Rb Capital Management, LLC

PART 2A ITEM 1: COVER SHEET RB Capital Management, LLC 5365 Reno Corporate Dr., Suite 200 Reno, NV 89511 (775) 993-2900 www.rbcapitalmanagement.com January 27, 2026 This brochure provides information about the qualifications and business practices of RB Capital Management, LLC. If you have any questions about the contents of this brochure, please contact us at the telephone number and/or e-mail address above. The information in this brochure has not been approved or verified by the United States Securities and Exchange Commission or any state securities authority. Our e-mail for regulatory compliance is info@rbcapitalmanagement.com. RB Capital Management, LLC is a registered investment advisor. Registration of an investment advisor does not imply any level of skill or training. The verbal and written communications of an investment adviser provide you with information you need to determine whether to hire or retain the advisor. Additional information about RB Capital Management, LLC is also available on the SEC’s website at www.adviserinfo.sec.gov.  PART 2A ITEM 2: MATERIAL CHANGES RB Capital Management, LLC Our previous annual update was dated January 31, 2025. Following is a summary of the material changes made to Part 2 since that amendment. Item 4: As of December 31, 2025, we have $930.6 million in discretionary assets under management. Please contact us at (559) 478-2565 or shawn@rbcapitalmanagement.com if you would like a copy of our updated Part 2. Additional information about us is also available on the SEC’s website at www.adviserinfo.sec.gov.  ITEM 3 TABLE OF CONTENTS Item 1: Cover Sheet Item 2: Material Changes Item 3: Table of Contents Item 4: Advisory Business ........................................................................................................................... 1 Who we Are .............................................................................................................................................. 1 Services We Offer..................................................................................................................................... 1 Assets Under Management ....................................................................................................................... 2 Item 5: Fees and Compensation ................................................................................................................... 2 Investment Management Services............................................................................................................. 2 Financial Planning..................................................................................................................................... 3 Other Costs Involved ................................................................................................................................ 3 Item 6: Performance-Based Fees and Side-By-Side Management .............................................................. 4 Item 7: Types of Clients............................................................................................................................... 4 Item 8: Methods of Analysis, Investment Strategies and Risk of Loss........................................................ 4 Item 9: Disciplinary Information ................................................................................................................. 4 Item 10: Other Financial Industry Activities and Affiliations ..................................................................... 5 Item 11: Code of Ethics, Participation or Interest in Client Transactions and Personal Trading ................ 5 Code of Ethics........................................................................................................................................... 5 Personal Trading for Associated Persons.................................................................................................. 5 Item 12: Brokerage Practices ....................................................................................................................... 6 The Custodian and Brokers We Use ......................................................................................................... 6 How We Select Brokers/Custodians to Recommend................................................................................ 6 Your Brokerage and Custody Costs.......................................................................................................... 6 Products and Services Available to Us From Schwab .............................................................................. 7 Aggregation of Orders .............................................................................................................................. 8 Directed Brokerage ................................................................................................................................... 8 Soft Dollars ............................................................................................................................................... 8 Item 13: Review of Accounts....................................................................................................................... 9 Item 14: Client Referrals and Other Compensation..................................................................................... 9 Item 15: Custody........................................................................................................................................ 10 Item 16: Investment Discretion.................................................................................................................. 10 Item 17: Voting Client Securities............................................................................................................... 10 Item 18: Financial Information .................................................................................................................. 11  ITEM 4: ADVISORY BUSINESS Who we Are RB Capital Management, LLC (referred to as “we,” “our,” “us,” or “RB Capital”) has been registered as an investment advisor since August 2000. Our principal owner and officer is Robert W. Ballan. Services We Offer Investment Management RB Capital Management LLC is a fee-based investment advisor specializing in hedged strategies and managed fixed-income portfolios. Our goal is to maximize your return while limiting your risk by developing diversified, personalized portfolios. The firm is led by principal and founder Rob Ballan who brings 30+ years of professional investment expertise. Rob is responsible for the overall performance of RB Capital Management. He has designed portfolios hedging equity portfolios and created bond portfolios to meet changing economic conditions. Our current assets under management total more than $930 million. This includes portfolios for individuals, businesses, trusts, and foundations.  Asset allocation and diversification is the core of our investment practices.  We distribute wealth amongst a range of economic sectors, investment instruments and hedging strategies.  Due diligence is performed on all investments with continuous monitoring.  Client-focused personalized portfolios reflect each client’s goals, age, financial situation, tax consequences and risk tolerance.  Client’s portfolios are continually fine tuned as warranted by changing global market conditions.  Our fee is based on account balance, our firm prospers as our clients’ assets grow. Clients can dictate whether they want to avoid certain industry groups. Clients can also deposit shares into an account and can direct us not to sell and initiate a hedge strategy on that particular position. Financial Planning Services Financials plans take into account the following factors: Financial Situation Financial Goals  Age  Risk Tolerance  Tax Bracket  Total Wealth  Account Type    Cost Basis of Current Holdings  Current Holdings the Client Wishes to Keep Page 1  RB Capital Management Wrap Program We act as the sponsor and portfolio manager to the RB Capital Management Wrap Program (“Wrap Program”). In this instance, RB Capital is considered to be the sponsor of the Wrap Program because you pay one fee which includes all advisory fees and transaction costs. We provide all portfolio management services and receive all compensation for the wrap program. The majority of clients who receive Investment Management services as described above are part of the Wrap Program. Paying fees as part of a Wrap Program could cost you more or less than purchasing investment management and brokerage services separately. If you elect to direct RB Capital to use a broker/dealer other than Charles Schwab & Co., Inc. you will not participate in the Wrap Program and are responsible for paying all transaction costs related to trades placed in your account. RB Capital also acts as a subadvisor to other investment advisors. Accounts that RB Capital acts as subadvisor to also do not participate in the Wrap Program. Assets Under Management As of December 31, 2025, we have $930.6 million in discretionary assets under management. ITEM 5: FEES AND COMPENSATION Investment Management Services Fees for investment management services are calculated as a percentage of assets under management. These fees are billed quarterly in arrears, based on the assets under management as of the last day of the calendar quarter. Fees are based on the following schedules: Long Equities Account Value Up to $100,000 $100,001 to $250,000 $250,001 to $500,000 $500,001 to $1,000,000 $1,000,001+ Annual Fee 1.75% 1.50% 1.25% 1.00% 0.75% Fixed Income Account Value Up to $1,000,000 $1,000,001 to $2,500,000 $2,500,001 to $5,000,000 $5,000,001+ Annual Fee 0.75% 0.50% 0.40% 0.35% Hedging Strategies Account Value Up to $100,000 $100,001 to $250,000 $250,001 to $500,000 $500,001 to $1,000,000 $1,000,001+ Annual Fee 2.50% 2.00% 1.75% 1.50% 1.25% Page 2  The fees shown above represent our basic fee schedule; however, fees may be negotiable in certain limited circumstances and arrangements with any particular client may vary. We consider asset size and investment strategy when negotiating fees. Financial planning services are included in the above fees. You may end our advisory relationship by providing 30 days written notice. We will prorate the advisory fees earned through the termination date and send you an invoice for the advisory fees due. For investment management accounts, we require that you provide authorization for us to deduct our fees directly from your investment account in accordance with following process :  You must provide authorization for us to pull fees by initialing the appropriate section of our investment management agreement.  You will receive a statement from your custodian which shows all transactions in your account, including the deduction of our fee.  You are responsible for reviewing the accuracy of the fees being billed, as the custodian will not do so. Financial Planning Financial planning services for clients who do not receive investment management services are provided for an hourly fee of $250. You will receive an invoice upon completion of the financial plan that is payable upon receipt. You may pay for financial planning services by check or cash. You may cancel our financial planning agreement at any time by providing written notice. Upon cancellation, we will present you with an invoice for time spent. This invoice is payable upon receipt. We have a conflict of interest when providing financial planning advice. If you decide to implement the advice given in the financial plan through RB Capital, we are paid for investment management services as disclosed above. You are not required to employ us to implement the financial plan, or to implement the plan, or any portion of it, at all. Other Costs Involved In addition to our advisory fees shown above, expenses associated with making investments on behalf of the clients will also be incurred. These fees include:  mutual fund loads (if applicable). These charges are paid to brokers as a form of commission.  management fees for ETFs and mutual funds. These are fees charged by the managers of the ETF or mutual fund and are a portion of the expenses of the ETF or mutual fund.  brokerage costs and transaction fees for any securities or fixed income trades. These are generally charged by your custodian and/or executing broker. Additional information about brokerage costs and services is provided in “Item 12: Brokerage Practices.” Page 3  Several individuals who provide investment advice to our clients are also affiliated with various insurance agencies. If you elect to implement insurance recommendations through one of these individuals, that person will receive the normal and customary commissions. In these situations, a conflict of interest exists between the interests of the client and RB Capital. In these instances, these individuals have an incentive to recommend products based on the compensation they receive, rather than on client’s needs. Clients of RB Capital are under no obligation to implement insurance recommendations through one of these individuals. Clients may purchase insurance products and services from individuals other than those affiliated with RB Capital. ITEM 6: PERFORMANCE-BASED FEES AND SIDE-BY-SIDE MANAGEMENT We do not charge performance based fees to any of our clients. ITEM 7: TYPES OF CLIENTS RB Capital serves high net worth individuals, corporations, foundations, retirement plans and trusts. ITEM 8: METHODS OF ANALYSIS, INVESTMENT STRATEGIES AND RISK OF LOSS The investment process begins with a client interview. Together, we complete and Investment Risk Questionnaire. We then use this information combined with supplemental information gleaned from client meetings to create an appropriate Asset Allocation. Next, a Client Action Plan is prepared with specific investments, allocation percentages and any changes we propose in the client's current portfolio holdings. Our investment plans are designed for the long term and do not incorporate any market timing approaches. We use a combination of Fixed Income, Equities, and Alternative Investments such as Precious Metals, Real Estate, and Commodities. We currently manage all assets in house and do not use sub-advisors. We design and implement Fixed Income portfolios with a combination of Long and Hedged Equity. The Hedged Equity is in the form of Covered Call Writing on individual equity positions. Covered Call Writing is a conservative option strategy that is viewed by the Options Clearing Corp as even more conservative than holding a stock long. We recommend custom Fixed Income for most of our clients. There is credit risk as well as interest rate risks involved when investing in bonds. We design custom portfolios for each client's individualized goals to guard against significant interest rate and credit risk. All investments involve different degrees of risk. You should be aware of your risk tolerance level and financial situations at all times. We cannot guarantee the successful performance of an investment and we are expressly prohibited from guaranteeing accounts against losses arising from market conditions. ITEM 9: DISCIPLINARY INFORMATION Registered investment advisors are required to disclose any material facts regarding any legal or disciplinary actions that would be material to your evaluation of the investment advisor and each Page 4  investment advisor representative providing investment advice to you. We have no information of this type to report. ITEM 10: OTHER FINANCIAL INDUSTRY ACTIVITIES AND AFFILIATIONS RB Capital and its principals/owners do not have any additional outside business activities in the financial industry. However, some investment advisor representatives do have affiliations with broker/dealers that are not material to clients of RB Capital. Disclosure regarding these relationships is provided on Part 2B for the individuals. In addition to the above, some investment advisor representatives sell insurance products for several insurance companies. Please see Item 5: Fees and Compensation, for additional information. ITEM 11: CODE OF ETHICS, PARTICIPATION OR INTEREST IN CLIENT TRANSACTIONS AND PERSONAL TRADING Code of Ethics We have adopted a set of enforceable guidelines (Code of Ethics), which describes unacceptable conduct by RB Capital and our associated persons. Summarized, this Code of Ethics prohibits us from: placing our interests before yours,  using non public information gathered when providing services to you for our own gains, or   engaging in any act, practice or course of business that is, or might be considered, fraudulent, deceptive, manipulative, or in violation of any applicable law, rule or regulation of a governmental agency. Please contact us if you would like to receive a full copy of this Code of Ethics. Personal Trading for Associated Persons We may buy or sell some of same securities for you that we already hold in our personal account. We may also buy for our personal account some of the same securities that you already hold in your account. It is our policy not to permit our associated persons (or their immediate relatives) to trade in a way that takes advantage of price movements caused by your transactions. We may restrict trading for a particular security for our accounts or those of our associated person if there is a pending trade in that security in a client account. Trades for our accounts (and those of our associated persons) will be placed as part of a block trade with client trades, or individually after client trades have been completed. Additional information about block trades is provided in “Item 12: Brokerage Practices.” When our trades are placed after our client trades, we may receive a better or worse price than that received by the client. All persons associated with us are required to report all personal securities transactions to us quarterly. Page 5  ITEM 12: BROKERAGE PRACTICES The Custodian and Brokers We Use We do not maintain custody of your assets that we manage, 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”). 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 are 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 will open your account with Schwab by entering into an account agreement directly with them. We do not open the account for you, although we may assist you in doing so. 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. How We Select Brokers/Custodians to Recommend We seek to recommend a custodian/broker that will hold your assets and execute transactions on terms that are, overall, most advantageous when compared with other available providers and their services. We consider a wide range of factors, including:  Combination of transaction execution services and 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 available investment products (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 the prices  Reputation, financial strength, security and stability Prior service to us and our other clients   Availability of other products and services that benefit us, as discussed below (see “Products and Services Available to Us From Schwab”) The above disclosures also apply to our relationship with Pershing. RB Capital is in the process of moving client accounts from Pershing to Schwab. Your Brokerage and Custody Costs For our clients’ accounts that Schwab 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. Certain trades (for example, many mutual funds and ETFs) may Page 6  not incur Schwab commissions or transaction fees. Schwab is also compensated by earning interest on the uninvested cash in your account in Schwab’s Cash Features Program. This commitment benefits you because the overall commission rates you pay are lower than they would be otherwise. In addition to commissions, 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. We have determined that having Schwab execute most trades is consistent with our duty to seek “best execution” of your trades. Best execution means the most favorable terms for a transaction based on all relevant factors, including those listed above (see “How We Select Brokers/Custodians”). Products and Services Available to Us From Schwab Schwab Advisor Services™ is Schwab’s business serving independent investment advisory firms like us. They provide our clients and us with access to their institutional brokerage services (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. Following is a more detailed description of Schwab’s support services: 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 a 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  Provide pricing and other market data  Facilitate payment of our fees from our clients’ accounts   Assist with back-office functions, recordkeeping, and client reporting  Marketing consulting and support Page 7  Our Interest in Schwab’s Services The availability of these services from Schwab benefits us because we do not have to produce or purchase them. We don’t have to pay for Schwab’s services. Schwab has also agreed to pay up to $225,000 we would otherwise incur for technology, research, marketing, and compliance consulting products and services once the value of our clients’ assets in accounts at Schwab reaches $400 million. In addition, Schwab will pay up to $120,000 to reimburse clients for exit transfer fees incurred when moving accounts from Pershing to Schwab. This creates an incentive to recommend that you maintain your account with Schwab, based on our interest in receiving Schwab’s services that benefit our business and Schwab’s payment for services for which we would otherwise have to pay rather than based on your interest in receiving the best value in custody services and the most favorable execution of your transactions. This is a potential conflict of interest. We believe, however, that our selection of Schwab as custodian and broker is in the best interests of our clients. Our selection is primarily supported by the scope, quality, and price of Schwab’s services (see “How We Select Brokers/Custodians”) and not Schwab’s services that benefit only us. Aggregation of Orders There are occasions on which portfolio transactions will be executed as part of concurrent authorizations to purchase or sell the same security for a client and/or one or more of our associated persons. We may choose to block (aggregate) trades for your account with those of other client accounts and personal accounts of persons associated with RB Capital. When we place a block trade, all participants included in the block receive the same price per share on the trade. The price is calculated by averaging the price of all of the shares traded. Due to the averaging of price over all of the participating accounts, aggregated trades could be either advantageous or disadvantageous. Commission costs are not averaged. You will pay the same commission whether your trade is placed as part of a block or on an individual basis. The objective of the aggregated orders will be to allocate the executions in a manner that is deemed equitable to the accounts involved. Directed Brokerage You may instruct us to execute any or all securities transactions for your account with or through one or more broker/dealers designated by you. In these cases, you are responsible for negotiating the terms and conditions (including, but not limited to, commission rates) relating to all services to be provided by the broker/dealers and you are satisfied with the terms and conditions. We have no responsibility for obtaining the best prices or any particular commission rates for transactions with or through the broker/dealer in these situations. You recognize that you may not obtain rates as low as you might otherwise obtain if we had discretion to select broker/dealers other than those chosen by you. If you would like us to cease executing transactions with or through the designated broker/dealer you must notify us in writing. Soft Dollars The receipt of goods and/or services from a third party in connection with providing advice to clients could be seen as “soft dollars.” The additional services we receive from Schwab, as disclosed in the section entitled “Products and Services Available to Us From Schwab” above, would fall under this description of soft dollars. Page 8  ITEM 13: REVIEW OF ACCOUNTS Rob Ballan, Chief Investment Officer, reviews the position screens and balances on a daily basis, assisted in this by Jon Donahue and Justin Sloan, both investment adviser representatives, who provide expertise in specific investment areas. In the absence of Mr. Ballan, these reviews will be performed by Jon Donahue, Portfolio Manager, Justin Sloan, Investment Adviser Representative, and or Shawn Young, CCO/COO/Senior Investment Analyst. Additional information about these individuals may be found in the attached Part 2Bs. For investment management clients, Pershing Advisor Solutions and/or Schwab, our custodians, send out monthly statements to all our clients. On certain accounts we use Orion software for performance reports. Financial plans are updated on a regular basis, no less than annually, for investment management clients who receive financial planning services. ITEM 14: CLIENT REFERRALS AND OTHER COMPENSATION We receive an economic benefit from Schwab in the form of the support products and services it makes available to us and other independent investment advisors whose clients maintain their accounts at Schwab. In addition, Schwab has also agreed to pay for certain products and services for which we would otherwise have to pay once the value of our clients’ assets in accounts at Schwab reaches a certain amount. These products and services, how they benefit us, and the related conflicts of interest are described above (see Item 12: Brokerage Practices”). We participate in the Advisor Solutions program sponsored by Pershing. There is no direct link between our participation in the program and the investment advice it gives to you, although we receive economic benefits through our participation in the program that are typically not available to Pershing retail investors. These benefits include the following products and services (provided without cost or at a discount): receipt of duplicate client statements and confirmations;  research related products and tools;  consulting services;  access to a trading desk serving investment advisor participants;   access to block trading (which provides the ability to aggregate securities transactions for execution and then allocate the appropriate shares to client accounts); the ability to have advisory fees deducted directly from client accounts;  access to an electronic communications network for client order entry and account information;  access to mutual funds with no transaction fees and to certain institutional money managers; and   discounts on compliance, marketing, research, technology, and practice management products or services provided to RB Capital by third party vendors. Some of the products and services made available by Pershing through the program may benefit RB Capital but may not benefit its client accounts. These products or services may assist us in managing and administering client accounts, including accounts not maintained at Pershing. The benefits received by Page 9  RB Capital or its personnel through participation in the program do not depend on the amount of brokerage transactions directed to Pershing. As part of its fiduciary duties to clients, we endeavor at all times to put the interests of our clients first. Clients should be aware, however, that our receipt of economic benefits in and of itself creates a potential conflict of interest and may indirectly influence our choice of Pershing for custody and brokerage services. We have engaged solicitors to provide client referrals. We pay these solicitors a portion of the fees we earn for managing the client that was referred. You are not responsible for any part of the compensation Solicitor will receive. If you are referred by a solicitor, this practice will be disclosed in writing and we will comply with the requirements of Rule 206(4)-1, under the Investment Advisers Act of 1940, as amended, and any similar state rule or statute. ITEM 15: CUSTODY If you give us authority to deduct our fees directly from your investment management account, we have custody of those assets. In order to avoid additional regulatory requirements in these cases, we follow the procedures outlined in “Item 5: Fees and Compensation.” You will also receive quarterly statements directly from custodian of the account that details all transactions in the account. For accounts where the client has a standing letter of authorization that allows us to transfer money between accounts specified by the client, we are also deemed to have custody. We follow the guidance outlined in the Investment Adviser Association no-action letter dated February 21, 2017, for these accounts. A copy of this letter is available upon request. ITEM 16: INVESTMENT DISCRETION As one of the conditions of providing investment management services, you are required to provide discretionary authority for us to manage your assets. Discretionary authority means that you are giving us a limited power of attorney to place trades on your behalf. This limited power of attorney does not allow us to withdraw money from your account, other than advisory fees if you agree to give us that authority. You grant us discretionary authority by completing the following items:  Sign a contract with us that provides a limited power of attorney for us to place trades on your behalf. Any limitations to the trading authorization will be added to this agreement.  Provide us with discretionary authority on the new account forms that are submitted to the broker/dealer acting as custodian for your account(s). Clients may place assets in the account that they direct us not to sell. ITEM 17: VOTING CLIENT SECURITIES We do not accept the authority to vote proxies on your behalf and we do not provide guidance about how to vote proxies. You will receive proxies and other related paperwork directly from your custodian. Page 10  ITEM 18: FINANCIAL INFORMATION As a registered investment advisor, we are required to provide you with certain financial information or disclosures about our financial condition. RB Capital has no financial commitment that impairs its ability to meet contractual and fiduciary commitments to clients, has not been the subject of a bankruptcy proceeding, and does not collect fees of $1,200 or more six months or more in advance. Page 11  BROCHURE SUPPLEMENT ITEM 1: COVER SHEET Robert W. Ballan RB Capital Management, LLC 5365 Reno Corporate Dr, Suite 200 Reno, NV 89511 880 Northwood Boulevard, Ste. 2 Incline Village, NV 89451 (775) 993-2900 January 27, 2026 This Brochure Supplement provides information about Robert W. Ballan that supplements the RB Capital Management, LLC Brochure. You should have received a copy of that Brochure. Please contact Robert W. Ballan, Managing Member at (775) 993-2900 or rob@rbcapitalmanagement.com if you did not receive RB Capital Management, LLC’s Brochure or if you have any questions about the content of this supplement. Additional information about Robert W. Ballan is available on the SEC’s website at www.adviserinfo.sec.gov. ITEM 2: EDUCATIONAL BACKGROUND AND BUSINESS EXPERIENCE Robert W. Ballan was born in 1963. He received a BBA in Finance from Hofstra University in 1985. Employment Background Employment Dates: Firm Name: Type of Business: Job Title & Duties: 4/2000 - Present RB Capital Management, LLC Investment Advisor Managing Member  RB Capital Management, LLC Brochure Supplement Robert W. Ballan Business Background (continued) Employment Dates: Firm Name: Type of Business: Job Title & Duties: 1/1991 - Present Self-Employed Private Investor/Trader Private Investor Employment Dates: Firm Name: Type of Business: Job Title & Duties: 1/2004 - 3/2005 ICG Financial, LLC Investment Advisor CIO/Managing Director ITEM 3: DISCIPLINARY INFORMATION Registered investment advisors are required to disclose any material facts regarding any legal or disciplinary actions that would be material to your evaluation of each investment advisor representative providing investment advice to you. There is no information of this type to report. ITEM 4: OTHER BUSINESS ACTIVITIES Mr. Ballan is not involved in any other business activities. ITEM 5: ADDITIONAL COMPENSATION Mr. Ballan does not receive any economic benefit from any non-client for providing advisory services. ITEM 6: SUPERVISION Mr. Ballan, Managing Member, is the managing member and sole person responsible for managing RB Capital’s advisory personnel. His telephone number is (775) 993-2900. Page 2  BROCHURE SUPPLEMENT ITEM 1: COVER SHEET Jonathan P. Donahue RB Capital Management, LLC 5365 Reno Corporate Dr, Suite 200 Reno, NV 89511 880 Northwood Boulevard, Ste. 2 Incline Village, NV 89451 (775) 993-2900 January 27, 2026 This Brochure Supplement provides information about Jonathan P. Donahue that supplements the RB Capital Management, LLC Brochure. You should have received a copy of that Brochure. Please contact Robert W. Ballan, Managing Member at (775) 993-2900 or rob@rbcapitalmanagement.com if you did not receive RB Capital Management, LLC’s Brochure or if you have any questions about the content of this supplement. Additional information about Jonathan P. Donahue is available on the SEC’s website at www.adviserinfo.sec.gov. ITEM 2: EDUCATIONAL BACKGROUND AND BUSINESS EXPERIENCE Jonathan P. Donahue was born in 1967. Employment Background Employment Dates: Firm Name: Type of Business: Job Title & Duties: 2/2018 - Present RB Capital Management, LLC Investment Advisor Investment Adviser Representative  RB Capital Management, LLC Brochure Supplement Jonathan P. Donahue Business Background (continued) Employment Dates: Firm Name: Type of Business: Job Title & Duties: 1/2026 - Present eXp Realty Realtor Assistant Realtor Employment Dates: Firm Name: Type of Business: Job Title & Duties: 3/2017 - Present Self-Employed Consultant Sole Proprietor Employment Dates: Firm Name: Type of Business: Job Title & Duties: 10/2016 – 2/2017 Euromotors Luxury Automotive Sales Sales Associate Employment Dates: Firm Name: Type of Business: Job Title & Duties: 3/2016 – 9/2016 Autobahn Motors - Sonic Automotive Luxury Automotive Sales Sales Associate Employment Dates: Firm Name: Type of Business: Job Title & Duties: 6/2010 – 02/2016 Bullion One Alternative Lender and Precious Metals Trading Managing Partner Employment Dates: Firm Name: Type of Business: Job Title & Duties: 01/2007 – 01/2010 ELA Capital Management LLC Asset Management Principal & Senior Portfolio Manager ITEM 3: DISCIPLINARY INFORMATION Registered investment advisors are required to disclose any material facts regarding any legal or disciplinary actions that would be material to your evaluation of each investment advisor representative providing investment advice to you. There is no information of this type to report. ITEM 4: OTHER BUSINESS ACTIVITIES Mr. Donahue is a sole proprietor consultant for hedge funds. This started in 03/2017. He spends approximately 60 hours per month on this. Page 2  RB Capital Management, LLC Brochure Supplement Jonathan P. Donahue He is also an Assistant Realtor with eXp Realty in Mesquite, NV. This started in 01/2026. He spends approximately 20 hours per month on this. Clients of RB Capital Management are under no obligation to use Mr. Donahue as a consultant or their realtor. Mr. Donahue will provide all required disclosures about the compensation he receives when engaging in the above activities to the clients for which he performs the services. ITEM 5: ADDITIONAL COMPENSATION Mr. Donahue does not receive any economic benefit from any non-client for providing advisory services. ITEM 6: SUPERVISION Robert W. Ballan, Managing Member, is responsible for the supervision of Mr. Donahue. His telephone number is (775) 993-2900. Page 3  BROCHURE SUPPLEMENT ITEM 1: COVER SHEET Justin M. Sloan RB Capital Management, LLC 9240 Old Redwood Hwy., Suite 248 Windsor, CA 95452 Phone: (707) 584-6618 January 27, 2026 This Brochure Supplement provides information about Justin M. Sloan that supplements the RB Capital Management, LLC Brochure. You should have received a copy of that Brochure. Please contact Robert W. Ballan, Managing Member at (775) 993-2900 or rob@rbcapitalmanagement.com if you did not receive RB Capital Management, LLC’s Brochure or if you have any questions about the content of this supplement. Additional information about Justin M. Sloan is available on the SEC’s website at www.adviserinfo.sec.gov. ITEM 2: EDUCATIONAL BACKGROUND AND BUSINESS EXPERIENCE Justin M. Sloan was born in 1984. Educational Background School Name Saint Mary's College Saint Mary's College Saint Mary's College Degree BS MBA MS Year 2006 2008 2008 Major(s) Business Masters Business Administration Financial Analysis & Investment. Management. Employment Background Employment Dates: Firm Name: Type of Business: Job Title & Duties: 5/2022 - Present RB Capital Management, LLC Investment Advisor Investment Adviser Representative  RB Capital Management, LLC Brochure Supplement Justin M. Sloan Employment Background (continued) Employment Dates: Firm Name: Type of Business: Job Title & Duties: 12/2009 - Present Due Ruscelli Winery Vineyard Production and Marketing Employment Dates: Firm Name: Type of Business: Job Title & Duties: 2/2009 - 5/2022 Buckingham Strategic Wealth, LLC Investment Advisor Wealth Advisor Professional Designations Certified Financial Analyst (CFA) –2014 Certified Financial Planner (CFP) –2015 The CFP designation is issued by the Certified Financial Planner Board of Standards, Inc. In order to receive a CFP designation, the candidate must have a bachelor’s degree or higher from an accredited college or university and have 3 years of full-time personal financial planning experience. In addition, the candidate must complete a CFP board-registered program or hold one of the following: CPA, ChFC, Chartered Life Underwriter (CLU), CFA, Ph.D. in business or economics, Doctor of Business Administration or attorney’s license. Once the designation is earned, the CFP must complete 30 hours of continuing education every 2 years. The CFA Charterholder designation is issued by the CFA Institute. In order to receive this designation, a candidate must have either: 1) an undergraduate degree and 4 years of professional experience involving investment decision-making, or 2) 4 years qualified work experience (full time, but not necessarily investment related). Each candidate must complete a self-study program of 250 hours of study for each of the 3 levels. Once a candidate passes each of the three 6-hour exams and meets the appropriate experience requirements the CFA charterholder designation may be used. There are no continuing education requirements. ITEM 3: DISCIPLINARY INFORMATION Registered investment advisors are required to disclose any material facts regarding any legal or disciplinary actions that would be material to your evaluation of each investment advisor representative providing investment advice to you. There is no information of this type to report. ITEM 4: OTHER BUSINESS ACTIVITIES Mr. Sloan is, among other duties, involved in production and marketing at Due Ruscelli Winery. This takes up approximately 5% of his time. Page 2  RB Capital Management, LLC Brochure Supplement Justin M. Sloan ITEM 5: ADDITIONAL COMPENSATION Mr. Sloan does not receive any economic benefit from any non-client for providing advisory services. ITEM 6: SUPERVISION Robert W. Ballan, Managing Member, is responsible for the supervision of Mr. Sloan. His telephone number is (775) 993-2900. Page 3  BROCHURE SUPPLEMENT ITEM 1: COVER SHEET Shawn D. Young RB Capital Management, LLC 7409 N Cedar Avenue, Suite 103B Fresno, CA 93720 Phone: (559) 478-2565 January 27, 2026 This Brochure Supplement provides information about Shawn D. Young that supplements the RB Capital Management, LLC Brochure. You should have received a copy of that Brochure. Please contact Robert W. Ballan, Managing Member at (775) 993-2900 or rob@rbcapitalmanagement.com if you did not receive RB Capital Management, LLC’s Brochure or if you have any questions about the content of this supplement. Additional information about Shawn D. Young is available on the SEC’s website at www.adviserinfo.sec.gov. ITEM 2: EDUCATIONAL BACKGROUND AND BUSINESS EXPERIENCE Shawn D. Young was born in 1973. He received a BS in Mathematics from University of California, Davis in 1996, and a MS in Applied Computational Mathematics from John Hopkins University. Employment Background Employment Dates: Firm Name: Type of Business: Job Title & Duties: 2/2004 – Present RB Capital Management, LLC Investment Advisor Senior Investment Analyst, Chief Compliance Officer, Chief Operations Officer Employment Dates: Firm Name: Type of Business: Job Title & Duties: 1/2020 – Present Fresno Christian High School High School Cross Country and Track Coach  RB Capital Management, LLC Brochure Supplement Shawn D. Young Employment Background (continued) Employment Dates: Firm Name: Type of Business: Job Title & Duties: 11/2014 – 11/2015 UCLA University Strategic Sourcing Analyst Employment Dates: Firm Name: Type of Business: Job Title & Duties: 9/2005 - 10/2014 Department of Defense Government Mathematician Employment Dates: Firm Name: Type of Business: Job Title & Duties: 9/2004 - 9/2005 Sloan Securities Corp. Broker/Dealer Registered Representative Employment Dates: Firm Name: Type of Business: Job Title & Duties: 2/2004 - 8/2004 Gunn Allen Financial Broker Dealer Registered Representative ITEM 3: DISCIPLINARY INFORMATION Registered investment advisors are required to disclose any material facts regarding any legal or disciplinary actions that would be material to your evaluation of each investment advisor representative providing investment advice to you. There is no information of this type to report. ITEM 4: OTHER BUSINESS ACTIVITIES Mr. Young is also coaching Cross Country and Track for Fresno Christian High School. This activity takes up approximately 15 hours per week. ITEM 5: ADDITIONAL COMPENSATION Mr. Young does not receive any economic benefit from any non-client for providing advisory services. ITEM 6: SUPERVISION Robert W. Ballan, Managing Member, is responsible for the supervision of Mr. Young. His telephone number is (775) 993-2900. Page 2