STORGE

STORGE PARTNERS ECONOMIC STUDIES LLC (dba STORGE PARTNERS, and/or STORGE) INVESTMENT ADVISER CRD# 305395 150 Alhambra Circle Coral Gables, FL 33134 December 31st, 2025 any state This brochure provides information about the qualifications and business practices of Storge Partners Economic Studies LLC. If you have any questions about the contents of this brochure, please contact us at +1 (786) 213- 2116 or write compliance@storgepartners.com. The information in this brochure has not been approved or verified by the United States Securities securities authority. and Exchange Commission or by Registration of an investment adviser does not imply any level of skill or training. Additional information about Storge Partners Economic Studies LLC is also available on the SEC’s website at www.adviserinfo.sec.gov. 1  TABLE OF CONTENTS ITEM PAGE(s) I Material Changes 3 II Advisory Business 3, 4, 5 III Fees and Compensation 6, 7, 8 IV 8 Performance-Based Fees and Side-By-Side Management V Types of Clients 8 VI 9 Methods of Analysis, Investment Strategies and Risk of Loss VII Disciplinary Information 9 VIII Other Financial Industry Activities and Affiliations 10 IX 11 Code of Ethics, Participation or Interest in Client Transactions and Personal Trading X Brokerage Practices 11 XI Review of Accounts 12 XII Client Referrals and Other Compensation 12 XIII Custody 13 13 XIV Investment Discretion 13 XV Voting Client Securities XVI Financial Information 13 2  ITEM I - MATERIAL CHANGES Page 1: Updated the document date. Page 2: Renumbered the Table of Contents so that Items now begin with Item 1 (previously began with Item 3). Page 4: Item II, second paragraph: Replaced the term “management” with “advisory.” Page 5: Updated Total Assets Under Management (AUM). Revised the section title to read: “Family Wealth Services – Non-Investment Advisory/Consulting.” Relocated the disclosure regarding assets held offshore to this section (previously under Performance Fees). Page 6: Updated the subtitle under “Asset Management Fees” to include “(Advisory Fees).” Page 8: Removed the statement: “…the Firm does not provide advice to investment companies.” Removed the description of the Performance Fee calculation methodology. Page 10: Added that SP, in addition to providing operational and administrative services, also provides “non-financial consulting services”. be registered, as Investment telephone 786-213-2116 You will receive a summary of any material changes to subsequent Brochures within 120 days of the close of our business’s fiscal year, which is December 31 of each year. We will further provide you with a new Brochure as necessary based on changes or new information, at any time, without charge. Currently, our Brochure may be requested by contacting us at and/ +1 number or by email at compliance@storgepartners.com Additional information about Storge Partners Economic Studies LLC is also available via the SEC’s web site www.adviserinfo.sec.gov. The SEC’s web site information about any persons affiliated with Storge also provides Partners Economic Studies LLC who are registered. ITEM II - ADVISORY BUSINESS Storge Partners Economic Studies LLC (STORGE) is an independent boutique investment advisory firm founded in 2017 and registered with the U.S. Securities & Exchange Commission in September 18, 2019. STORGE’s main objective is to provide personalized, unbiased and transparent financial advisory services to their clients. 3  Adviser provides investment advisory services to Adviser’s clients through the advisory of investment portfolios in accordance with the objectives, guidelines and risk profiles of individual clients. Clients provide such information to Adviser at or before the time they enter into an advisory agreement with Adviser. Its principal business is to provide fee-based investment advisory services. The advisor practices custom management of portfolios, on a non- discretionary basis, according to the client's objectives. The advisor's primary approach is to use a strategic asset allocation, strategy aimed at reducing risk and increasing performance. contrac ts on tangibles to accomplish this fund manager's tenure, and/or overall career redistributing t o reduce risk dividend potential. The advisor may affect the portfolio. the-counter securities, The advisor uses exchange lis ted securities, over- foreign securities, corporate debt securities, CDs, variable life insurance, mutual funds, United States government securities, options in securities and commodities, and futures objective. The advisor measures and selects mutual funds by using various criteria, such as the performance. The advisor may recommend, on occasion, investment allocations to diversify the portfolio in an effort and increase performance. The advisor may recommend specific stocks to increase sector weighting and /or recommend employing c ash positions as a possible hedge against market movement which may adversely The advisor may recommend selling positions for reasons that include, but are not limited to, harvesting capital gains or losses, business or sector risk expos ure t o a specific security or class of s ecurities, 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 toleranc e. STORGE will provide investment advisory services and portfolio ass essment and will not provide securities custodial or other related services. At no time will STORGE accept or maintain custody of a client's funds or securities. third-party o as sist and advise the c lient in appropriate investments STORGE may periodically recommend and refer clients to unaffiliated money managers or investment ad visors. Through this arrangement, the Client will then enter into an advisory ag reement with the money manager authorizing them t establishing investment objectives and develop an investment strategy to meet those objectives by identifying and monitoring such investments. 4  Portfolio Supervision & Consulting Services As an investment adviser, STORGE PARTNERS ECONOMIC STUDIES LLC provides portfolio assessment and administrative services to client accounts (the “Accounts”), including investigating, analyzing, structuring and negotiating potential investments, monitoring the performance of investments and advising the Accounts as to the disposition of investment opportunities. Family Wealth Services -Non Investment Advisory / Consulting Storge does not offer Consulting Services. Should Non-financial consulting services be solicited by a client they will be provide by another company within the group if available. Investment Policy Statement & Definition; Asset Allocation General: Strategy; Investment Strategy & Review. Current Portfolios & Proposals; D etermine Investments: Review of Modifications, Create Timeline and Implement, Suggest Reasonable Fees f or Products and Services, Provide Consolidated Reporting and Analysis, Ongoing Monitoring and Re-evaluation, Define or Affirm Wealth Transfer Desires; Succession Illustration and Definition. Advice can be provided on assets held offshore. Risk Management: Review Investment Strategies for Risk Reduction. STORGE is an SEC Registered Investment Advisor managing $866,631,010 as of December 31, 2025, managed on a non- discretionary basis. STORGE is a limited liability company registered in Florida. The principal direct shareholder of the company is Storge Partners Holdings LLC (Florida). OFFICERS Jose Maria Corominas Miguel Fortuño Paloma Adánez Gabriela Corominas Sebastian Herdoiza Director/Investment Manager/Principal Director/Investment Manager Chief Compliance Officer Compliance Officer Latam Analyst 5  ITEM III - FEES AND COMPENSATION Asset Management Fees (Advisory Fees) Pursuant to an investment advisory contract signed by each client, the client periodically pays an Advisory Fee as agreed between the client and the Firm. The Advisory Fee is based on the asset value of the assets supervised by the advisor at the beginning of the advisory period as established in the investment advisory Agreement or at its annual review. The Advisory Fee -annual or annual basis, could be charged on a monthly, quarterly, semi payable in advance or in arrears (as preferred by the client). Semi- annual or annual options are only available for payments in advance. Pro-rated refunds fees will be made to the clients if and when the Agreement is terminated during a period for which payment has been received by the Firm. Fee Schedule Annual Fee: Minimum Fee: From 0.25% to 1% /year $18,000.00 per year* *Minimum Fee not applicable to clients with AUMs of $1,250,000 or less. Fees are billed at the beginning of each period or at the end of the period depending on the agreement with each client. These fees may be negotiated (reduced) by the advisor under unusual or exceptional circumstances, at the sole discretion of the advisor. Asset management fees (Advisory fees) could be automatically deducted from the client account on a periodic basis by the custodian provided the client’s agreement. 6  All fees paid to the Firm for investment advisory services are separate and distinct from the expenses charged by mutual funds to their shareholders and the product sponsor in the case of variable insurance products. These fees and expenses are described in each fund's or variable product's prospectus. These fees will generally include a management fee, other fund expenses, and a possible distribution fee. If the sponsor also imposes sales charges, a client may pay an initial or deferred sale or surrender charge. A client could invest in these products directly, without the services of the Firm. In that case, the client would not receive the services provided by the Firm which are designed, among other things, to assist the client in determining which products or services are most appropriate to each client's financial condition and objectives. Accordingly, the client should review both the fees charged by the product sponsor and the fees charged by the Firm to fully understand the total fees to be paid. Consulting Fees The Firm does not currently provide consulting services. Should non financial consulting services be solicited by a client they will be provided, if available, by another company of the group. Performance Fees At the time of issuing this document, the Firm has no Performance Fee Agreements in place. Additional Fee Information Clients may authorize the Adviser to directly debit management (advisory) fees from client accounts on a periodic basis. Alternatively, in some instances, clients may receive an invoice for fees, inwhich it may choose to pay the Firm directly for its billed fees for the relevant period. transfer taxes, wire Adviser’s fees are exclusive of brokerage commissions, transaction fees, and other related costs and expenses which shall be incurred directly by the client. Clients may incur in certain charges imposed by custodians, brokers, and other third parties such as fees charged by fund managers, custodial fees, deferred sales charges, odd-lot differentials, transfer and electronic funds fees, and other fees and taxes on brokerage account and securities transactions. Mutual funds and exchange traded funds also charge internal management fees, which are disclosed in a fund’s prospectus. It is the Adviser’s policy not to accept “kick-backs” or retrocession fees from any 7  third non-affiliated party providing services to the Adviser’s clients. ITEM IV - PERFORMANCE-BASED FEES AND SIDE-BY-SIDE MANAGEMENT The Firm does not currently have Performance- based fees in place. Exceptionally, only upon request of a Client, the Firm may consider the application of a performance fee. ITEM V - TYPES OF CLIENTS Most of the Firm’s clients are high-net-worth individuals and families, directly or through their investments vehicles. The Firm may also manage portfolios and provide investment advice to investment companies. The firm’s cumulative minimum account is $3,000,000. However, based on facts and circumstances STORGE may, at its sole discretion, accept accounts with a lower value. 8  ITEM VI - METHODS OF ANALYSIS, INVESTMENT STRATEGIES AND RISK LOSS The Firm’s primary approach is to use a Strategic Asset Allocation aimed at reducing risk and increasing performance. The advisor analyses among all investment products available in the financial market, those that better fit each client, according to the client´s objectives, risk tolerance and investment profile. The advisor will also analyze the “momentum” or appropriateness of each potential investment recommendation according to various factors: risk, dividend history, diversification, growth potential and market consensus. The advisor gives a high level of scrutiny to the cost applied by custodians and brokers to each transaction with the aim of helping the client to reduce costs as much as possible. The firm will always follow the client´s objectives. However, the Firms´ standard investment strategy recommendation is focused on risk quality, cost contention and profitability in the mid-long term, as opposed to short term speculative transactions. There is a substantial risk of loss in trading in securities and other financial instruments. Past results are no guarantee of future performance. You should carefully consider whether trading is appropriate for you in light of your experience, objectives, financial resources and other relevant circumstances. Trading in futures and options is not suitable for many members of the public. ITEM VII - DISCIPLINARY INFORMATION Neither the Firm nor any employee of the firm has been subject to any disciplinary actions by the Securities Exchange Commission (SEC) or any other regulatory authority. 9  ITEM VIII – OTHER FINANCIAL INDUSTRY ACTIVITIES, BUSINESS ACTIVITIES AND AFFILIATIONS The Firm’s has currently no business activity nor affiliation with third partiesapart from the group company “SP Servicios Globales” in Madrid, mentioned below. Should the Firm consider in the future to affiliate with a third party with the aim of improving the quality of the service to its customers, it will ensure, this affiliation is duly communicated to the relevant authority and this Brochure conveniently amended and updated. SP Servicios Globales de Consultoría y Estrategia en la Empresa Familiar SL, (“SP Servicios Globales”) bas ed in Madrid, provides Operational and Administrative Support services to the Firm - such as Macroeconomic Analysis and Support for LATAM Markets and non financial consulting services - and its customers as and when required. Jose Maria Corominas (directly) and Miguel Fortuño (indirectly), are partners of Sievert Partners LLC (see info below). Some of the Firm’s clients are also investors of Sievert Partners. Neither Storge, Miguel Fortuño nor Jose Maria receive compensation from Sievert Partners. Jose Maria Corominas is a partner of “SP Servicios Globales”. Jose María has no executive role and receives no compensation from SP Servicios Globales. Miguel Fortuño is currently employed by “SP Servicios Globales” as Manager and supervises the Analyst team in Madrid. Jose Maria Corominas is also President and Manager of IEEE Family Foundation USA LLC. Jose Maria receives no compensation from IEEE. About Sievert Partners: Sievert Partners founded in February 2014 is a private club for investment purposes with address at 2330 Ponce de Leon Blvd, Coral Gables FL 33134 USA. About SP Servicios Globales: SP Servicios Globales founded in September 2019 is a consulting company that provides market analysis and nonfinancial consulting services to Storge Partners Economic Studies LLC, among other clients. Their address is C/ Magallanes 25, 28015 Madrid Spain and C/ Serrano 63, 28006 Madrid About IEEE Family Foundation USA LLC: founded in May 2019 with address at 2330 Ponce de Leon Blvd, Coral Gables FL 33134 USA, provides logistic support to Instituto Europeo de Estudios de la Educacion, which is a non-profit organization (Spain) who grants scholarships and offers free educational courses to low-income families. 10  ITEM IX - CODE OF ETHICS, PARTICIPATION OR INTEREST IN CLIENT TRANSACTIONS AND PERSONAL TRADING The Firm 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 the Firm d eemed to be an Access Person and is intended to ensure that securities transactions effected by Access Persons of the Firm 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. The Firm collects and maintains records of securities holdings and securities transactions effected by Access Persons. These records are reviewed to identify and resolve potential conflicts of interest. STORGE maintains a code of ethics and they will provide a copy to any client or prospective client upon request. The Firm and/or its investment advisory representatives may from time to time purchase or sell products that they may recommend to clients. The Firm prohibits itself and its associated persons from benefiting from the short-term market effects of transactions for clients. The Firm gives preference to clients trading over itself. The compliance officer reviews all transactions executed by the Firm regularly, and conducts an additional review of all securities transactions by officers and employees quarterly, at least. ITEM X - BROKERAGE PRACTICES Best Execution: As an investment advisory firm, the Firm has a fiduciary duty to seek best execution for client transactions. While best execution is difficult to define and challenging to measure, there is some consensus that it does not solely mean the achievement of the best price on a given transaction. Rather, it appears to be a collective consideration of factors concerning the trade in question. Such factors include the security being traded, the price of the trade, the speed of the execution, apparent conditions in the market, and the specific needs of the client. This would justify higher commissions (or their equivalent) than other transactions requiring routine service to be applied by the Broker (never the Firm) if directed by the client to direct trades to a specific broker dealer other 11  than the custodian typically used for trade execution, it is disclosed that the Firm’s ability to negotiate commissions (where applicable), obtain volume discounts, or otherwise obtain best execution may not be as favorable as might otherwise be obtained. Order Aggregation: The Firm does not work with order Aggregation. ITEM XI - REVIEW OF ACCOUNTS Accounts are monitored on an ongoing basis. The Portfolio Adviser will review client accounts. The triggering factors would be the Firm becomes aware of a change in client's investment objective, a change in market conditions, change of employment, review of assets to maintain proper asset allocation and any o ther activity that may be discovered as the a ccount is reviewed. Apart from regular reports from the Firm, the client will receive other supporting reports from Mutual Funds, Asset Managers, Trust Companies or Custodians, Insurance Companies, Broker/Dealers and others who are involved with client accounts unless the client declines receiving those. The client is encouraged to notify the Advisor and Investment Advisor Representative if changes occur in his/her personal financial situation that might adversely affect his/her investment plan. in the Asset Management Program. Re-balancing Accounts are reviewed on a monthly or quarterly basis as deemed necessary by the Advisor or by third-party money manager for those participating is accomplished by recommending reallocation of assets to original asset involves setting new target asset category targets and re-optimizing percentages. ITEM XII - CLIENT REFERRALS AND OTHER COMPENSATION The Firm, from time to time, may receive client referrals, and such referrals often come from current clients, attorneys, accountants, employees, personal friends of employees and other similar sources. for Client At present, the Firm does not pay any compensation referrals, however the Firm is considering entering into agreement whereby a party unaffiliated with the Adviser is entitled to compensation in the event that such party promote prospective clients who become Adviser’s clients. 12  In such a case, pursuant to the Agreement, the Promoter will provide each prospective client with a copy of the Adviser’s Form ADV Part 2A and a disclosure document setting forth the terms of the Promoter ´s agreement, including the nature of the relationship between the Promoter and the Adviser and any fees to be paid to the Promoter. Where applicable, cash payments for client solicitations will be structure to comply fully with the requirements of Rule 206(4)-1 under the Advisers Act. ITEM XIII - CUSTODY The Firm provides non-discretional investment advisory services and does not provide securities custodial or other related services. At no time will the firm accept or maintain custody of a client's funds or securities. ITEM XIV - INVESTMENT DISCRETION The Firm only provides non discretional advisory services. ITEM XV - VOTING CLIENT SECURITIES The Firm 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, the Firm cannot give any advice or take any action with respect to the voting of these proxies. Firm cannot give any advice or take action with respect to the voting of these proxies. ITEM XVI - FINANCIAL INFORMATION The Firm does not maintain any impairments or financial obligations that might prevent it from meeting any contractual obligation to its clients. 13  14