Background Polen Capital Credit, LLC (“Polen Credit”, f/k/a DDJ Capital Management, LLC), which has operated continuously since its inception in 1996, provides investment advice directly to various institutional clients, including corporate pension plans (both domestic and non-U.S.), public retirement plans, and Taft-Hartley plans. Polen Credit also acts as investment sub-adviser to certain U.S. and non-U.S. investment advisers and asset managers; in such capacity, Polen Credit serves as an investment sub- adviser on behalf of certain U.S. open-end investment companies (mutual funds) registered with the SEC pursuant to the Investment Company Act of 1940, as amended (the “1940 Act”). In addition, Polen Credit also serves as sole investment adviser to the certain mutual funds registered with the SEC pursuant to the 1940 Act, as well as investment adviser to certain pooled private investment vehicles. Since 1997, the firm, which is organized as a Massachusetts limited liability company, has been registered as an investment adviser with the SEC. On January 31, 2022, Polen Capital Management, LLC (“Polen Capital”), another investment adviser registered with the SEC, acquired 100% of the outstanding equity units of Polen Credit. Accordingly, as of such date, Polen Credit became a wholly-owned subsidiary of Polen Capital. Furthermore, upon the consummation of such transaction, Stanley Moss, the chief executive officer of Polen Capital, became the Chief Executive Officer of Polen Credit. David Breazzano, a co-founder of Polen Credit and its former President, continues to oversee the firm’s investment team in his role as Head of Team and Portfolio Manager. Shortly following such transaction, Polen Credit changed its name from DDJ Capital Management. By virtue of owning 100% of the outstanding equity units of Polen Credit, Polen Capital controls Polen Credit. Polen Capital, which is employee controlled, has established a management committee. This management committee is controlled by Mr. Moss and Daniel Davidowitz, a portfolio manager and analyst at Polen Capital. By virtue of their control over the management committee of Polen Capital, the parent company of Polen Credit, Messrs. Moss and Davidowitz may be deemed controlling persons of Polen Credit. Advisory Services Offered by Polen Credit Polen Credit offers investment advisory services that specialize in identifying investment opportunities among high yield and financially stressed companies operating primarily in the United States. Polen Credit’s distinctive investment style generally focuses on the lower tier of the non- investment grade credit markets, particularly high yield bonds and bank loans as well as, to a much lesser extent, distressed debt and reorganized and leveraged equities. In providing such advisory services, irrespective of the specific investment strategy implemented on behalf of a client, Polen Credit adheres to a value-oriented, “bottom-up”, fundamental investment approach with an emphasis on downside protection. As part of this fundamental

analysis, Polen Credit attempts to create a comprehensive overview of the company targeted for investment by examining both its current and future business prospects. More detailed information regarding Polen Credit’s advisory services, its method of analysis, and the significant investment strategies that Polen Credit pursues on behalf of its clients is set forth in Item 8 of this Brochure. Although Polen Credit pursues highly focused investment strategies, Polen Credit nonetheless customizes its advisory services to the individual needs and requirements of its institutional clients, which typically choose to establish separately managed accounts with Polen Credit. Such clients may, and frequently do, impose restrictions on investing in certain securities or types of securities, as further set forth in the applicable written advisory agreement(s) entered into with Polen Credit. In 2016, Polen Credit initially became a signatory to the United Nations-supported Principles for Responsible Investment (“UNPRI”). In 2022, following the acquisition of Polen Credit by Polen Capital, Polen Credit and Polen Capital elected to combine as a single UNPRI signatory (under the Polen Capital name). The UNPRI initiative is based on six principles that address the integration of environmental, social and governance (“ESG”) factors into investment decision-making practices. As part of this commitment to the UNPRI, Polen Credit has agreed to integrate ESG factors, where appropriate and consistent with its fiduciary duty to its respective clients, into its investment research and portfolio construction process, and annually report such ESG efforts to the UNPRI on a comprehensive basis. However, Polen Credit does not systematically apply specific ESG and/or other socially responsible exclusionary restrictions (e.g., an investment restriction with respect to securities issued by companies developing cluster munitions) in its client portfolios unless specifically directed to do so by a client. Polen Credit does not participate in wrap fee programs. Assets Under Management As of February 28, 2023, Polen Credit managed approximately $7.0 billion of assets held in either separately managed accounts or pooled investment vehicles (including private investment funds as well as proprietary U.S. mutual funds). All such assets are managed by Polen Credit on a discretionary basis, although certain funds and accounts are in their wind-down or termination stage and accordingly Polen Credit is no longer making any new investments on their behalf. In addition to the foregoing, Polen Credit has entered into an investment advisory agreement with a family office client whereby Polen Credit has agreed on its behalf to execute client-directed trades in the high yield bond primary market. As Polen Credit does not provide any continuous and regular supervisory or management services with respect to such non-discretionary account, Polen Credit does not manage any specific amount of assets with respect to such client.