OBJECTIVE:

The UCITS fund, domiciled in Ireland, invests in our Global Equity Strategy, which seeks long-term capital appreciation consistent with preservation of capital. Generating current income is a secondary goal.

Strategy

Our Global Equity Strategy emphasizes investment in industry-leading multinational
companies that operate in attractive industries experiencing long-term structural growth.
These companies benefit from an expanding global market share with products and services
that aim to capture the majority of the growing profit pools in their respective sectors.
In selecting securities to be included in our Global Equity Strategy, we seek to identify
companies that have demonstrated superior profitability, financial flexibility, and capital
stewardship and are positioned to maintain above-average earnings growth longer term. In
addition, their financial strength allows them to make profitable investments at any point
during the economic cycle. We also consider companies that we believe to be undervalued in
terms of earnings, assets, or growth prospects.

We believe that long-term stock price appreciation is based on long-term earnings growth.
Sustainable earnings growth is generally achieved by dominant market leaders that operate
in attractive industries experiencing long-term structural growth.

Our investment philosophy is anchored in deep fundamental research conducted by
specialized teams of industry experts where we develop long-term partnerships with
management teams as a result of our history of stable ownership. We consider ourselves
owners of businesses rather than traders of stock.

We identify major global growth trends and then seek to invest in dominant market leaders
that are best poised to benefit from those trends over the long-term.

The companies that we own possess similar quantitative and qualitative attributes,
including strong balance sheets, consistent profit and cash flow generation, reduced
volatility in down markets, high quality management teams, well executed strategies and
business models and a shareholder friendly orientation.

Sarofim & Co.

We are an independent, employee-owned global investment manager dedicated to high-
conviction, sustainable growth investing.

For over half of a century, we have demonstrated stability and consistency in our people,
philosophy, process and performance. Throughout our history, we have invested alongside
our clients and have delivered a successful long-term track record of outperformance while
taking lower risk.

At Sarofim & Co., we are driven by four core values that permeate every facet of our
business:

Portfolio Managers

Documentation

• Engagement Policy
• Responsible Investment Policy
• Modern Slavery Statement