MA-A 0001006938 XXXXXXXX Valencia Day 612-851-4917 vday@northlandsecurities.com vday@northlandsecurities.com 12-31-2018 Y NORTHLAND SECURITIES, INC. 000040258 41-1819873 866-00082-00 867-00500 008-48994 000040258 801-96329 000040258 Municipal Securities Rulemaking Board A4861 150 SOUTH 5TH STREET 33rd FLOOR MINNEAPOLIS MN 55402 612-851-5900 612-851-5987 Add 6903 Vista Drive West Des Moines IA 50266 515-657-4677 515-657-4678 N 150 SOUTH FIFTH STREET SUITE 3300 MINNEAPOLIS MN 55402 www.northlandsecurities.com Add www.northlandsecurities1031.com Janie Sue Pedersen

150 South 5th Street 33rd Floor Minneapolis MN 55402

612-851-5924 612-851-6447 jpedersen@northlandsecurities.com Valencia Joyce Day

150 South 5th Street 33rd Floor Minneapolis MN 55402

612-851-4917 612-677-3986 vday@northlandsecurities.com Add Iron Mountain 1 Federal Street Boston MA 02110 800-934-3453 Customer account information over 2 years old; municipal deal documents; customer correspondence; back up CD's Add Smarsh, Inc 921 SW Washington Street Suite 540 Portland OR 97205 866-762-7741 Email archive December MN 09-14-1995 N 169 1 14 14 0 0 40 Municipal Entities 0 0 0 Not Applicable Contingent Fees Contingent Fees Advice Insurance Of MS Advice ME Investments Y Y Y N Investment Adviser 1 N N N N N N N N N N N N N There are no changes in this annual update to information provided in the municipal advisor's most recent Form MA, other than the updated Execution Page. Answered "yes" to Item #1 only to be able to respond to Item #3. N N N N N Y N Y Y N N N N N N Y N N N N N N N N N N Northland Capital Holdings, Inc N 20-0222291 Direct Owner 01-02-2004 E Y Thomas Joseph Bartzen EVP & Board Chairman 09-01-2002 NA Y 001442989 John Randolph Larson Secretary 09-01-2002 NA N 004591587 Randy Gene Nitzsche CEO, President 09-01-2002 NA Y 001558954 Janie Sue Pedersen SVP, Chief Compliance Officer 06-01-2008 NA Y 002176574 John Mark Schumacher Director 03-01-2016 NA Y 001520203 Michael John Grondahl Managing Director 11-18-2017 NA Y 002961468 Dustin Richard Alden Controller, Fin Op 08-01-2017 NA N 006131554 Northland Capital Holdings, Inc Abdo, Inc N 41-1406515 Owner 10-02-2004 F N Northland Capital Holdings, Inc Glen Albert Taylor Owner 10-01-2004 C Y 004864328 Add Northland Capital Holdings, Inc N 20-0222291 Direct Owner 01-02-2004 E Y Delete Thomas Joseph Bartzen EVP & Board Chairman 09-01-2002 NA Y 001442989 Add John Randolph Larson Secretary 09-01-2002 NA N 004591587 Add Randy Gene Nitzsche CEO, President 09-01-2002 NA Y 001558954 Add Janie Sue Pedersen SVP, Chief Compliance Officer 06-01-2008 NA Y 002176574 Add John Mark Schumacher Director 03-01-2016 NA Y 001520203 Add Michael John Grondahl Managing Director 11-18-2017 NA Y 002961468 Add Dustin Richard Alden Controller, Fin Op 08-01-2017 NA N 006131554 Add Robert Louis Johnson Director 08-09-2017 NA Y 004133048 Add Northland Capital Holdings, Inc Abdo, Inc N 41-1406515 Owner 10-02-2004 F N Add Northland Capital Holdings, Inc Glen Albert Taylor Owner 10-01-2004 C Y 004864328 9-E2 Northland Securities, Inc 000040258 1519706 9-E2 Northland Securities, Inc 000040258 1519134 9-E2 Northland Securities, Inc 000040258 1344879 9-E2 Northland Securities, Inc 000040258 1335389 9-C2 Northland Securities, Inc 000040258 1826175 9-C4 Northland Securities, Inc. 000040258 1826175 9-C5 Northland Securities, Inc. 000040258 1826175 Valencia Day Valencia Day Registered Sales Assistant 01-11-2019 002333358 N N N N N Y Y Y N Y Y N N N N N N N Y N N