The Advisory Firm Pictet AM Ltd has been providing both discretionary and advisory investment management services on a global scale to a wide range of international institutional clients since 1980. These clients include retirement plans, assets for corporate and government entities, foundations, and other institutional investors. Furthermore, We also act as the investment adviser or sub-adviser to US-based investment companies and other regulated and unregulated collective investment schemes in international jurisdictions. Pictet AM Ltd is wholly owned by Pictet Asset Management Holding SA which is itself wholly owned by Pictet & Partners SCA, a Swiss holding limited partnership. Pictet AM Ltd fully owns Pictet Asset Management (USA) Corp (“Pictet AM USA”), which is also registered as investment adviser with the SEC and performs business development activities in the USA on behalf of the Pictet AM Group. Simon Greaves replaced David Cawthrow as Chief Compliance Officer of Pictet Asset Management Ltd (“Pictet AM Ltd”) in April 2024. Type of advisory services offered Pictet AM Ltd provides both advisory and discretionary investment management services to institutional clients. 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 account(s). Pictet AM Ltd manages a wide range of equity, fixed income and multi asset strategies including total return. Client needs and restrictions Pictet AM Ltd 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 Ltd also serves as a portfolio manager and advisor for certain clients of one unaffiliated investment advisory group (“the sponsor”) in connection with wrap fee programs. The sponsor’s clients select Pictet AM Ltd to manage equity wrap-fee program accounts, and the sponsor is the client contact for wrap-fee program clients, and works with its clients to develop, and maintain, investment guidelines and to determine the amount to be managed by Pictet AM Ltd. These clients pay a single fee to the sponsor covering the services rendered by both it and the management fees for Pictet AM Ltd. Investment management services provided to wrap fee programmes are substantially the same as those provided to non-wrap fee clients. However, practical constraints to the management of wrap fee accounts may exist. Most notably, the smaller asset value of certain wrap fee accounts may result in slightly different returns due to limitations imposed by investment restrictions, administrative restrictions, and the wrap fees imposed by the sponsor. In addition, Pictet AM Ltd also participates in wrap fee programs where we act purely as the model portfolio provider to the sponsor. Any changes to the model initiated by Pictet AM Ltd are communicated to the Overlay Manager, who is appointed by the sponsor as the discretionary manager, for implementation at their discretion. Pictet AM Ltd receives a portion of the wrap fee charged by the program sponsor for providing the model portfolio but is not directly involved in implementing trades for clients of the sponsor. Asset under management Pictet AM Ltd managed approximately US$ 22.48 billion of client assets on a discretionary basis as at 31 December 2023 and US$ 56.8 million of client assets on a non-discretionary basis.