Tweedy, Browne Company LLC (the “Firm”) is registered with the SEC as an investment adviser. It is the successor to Tweedy & Co., which was established in 1920 as a dealer in closely held and inactively traded securities. The Firm has been registered with the SEC as an investment adviser since 1975. The Firm’s 100- year history is grounded in undervalued securities, first as a market maker, then as an investor and investment adviser. (The Firm ceased operations as a broker-dealer effective October 1, 2014.) The Firm is majority owned by Affiliated Managers Group, Inc. (“AMG”) through a wholly-owned subsidiary, AMG TBC, LLC, by its Managing Directors, and by certain other employees. AMG is a New York Stock Exchange listed company that owns interests in a diverse group of investment management firms. The Firm’s Management Committee, which is composed of Thomas H. Shrager, John D. Spears, Robert Q. Wyckoff, and Jay Hill, is responsible for the day-to-day operation and overall supervision of the Firm. AMG does not generally have any active role in the day-to-day management of the Firm. The Firm’s Investment Committee, which is composed of Roger R. de Bree, Andrew Ewert, Frank H. Hawrylak, Jay Hill, Thomas H. Shrager, John D. Spears and Robert Q. Wyckoff, Jr., is the body responsible for making investment decisions for client accounts. (See Part 2B for more information on the Investment Committee.) William H. Browne acts as Senior Advisor to the Investment Committee. The Firm manages accounts on a discretionary basis. As of December 31, 2022, the Firm managed approximately $8,810,000,000 in discretionary client assets. (This figure includes the net assets of all pooled vehicles managed and sponsored by the Firm, as described on pages 5 and 6 herein, as well as all separately managed accounts. As prescribed by SEC rules, the Firm’s Form ADV Part 1 lists the Firm’s regulatory assets under management as of December 31, 2022, which reflect the gross assets of all such vehicles and accounts.) Assets under management are as of the date indicated, subject to fluctuation, and not

necessarily representative of current assets under management. The Firm offers investment advisory services that are concentrated in one strategy -- value investing (see Item 8 below for more information about the Firm’s value investing methodology.) The Firm focuses its investment advice on equity securities of U.S., international, and global issuers, and the Firm's advice is generally limited to those types of investments. The Firm also uses forward currency contracts to hedge perceived foreign currency exposure, where practicable, for clients that invest in foreign securities and request that the Firm do so. The Firm may also provide advice with respect to other investments on a more limited basis. All client accounts managed by the Firm are invested according to a value investment strategy, with a focus (at each client’s direction) on international, global, global high dividend, or U.S. and ADR equity investments. Thus, international client accounts will primarily invest in securities issued by companies that are located outside, or that derive a large portion of their revenues from activities outside, the United States; while global and global high dividend client accounts will primarily invest in securities issued by companies that are located, or derive a large portion of their revenues from activities, both outside and within the United States. U.S. Equity/ADR client accounts will primarily invest in securities of issuers located in the United States and in American depositary receipts, which represent shares of non-U.S. companies that trade in the U.S. financial markets, and may, to a limited extent, invest in other foreign securities. The Firm’s value strategy may be tailored to some extent to meet individual client needs. For example, clients may request that their accounts be restricted from investing in certain securities or types of securities. Clients should be aware that imposing such restrictions could cause their accounts to underperform or perform differently than other client accounts that are managed without such restrictions.