30 April 2025 I Chicago, IL

The board of directors of W.W. Grainger, Inc. (NYSE: GWW) has declared a regular quarterly dividend of $2.26 per common share, an increase of approximately 10% from the previous quarterly dividend of $2.05. Payment of the dividend is expected in June 2025.

For calendar year 2025, this marks the sixteenth dividend increase for the Washington Crossing Advisors Rising Dividend portfolio. All sixteen changes were increases. The average dividend increase is 7.0% compared with December 2024 indicated levels.

Please contact your financial advisor for a complete list of all portfolio holdings that have, in the past 12 months, increased, decreased, or had no change in dividend.

From the press release: “W.W. Grainger, Inc. (NYSE: GWW) announced today that its board of directors approved a quarterly cash dividend of $2.26 per share, an increase of 10% from the most recent company dividend. The dividend is payable on June 1, 2025, to shareholders of record on May 12, 2025.

“2025 is on track to be our 54th consecutive year of increased dividends, upholding Grainger’s long-standing commitment to our shareholders. This increase reinforces our ability to continue investing in the business while also returning excess cash to shareholders,” said D.G. Macpherson, Grainger Chairman and CEO.”1

About the company: “W.W. Grainger, Inc., is a leading broad line distributor with operations primarily in North America, Japan and the United Kingdom. At Grainger, We Keep the World Working® by serving more than 4.5 million customers worldwide with products delivered through innovative technology and deep customer relationships. Known for its commitment to service and award-winning culture, the Company had 2024 revenue of $17.2 billion across its two business models. In the High-Touch Solutions segment, Grainger offers approximately 2 million maintenance, repair and operating (MRO) products and services, including technical support and inventory management. In the Endless Assortment segment, Zoro.com offers customers access to more than 14 million products, and MonotaRO.com offers more than 24 million products. For more information, visit www.grainger.com.”1

IMPORTANT DISCLOSURES: The securities discussed herein do not represent all of the securities held by the WCA Rising Dividend Portfolio as of the date presented and are subject to change at any time, without notice. A complete list of holdings as of the date noted above will be provided upon request. The above is presented to illustrate the application of the strategy only and not intended as personalized recommendations of any particular security. The securities identified and described above do not represent all of the securities purchased, sold, or recommended for client accounts. You should not assume that an investment in any of the securities identified was or will be profitable. Changes in market conditions or a company’s financial condition may impact the company’s ability to continue to pay dividends. Companies may also choose to discontinue dividend payments. All investments involve risk, including loss of principal, and there is no guarantee that investment objectives will be met. It is important to review your investment objectives, risk tolerance and liquidity needs before choosing an investment style or manager. Equity investments are subject generally to market, market sector, market liquidity, issuer, and investment style risks, among other factors to varying degrees. Fixed Income investments are subject to market, market liquidity, issuer, investment style, interest rate, credit quality, and call risks, among other factors to varying degrees.