Firm Description Cougar Global Investments Limited (Cougar Global) is an investment manager that utilizes tactical asset allocation to construct globally diversified portfolios. Effective 4/30/15 Cougar Global was acquired by Raymond James Financial, Inc. (NYSE:RJF) and in 2016 became an affiliate of Raymond James Investment Management (formerly known as Carillion Tower Advisors), a wholly-owned subsidiary of Raymond James Financial, Inc. Prior to 4/30/15 Cougar Global was an independent investment management firm not affiliated with any parent organization. Cougar Global is registered as a Portfolio Manager with the Ontario Securities Commission (OSC) and with the United States Securities and Exchange Commission (SEC) as a Non-Resident Investment Advisor. Prior to 01/02/2013, the firm was named Cougar Global Investments LP. Ownership Cougar Global is a wholly owned subsidiary of Raymond James International Canada (RJIC), a wholly owned subsidiary of Raymond James International Holdings (RJIH) which is a wholly owned subsidiary of Raymond James Financial (RJF), New York Stock Exchange (“NYSE”) Ticker (RJF), based in St. Petersburg, Florida. RJF is a diversified financial services holding company whose subsidiaries engage primarily in securities brokerage, investment banking, asset management and banking services. Types of Services Cougar Global provides investment advisory services to the following groups of clients: Certain sponsors have retained Cougar Global as an investment manager under a number of Wrap Programs. Wrap Program clients typically enter into an investment advisory agreement with the sponsor and the

sponsor enters into a sub-advisory agreement with Cougar Global to provide portfolio management services to the Wrap Program. In these circumstances, the sponsor is responsible for analyzing the financial needs of each particular Wrap Program client and determining whether Cougar Global’s portfolio management services are suitable for that client. Asset Management Style Since its founding in 1993, Cougar Global has specialized in global asset allocation and adheres to a strict discipline of downside risk management (Postmodern Portfolio Theory). A key concept in Postmodern Portfolio Theory is that only returns that fall below one’s target rate of return are risky. Losing money inflicts the greatest harm on the compound growth of wealth. Therefore, the goal is to continuously generate compound growth for clients by participating in bull markets and avoiding bear markets. This exercise establishes us as global tactical asset allocators. Since each investor has specific investment objectives, the asset mix must be customized to fit the particular situation. The discipline of downside risk management enables us to customize mandates to suit specific needs of individual investors, including risk and return objectives, income requirements, and time horizon. Four mandates are available, in US Dollars. Global Tactical Strategy-Conservative, Global Tactical Strategy-Conservative Growth, Global Tactical Strategy-Moderate Growth, Global Tactical Strategy-Growth. Since the founding, Assets Under Management As of September 30, 2023, Cougar Global’s AUA (asset under advisory from non-discretionary platform clients) are $ 1.4 billion.