in this paragraph generally benefit you and your account. Services that May Not Directly Benefit You Schwab also makes available to us other products and services that benefit us but may not directly benefit you or your account. These products and services assist us in managing and administering our clients’ accounts. They include investment research, both Schwab’s own and that of third parties. We may use this research to service all or some substantial number of our clients’ accounts, including accounts not maintained at Schwab. In addition to investment research, Schwab also makes available software and other technology that: • provide access to client account data (such as duplicate trade confirmations and account statements); facilitate trade execution and allocate aggregated trade orders for multiple client accounts; facilitate payment of our fees from our clients’ accounts; and • • provide pricing and other market data; • • assist with back-office functions, recordkeeping, and client reporting. Services that Generally Benefit Only Us Schwab also offers other services intended to help us manage and further develop our business enterprise. These services include: technology, compliance, legal, and business consulting; • educational conferences and events; • • publications and conferences on practice management and business succession; and • access to employee benefits providers, human capital consultants and insurance providers. Schwab may provide some of these services itself. In other cases, it will arrange for third-party vendors to provide the services to us. Schwab may also discount or waive its fees for some of these services or pay all or a part of a third party’s fees. Schwab may also provide us with other benefits such as occasional business entertainment of our personnel. Irrespective of direct or indirect benefits to our client through Schwab, we strive to enhance your experience, help you reach your goals and put your interests before that of our firm or its associated persons. Directed Brokerage MAA does not authorize clients to direct brokerage. Aggregation of Purchase or Sale MAA may combine orders into block trades when more than one account is participating in the trade. This blocking or bunching technique must be equitable and potentially advantageous for each such account (e.g. for the purposes of reducing brokerage commissions or obtaining a more favorable execution price). Block trading is performed when it is consistent with the duty to seek best execution and is consistent with the terms of MAA’s investment advisory agreements. Equity trades are blocked based upon fairness to client, both in the participation of their account, and in the allocation of orders ADV Part 2 – Firm Brochure Page 13 Maine Advisory Associates  for the accounts of more than one client. Allocations of all orders are performed in a timely and efficient manner. All managed accounts participating in a block execution receive the same execution price (average share price) for the securities purchased or sold in a trading day. Any portion of an order that remains unfilled at the end of a given day will be rewritten on the following day as a new order with a new daily average price to be determined at the end of the following day. Due to the low liquidity of certain securities, broker availability may be limited. Open orders are worked until they are completely filled, which may span the course of several days. If an order is filled in its entirety, securities purchased in the aggregated transaction will be allocated among the accounts participating in the trade in accordance with the allocation statement. If an order is partially filled, the securities will be allocated pro rata based on the allocation statement. MAA may allocate trades in a different manner than indicated on the allocation statement (non-pro rata) only if all managed accounts receive fair and equitable treatment. Item 13: Review of Accounts or Financial Plans We review client accounts on an annual basis, or when conditions would warrant a review based on market conditions or changes in client circumstances. Triggering factors may include MAA becoming aware of a change in client’s investment objective, a change in market conditions, change of employment, or a change in recommended asset allocation weightings in the account that exceed a predefined guideline. The nature of these reviews is to learn whether clients’ accounts are in line with their investment objectives, appropriately positioned based on market conditions, and investment policies, if applicable. Client accounts are reviewed by Kimberly Volk, President and Managing Member, Chief Compliance Officer, and Investment Adviser Representative. The client is encouraged to notify MAA and investment adviser representatives if changes occur in his/her personal financial situation that might materially affect his/her investment plan. The client will receive written statements no less than quarterly from the qualified custodian. In addition, the client will receive other supporting reports from mutual funds, asset managers, trust companies or other custodians, broker-dealers and others who are involved with client accounts. We deliver separate written reports to clients on an annual basis. Financial Consulting clients will not receive a written report. We are willing to meet with such clients upon their request to discuss updates, changes in their circumstances, etc. Item 14: Client Referrals & Other Compensation MAA is not compensated by anyone for providing investment advice or other advisory services except as previously disclosed in this Brochure. MAA does not directly or indirectly compensate any person who is not a supervised person for client referrals. Item 15: Custody MAA does not have custody of client funds or securities, except for the withdrawal of advisory fees directly from client accounts (please see Item 5, which describes the safeguards around direct fee deduction). However, as noted in Item 13 above, clients will receive statements not less than ADV Part 2 – Firm Brochure Page 14 Maine Advisory Associates  quarterly from the qualified custodian, and we encourage you to review those statements carefully. Any discrepancies should be immediately brought to the firm’s attention. We encourage our clients to raise any questions with us about the custody, safety, or security of their assets. The custodians we do business with will send you independent account statements listing your account balance(s), transaction history and any fee debits or other fees taken out of your account. Item 16: Investment Discretion MAA generally has discretion over the selection and amount of securities to be bought or sold in client accounts without obtaining prior consent or approval from the client for each transaction. However, these purchases or sales may be subject to specified investment objectives, guidelines, or limitations previously set forth by the client and agreed to by MAA. Discretionary authority will only be provided upon full disclosure to the client. The granting of such authority will be evidenced by the client’s execution of an investment advisory agreement containing all applicable limitations to such authority. All discretionary trades made by MAA will be in accordance with each client’s investment objectives and goals. Item 17: Voting Client Securities MAA will not vote, nor advise clients how to vote, proxies for securities held in client accounts. The client clearly keeps the authority and responsibility for the voting of these proxies. Also, MAA cannot give any advice or take any action with respect to the voting of these proxies. The client and MAA agree to this by contract. Clients will receive proxy solicitations from their custodian and/or transfer agent. Item 18: Financial Information MAA does not require or solicit prepayment of more than $500 in fees per client, six months or more in advance, and is not required to file a balance sheet. MAA has never been subject to a bankruptcy petition. Item 19: Requirements for State-Registered Advisers Kimberly L. Volk, President and Managing Member | Year of Birth: 1962 Educational Background: • 1985: Anderson University; Bachelor of Arts in Communications & Economics • 2009: American Bankers Association; Certified Trust & Financial Advisor • 2013: St. Joseph’s College; Master’s in Business Administration Business Background: • 03/2020 – Present Volk Financial LLC dba Maine Advisory Associates; President and Managing Member, Chief Compliance Officer, Investment Adviser Representative • 01/2020 – 01/2021 Maine Advisory Associates, Inc.; Chief Executive Officer, Chief Compliance Officer, Investment Adviser Representative ADV Part 2 – Firm Brochure Page 15 Maine Advisory Associates  • 03/2011 – 01/2020 Aurora Financial Group, LLC; Vice President, Chief Compliance Officer, Investment Adviser Representative Spinnaker Trust; Chief Financial Officer • 08/2007 – 10/2010 • 01/1991 – 12/2007 Monument Way, Inc.; President • 01/2006 – 01/2021 Volk Management Systems; President MAA is not engaged in any other business other than giving investment advice. We do not charge performance-based fees. Management of MAA has not been found liable in any arbitration, civil or disciplinary actions or administrative proceedings. There are no material relationships maintained by MAA or its management persons with any issuers of securities. ADV Part 2 – Firm Brochure Page 16 Maine Advisory Associates  Item 1: Cover Page for Brochure Supplement Part 2B of Form ADV April 14, 2026 Kimberly Volk, MBA President and Managing Member Maine Advisory Associates 358 U.S. Route 1, Suite 101 Falmouth, ME 04105 (207) 778-2250 This Brochure Supplement provides information about Kimberly Volk that supplements the Maine Advisory Associates brochure. You should have received a copy of that brochure. Please contact Kimberly Volk, President and Managing Member, if you did not receive Maine Advisory Associates’ brochure or if you have any questions about the contents of this supplement. Additional information about Kimberly Volk is available on the SEC’s website at www.adviserinfo.sec.gov. ADV Part 2 – Firm Brochure Page 17 Maine Advisory Associates  Item 2: Education, Background & Business Experience Kimberly L. Volk, President and Managing Member | Year of Birth: 1962 Educational Background: • 1985: Anderson University; Bachelor of Arts in Communications & Economics • 2009: American Bankers Association; Certified Trust & Financial Advisor • 2013: St. Joseph’s College; Master’s in Business Administration Business Background: • 03/2020 – Present Volk Financial LLC dba Maine Advisory Associates; President and Managing Member, Chief Compliance Officer, Investment Adviser Representative • 01/2020 – 01/2021 Maine Advisory Associates, Inc.; Chief Executive Officer, Chief Compliance Officer, Investment Adviser Representative • 03/2011 – 01/2020 Aurora Financial Group, LLC; Vice President, Chief Compliance Officer, Investment Adviser Representative Spinnaker Trust; Chief Financial Officer • 08/2007 – 10/2010 • 01/1991 – 12/2007 Monument Way, Inc.; President • 01/2006 – 01/2021 Volk Management Systems; President Item 3: Disciplinary Information There are no legal or disciplinary events or proceedings to report concerning Ms. Volk. Item 4: Other Business Activities Ms. Volk is a Board Member and a member of the Finance Committee for the Maine Jewish Film Festival, a non-profit organization. The position is uncompensated, and no investment assets are managed. Ms. Volk is also a member of the Financial Planning Association, the American Banking Association, and the Maine Estate Planning Council. Item 5: Additional Compensation Ms. Volk does not receive compensation or other economic benefit from anyone who is not a client for providing advisory services. Item 6: Supervision Kimberly Volk, Chief Compliance Officer, monitors the investment advisory activities, personal investing activities, and adherence to MAA’s compliance program and Code of Ethics of the MAA supervised persons on a continuous basis using various methods, including periodic inspection and review of client securities positions and transaction activity, obtaining certifications of compliance with company policies and procedures from those supervised, and obtaining and reviewing brokerage statements or transactions and holdings reports of the supervised persons. Ms. Volk may be reached at (207) 778-2250. ADV Part 2 – Firm Brochure Page 18 Maine Advisory Associates  Item 7: Requirements for State-Registered Advisors Ms. Volk has not been involved in an award or found liable in an arbitration claim, civil, or self- regulatory organization event or administrative proceeding, or been the subject of a bankruptcy petition. ADV Part 2 – Firm Brochure Page 19 Maine Advisory Associates  Item 1: Cover Page for Brochure Supplement Part 2B of Form ADV April 14, 2026 Michelle Lamb, CFP® Investment Adviser Representative Maine Advisory Associates 358 U.S. Route 1, Suite 101 Falmouth, ME 04105 (207) 778-2250 This Brochure Supplement provides information about Michelle Lamb that supplements the Maine Advisory Associates brochure. You should have received a copy of that brochure. Please contact Kimberly Volk, President and Managing Member, if you did not receive Maine Advisory Associates’ brochure or if you have any questions about the contents of this supplement. Additional information about Michelle Lamb is available on the SEC’s website at www.adviserinfo.sec.gov.  Item 2: Education, Background & Business Experience Michelle Lamb | Year of Birth: 1980 Educational Background: • 2002: Brown University; Bachelor of Arts in Linguistic Anthropology • 2020: Boston University; Certificate in Financial Planning • 2020: eMoney Advisor Certification Business Background: • 11/2020 – Present Volk Financial LLC dba Maine Advisory Associates; Investment Adviser Representative • 03/2020 – 01/2021 Maine Advisory Associates, Inc.; Investment Adviser Representative • 05/2019 – 03/2020 Cornerstone Financial Planning, LLC; Investment Adviser Representative • 04/2017 – 05/2019 Aurora Financial Group, LLC; Equity Analyst and Investment Adviser Student; CFA Candidate Representative • 11/2016 – 03/2017 • 01/2014 – 10/2016 Atlantic Trust; Equity Analyst • 03/2012 – 12/2014 Three M Properties, LLC; Manager, Partner • 08/2008 – 12/2014 GMI Ratings; Senior Research Associate • 08/2004 – 08/2008 The Corporate Library; Quality Control Analyst & Data Operations Officer Ms. Lamb is a Certified Financial Planner. The Certified Financial Planner™, CFP® and federally registered CFP (with flame design) marks (collectively, the “CFP® marks”) are professional certification marks granted in the United States by Certified Financial Planner Board of Standards, Inc. (“CFP Board”). The CFP® certification is a voluntary certification; no federal or state law or regulation requires financial planners to hold CFP® certification. It is recognized in the United States and a number of other countries for its (1) high standard of professional education; (2) stringent code of conduct and standards of practice; and (3) ethical requirements that govern professional engagements with clients. Currently, more than 62,000 individuals have obtained CFP® certification in the United States. To attain the right to use the CFP® marks, an individual must satisfactorily fulfill the following requirements: • Education – Complete an advanced college-level course of study addressing the financial planning subject areas that CFP Board’s studies have determined as necessary for the competent and professional delivery of financial planning services, and attain a Bachelor’s Degree from a regionally accredited United States college or university (or its equivalent from a foreign university). CFP Board’s financial planning subject areas include insurance planning and risk management, employee benefits planning, investment planning, income tax planning, retirement planning, and estate planning; • Examination – Pass the comprehensive CFP® Certification Examination. The examination, administered in 10 hours over a two-day period, includes case studies and client scenarios designed to test one’s ability to correctly diagnose financial planning issues and apply one’s knowledge of financial planning to real world circumstances; ADV Part 2 – Firm Brochure Page 21 Maine Advisory Associates  • Experience – Complete at least three years of full-time financial planning-related experience (or the equivalent, measured as 2,000 hours per year); and • Ethics – Agree to be bound by CFP Board’s Standards of Professional Conduct, a set of documents outlining the ethical and practice standards for CFP® professionals. Individuals who become certified must complete the following ongoing education and ethics requirements in order to maintain the right to continue to use the CFP® marks: • Continuing Education – Complete 30 hours of continuing education hours every two years, including two hours on the Code of Ethics and other parts of the Standards of Professional Conduct, to maintain competence and keep up with developments in the financial planning field; and • Ethics – Renew an agreement to be bound by the Standards of Professional Conduct. The Standards prominently require that CFP® professionals provide financial planning services at a fiduciary standard of care. This means CFP® professionals must provide financial planning services in the best interests of their clients. CFP® professionals who fail to comply with the above standards and requirements may be subject to CFP Board’s enforcement process, which could result in suspension or permanent revocation of their CFP® certification. Item 3: Disciplinary Information There are no legal or disciplinary events or proceedings to report concerning Ms. Lamb. Item 4: Other Business Activities Ms. Lamb is not actively engaged in any investment-related or non-investment-related business or occupation outside of MAA. Item 5: Additional Compensation Ms. Lamb does not receive compensation or other economic benefit from anyone who is not a client for providing advisory services. Item 6: Supervision Kimberly Volk, Chief Compliance Officer, monitors the investment advisory activities, personal investing activities, and adherence to MAA’s compliance program and Code of Ethics of the MAA supervised persons on a continuous basis using various methods, including periodic inspection and review of client securities positions and transaction activity, obtaining certifications of compliance with company policies and procedures from those supervised, and obtaining and reviewing brokerage statements or transactions and holdings reports of the supervised persons. Ms. Volk may be reached at (207) 778-2250. ADV Part 2 – Firm Brochure Page 22 Maine Advisory Associates  Item 7: Requirements for State-Registered Advisors Ms. Lamb has not been involved in an award or found liable in an arbitration claim, civil, or self- regulatory organization event or administrative proceeding, or been the subject of a bankruptcy petition. ADV Part 2 – Firm Brochure Page 23 Maine Advisory Associates