History & Ownership Keeley-Teton Advisors, LLC (“Keeley-Teton”), a Delaware limited liability company, is an SEC-registered investment adviser and wholly owned subsidiary of Teton Advisors, Inc. (“Teton Inc.”). Teton Inc’s’ Class A Common Stock trades on the OTCQX under the symbol TETAA. Mario J. Gabelli is deemed the controlling person of Teton Inc. based on his ownership of stock he owns individually and through his control of GGCP, Inc., a privately held Wyoming corporation. Keeley-Teton was formed in 2016 to facilitate Teton Inc.’s February 28, 2017, acquisition of the investment advisory business of Keeley Asset Management Corp. (“KAMCO”), an SEC-registered investment adviser based in Chicago, IL that had been in business since 1982. Keeley-Teton provides discretionary investment advisory services to a broad spectrum of clients, including the KEELEY Funds, Inc. (the “KEELEY Funds”), an affiliated registered investment company. In addition to the KEELEY Funds, Keeley-Teton’s clients include high net worth individuals, banking institutions, pension and profit-sharing plans, charitable organizations, and municipal government entities. As of December 31, 2023, Keeley-Teton managed $889 million in assets on a discretionary basis. Advisory Services Keeley-Teton manages client assets in accordance with written investment agreements that contain the client’s investment objectives, policies and restrictions, among other things. Keeley-Teton generally has investment discretion and makes all investment decisions for client accounts without consultation

with the client, including decisions to buy, sell, exchange, convert or otherwise trade in securities and other financial instruments. Mutual Funds Keeley-Teton serves as investment adviser to the KEELEY Funds as well as the TETON Westwood SmallCap Equity Fund (the “SmallCap Fund”). The KEELEY Funds consist of three series, in the following strategies: Small Cap Dividend Value; Small-Mid Cap Value, and Mid Cap Dividend Value. As these vehicles are registered under the Investment Company Act of 1940 (the “Investment Company Act”), all prospective investors should read the Prospectus carefully prior to investing in order to obtain a full understanding of each specific strategy and its risks. Separate Accounts Keeley-Teton serves as investment adviser to separately managed client accounts. These accounts are managed pursuant to the following strategies: Small Cap Dividend Value; Small-Mid Cap Value; Mid Cap Dividend Value; and Small Cap Opportunities. In addition, Keeley-Teton’s Private Client Wealth Management team manages separate accounts according to strategies tailored to the particular high net worth and family office clients. WRAP Fee Programs Keeley-Teton manages assets for several wrap fee programs, either under contract with the sponsoring broker- dealer or under contracts with individual clients referred by the sponsoring broker-dealer. Keeley-Teton manages such assets primarily based on construction of model portfolios in three strategies: Small Cap Dividend Value; Small-Mid Cap Value; and Mid-Cap Dividend Value.