At Record, our principal focus is on currency management and developing a deep understanding of the risk and reward opportunities in currency markets. All currency management activities are carried out from our head office in Windsor and office in London, UK. Record Currency Management Limited (Record), Record Currency Management (US) Inc. (Record Inc.), Record Currency Management (Switzerland) GmbH (Record Switzerland) and Record Asset Management GmbH are 100% owned by their parent holding company Record plc. Record plc is listed on the Main Market of the London Stock Exchange since our IPO in 2007. Record was founded in 1983 by Neil Record and is a regulated provider of currency management services. Directors and staff have a majority interest in the firm. Our corporate and regulatory structure is shown on the following diagram and tables: Record plc’s ownership structure as at March 31, 2023 is as follows: Shareholder group % shares owned Record plc directors 37% Other Record Group employees 6% Other investors 57% recordfg.com Advisory Services Record provides investment advisory and implementation services to its clients of appropriate categorization. The specific services provided by Record to a particular client depends upon the investment objectives and restrictions, investment instrument limitations and guidelines agreed with the client, as set forth in the documents governing Record’s agreement with the client. Record provides advisory services and implementation through separately managed accounts, and through funds under the laws of a number of jurisdictions. Record operates various types of currency mandates for clients: (a) Passive currency hedging Passive hedging removes a fixed proportion of currency risk, both upside and downside. Record’s Passive Hedging programs are designed to minimize transaction costs and to make the resultant cash flows easier to manage. We offer additional services to target opportunistic value through active tenor management. Record also offers certain individual component parts of its passive hedging offering on their own or in combination to achieve the Client’s specific objectives as set out in the Investment Management Agreement. Record currently offers its Passive Hedging as a segregated mandate. (b) Dynamic currency hedging Dynamic hedging varies the size of the hedge through time depending on the price path of the exchange rate, aiming to participate in the upside (i.e. base currency appreciation) and protect against the downside (i.e. base currency depreciation), in accordance with the investment strategy of the mandate. Record currently offers its Dynamic Hedging as a segregated mandate. (c) Signal currency hedging Signal hedging varies the size of the hedge through time, taking into account exchange rate movements, currency over- and under- valuations, and relative interest rates to determine the size of the hedge. Signal hedging aims to participate in the upside and protect against the downside. Record currently offers its Signal Hedging strategy as a segregated mandate. (d) Currency for return Record currently has a suite of seven currency for return strategies being Carry, Value, Momentum, Range-Trading, Emerging Markets, Developed Market Classification and Emerging Market Classification. Record’s investment philosophy is underpinned by a belief in the transparent exploitation of well- understood, persistent risk premia and inefficiencies observed in the FX market. Carry is the empirical observation that high interest rate currencies tend to outperform lower interest rate currencies over the medium-term. Value is the observation that over the long-term currencies will revert to fair value, such that undervalued currencies will appreciate and vice versa. Momentum is the observation that currencies tend to trend, appreciating after a prior appreciation and vice versa. recordfg.com Range-Trading is the

observation that currency volatility tends to be elevated in the short-term relative to the medium-term. Holding Emerging Market currencies seeks to benefit from real exchange rate appreciation as a result of the economic convergence of emerging markets to developed markets, as well as offering higher positive real yields. Developed Market Classification uses a quantitative machine learning model to systematically allocate to various currency factor groups based on their perceived ability to explain outturn G10 vs. USD currency moves. Emerging Market Classification uses a quantitative machine learning model to systematically allocate to various currency factor groups according to their perceived ability to explain outturn EM vs USD currency moves. Additionally, Record is able to offer combinations of these strategies under a Multi-Strategy approach that seeks to target a diversified source of return from the currency markets through a combination of market inefficiencies and risk premia. By combining multiple return drivers, returns are targeted from a variety of market conditions, reducing the correlation of a currency program to other asset classes. (e) Ancillary services (i) Cash Management – Clients with one of the above services (a-d) or on a standalone basis can have cash management services and/or equitization services relating to a quantum of cash set aside to support the currency program or to enable them to achieve specific objectives. (ii) Currency Execution – Record offers unconflicted fiduciary currency execution services in currency spot and forward transactions. (iii) Currency Audit – we examine and analyze foreign exchange deals done for a Client by its third-party providers and compare that performance against our in-house and / or third-party databases of historical currency rates to see whether excess costs have been incurred, and give advice on how to avoid them in the future. (iv) Collateral Management – where employed to perform collateral management services for our Clients, we manage and monitor daily FX margin requirements and collateral, either due to a regulatory requirement or the Client’s choice of collateralized bank lines. Our offering includes a full spectrum of services, including margin determination, processing and movement as well as helping in any operational interaction with counterparty banks (e.g. CSA negotiation) and/or an FX prime broker. (v) Provision of signals – for the Client to trade (or have traded) on their own or their clients’ accounts. (vi) Partnerships – Record acts as a referral agent for specific third-party investment management strategies. (vii) ESG – Record offer opt-in ESG services, including an ESG tilt on our EM strand of the multi-strategy product, an ESG counterparty screening execution option, and are about to launch a sustainable finance fund that seeks to incorporate sustainable outcomes into the strategy in line with the UN SDGs. We are looking to extend our ESG integration across our wider product offerings in line with client demand. We have an ESG policy on our website which maps this out in more detail. Our advice is limited to the types of investments stated above. recordfg.com AUME As a currency manager Record manages only the impact of foreign exchange and not the underlying assets, therefore its "assets under management" are notional rather than tangible. To distinguish this from the AUM of conventional asset managers, Record uses the concept of Assets under Management Equivalents (“AUME”) and by convention this is quoted in US dollars. AUME composition by strategy (US Dollars) Sep 30, 2022 March 31, 2023 US $bn % US $bn % Dynamic Hedging 10.0 12.4 14.7 16.7 Passive Hedging 62.1 77.0 63.8 72.7 Currency for Return 4.3 5.3 3.9 4.4 Multi-product 4.2 5.2 5.3 6.0 Cash & Futures 0.1 0.2 0.1 0.1 Total 80.8 100% 87.7 100% recordfg.com