No offer or solicitation. The information in this document is for informational purposes only and is not an offer to sell or the solicitation of any offer to buy securities. The only purpose of this document is to provide information regarding Dividend Advisors and Dividend Advisors' US Utilities Strategy (the "Strategy"). A prospective investor also must review Dividend Advisors' Form ADV for additional details and conflicts of interest, which will be available on request. Risks. An investment in the Strategy involves risks. Only by reading those offering materials carefully and discussing any questions you may have with Dividend Advisors can you determine whether the investment's risks and conflicts of interest are acceptable to you. No duty to update. Neither Dividend Advisors nor any of its affiliates assumes any duty to update any information in this presentation for subsequent changes of any kind. For example, the investment objectives, methods and limitations summarized herein represent Dividend Advisors' current intentions. Nevertheless, depending on conditions and trends in securities markets and the economy generally, Dividend Advisors' may pursue any objectives, employ any techniques or purchase any type of security that it considers appropriate and in the best interests of its clients. Forward looking statements. This document may contain forward-looking statements based on Dividend Advisors' expectations and projections about the methods by which it expects to invest. Those statements are sometimes indicated by words such as "expects," "believes," "will" and similar expressions. In addition, any statements that refer to expectations, projections or characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Such statements are not guaranties of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual returns could differ materially and adversely from those expressed or implied in any forward-looking statements as a result of various factors. Preparation of document. Dividend Advisors' prepared this document. The information in this document has not been reviewed or audited by an independent accountant or other independent testing firm. Dividend Advisors' believes the data is correct but does not assume any liability if such data is incorrect. Indexes. Indexes are unmanaged and investors cannot invest directly in an index. The performance of indexes do not account for any fees, commissions or other expenses that would be incurred. The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. It is a market value weighted index with each stock's weight in the index proportionate to its market value. Total return reflects the effects of dividend reinvestment. The Barclays U.S. Aggregate Bond Index provides a measure of the performance of the U.S. investment grade bonds market, which includes investment grade U.S. Government bonds, investment grade corporate bonds, mortgage pass-through securities and asset-backed securities that are publicly offered for sale in the United States. The securities in the Index must have at least 1 year remaining to maturity. In addition, the securities must be denominated in US dollars and must be fixed rate, nonconvertible, and taxable. Price/Earnings Ratio (P/E Ratio). A valuation ratio of a company's current share price compared to its per-share earnings. Price/Book Ratio (P/B Ratio). A ratio used to compare a stock's market value to its book value. It is calculated by dividing the current closing price of the stock by the latest quarter's book value per share. Dividend Yield (TTM). The percentage income a portfolio returns over the past 12 months. It is calculated by taking the weighted average of the yields of the stocks and funds that compose the portfolio.