An outlook for 2010 and a recap of the last couple years.

1. 2010 INVESTMENT OUTLOOK Greenspring Wealth Management Presented by Patrick Collins, CFP, EA Wealth Manager and Principal

2. IMPORTANT DISCLOSURES IMPORTANT DISCLOSURES Please remember that different types of investments involve varying degrees of risk, including the loss of money invested, and that past performance may not be indicative of future results. Therefore, it should not be assumed that future performance of any specific investment or investment strategy, including the investments or investment strategies recommended or undertaken by Greenspring Wealth Management, Inc, will be profitable. Please remember to contact Greenspring Wealth Management Inc. if there are any changes in your personal of financial situation or investment objectives for the purpose of reviewing our previous recommendations and services, or if you wish to impose, add, or modify any reasonable restrictions to our investment management services. A copy of our current written disclosure statement discussing our advisory services and fees continues to remain available for your review upon request. This presentation is not a substitute for personalized advice from Greenspring Wealth Management, Inc. The index returns on slides 3, 5 and 6 show the total return for various investment indices and include the impact of the reinvestment of dividends. Actual client accounts will hold different securities that the ones included in each index. The index returns are gross of applicable account transaction, custodial and investment management fees. The actual investment results would be reduced by such fees and any other expenses incurred as an investor. Information included in this presentation has been gathered from various sources that are believed to be reliable; Greenspring Wealth Management Inc. cannot guarantee the accuracy of this information.

3. A TALE OF TWO YEARS A TALE OF TWO YEARS Sources: MSCI Emerging Market Index, MSCI EAFE Index, DJ Selected REIT Index, S&P 500, DJ UBS Commodities, Barclays Credit Bond, Five Year Treasury Bonds, Barclays Long-term Government Bonds

5. STOCK VALUATIONS STOCK VALUATIONS 20.08 Normalized P/E Ratio uses 5-year average annual reported earnings. Decemberr 2009 P/E level incorporates Standard & Poor’s earnings estimates and data taken from Robert Shiller’s Irrational Exhuberance.

6. BOND VALUATIONS BOND VALUATIONS Data is taken from Yahoo Finance and Bank of America High Yield Master Index: 1996-2009

7. GLOBAL DEMOGRAPHIC TRENDS BOND VALUATIONS Source: The Future for Investors, Jeremy Siegel 2050 2005 Population by Economy 84.8% 15.2% 87.7% Emerging Economies 12.3% Developed Economies

8. GLOBAL DEMOGRAPHIC TRENDS BOND VALUATIONS Source: The Future for Investors, Jeremy Siegel 2050 2005 GDP by Economy 46.7% 53.3% 77.1% Emerging Economies 22.9% Developed Economies

9. FUTURE TAX PLANNING FUTURE TAX PLANNING Source: Urban Brookings Tax Policy Center

10. FUTURE TAX PLANNING FUTURE TAX PLANNING Source: Urban Brookings Tax Policy Center

11. INFLATION VS. DEFLATION INFLATION VS. DEFLATION Source: US Federal Reserve Board, NSA Monetary Base

12. INFLATION VS. DEFLATION INFLATION VS. DEFLATION Source: US Federal Reserve Board, Adjusted Excess Reserves of Depository Institutions, NSA

13. ACTIVE VS. PASSIVE ACTIVE VS. PASSIVE Source: Standard and Poors Indices Versus Active Funds Scorecard- June 30, 2009

14. QUESTIONS & ANSWERS QUESTIONS & ANSWERS Thank you for attending! Contact Information: www.greenspringwealth.com 443-564-4600