Firm Description Giverny Capital Inc., (“Giverny”, “Firm” or “We”) is an investment management firm based in Canada, providing investment management services mostly to individuals in North America. Giverny also acts as investment fund manager and portfolio manager of the Giverny Capital Equity Fund, a private pooled fund established under the laws of the Province of Ontario (the “Giverny Fund”). The units of the Giverny Fund are only privately offered to residents of certain Canadian provinces having entered into investment management agreements with Giverny and meeting certain specific criteria. The Firm was founded in 1998. The Firm’s investment management services are limited to the discretionary management of investment portfolios (mostly consisting of equity securities) in accordance with Giverny's long-term investment management strategy. We do not provide insurance planning, estate planning, or any other related or unrelated consulting services. Giverny is strictly a fee-only investment management firm providing independent investment management services. The firm does not receive commissions for purchasing or selling annuities, insurance, stocks, bonds, mutual funds, limited partnerships, or other commissioned products. The Firm is not affiliated with entities that sell financial products or securities. No such commissions are accepted. Giverny does not act as a custodian of client assets and the client always maintains control over the assets in its portfolio. Giverny places trades on behalf of clients under a limited power of attorney. Giverny’s activities with respect to non-U.S. clients may differ from those described generally herein and the Firm may provide additional or different services to non-U.S. clients. Principal Owner Francois Rochon is the controlling shareholder. Types of Advisory Services Giverny provides investment management services, on a continuing basis, with respect to the investment and reinvestment of all cash, securities, and other property in a client’s account. A client’s account will normally contain a relatively small number of securities positions (typically between 20 and 30 equity securities) and may not constitute a

fully diversified or balanced portfolio that is suitable for investment of all of a client’s assets. Giverny manages a client account without the obligation to consider other investment assets or accounts that the client may have or maintain away from the Firm. A client’s account will generally not contain fixed income investments but may do so based on individual client needs. Tailored Relationships We have considerable flexibility in accommodating any unique client needs and constraints through our third party custodian that holds the assets of our clients in individualized accounts. This customization may include, but is not limited to, the types of asset classes selected, the securities selected, the size of the allocation to a particular security, etc. Clients may also impose restrictions on investing in certain securities or types of securities. Wrap Fee Programs The Firm does not engage in Wrap Fee Programs. Clients Assets As of 09/30/2023, Giverny manages approximately $1.76 billion US dollars in assets (with nearly 100% of the assets based in Canada). The totality of the assets under management by the Firm is managed on a discretionary basis. Investment Advisory Agreement The scope of work and fee for a client is agreed upon in an Investment Advisory Agreement that is signed by the client prior to the start of the management of any client assets. This agreement provides detailed information concerning what services are provided, the scope and limitations of these services, how fees are paid, etc. The Investment Advisory Agreement stipulates the annual fees related to Giverny’s investment management services. The fee is based on a percentage of a client’s assets under management. The management fee is negotiable under certain circumstances. Although the Investment Advisory Agreement is an ongoing agreement, the length of service to the client is at the client’s discretion. A client may terminate the investment advisory relationship by written notice at any time without penalty. At termination, management fees will be billed on a pro rata basis for the portion of the quarter during which client assets were under Giverny’s discretion.