Structure, History and Ownership ARGA Investment Management, LP (“ARGA” “we” or “the firm”) is an independent investment management firm focused on global equities. Founded in 2010 by A. Rama Krishna, CFA, who serves as Chief Investment Officer, ARGA invests in undervalued businesses using a disciplined investment approach based on fundamental research and present value. ARGA’s global organization is aligned around values, client service and results. ARGA is headquartered in Stamford, CT and has a subsidiary with two office locations in India, Chennai and Mumbai. ARGA also has a subsidiary located in London, United Kingdom. No investment advisory services are carried out in our India or UK offices. ARGA is organized as a Delaware limited partnership. ARGA is principally owned by A. Rama Krishna, who also serves as the firm’s Chief Investment Officer. The principal direct owners of ARGA are: ▪ A. Rama Krishna, CFA ▪ 2009 Krishna Family Trust Types of Advisory Services We offer discretionary investment management services to: ▪ A number of private investment funds or pooled investment vehicles (“Commingled Funds”), each a series of the ARGA Funds Trust, a Delaware statutory trust. Investors in the Commingled Funds comprise high-net-worth individuals and institutional investors including, but not limited to, trusts, foundations, corporations, endowments, and corporate and public pensions and family offices. Interests in the Commingled Funds are not registered under the Securities Act of 1933, as amended, and the Commingled Funds are not registered under the Investment Company Act of 1940, as amended. Accordingly, interests in the Commingled Funds are offered exclusively in private transactions within the United States by means of a private placement memorandum to investors satisfying the applicable eligibility and suitability requirements. Detailed terms applicable to investors in the Commingled Funds are described in the Declaration of Trust of the ARGA Funds Trust and in each Commingled Fund’s offering memorandum. ▪ Investment companies (“Mutual Funds”) registered with the SEC under the Investment Company Act of 1940 and located in the United States. These include the ARGA Emerging Markets Value Fund, ARGA International Value Fund and ARGA Value Fund, each a series of The Advisors’ Inner Circle Fund III. ▪ Collective Investment Trusts (“CIT Funds”) available to US tax qualified pension and profit-sharing plans, governmental plans, retirement income accounts and other tax qualified investors. The CIT Funds are each a separate fund of the ARGA Investment Management Collective Investment Trust, established pursuant to a Declaration of Trust dated November 7, 2022, as amended from time to time, and organized under the laws of the Commonwealth of Pennsylvania. ▪ Open-ended investment companies with variable capital that are qualified as UCITS (Undertakings for Collective Investment in Transferable Securities) (“UCITS Funds”). The UCITS Funds are established as sub-funds of Skyline Umbrella Fund ICAV, an umbrella-type Irish collective asset management vehicle with segregated liability between its sub-funds. The UCITS Funds are governed by the laws of Ireland and are open to non-U.S. investors. Detailed terms applicable to investors in the UCITS Funds are described in the Skyline Umbrella Fund ICAV Prospectus and the applicable UCITS Fund Supplement. ▪ Internal, single investor funds (“Proprietary Funds”), generally 100% funded by the assets of our Chief Investment Officer, A. Rama Krishna and affiliated trusts, or the assets of our Nonexecutive Chairman, Peter Carman. Interests in our Proprietary Funds are not offered to outside investors and there is no private placement or offering memorandum available for these funds. We expect to manage additional such funds in the future. Our Proprietary Funds are managed along with other accounts, and trade orders for our Proprietary Funds may be aggregated with trade orders for other accounts for purposes of trade execution. We have therefore implemented strict fairness policies with respect to trading practices and allocation procedures to avoid any incentive to favor any one account over another, consistent with our fiduciary obligation to allocate investment opportunities fairly. The Commingled Funds, Mutual Funds, CIT Funds, UCITS Funds and Proprietary Funds are sometimes collectively referred to in this brochure as “the ARGA Funds.” We also offer discretionary management services to a number of separate managed accounts comprising pension plans, state or municipal government entities, foreign registered investment companies, family offices, corporate entities and other investment advisers and sub-advisory services to three investment companies registered under the Investment Company Act of 1940 (collectively “Separate Accounts”). The three sub-advisory investment companies include: ▪ The Vanguard International Value Fund. ARGA manages a portion of the fund; ▪ The PACE® Select Advisors Trust with respect to the PACE® International Emerging Markets Equity Investments portfolio. ARGA manages a portion of the portfolio; and ▪ The PACE® Select Advisors Trust with respect to the PACE® Small/Medium Co Value Equity Investments portfolio. ARGA manages a portion of the portfolio. All accounts to which we provide investment advisory services, including the ARGA Funds, are sometimes collectively referred to in this brochure as “the Accounts or Clients.” Our investment objective is to generate long-term returns by investing primarily in equity and equity-linked securities of issuers that are trading at a discount to their perceived intrinsic value. We offer investment advisory services on equity and equity-linked securities, including exchange-listed securities, over-the-counter traded securities, foreign securities and participatory notes. Our investment advisory services are limited to these types of investments. Some of the strategies we offer include: 1. Global Equity Strategy This strategy invests primarily in equity and equity-linked securities of companies located in any part of the world, including the United States, that are trading at a discount to their perceived intrinsic value. These securities may be traded on exchanges or recognized markets or over the counter, in both developed and emerging markets. 2. International Equity Strategy This strategy invests primarily in equity and equity-linked securities of companies located in any part of the world that are trading at a discount to their perceived intrinsic value and are either (i) domiciled outside the United States, or (ii) domiciled in the United States, but a significant portion of their revenues, earnings, assets, costs or employees are outside the United States. These securities may be traded on exchanges or recognized markets or over the counter, in both developed and emerging markets. 3. Emerging Markets Equity Strategy This strategy invests primarily in equity and equity-linked securities of companies that are trading at a discount to their perceived intrinsic value and that are either (i) located in emerging markets, or (ii) located in developed markets but a significant portion of their revenues, earnings, assets, costs or employees are from or in emerging markets. These securities may be

traded on exchanges or recognized markets or over the counter, in both developed and emerging markets. 4. Global Sector-Neutral Strategy This strategy invests primarily in a sector-neutral portfolio of equity and equity-linked securities of companies located in any part of the world, including the United States, that are trading at a discount to their perceived intrinsic value. These securities may be traded on exchanges or recognized markets or over the counter, in both developed and emerging markets. 5. International Sector-Neutral Strategy This strategy invests primarily in a sector-neutral portfolio of equity and equity-linked securities of companies located in any part of the world that are trading at a discount to their perceived intrinsic value and are either (i) domiciled outside the United States, or (ii) domiciled in the United States, but a significant portion of their revenues, earnings, assets, costs or employees are outside the United States. These securities may be traded on exchanges or recognized markets or over the counter, in both developed and emerging markets. 6. Global Concentrated Equity Strategy This strategy invests primarily in a highly concentrated portfolio of equity and equity-linked securities of companies located in any part of the world, including the United States, that are trading at a discount to their perceived intrinsic value. These securities may be traded on exchanges or recognized markets or over the counter, in both developed and emerging markets. 7. International Small-Cap Equity Strategy This strategy invests primarily in equity and equity-linked securities of smaller capitalization companies located in developed markets around the world that are trading at a discount to their perceived intrinsic value and are either (i) domiciled outside the United States, or (ii) domiciled in the United States, but a significant portion of their revenues, earnings, assets, costs or employees are outside the United States. These securities may be traded on exchanges or recognized markets or over the counter in developed markets. 8. EAFE Equity Strategy This strategy invests primarily in equity and equity-linked securities of companies located in developed market countries around the world that are trading at a discount to their perceived intrinsic value and are either (i) domiciled outside the United States and Canada, or (ii) domiciled in the United States and Canada, but a significant portion of their revenues, earnings, assets, or employees are outside the United States and Canada. These securities may be traded on exchanges or recognized markets or over the counter in developed markets. 9. European Equity Strategy This strategy invests primarily in equity and equity-linked securities of companies that are trading at a discount to their perceived intrinsic value and (i) are in European developed or emerging markets or (ii) have significant exposure to Europe. These securities may be traded on exchanges or recognized markets or over the counter, in both developed and emerging markets. 10. Global Small Cap Equity Strategy This strategy invests primarily in equity and equity-linked securities of smaller capitalization companies located in developed markets, including the United States, that are trading at a discount to their perceived intrinsic value. These securities may be traded on exchanges or recognized markets or over the counter in developed markets. 11. US Small Cap Equity Strategy This strategy invests primarily in equity and equity-linked securities of smaller capitalization companies that are trading at a discount to their perceived intrinsic value and are either (i) located in the United States or (ii) have a significant portion of revenues, assets, earnings or employees in the United States. These securities may be traded on exchanges or recognized markets or over the counter. 12. US Equity Strategy (previously US Large Cap Equity Strategy) This strategy invests primarily in equity and equity-linked securities of (i) companies listed on US stock exchanges or (ii) companies not listed on US stock exchanges but a significant portion of their revenues, earnings, assets or employees are from or in the US, that are trading at a discount to their perceived intrinsic value. These securities may be traded on exchanges or recognized markets, in both developed and emerging markets. 13. China A Onshore Equity Strategy This strategy invests in A shares of Chinese companies listed on the Shanghai and Shenzhen stock exchanges that are trading at a discount to their perceived intrinsic value. 14. Asia Ex Japan Equity Strategy This strategy invests primarily in equity and equity-linked securities of companies that are trading at a discount to their perceived intrinsic value and are either (i) located in Asia (excluding Japan) or (ii) located outside Asia but a significant portion of their revenues, earnings, assets or employees are from or in Asia (excluding Japan). These securities may be traded on exchanges or recognized markets or over the counter, in both developed and emerging markets. 15. Emerging Markets Ex China Equity Strategy This strategy invests primarily in equity and equity-linked securities of companies that are trading at a discount to their perceived intrinsic value and are either (i) located in emerging markets (excluding China) or (ii) located outside emerging markets but a significant portion of their revenues, earnings, assets or employees are from or in emerging markets (excluding China). These securities may be traded on exchanges or recognized markets or over the counter. 16. Emerging Markets Select Equity Strategy This strategy invests primarily in equity and equity-linked securities of large capitalization companies that are trading at a discount to their perceived intrinsic value and that are either (i) located in emerging markets, or (ii) located outside emerging markets but a significant portion of their revenues, earnings, assets, or employees are from or in emerging markets. These securities may be traded on exchanges or recognized markets or over the counter, in both developed and emerging markets. 17. US SMID Cap Equity Strategy This strategy invests primarily in equity and equity-linked securities of smaller and mid- capitalization companies that are trading at a discount to their perceived intrinsic value and are either (i) located in the United States or (ii) have a significant portion of revenues, assets, earnings or employees in the United States. These securities may be traded on exchanges or recognized markets or over the counter. Investment Restrictions Our investment strategies are described in greater detail in the offering documents of the relevant ARGA Fund, where available. In general, we do not tailor a strategy to the needs of individual fund investors or Separate Account clients. However, in certain circumstances, for Separate Accounts we may agree on reasonable client-imposed guidelines and restrictions. These guidelines and restrictions are reviewed prior to investing a portfolio to ensure there are no issues with managing the portfolio according to our investment strategy. Assets under Management As of December 31, 2023 we managed approximately $13,569,828,746 of client assets on a discretionary basis.