Lyrical is a Delaware limited partnership founded in 2008 by Andrew Wellington and Jeffrey Keswin who are the principal and only owners of Lyrical. Lyrical is the investment adviser/manager for separately managed accounts, and the following commingled funds (the Funds and, together with the separately managed accounts, the Accounts): Lyrical U.S. Value Equity Fund (ticker: LYRIX), Lyrical Value Funds (Lux), WS Lyrical Value Funds (UK) ICVC, Lyrical Long-Only Partners LP (Long-Only LP), Lyrical Long-Only Partners II LP, Lyrical International Value Equity Fund (ticker: LYRWX) and U.S. Value ETF (ticker: USVT)(the ETF). As of February 29, 2024, Lyrical managed $6,681.9 million on a discretionary basis with an additional $614.0 million of assets under model portfolio delivery programs. Lyrical directs and manages the investment and reinvestment of the Accounts’ assets and provides reports to investors. Investments are limited to publicly-traded equity securities and cash equivalents. In our U.S. Value Equity strategies, we invest in U.S. listed equity securities. In our International Value Equity strategy, we invest in non-U.S. developed markets listed equity securities. In our Global Value Equity strategy and Global Impact Value Equity Strategy (GIVES), we invest in U.S. listed and other developed markets listed equity securities. Separately managed account clients may impose restrictions on investing in certain securities or types of securities; investors in the Funds may not impose such restrictions. We participate in model delivery

programs under which we earn fees for providing a model portfolio to the sponsors of those programs and we do not exercise discretion over accounts. Except where we are able to control and monitor the timing of trades, we update these model portfolios only after completion of trading for our discretionary accounts. In one such program we earn not only fees but also receive research credits for providing trade information. Some of these programs may constitute “wrap fee programs” as the sponsor may charge specified fees for their investment advisory services which include what we are paid for providing a model portfolio. Additionally, we have entered into sub-advisory arrangements under which we manage portfolios through a wrap fee program sponsor. The sponsor provides investment supervisory services to its clients, including recommending us to provide investment advice with respect to client portfolios. The clients enter into an agreement with the sponsor and the sponsor has a separate master agreement with us. For these accounts, we may effect transactions through other broker-dealers, but it is expected that most of the transactions will be executed through the sponsor (or the brokerage firm the sponsor designates) because part of the sponsor’s negotiated fees with the clients include brokerage commissions and trading costs. We manage these wrap program accounts on a discretionary basis and receive a portion of the wrap fee from the sponsor. We attempt to manage these accounts in the same manner as our non-wrap accounts.