Introduction Established in 1984, Nikko Asset Management Europe Ltd (Nikko AME) is the London based subsidiary of the Nikko Asset Management Group (Nikko AM Group), which is headquartered in Tokyo. Nikko AME’s principal place of business is in the UK where it is authorized and regulated by the Financial Conduct Authority (“FCA”) to provide investment advisory and asset management services. Further information about Nikko AME can be found at https://register.fca.org.uk/s/, using the reference number 122084. Corporate History The history of the group parent, Nikko Asset Management Co., Ltd. (“Nikko AM”) dates back to 1959, when its predecessor Nikko Securities Investment Trust Co., Ltd. was established. It subsequently merged with Nikko International Capital Management Co., Ltd. (established 1981), in 1999 to form Nikko AM. As one of Japan’s largest asset management companies, Nikko AM has significantly expanded its operations both in Asia and internationally, in pursuit of its primary business objective: to become the world’s leading pan-Asian asset management group. It is the Nikko AM Group’s core belief that there are great opportunities for specialist investment managers in the fast growing Asian markets and what clients and distributors really want is a strong, dedicated Asian based investment firm, like Nikko AM, which can grasp the often nuanced and local characteristics of markets and global investor requirements. By utilizing its deep knowledge of the local markets in Asia and leveraging the group’s global presence and resources, Nikko AM aims to maximize the value it delivers to its clients regardless of their geographic location. The acquisitions of DBS Asset Management Ltd and Tyndall Investment Management Limited during 2011, and Treasury Asia Asset Management Limited in 2013 have enabled the Nikko AM group to significantly strengthen its presence across Asia. Nikko AM also extended its capabilities in Europe with the addition of an Edinburgh-based investment team, which previously managed the high-alpha equity strategy at Scottish Widows Investment Partnership in August 2014. The team now managed Nikko AM’s Global Equity strategy As a result, the group is able to offer global investment and distribution capabilities in Tokyo, Singapore, Hong Kong, Sydney, Auckland, Melbourne, London, Edinburgh and New York. Nikko AM also owns 40% of Rongtong Fund Management in China, as well as 20% of AHAM Asset Management Berhad in Malaysia. These acquisitions have significantly contributed to the diversity of group’s assets under management and client base, as well as investment professionals offering on the ground support, that complements client services and marketing/sales activities. Form ADV Part 2A Ownership As at March 31, 2018, Nikko AME was a wholly owned subsidiary of Nikko AM which as at 15 January 2021 has become a wholly owned subsidiary of Sumitomo Mitsui Trust Holdings, Inc. Assets Under Management As at 31 March 2023, preliminary consolidated assets under management and advice of the Nikko AM Group were approximately USD 2 09 .4 billion. Of

this, Nikko AME was responsible for approximately USD 15,825 billion, which can be broken down as follows: Type of Asset AUM (in USD) Discretionary Assets 15,103,679,119 Non-Discretionary Assets 721,350,989 TOTAL 15,825,030,109 Exchange rates at March 31 2023 GBP/USD 1.24 YEN/USD 133.09 AUD/USD 0.67 NZD/USD 0.63 SGD/USD 0.75 CAD/USD 0.74 KWD/USD 3.26 EUR/USD 1.09 Form ADV Part 2A Advisory Services In responding to the diverse needs of investors, the Nikko AM group offers both active and passive investment capabilities across equity, fixed income and alternative asset classes, with key strengths in multiple pan-Asian asset strategies. The Nikko AM group’s hybrid culture, experience and Asia-focused perspective offers crucial insights into understanding the nuances of opportunities and challenges within Asian markets. This informs investment decisions in a way that is extremely hard for non-local firms to emulate. Moreover, as a group, we have shown a deep commitment to the region, establishing a strong bench of investment expertise within these specialized markets. Our experience of investing and advising clients on Asian securities, broken down by region, is as follows: ➢ Japanese Equities – since 1959 ➢ Asia Pacific ex Japan – since 1990 ➢ Emerging Asia – since 1994 ➢ China - since 2005 ➢ Global Equities – since 2014 ➢ Multi Assets – since 2014 Nikko AM believes the best way of managing regional portfolios is to rely on the expertise of local professionals, based in the appropriate investment region. Portfolio managers and research analysts are highly experienced professionals, with in-depth knowledge of their own markets, as well as cultural and political aspects impacting them. The skills and expertise of each team is combined and brought together to offer specialist regional asset management services. As a result mandates may be sub-delegated to specialist investment teams at Nikko AM group affiliates in Tokyo, Singapore, Hong Kong, Auckland, London, Edinburgh and New York. Additionally, the group also provides sub-advisory services via Nikko AM’s World Series Fund Platform®. This is offered primarily to Asian investors, as a means of accessing products managed by leading asset managers, world-wide. Services are primarily provided to individual and institutional investors (clients), through investment companies or other pooled investment vehicles, including mutual funds, closed- end investment companies, Japanese Investment Trusts, unit investment trusts, private companies, hedge funds or offshore funds (“pooled investment vehicles”) and separate (segregated) accounts. Nikko AME manages portfolios in accordance with the specified guidelines and objectives of each individual client. In this regard, clients may impose restrictions on investing in certain securities or types of securities. Services may also be limited by legal and regulatory requirements. Such restrictions will be clearly specified in investment management agreements, following consultations with clients and will consider the impact of the proposed restriction of the investment strategy, relevant laws, and regulatory requirements.