CBRE Investment Management Listed Real Assets LLC (“CBREIM Listed Real Assets” or “we” or the “Firm”) is the listed real asset solution within CBRE Investment Management (“CBREIM”), a global investment manager of real asset solutions, including capabilities in global private equity real estate, private infrastructure, and listed real estate and listed infrastructure. CBREIM Listed Real Assets specializes in managing portfolios of real asset securities, including listed real estate, listed infrastructure, and midstream energy for institutional clients. Real estate securities include securities issued by Real Estate Investment Trusts (“REITs”), Real Estate Operating Companies (“REOCs”), and other companies with significant real estate activities. We define real estate activities to include owning, operating, leasing, developing, managing, brokering and/or selling commercial or residential real estate, land, or certain forms of infrastructure. We define an infrastructure company to have significant activities in owning, developing, managing, or operating infrastructure assets. Infrastructure assets include transportation assets, utility assets, energy assets, and communication assets. Midstream energy includes companies that engage in the extraction, transportation, processing, and storage of fossil fuels and certain fossil fuel byproducts. Master limited partnerships (“MLPs”) are a form of publicly traded partnerships which generate income from midstream infrastructure operations and related activities. We focus on equity securities, primarily common or preferred stock listed on a recognized stock exchange. For particular mandates, we may invest in fixed income securities, MLPs (or other publicly traded partnerships), or equity-related securities. We generally manage client portfolios on a fully discretionary basis for a variety of investment objectives across several types of investment mandates. We primarily manage client accounts in a particular asset type (i.e., real estate, infrastructure, or real asset blend) and according to a primary investment objective, such as Total Return or Income-Oriented. Further, our investment mandates are generally defined by geography, such as global, regional, or country-specific. The combination of investment objectives and investment mandates results in one or more investment models used to manage client accounts. Client accounts with similar investment objectives and similar investment mandates are managed in accordance with a similar model. A client can impose unique investment restrictions and guidelines which will be honored in managing the account. More information about our investment process, discretion, and how we service clients is contained throughout this brochure. As of 31 December 2023, CBREIM Listed Real Assets managed approximately US$9.47 billion in discretionary client assets for approximately 50 client accounts. HISTORY & OWNERSHIP CBRE Group, Inc. (“CBRE”) is our ultimate parent company with more than 100,000 employees and serving clients in more than 100 countries. CBRE is a publicly traded company with shares listed on the New York Stock Exchange (ticker symbol CBRE), and has been an S&P 500 company since 2008 and in 2023 was ranked #135 on the Fortune 500. Investment management services are conducted through the CBREIM business line, with assets under management of approximately $147.5 billion, 1100+ team members, and over 30 offices worldwide. CBREIM’s offerings are organized into five primary investment solutions: (1) direct private real estate; (2) indirect private real estate; (3) private infrastructure; (4) listed real assets; and (5) real estate credit. Listed real asset solutions are delivered through CBREIM Listed Real Assets, a majority-owned subsidiary (a group of our executives acquired a minority but material ownership interest in the Firm). CBREIM, through predecessor companies, has a history back to 1972 and nearly 50 years of investing experience. CBREIM Listed Real Assets traces our history back to 1992 with the founding of Campbell-Radnor Advisors. ING Real Estate Investment Management was founded in 1996 and acquired Campbell-Radnor Advisors in 1998 under the new name: ING Clarion Real Estate Securities. CBRE

acquired ING Real Estate 22 March 2024 | FORM ADV PART 2A | 5 Investment Management’s European and Asian platforms, as well as ING Clarion Real Estate Securities, in 2011, with the entities being renamed CBRE Global Investors and CBRE Clarion Securities, respectively. In 2021, all investment management businesses of CBRE adopted a single brand: CBRE Investment Management. Consequently, CBRE Clarion Securities was renamed CBRE Investment Management Listed Real Assets. While our name and ownership structure have changed over time, the business leadership, firm values, corporate culture, and the investment philosophy and process have remained consistent. ORGANIZATION AND MANAGEMENT CBREIM Listed Real Assets is headquartered in Radnor (near Philadelphia), Pennsylvania, USA and has personnel in London, England; Paris, France; Tokyo, Japan; Hong Kong; and Sydney, Australia. As of the date of the brochure, CBREIM Listed Real Assets has approximately 65 employees globally. CBREIM Listed Real Assets is organized into three primary functional teams:  Investment Team consisting of Portfolio Managers, Quantitative Investment Research, Investment Analysts, Portfolio Analysts, and Traders  Business Development Team consisting of Client Service, Sales, and Marketing personnel  Operations Team consisting of Securities Operations, Business Technology Solutions, Compliance, and Administrative Support The strategic vision of CBREIM Listed Real Assets is vested in its Board, which consists of three executives within the CBRE organization: the CIO and President of CBREIM Listed Real Assets, the President of CBREIM, and the CIO of CBREIM. CBREIM Listed Real Assets is governed by a Management Committee, which is responsible for the day-to-day management of the Firm and maintains operating control. Product specific issues such as asset/client capacity, client service responsibilities, and business strategy are determined by the CBREIM Listed Real Assets Management Committee. The management committee meets on a quarterly basis. The Management Committee consists of the following executives, all of whom are owners of the Firm: Management Committee Member Role Joseph P. Smith President, Chief Investment Officer – Listed Real Assets Jeremy M. Anagnos Chief Investment Officer – Global Infrastructure Christopher S. Reich Portfolio Manager and Head of Quantitative Research David J. Makowicz Head of Investor Services Operations Jonathan A. Blome Chief Operating Officer and Chief Financial Officer In addition to the Management Committee, another key executive officer is Mr. Jeff Chang, Chief Compliance Officer and Chief Risk Officer. 22 March 2024 | Form ADV Part 2A | 6 INVESTMENT MANAGEMENT AGREEMENTS CBREIM Listed Real Assets manages each client account pursuant to a written investment management agreement. Clients may be asked to execute a standard form of agreement used by CBREIM Listed Real Assets, or clients may negotiate their own form of agreement with CBREIM Listed Real Assets. Although the terms of each client agreement might vary, investment management agreements can generally be terminated by either party upon 30 days prior written notice. If applicable, any pre-paid fees will be refunded. An investment management agreement will not be assigned by CBREIM Listed Real Assets without the client’s consent. OTHER FORMS OF ADVISORY SERVICES Non-discretionary investment advisory services are provided on a limited basis. In particular, CBREIM Listed Real Assets provides non-discretionary services to: certain unaffiliated institutional clients and fund sponsors, for use in managing real estate securities funds; an unaffiliated institutional client, for use in its unified managed account program. CBREIM Listed Real Assets earns a fee based on percentage of assets in the programs invested in funds or accounts managed based on CBREIM Listed Real Assets’ advice. Persons investing through these funds or the UMA and SMA platforms are not clients of CBREIM Listed Real Assets. Non-discretionary investment advisory services are not a primary service offering. As of 31 December 2023, CBREIM Listed Real Assets managed approximately US$317 million in non- discretionary client assets for 7 client accounts.