A. Description of Firm Research Affiliates, LLC (“Research Affiliates”), a California limited liability company, was founded in 2002 and offers globally innovative investment, smart beta, and asset allocation strategies. One of its competitive advantages rests in the strength of its research and development capabilities and ability to respond to the current needs of the global investment community. Leveraging its strong research focus, Research Affiliates designs and creates innovative products and services, which are distributed through various financial institutions. The strategic alliances Research Affiliates has with major financial institutions throughout the world predominantly take the form of sub-advisory and licensing relationships. RAFI Indices, LLC (“RI”), a California limited liability company, was established in 2016 and constructs, publishes and licenses various indices; RI does not provide investment advisory services. RI does not have any employees and instead relies on the employees of Research Affiliates to provide certain contract-based services. In addition, RI relies on Research Affiliates’ intellectual property to construct its indices pursuant to a licensing agreement. Christopher Brightman serves as Chief Executive Officer and Chief Investment Officer of Research Affiliates, whose primary office is in Newport Beach, California. Both Research Affiliates and RI are wholly owned subsidiaries of Research Affiliates Global Holdings, LLC. B. Principal Owners Research Affiliates Global Holdings, LLC (“RAGH”) is the holding company for Research Affiliates. RAGH is owned and principally controlled by members of Research Affiliates’ senior leadership team. RAGH, through its Board of Directors (“Board”), oversees the firm’s strategic direction and supervises the Chief Executive Officer. The Board is comprised of those certain executive and non-executive members of Research Affiliates’ senior leadership team, with Robert D. Arnott serving as Chairman. C. Types of Advisory Services Provided Many of the services described and offered by Research Affiliates are based on its patented intellectual property. 1. Management and Advisory Services Research Affiliates provides management and discretionary investment advisory services to private funds. 2. Sub-Advisory Services Research Affiliates provides investment sub-advisory services on a discretionary and non- discretionary basis to registered investment companies by creating a model portfolio and providing updated input data and consulting services regarding the models. Research Affiliates also provides sub-advisory services to other independent third-party investment advisers, private funds,

registered investment companies and separately managed accounts (“sub-advised accounts”). The private funds, registered investment companies and separately managed accounts are offered by unaffiliated third parties. 3. Model Portfolios Research Affiliates, on a non-discretionary basis, designs model portfolios, pursuant to its proprietary research, with monthly weighting allocations and exposure to a wide range of asset classes and geographic regions, (each a “Model Portfolio”). Model Portfolios are generally provided to third parties for implementation in separately managed accounts and / or distribution to financial advisors, including independent advisor (RIAs) or wealth management firms. 4. General Information Relating to Research Affiliates’ Advisory Services Prior to the start of a client relationship, each client enters into a written agreement with Research Affiliates setting forth the terms and conditions under which Research Affiliates will provide its services (each, an “Agreement”). In accordance with applicable laws and regulations, Research Affiliates will provide its disclosure brochure (Form ADV Part 2A) and most recent privacy notice to each advisory client prior to or contemporaneously with the execution of the Agreement. The Agreement between Research Affiliates and a client will continue in effect until terminated by either party pursuant to the terms of the Agreement. Any fees paid to Research Affiliates in advance shall be prorated through the date of termination and any remaining balance shall be charged or refunded to the client, as appropriate, in a timely manner. Neither Research Affiliates nor any client may assign the Agreement without the written consent of the other party. Transactions that do not result in a change of actual control or management of Research Affiliates shall not be considered an assignment. Information relating to our senior management team members is provided in Form ADV Part 2B, Research Affiliates’ Supplemental Brochure. As of December 31, 2023, Research Affiliates, LLC managed approximately $28,392,009,518 in regulatory assets under management, $27,017,858,370 on a discretionary basis, and $1,374,151,148 on a non-discretionary basis. In total, the regulatory assets under management, combined with assets managed by third parties utilizing index strategies developed or branded by Research Affiliates, equaled approximately $139,128,734,097 as of December 31, 2023. 5. Other Research Affiliates Services Research Affiliates also provides non-advisory services utilizing the Fundamental Index™ methodology to the creator of various indexes. Investment products tracking these indexes are distributed by broker dealers.