THE COMPANY McKinley Capital Management, LLC (“McKinley Capital”) is registered as an investment adviser under the U.S. SEC Investment Advisers Act of 1940 (“Advisers Act”). McKinley Capital is a Delaware limited liability company. Effective December 31, 2023, Denali Advisors, LLC, (“Denali”), a San Diego, CA based registered investment adviser under the SEC Registered Investment Advisers Act of 1940 acquired McKinley Capital from McKinley Management, LLC. Denali became the 100% owner of McKinley Capital. McKinley Management, LLC, acquired a minority ownership interest in Denali. The McKinley Capital team will continue to operate as its own registered investment adviser until such time as Denali chooses to integrate the two businesses. The McKinley Capital team will continue to work from their Anchorage, AK location but will have the benefit of the combined organization’s depth in quantitative research, portfolio management, and trading and operations. Denali is a Native American minority-owned quantitative-based institutional asset manager primarily focused on value equity markets. The two advisers do not compete for business or clients. Once integrated, the benefit to McKinley Capital and Denali is that the acquisition provides a path forward for growth and sustainability by adding assets under management, offering more investment products, and opening new business channels. The transaction is anticipated to fortify both businesses well into the future. Both “quant” style investment firms are focused on services and innovation, both have strong performance track records with long-term client relationships, both are employee-owned and operated, and both have roots in Alaska. The investment strategies are complimentary with little overlap because Denali focuses on value investing while McKinley Capital is a growth-oriented manager. McKinley Capital Management, LLC was founded by Robert B. (“Bob”) Gillam in 1990. Bob Gillam unexpectedly passed away in September 2018. Robert A. (“Rob”) Gillam was appointed Chief Executive Officer (“CEO”) on October 1, 2018. He retained his role as President and Chief Investment Officer (“CIO”) of McKinley Capital Management, LLC. Effective December 31, 2023 Robert A. Gillam, CEO/CIO of McKinley Management, LLC resigned his position as CEO and President but will continue to act as the Chief Investment Officer of Growth Equities for McKinley Capital. Stacia Gillam resigned as Chief Strategy Officer. Ian Walser resigned as Chief Financial Officer. Jill McLeod no longer provides legal support for McKinley Capital after the transaction closes. Kenneth Lenhart remains as Chief Operating Officer. Robert Snigaroff, Ph.D., President of Denali also became President of McKinley Capital. Michael Munson will be Senior Vice President. Since its founding in 1990, through 2023, McKinley has been 100% owned by employees, former employees, advisors, and/or trusts for employees and their family members. After the acquisition, Denali will own 100% of McKinley Capital. McKinley Management, LLC will own 11% of Denali. The majority of membership interest ownership in Denali is held by employees, directors and officers with an approximate 20% ownership by a third-party private equity investment firm. No McKinley Capital business lines or products will be terminated or affected at the time of the acquisition agreement due to the purchase arrangements. No change in fee billings is initially anticipated. McKinley Capital will continue to operate with the current personnel under the current business structure until such time as Denali integrates the firms. No other changes are made at this time. Middle East Africa South Asia (MEASA) McKinley Capital funded an investment strategy focused on the Middle East, Africa and South Asia (“MEASA”) region in early 2018. McKinley ME Holdings, LLC (“Holdings”) a Delaware limited liability company, was created as its investment affiliate in connection with the MEASA strategy. Holdings is 100% owned by McKinley Capital and is responsible for implementing the investment program dedicated to this approach. The McKinley Capital MEASA Fund OEIC Limited (“MEASA Fund OEIC” or “Fund”) is registered with the Financial Services and Markets Regulatory Authority (“FSMR”) in the Abu Dhabi Global Market (“ADGM”) as a Qualified Investor Fund and serves as the master investment vehicle to make and hold portfolio investments. The Fund is designed to offer qualified institutional investors a unique opportunity to access regional expertise, quantitative research, specialized portfolio management skills, and substantial capital investments across this distinctive but hard to access region, with significant idiosyncratic prospects as the capital markets expand. The Fund is domiciled in Abu Dhabi but available to qualifying investors in other regions and countries. The MEASA Fund OEIC has not registered as a public offering with the Securities and Exchange Commission. However, shares may be offered under Rule 506 of Regulation D safe harbor exemption to qualified purchasers and accredited investors. McKinley Capital has entered into an Investment Management Agreement with the Fund and receives investment management fees including performance fees for its services. Investors access the MEASA Fund OEIC through a Cayman Islands Limited Partnership. The McKinley Capital MEASA Feeder GP Ltd (the “General Partner”), a Cayman Islands exempted limited company, was formed in the Spring of 2018 to serve as the General Partner to the McKinley Capital MEASA Feeder Fund L.P., a Cayman Islands exempted limited partnership (the “Cayman Islands Feeder” or “Feeder Fund”). Currently, the Feeder Fund is the sole feeder fund to the MEASA Fund OEIC (the “MEASA Fund” or “Master Fund”). Each feeder fund organized by the Fund (including the Cayman Islands Feeder) will invest substantially all of its assets in the Master Fund. The MEASA Fund is domiciled in Abu Dhabi, at: Office 4008, ADDAX Tower, City of Lights, Al Reem Island, Abu Dhabi, United Arab Emirates, but available to investors in other regions and countries. Investors are subject to qualified purchaser requirements and all conditions described in the Confidential Private Placement Memorandum. Additional investors will not be offered revenue-sharing arrangements with the same terms as the client that provided the initial funding. Depending on the size and circumstances of any specific future investments, different revenue sharing arrangements may be offered to new investors. Shareholders in the MEASA Fund will not be charged for any such arrangements. Further information regarding the MEASA Fund and its fees and expenses are available upon request to prospective qualified investors. McKinley Capital shares office space with several McKinley Management, LLC companies, including McKinley Alaska Private Investment, LLC, a registered investment adviser under the SEC Registered Investment Advisers Act of 1940. The only relationship is that McKinley Management, LLC has a minority interest in Denali, the parent company of McKinley Capital. The two advisors do not compete for client business. McKinley Capital is a public equity investment firm and McKinley Alaska Private Investment, LLC is a private investment oriented firm. INVESTMENT SERVICES McKinley Capital is an independent privately held global investment adviser headquartered in Anchorage, Alaska. McKinley Capital directs most of its resources to growth public investment related opportunities and will accommodate and customize portfolios that include multiple disciplines. Private investment opportunities may be presented to existing clients and prospects as deemed appropriate. McKinley Capital offers diversified investment strategies that include but are not limited to U. S. Equities, Non-U.S. Equities, Global Equities, Emerging Markets Equities, and alternative strategies. The McKinley Capital investment philosophy for its public investment strategies is founded on the basic tenets of Modern Portfolio Theory - a computational investment philosophy pioneered by the late Dr. Harry Markowitz, Ph.D. We believe the value of an asset is directly related to its future growth prospects. We apply this core belief to companies whether global or local; as well as industries, countries, and regions. McKinley Capital has more than 30 years of experience as a growth style manager using a disciplined process of quantitative analysis plus a human qualitative overlay to create traditional and custom strategies for client investment. Our investment methodology believes that excess market returns can be achieved through the construction and management of a diversified, fundamentally sound portfolio of inefficiently priced securities whose earnings growth rates are accelerating above

market expectations. Our public investment style is based on growth acceleration and the Growth, Momentum, and Selection risk factor exposures. In addition to common stock equivalent investing, the firm may also provide clients with specialized investing in leveraged products, short selling, swaps, futures, options, initial and secondary public offerings, private placements, non-exchange traded instruments, master and limited partnerships, real estate investment trusts, dividend enhancement portfolios, and other customized management techniques. McKinley Capital’s single proprietary investment engine is highly adaptable to nearly all equity markets and product designs. This investment philosophy is not market cycle dependent. The firm believes in transparency and continually works with its clients so that they understand the nature of its investment model and the underlying data. Based on its holistic model approach, McKinley Capital has the ability to customize portfolios to each client’s needs. Current global and domestic strategies and strategy blends include but are not limited to: 1. Traditional Strategies a. U.S. Diversified Income b. U.S. Equity Income c. U.S. Large Cap Growth d. Business Development Company e. Global Core Growth f. Global Growth ADR g. Non U.S. Growth ADR 2. Customized Strategies a. MEASA – Middle East, Africa, South Asia The MEASA region forms a crescent of countries beginning with Bangladesh and India in the East, continuing through the Middle East and West Africa, and terminating with the South African nations. This grouping of countries has a long history of cultural, economic, and political advantages and achievements. However, institutional investors in most countries face significant barriers to effectively purchase stock at scale and in diversity from the region. Liquidity appears limited, and registration and custody arrangements are formidable. Currently, this strategy is offered as a fund. b. Global Healthcare Transformation McKinley Capital designed and implemented a Global Healthcare Transformation strategy to capture opportunity arising from the transformation of the global healthcare industry over the next several decades. COVID-19 and the resulting pandemic economy accelerated the adoption of healthcare innovation and increased the relevance of this investment strategy. The Global Healthcare Transformation Strategy (the “Healthcare Transformation”) targets critical innovative themes with the greatest potential to impact the healthcare industry and provide investors with a range of uniquely designed, differentiated, and high-capacity public equity portfolios tailored to their individual sets of risk, volatility and return. The companies at the forefront of this transformation will benefit from superior organic growth prospects in large, growing domestic, and international markets and provide investors with the potential for superior returns versus traditional benchmarks. The two-pillar approach blends a high capacity public equity (beta) return, alongside an idiosyncratic and highly concentrated set of public and private equity (alpha) positions, overlaid with risk management protocols. This investment strategy, supported by research and data analytics, actively seeks to measure and harvest valuation anomalies in the public markets and exploit optimal points of entry. As mentioned above, a current client has entered into a fee sharing agreement with McKinley Capital to initially fund this strategy. Other investors will not be granted the same fee structure, but fees will be negotiated depending on the size of the initial investment and customization requirements. c. McKinley Capital may perceive an untapped market or investment style that it will back test over a period of 10-20 years to create a quantitative model that provides sustainable and factual analysis of data over several market cycles to prove out the theory of the strategy. Once the strategy has been refined, the “Emulation Portfolio” may be discussed with certain institutional clients and Consultants and potentially provided to clients. These back tested strategies are clearly disclosed as such, have no invested assets and have never traded in the marketplace. All Emulation Portfolio strategies carry additional investment risks that are fully disclosed prior to finalizing any investment agreement. d. McKinley Capital may also provide nondiscretionary advice to clients. Such relationships may include timely growth equity research and trading information, emulation or model portfolios, and/or other assistance associated with existing or client specific products. Clients may wish to purchase the strategy but conduct the trading activity through another entity. These accounts are considered to be model accounts for internal recordkeeping and fee billing purposes. McKinley Capital does not control trading activity for such accounts. Executions and overall returns may be significantly different than that obtained for discretionary clients in the same or similar strategies. Information and services provided to model client portals are typically not concurrent with actively traded discretionary accounts. Please refer to Section 12 Brokerage Services for additional information. e. McKinley Capital may upon written agreement, maintain non-discretionary portfolios on behalf of institutional clients who wish to independently perform some but not all investment management and associated account services on their own. Clients may hire McKinley Capital to provide investment advisory industry related services such as monthly and quarterly portfolio analysis, proxy voting services, trading, settlement, and operations assistance, strategy or industry research, and other investment management related services as from time-to-time may arise and be mutually agreeable. McKinley Capital may opportunistically partner with other financial and business-related organizations to create, manage, promote and support new investment products and relationships. Such associations will align with McKinley Capital’s business and investment models and objectives. No conflicts of interest are anticipated, and the firm believes that any affiliations will not detract from or negatively impact operations or the investment process for current clients. Remuneration will depend on the financial and business structure of the liaison, but any fees shared or accrued to McKinley Capital will not compete with current investment management fees. CLIENT RELATIONSHIPS The firm acts as an investment adviser to various types of institutional clients, individual clients, and registered and non-registered funds. (Please refer to item #7 for additional details.) McKinley Capital also participates as a sub-adviser in various wrap fee programs and provides emulation or model portfolios to clients. In addition, the firm is the general partner and/or investment adviser to multiple commingled investment funds including, but not limited to, an onshore limited partnership and a statutory trust. McKinley Capital, within the scope of its quantitatively driven growth equity process and products, will tailor its advisory services to customize investment disciplines in alignment with the individual needs of each client. The firm has experience constructing portfolios with environmental, socially responsible and other governance driven client-imposed restrictions. Due to the need for additional supervisory and portfolio management oversight requirements for such accounts, McKinley Capital generally limits customized portfolios and other tailored services to institutional accounts. Most non-institutional accounts are managed according to McKinley Capital’s established firm guidelines within the designated discipline. McKinley Capital commingled funds are available to all clients. WRAP FEE PROGRAMS McKinley Capital participates in wrap fee programs by providing portfolio management services. The firm manages wrap fee accounts in the same manner as it manages other individual accounts within the same discipline. The services and reporting packages are individually agreed upon with each wrap sponsor. Generally, wrap programs are considered to be directed brokerage accounts. McKinley Capital receives a portion of the wrap fee for its management services. Clients participating in a wrap program that may have part or all of the account assets invested with McKinley Capital should discuss the program structure and details with the wrap sponsor or provider. ASSETS UNDER MANAGEMENT As of December 31, 2023, McKinley Capital managed approximately $988 million in discretionary assets. In addition, as of that date, the firm managed several client accounts on a non-discretionary basis totaling approximately $7.5 million in model portfolio arrangements.