Liontrust Investment Partners LLP (“LIP”) is a limited liability partnership offering investment management services to professional investors directly, through investment consultants and through other professional advisers. LIP was incorporated in England and Wales in January 2010 and is authorised and regulated by the Financial Conduct Authority. LIP is a wholly owned subsidiary of Liontrust Asset Management Plc, a public company listed on the London Stock Exchange, incorporated in England and Wales. Organisational Structure Diagram Liontrust Asset Management PLC is a publicly listed company on the London Stock Exchange; Liontrust Fund Partners LLP and Liontrust Investment Partners are regulated by the Financial Conduct Authority (FCA); and Liontrust International Luxembourg S.A. is a distribution business authorised and regulated by the CSSF. This brochure is in place to give information about Liontrust Investment Partners LLP (LIP), the registered under the Securities and Exchange Commission. Where the term ‘the Liontrust Group’ is used, this refers to the wider group of companies as above in the organisational structure diagram. Between March 2012 and August 2022 LIP was registered as an Exempt Reporting Advisor. Registration as a Registered Investment Advisor has been in place since December 2022. LIP manages a range of strategies and products across multiple asset classes including:
• Global Equities
• Global Fixed Income
• UK Equities
• Sustainable Investments
• Multi-Asset
• Model Portfolio Services These strategies are available through a range of actively managed investment products including segregated accounts, UK and Ireland domiciled fund vehicles and investment trusts allowing us to reach a broad spectrum of clients from institutional to private investors. Currently U.S persons are able to invest in Liontrust strategies through separately managed accounts. Please see Item 8, “Methods of Analysis, Investment Strategies and Risk of Loss” for more information on the investment strategies. Segregated accounts, where a client requests that a portfolio of their assets is managed within specific parameters as set out in an Investment Management Agreement (IMA) will typically be invested across asset classes and geographies. The return objectives and risk profile are determined by discussion with the portfolio manager and are detailed in the investment management agreements, including any restrictions on investing in certain types of securities. LIP offers a number of investment strategies that operate on a model basis. This is where clients can choose a strategy that will generally be managed in line with the model portfolio of that strategy whilst also allowing for a degree of flexibility for the client to set their own investment restrictions and guidelines. Certain client driven investment restrictions that lead to a difference from the model portfolio of the strategy may result in that client portfolio performing differently to the model and in some cases this performance may be inferior to that of the model portfolio or other accounts with similar investment strategies but with different investment restrictions and guidelines. Liontrust does not participate in any wrap fee programmes. The total assets under management and advice (AUMA) of Liontrust Asset Management Plc stated in the July 2022 financial statements was £35.5bn (or $38.8bn). This figure relates to the whole of the Liontrust Groups business. Item 5| fees and compensation

Segregated Accounts Liontrust’s fees for providing discretionary investment management services for segregated accounts, vary depending on the type of account, the strategy and the size of the proposed investment. Fees are typically based upon a percentage of the assets under management of an account. In some cases Liontrust may also charge performance based fees which are described in more detail in Item 6 below. Liontrust will generally bill segregated account clients quarterly in arrears but clients may choose different arrangements as part of their investment management agreement. Liontrust typically charges fees in arrears but where a client chooses to pay fees in advance and the account is terminated part way through a payment period, Liontrust would refund a pro-rated fee amount. Clients with their own custodian relationships may incur charges imposed by those custodians. Funds Clients invested in Liontrust fund vehicles will bear certain fees related to the operation of those fund vehicles. Such fees are disclosed in the relevant offering documents. For some strategies foundation fee rates and/or a mechanism incorporating a lower management fee with accompanying performance fee may be available by agreement. Liontrust’s fees are exclusive of brokerage commissions and other transaction related costs which may be incurred by the client. Other Information Liontrust does not accept compensation for the sale of securities or other investment products. Item 12 of this brochure “Brokerage Practices” has further information on Liontrust’s approach to the selection of broker-dealers it uses to effect trades on behalf of its clients and fund vehicles. Item 6 | performance based fees and side by side management Liontrust may, in agreement with a client, charge a fee that includes a performance related element as long as such fee arrangements are permitted under applicable laws and regulations including Section 205(a)(1) of the Investment Advisers Act of 1940 and the exemptions to that section including Rule 205-3. Because Liontrust may manage accounts that have a performance fee arrangement alongside accounts that have a standard asset-based fee arrangement there are potential conflicts of interest present. Liontrust may be incentivised to favour performance fee paying accounts over asset-based fee paying accounts in the allocation of investment opportunities. Liontrust mitigates the risk of these conflicts by having in place an order aggregation and allocation policy which is designed to allocate investment opportunities fairly between all relevant accounts over time. Liontrust allocates investment opportunities based on account AUM on a pre-trade basis. The policy provides in precise terms for the fair aggregation of orders and allocation of transactions, including how the volume and price of orders determines allocations as well as the treatment of partial executions. Further, Liontrust has a conflicts of interest framework comprising a conflicts of interest register managed and maintained by the compliance team and a conflicts of interest policy which is updated at least annually and must be read by all staff who then attest that they have read, understood and will abide by it. The compliance team under the compliance monitoring programme periodically engage with the business specifically on conflicts of interest to ensure the register is capturing any new potential conflicts as they develop. Further information on allocations is under Item 11 below.