Scharf Investments, LLC (“Scharf” or the “Firm” or “Advisor” or “we”) is a limited liability company organized under the laws of the State of Delaware. The Firm is employee controlled and has been registered with the SEC since 1983. Brian A. Krawez is the Manager and serves as President and Chairman of the Investment Committee at Scharf. iM Square Holding 5 LLC is an owner of the Company. iM Square Holding 5 LLC is a wholly-owned subsidiary of iM Square SAS, a Paris-based investment and development platform dedicated to the asset management industry. Legendre Holding 36 is the principal owner of iM Square SAS. The principal owner of Legendre Holding 36 is Eurazeo SE, a European investment firm. The Firm provides investment advice and portfolio management for individuals, registered investment companies (including UCITS), retirement accounts, trusts, family offices, corporations, endowments and foundations through separately managed client accounts. Scharf typically tailors its investment services to the individual needs of each client by managing each such account according to the strategy selected by the client. We principally, but not solely, invest in equity and fixed income securities that are traded publicly in both U.S. and foreign markets on behalf of clients, but are authorized to enter into any type of investment transaction that we deem appropriate, pursuant to the terms of a client’s account agreement. Scharf’s discretionary authority is limited, however, as described in Item 16. Scharf offers financial planning services to clients. Focus areas may include, but are not limited to, retirement planning, estate planning, business succession planning, education planning, and investment planning. These services include assessing a client’s present financial situation

and assisting with defining personal financial goals and objectives. The Firm will assist the client with implementation of agreed upon planning recommendations, but the client is fully responsible for all decisions related to implementation of the advice given. Scharf does not serve as a law firm, accounting firm, or insurance agency, and no portion of its services should be viewed as legal, accounting, or insurance implementation services. Accordingly, the Advisor does not prepare estate planning documents, tax returns, or sell insurance products. However, to the extent requested by a client, Scharf may recommend the services of other professionals for implementation purposes (i.e. attorneys, accountants, insurance agents, etc.). The client is under no obligation to engage the services of any recommended professional, and Scharf will not receive any compensation, directly or indirectly, for making such a referral. The Firm participates in certain wrap fee programs acting as a sub-adviser to an investment sponsor. Scharf also participates in model-based Managed Accounts Programs. In such programs, the Firm shall provide the Program Sponsor non-discretionary investment advice through model portfolios. Investment management provided to wrap fee clients is substantially the same as that provided to non-wrap fee clients. However, certain wrap fee accounts may result in slightly different returns due to investment limitations imposed by investment restrictions, administrative restrictions, and the wrap fees imposed by wrap fee sponsors. As of December 31, 2023, Scharf had assets under management of approximately $4.5 billion. This consisted of $3.2 billion in discretionary assets, and $1.3 billion in non-discretionary assets. Scharf Investments, LLC ADV2A Brochure 4