The Advisory Firm Pictet Asset Management (USA) Corp (“Pictet AM US”) provides investment advisory services focusing on Emerging Markets Fixed Income Sovereign and Global Emerging Markets Equity Long / Short strategies.. Pictet AM US also performs business development activities in the USA on behalf of its SEC registered affiliates in the Pictet Asset Management group, principally Pictet Asset Management Ltd and Pictet Asset Management SA: 1) Pictet Asset Management Limited (Pictet AML) is a United Kingdom based Investment Adviser which is regulated by the Financial Conduct Authority (www.fca.org.uk) and registered with the SEC in the USA (www.sec.gov). You may find more information about Pictet AML business in the USA, registration and disclosure information (ADV form part 1 and Part 2) at www.adviserinfo.sec.gov under the firm reference number 105205. 2) Pictet Asset Management SA (Pictet AMSA), is a Swiss based Investment Adviser regulated by the Swiss Financial Market Supervisory Authority (“FINMA”) (www.finma.ch) and registered with the SEC in the USA (www.sec.gov). You may find more information about Pictet AMSA business in the USA, registration and disclosure information (ADV form part 1 and Part 2) at www.adviserinfo.sec.gov under the firm reference number 140074. Pictet AM US markets the investment strategies of its Pictet AM Affiliates to institutional investors such as public and corporate retirement plans, government funds, as well as foundations and endowment funds in the United States. Pictet AM US neither targets nor solicits retail clients. When Pictet AM US acts as a solicitor for its Pictet AM Affiliates registered with the SEC, it markets either their segregated portfolio management capabilities or their foreign funds on a private placement basis. Any institutional client solicited by Pictet AM US that wishes to subscribe to any product offered by the affiliates of Pictet AM will be referred to the relevant Pictet AM entity for any subsequent follow-up. The completion of the client on-boarding, due diligence, contract negotiation, and agreement execution is conducted by the Pictet AM Affiliates with the prospective client, with the assistance of Pictet AM US. When they become clients of the Pictet AM Affiliates (hereafter the “Clients”), the Clients are deemed

to authorize such affiliates to provide Pictet AM US with a technological solution enabling Pictet AM US to have prompt read-only access to the details of the assets managed at Pictet AM Affiliates, for the purpose of the ongoing monitoring of business development opportunities by Pictet AM US. Pictet AM US will also have access to the accounts and documents of the US clients who are clients of SEC registered Pictet AM affiliates to perform client relationship management activities in the US. As the Pictet AM US services offered are limited to the above-mentioned items, many sections of this Investment Adviser Brochure required by the rules and regulations for Investment Advisers do not apply to Pictet AM US. When such situations occur and when relevant, you will be invited to directly consult the equivalent sections of the Pictet AM Affiliates. Investment Adviser brochures for additional information. Pictet AM US is wholly owned by Pictet AML which is wholly owned by Pictet Asset Management Holding SA, ultimately owned by Pictet & Partners SCA, a Swiss holding limited partnership. Type of advisory services offered Pictet AM US provides discretionary investment management services focusing on Emerging Markets Fixed Income Sovereign and Global Emerging Markets Equity Long / Short strategies.. These services include: - assistance in determining appropriate risk and return objectives for each client - defining the appropriate asset mix which is most likely to achieve those objectives - selection or advice of specific markets, currencies and securities from those categories; and - assuming discretionary responsibility for all aspects of day-to-day management and investment of the client’s accounts. Client needs and restrictions Pictet AM US will usually tailor its management to its client’s needs. Our institutional clients usually determine in conjunction with us the investment constraints to be followed in the management of their assets. Further details are provided in item 13 of this brochure. Wrap Fees programs Pictet AM US does not participate in wrap fee programs while providing portfolio management services. Asset under management Pictet AM US managed approximately US$ 253 million of client assets on a discretionary basis as of 31 December 2023.