MissionSquare Investments has been an SEC registered investment adviser since 1999 and offers investment advisory services to various clients, including its affiliate, VantageTrust Company, LLC (“VTC”), a New Hampshire non-depository trust company. VTC is the sole trustee of VantageTrust (“VT”), VantageTrust II (“VT II”), and VantageTrust III (“VT III”) (collectively, the “VT Trusts”), trusts established and maintained for the purpose of the collective investment and reinvestment of assets of certain tax-exempt, deferred compensation and qualified retirement plans, retiree welfare plans, related trusts and certain other eligible investors. Our firm is a wholly-owned subsidiary of The International City Management Association Retirement Corporation doing business as MissionSquare Retirement. MissionSquare Retirement is a Delaware non-stock, non-profit corporation established in 1972 that assists state and local governments and their agencies and instrumentalities and certain non-profit entities (“Plan Sponsors”) in the establishment and maintenance of deferred compensation and qualified retirement plans (“Retirement Plans” or “Plans”) for their employees (“Participants”, when enrolled in a Retirement Plan). MissionSquare Retirement offers a full range of Retirement Plan administration services to Plan Sponsors, including administration, recordkeeping, and education services. We provide discretionary and non-discretionary investment advisory and management services to VTC with respect to certain investment options made available within the VT Trusts (each a “Fund” and collectively, the “Funds”). We provide discretionary investment advisory and management services to VTC with respect to the following Funds: MissionSquare PLUS Fund – a group of funds within the VT Trusts. The MissionSquare PLUS Fund Class R (which is made available through VT) and the MissionSquare PLUS Fund Class S (which is made available through VT II) each invest their assets in the MissionSquare PLUS Fund Class M (which is made available through VT III) (collectively, the “MissionSquare PLUS Fund” or “PLUS Fund”), which is a stable value fund consisting of a diversified portfolio of stable value investment contracts (i.e., Traditional Guaranteed Investment Contracts (“GICs”), Separate Account GICs, and Synthetic GICs), fixed income securities, collective investment trust funds (including the MissionSquare Special Purpose Funds), short-term investment funds and/or mutual funds, including money market funds. We advise VTC regarding the investment and reinvestment of the PLUS Fund Class M assets and also conduct the day-to-day management of that Fund. As part of our management duties, we select the stable value investment contracts in which the Fund invests. We also select and monitor the fixed income managers that have and exercise investment discretion with respect to the securities backing the Synthetic GIC and certain Separate Account GIC portfolios. In instances where the Synthetic GIC or Separate Account GIC provider restricts the selection to their affiliated fixed income manager(s), we will select that Synthetic GIC or Separate Account GIC provider and its affiliated fixed income

manager but only after satisfying our investment manager due diligence process. MissionSquare Funds – a group of funds within the VT Trusts. As used in this brochure, “MissionSquare Funds” refers to the MissionSquare Funds Class M (which are made available through VT III) that we manage, and those MissionSquare Funds Class R (which are made available through VT) and MissionSquare Funds Class S (which are made available through VT II) that invest their assets in a MissionSquare Fund Class M that has a corresponding name, investment objective, and strategy. As part of our investment advisory and management services, we select and monitor third-party investment managers that exercise investment discretion with respect to the portfolio securities of certain MissionSquare Funds Class M. We also select and monitor the investments of certain MissionSquare Funds Class M. MissionSquare Model Portfolio Funds Class M and MissionSquare Retirement Target Funds Class M invest in other MissionSquare Funds Class M and may also invest in exchange-traded funds or other third-party funds. MissionSquare II Model Portfolio Funds – a group of target risk funds made available to Other Post-Employment Benefits (OPEB) Trusts through VT II. As part of our investment advisory and management services, we select and monitor the investments of these Funds, which typically include MissionSquare Funds Class M and third-party exchange-traded funds. MissionSquare Special Purpose Funds – a group of funds made available through VT II that are primarily used to gain exposure to fixed income securities within stable value investment strategies. As part of our investment advisory and management services, we either exercise investment discretion in the purchase and sale of the fixed income securities within the Special Purpose Funds, or select and monitor third- party investment managers who exercise such investment discretion. We tailor our advisory services to the needs of VTC and manage the Funds in accordance with investment policies and guidelines approved by VTC. We are responsible for recommending changes to the Funds and their investment policies and guidelines as deemed warranted. VTC, as trustee of the VT Trusts, has ultimate authority over the Funds and can impose alternate investment guidelines, including restrictions on investing in certain securities or types of securities. Please see Item 8 for additional information. We also provide non-discretionary investment advisory support to VTC with respect to the following Funds made available through the VT Trusts: MSQ Trust Series Funds – a group of funds within VT, each of which invests its assets in a third-party mutual fund not affiliated with us. We monitor the performance and characteristics of the underlying third-party mutual funds and their managers, provide analyses and reports on their performance to VTC, and, where appropriate, recommend to VTC the addition or removal of third-party mutual funds from the MSQ Trust Series Funds. As of December 31, 2023, we managed $49,409,331,766 for VTC on a discretionary basis. As of December 31, 2023, we provided non-discretionary investment advisory support to VTC with respect to $5,712,171,333 in assets.