The Investment Management business of CBRE Group, Inc. ("CBRE") started in 1972. CBRE Investment Management was formed in 1994 (under the name of a prior owner). CBRE Global Value Investors was formed in 1999 and began investing in real estate in April 2000. The Advisers are indirect, wholly owned subsidiaries of CBRE (a publicly traded company in the United States). The Advisers, together with their affiliates within the Investment Management business of CBRE, provide investment and asset management services to clients in programs spanning the risk spectrum, including equity and debt, direct and indirect, real estate and infrastructure, and listed and unlisted strategies in real assets to clients (and investors in Investment Funds) in the United States, Canada, the United Kingdom, continental Europe, the Middle East and Asia. We primarily (but not exclusively) engage in two lines of business: (i) we act as sponsor, manager, general partner and/or investment adviser of commingled investment vehicles and other programs, such as limited partnerships, limited liability companies, joint ventures and other commingled or investment vehicles (“Investment Funds”) (we call these Investment Funds the “Strategic Partners U.S.”, “Core”, “Development”, “Logistics” and “Credit” funds but we also manage or advise discrete Investment Funds on behalf of funds and clients managed by our Indirect division); and (ii) we act as manager, general partner, investment adviser and/or investment manager or adviser/sub-adviser for separately managed accounts for certain clients (“Separate Accounts”). Our Investment Funds and Separate Accounts (together, our “clients”) cover a range of the risk/return spectrum and make investments in real estate and real estate related assets (including land and development assets). The Advisers generally provide investment advisory or management services to each client in accordance with a limited partnership agreement (or analogous organization document), investment management or advisory agreement, portfolio management agreement, asset management agreement, sub-advisory agreement or a similar type of agreement (each, an “Advisory Agreement”). Generally, our investor base for the Investment Funds includes large institutional investors, such as public and corporate pension plans and sovereign wealth funds. Many of these investors have their own independent consultants or advisers to assist them in their investment

choices. Investors in our Investment Funds are generally required to be “accredited investors” within the meaning of Regulation D under the Securities Act of 1933, as amended. For our Investment Funds, investment advice is provided directly to the Investment Funds and/or underlying fund entities, subject to the discretion and control of the Investment Funds’ general partners (or analogous party), and not to investors in Investment Funds based upon their individual needs. Investment restrictions of the Investment Funds, if any, are generally established in the organizational or offering documents of the applicable Investment Fund, Advisory Agreements and/or side letter agreements negotiated with investors in the applicable Investment Fund. For our Separate Account clients, investment advice is provided directly to the client (but not to the client’s individual beneficiaries/stakeholders), subject to the discretion and control of the client. Investment restrictions for the Separate Account clients, if any, are generally established in the organizational documents of the applicable client or in the Advisory Agreements with the client. Clients may impose certain restrictions, investment criteria and limitations with respect to Separate Accounts. In particular, clients may impose investment guidelines and/or restrictions that will be taken into account in acquiring, financing, managing and selling assets for the account. Investment guidelines or restrictions may limit the Advisers' ability to fully invest the account according to the investment objective desired by the client. As of December 31, 2023, the Advisers and their affiliates within the Investment Management business of CBRE managed on a discretionary and non-discretionary basis approximately $147.5 billion (gross asset value) / $122.4 billion (net asset value) in client assets consisting of real estate, infrastructure, and private equity assets held for investment purposes. Of this amount, the AUM of the Advisers and their Relying Advisers (as defined in applicable SEC rules and noted under Item 10) was approximately $24.0 billion (regulatory assets under management), all of which is managed on a discretionary basis. CBRE invests its own capital in many of our Investment Funds and, in more limited situations with Separate Account clients, to further align our interests with those of our investors, or for tax or other structuring purposes – see Item 7, Types of Clients.