About Focused Investors LLC Focused Investors LLC (“Focused Investors”) was founded in 2006 and is owned and managed by the firm’s principals, Bruce G. Veaco and Nugroho (Dédé) Soeharto. Focused Investors acts as the general partner and investment advisor to Focused Investors Fund LP (the “Fund”), a pooled investment vehicle organized as a limited partnership. In addition, Focused Investors offers its services as investment advisor to separately managed accounts for corporate and public employee benefit plans; endowments, foundations and trusts; and pooled investment vehicles. Principal Owners (and Ownership %) Bruce G. Veaco (75%) co-founded Focused Investors. Prior to Focused Investors, Bruce spent nearly 20 years as part of the investment team at Pacific Financial Research (“PFR”) serving as a Principal, Portfolio Manager, and Chief Financial Officer. While at PFR, Bruce also was part of the portfolio management team that managed the Clipper and Clipper Focus funds. Bruce's professional experience also includes five years as a Certified Public Accountant in the Los Angeles office of Price Waterhouse where he was an Audit Manager. Bruce graduated summa cum laude from the University of California, Los Angeles with a BA degree in Economics and received his MBA degree from Harvard Business School. Nugroho (Dédé) Soeharto (25%) joined Focused Investors in March 2008. Prior to Focused Investors, Dédé spent two years as a Partner at Saddle Peak Asset Management, LLC. In addition, Dédé spent nearly 20 years as part of the investment team at Pacific Financial Research serving as a Principal and Portfolio Manager. While at PFR, Dédé also was part of the portfolio management team that managed the Clipper and Clipper Focus funds. Dédé's professional experience also includes one year at the Bank of Boston. Dédé received his BS degree in Chemistry from Bates College and his MBA degree from Babson College. Advisory Services Offered Focused Investors specializes in managing fully invested, concentrated common stock portfolios comprised of high quality, primarily U.S.-based large market capitalization companies whose share

prices are selling at substantial discounts to Focused Investors’ estimates of the companies’ underlying “intrinsic values”. The investment objective of this approach is long-term capital appreciation. This is the only investment advisory service that Focused Investors provides to its clients. This investment advisory service is available either through separately managed accounts that are available to larger clients or through limited partnership interests in the Fund for smaller clients. However, separately managed accounts and the Fund are managed identically and hold the same securities and portfolio weightings. Focused Investors generally does not tailor its advisory services to the specific needs of individual clients. Rather, clients seek out Focused Investors after determining through their own due diligence that Focused Investors’ investment advisory services are consistent with the clients’ needs and investment objectives. Separately managed account clients occasionally impose restrictions on Focused Investors’ ability to invest in specific securities or types of securities. Because Focused Investors only invests in common stocks, most restrictions on types of securities such as derivatives, private placements, etc. have no effect on the portfolio. However, restrictions on specific securities such as those of companies involved in certain activities that may be viewed as socially undesirable (e.g., manufacturing and marketing tobacco related products) by some clients may affect the portfolio. If Focused Investors believes that a client’s restrictions will not result in significant differences between its portfolio and our unrestricted client portfolios, Focused Investors will accept the client. If Focused Investors believes the client’s restrictions will result in significant differences between its portfolio and the unrestricted client portfolios, Focused Investors will not accept the client. Focused Investors does not participate in any wrap fee programs. Client Assets As of December 31, 2022, Focused Investors managed $3,182,911,715 of client assets on a discretionary basis and none on a non-discretionary basis.