Miller Value Partners, LLC (“MVP” or the “Firm”) was founded in 1999. Prior to August 2017, MVP conducted business under the name “LMM LLC.” MVP provides discretionary investment management services to mutual funds, exchange-traded funds, institutions, and individual private accounts. MVP may also provide investment management services to private funds that are offered exclusively to sophisticated investors. Investors in the private funds will be accredited investors (as defined in Rule 501 of Regulation D promulgated under the Securities Act of 1933, as amended) and qualified clients (as defined in Rule 205-3 promulgated under the Investment Advisers Act of 1940, as amended). The Firm also provides discretionary and non-discretionary investment advice to other financial service firms and/or overlay managers through the delivery of model investment portfolios. As of December 31, 2023, MVP managed approximately $227.4 million in assets on a discretionary basis and approximately $10.3 million in assets on a non- discretionary basis. Bill Miller IV, the Firm’s Chairman and Chief Investment Officer, is the principal owner of the Firm. MVP’s equity and income investment strategies adhere firmly to a value-driven, research-intensive investment process. By adhering to a consistent, value-driven process, the Firm strives to outperform its benchmarks over the long-term. MVP actively selects securities that it believes are trading at a discount to intrinsic value. The Firm seeks to provide its equity client accounts with long-term capital appreciation and its income strategy seeks to provide clients with a high level of income while preserving the potential for capital growth. MVP currently offers the following investment strategies: Income Strategy The Income strategy seeks to provide clients with a high level of income while preserving the potential for capital growth. The portfolio managers exercise flexible strategies in the selection of investments, not limited by investment style or asset class, and accounts may be invested in securities, derivatives and other financial instruments. Deep Value Select Strategy The Deep Value Select strategy invests primarily in publicly traded equity securities. The securities purchased will tend to have valuation characteristics (e.g. Price to Book, Price to Cash Flow and Price to Sales Ratio), that are at a deep discount to the market and in the lower-end of historical ranges. Deep Value Select accounts have significant concentration and will generally consist of approximately 10-20 holdings. Private Funds The Firm may also offer additional investment strategies exclusively through private funds. The private funds may be managed using the Firm’s value-driven, research intensive investment process and others may employ proprietary models. More information about the strategies that may be employed by a private fund is contained in the applicable private placement memoranda. Model Programs The Firm may also provide discretionary and non-discretionary investment advice to other financial service firms (“Program Sponsors”) and/or overlay managers through the delivery of model investment portfolios (“Discretionary Model Program” and “Non-Discretionary Model Program” respectively, and collectively referred to as the “Model Program”).

In the Non-Discretionary Model Program, the Firm does not consider itself to have an advisory relationship with clients of the Program Sponsor or overlay manager. If this brochure is delivered to Program Sponsor’s model-based clients with whom the Firm does not have an advisory relationship, or where it is not legally required to be delivered, it is provided for informational purposes only. Program Sponsors are responsible for reviewing their clients’ financial circumstances and investment objectives and determining the suitability of the Firm’s strategy and the Model Program for their clients (“participants”). Generally, Program Sponsors are primarily responsible for client contact. Subject to applicable law and fiduciary obligations, the Firm will make reasonably available to Program Sponsors and their clients certain staff knowledgeable about the services being provided by the Firm for discussions at the strategy level. In the Model Program, the Firm provides model portfolio advice through an agreement with Program Sponsors and/or an overlay manager. The Firm monitors and updates the model portfolios on an ongoing basis and delivers updates to the Program Sponsor or overlay manager. Program Sponsors or an overlay manager will provide participants the services described in the Program Sponsor’s or overlay manager’s agreement with such participants, including selection of the investment strategies based on information provided by the participant. The Firm does not provide customized investment advice or recommendations to Model Program participants. No model portfolio is personalized or in any way tailored by the Firm to reflect the personal financial circumstances or investment objectives of any participant. In the Non- Discretionary Model Program, the Program Sponsor retains investment and brokerage discretion and is responsible for all investment decisions. In the Discretionary Model Program, the Firm forwards investment advice to the overlay manager designated by the Program Sponsor, who agrees to implement the advice in client accounts taking into account any client imposed restrictions accepted by the overlay manager. The Firm does not have brokerage discretion in any Model Program and thus has no authority to place orders for the execution of transactions. In addition to the investment strategies described above, the Firm may, from time to time, agree to manage accounts according to different investment guidelines specifically negotiated with a client. Additional Information All of MVP’s strategies tend to be relatively concentrated and this concentration, together with potential exposure to smaller companies, is likely to create more volatility over shorter time periods versus other investments or more diversified strategies. MVP’s investment management services are typically provided on a fully discretionary basis; however, clients may request that the Firm adhere to restrictions in managing their accounts (for example, limits on the percentage invested in a particular security or type of security; limits on industry concentration; or prohibitions against investments in particular securities or types of securities). In most circumstances, the Firm will accommodate requested client restrictions provided they do not interfere materially with the portfolio construction process.