Introduction to Seafarer Seafarer was founded in 2011 as a Delaware limited liability company. Seafarer was founded by Andrew Foster and Michelle Foster, who serve as the Firm’s Chief Investment Officer and Chief Executive Officer, respectively. The Firm is wholly owned by its founders and employees. The principal owner is the Andrew Theodore Foster and Michelle Marie Foster Revocable Living Trust, which is owned and controlled by Andrew Foster and Michelle Foster. Investment Management Services Seafarer provides continuous investment management services to client portfolios based on each client’s individual investment objectives, guidelines and/or restrictions, within the framework of the Firm’s investment approach (described below). Seafarer’s primary business is to manage investment portfolios for institutional clients. Seafarer may act either as the adviser or as the sub-adviser to its clients’ investment portfolios. Seafarer’s institutional clients consist of two investment companies that are registered under the Investment Company Act of 1940, as amended (the “Investment Company Act”), the Seafarer Overseas Growth and Income Fund (SFGIX/SIGIX) and the Seafarer Overseas Value Fund (SFVLX/SIVLX) (each a “Fund” and collectively the “Funds”). Each Fund is a series of Financial Investors Trust, an open-end, management investment company organized as a Delaware Statutory Trust. Seafarer currently offers two investment strategies, a “growth and income” strategy, utilized by the Seafarer Overseas Growth and Income Fund, and a “value” strategy, utilized by the Seafarer Overseas Value Fund. As of March 26, 2024, Seafarer managed $3,533,340,127 in client assets on a discretionary basis. The Firm does not advise any client assets for which it does not have discretionary authority. Growth and Income Strategy Seafarer’s “growth and income” strategy operates by investing in a range of securities and asset classes from markets around the world. The strategy’s geographic focus pertains to overseas securities markets, particularly those typically considered “emerging” or “frontier” markets, although the strategy may occasionally utilize securities originating from selected “developed” markets as well. Asset classes include publicly-listed common and preferred equities, corporate debt and convertible bonds, sovereign debt, short-term currency-related contracts, short-term U.S. government securities, and other cash-like instruments. The strategy may invest in securities denominated in U.S. dollars or in foreign currencies. The strategy seeks to provide long-term capital appreciation along with some current income; it also seeks to mitigate adverse volatility in returns. Portfolios managed using this strategy are generally comprised of securities identified through an individual security selection process based on fundamental research. The strategy invests predominantly in the securities of companies that the Adviser believes are capable of producing sustained growth over long periods of time, while simultaneously paying substantial and growing dividends. The strategy’s intent is to offer investors a relatively stable means of participating in developing countries’ growth prospects, while attempting to mitigate adverse volatility in returns. The strategy may invest in the securities of issuers from developing countries and territories that include, but are not limited to: Africa: Botswana, Ghana, Kenya, Mauritius, Morocco, Nigeria, Tunisia, South Africa, and Zimbabwe East and South Asia: Bangladesh, China, India, Indonesia, Malaysia, Pakistan, Philippines, South Korea, Sri Lanka, Taiwan, Thailand, and Vietnam Emerging Europe: Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Georgia, Greece, Hungary, Lithuania, Kazakhstan, Poland, Romania, Russia, Serbia, Slovenia, Turkey, and Ukraine Latin America: Argentina, Brazil, Chile, Colombia, Jamaica, Mexico, Peru, and Trinidad and Tobago Middle East: Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, and United Arab Emirates The strategy may also invest in the securities of issuers from selected foreign developed countries and territories, which in the Firm’s opinion have significant economic and financial linkages to developing countries. Such countries and territories include, but are not limited to, Australia, Hong Kong, Ireland, Israel, Japan, New Zealand, Singapore, and the United Kingdom. Value Strategy Seafarer’s “value” strategy operates by investing in a range of securities and asset classes from markets around the world. Asset classes include publicly-listed common and preferred equities, corporate debt, short-term currency-related contracts, short-term U.S. government securities, and other cash-like instruments. The strategy may invest in securities denominated

in U.S. dollars or in foreign currencies. A portfolio managed using this strategy will generally be comprised of securities identified through an individual security selection process based on fundamental research. The Adviser employs a “value” style of investing for this strategy. A “value” style of investing emphasizes investing in companies that currently have low or depressed valuations, but which the Firm believes have the prospect of achieving improved valuations in the future. This strategy seeks to produce a minimum long-term rate of return by investing in securities priced at a discount to the Adviser’s estimates of their intrinsic value. The strategy’s geographic focus pertains to overseas securities markets, particularly those typically described as “emerging” or “frontier” markets. The strategy invests primarily in companies located in, and securities issued by the governments of, such markets. The strategy may invest in the securities of issuers from developing countries and territories that include, but are not limited to: Africa: Botswana, Ghana, Kenya, Mauritius, Morocco, Nigeria, Tunisia, South Africa, and Zimbabwe East and South Asia: Bangladesh, China, India, Indonesia, Malaysia, Pakistan, Philippines, South Korea, Sri Lanka, Taiwan, Thailand, and Vietnam Emerging Europe: Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Estonia, Georgia, Greece, Hungary, Lithuania, Kazakhstan, Poland, Romania, Russia, Serbia, Slovenia, Turkey, and Ukraine Latin America: Argentina, Brazil, Chile, Colombia, Jamaica, Mexico, Peru, and Trinidad and Tobago Middle East: Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, and United Arab Emirates The strategy may also invest in the securities of issuers from selected foreign developed countries and territories, which in the Firm’s opinion have significant economic and financial linkages to developing countries. Such countries and territories include, but are not limited to, Australia, Hong Kong, Ireland, Israel, Japan, New Zealand, Singapore, and the United Kingdom. Client Accounts Seafarer manages client accounts on a discretionary basis. Seafarer manages each Fund in accordance with its written investment objectives, strategies and guidelines, as disclosed in the Funds’ registration statement. The investment program of a Fund cannot be tailored to the individual needs of any particular investor. Investment in a Fund does not create an advisory client relationship between the investor and Seafarer. Therefore, investors should consult their own financial advisors regarding whether a Fund meets their investment objectives and risk tolerance prior to investing. Seafarer manages other advisory clients’ assets based on the individual needs of the client, which are stated in the written investment objectives and guidelines set forth in the client’s advisory agreement or other agreement. Seafarer cannot guarantee or assure clients that their investment objective(s) will be achieved. Seafarer does not guarantee the future performance of any client's account, any specific level of performance, the success of any investment decision or strategy that the Firm may use, or the success of the overall management of any account. Seafarer does not guarantee any client portfolio against loss. The investment decisions that Seafarer makes for client accounts are subject to various market, currency, economic, political and business risks, and the risk that investment decisions will not always be profitable. Many of those risks are discussed in Item 8 (“Methods of Analysis, Investment Strategies and Risk of Loss”), which all prospective clients should review carefully before deciding to engage Seafarer’s services. Since Seafarer’s investment services focus on foreign securities markets, and emerging markets in particular, the services may not constitute a complete or balanced investment program. They should represent only part of an investor’s broader portfolio. Market Commentaries, Marketing and Sales Activities In order to promote its services, Seafarer engages in sales and marketing activities, including responding to client requests for information (RFIs) and presenting or making available information on Seafarer’s investment capabilities, as well as sharing education materials, market commentaries, white papers, and other resources. Clients and prospective clients should be aware that these materials should not be considered investment advice. While Seafarer aims to provide accurate information and comply with applicable law in all of its sales and marketing activities, including in publishing market commentaries and white papers, clients and prospects who want professional guidance on whether or not to hire Seafarer, or whether or not to invest in a particular Fund, should seek independent advice.