Artisan Partners Limited Partnership (identified as “Artisan Partners” in this brochure) is a limited partnership organized under the laws of Delaware and is an investment adviser registered with the SEC. Artisan Partners Holdings LP wholly owns Artisan Partners and is Artisan Partners’ sole limited partner. Artisan Investments GP LLC (a wholly owned subsidiary of Artisan Partners Holding LP) is Artisan Partners’ general partner. Artisan Partners Holdings LP is a limited partnership organized under the laws of Delaware whose general partner is Artisan Partners Asset Management Inc. (“APAM”), a Delaware corporation with its Class A common stock listed on the New York Stock Exchange under the symbol APAM. Artisan Partners and its predecessors have provided investment management services since March 1995. More information concerning Artisan Partners can be found by visiting www.artisanpartners.com. Artisan Partners’ autonomous investment teams oversee a range of investment strategies across multiple asset classes, which are offered through a variety of investment products and arrangements. Information on each investment team is included in the section of this brochure entitled “Methods of Analysis, Investment Strategies and Risk of Loss.” Artisan Partners serves as investment adviser to a variety of separately managed accounts, unregistered pooled investment vehicles, trustees of collective investment trusts, and to each series of Artisan Partners Funds, Inc. (“Artisan Partners Funds”), an open-ended management investment company. Artisan Partners also serves as investment adviser to each sub-fund of Artisan Partners Global Funds plc (“Artisan Partners Global Funds”), an open-ended investment company registered with the Central Bank of Ireland pursuant to the European UCITS Directive. Additional information on the types of clients advised by Artisan Partners is included in the section of this brochure entitled “Types of Clients.” Artisan Partners generally does not tailor its investment management services to the individual needs of clients. Generally, client portfolios in each strategy are managed to a single model, consistent with the portfolio characteristics described below. However, a client may, with Artisan Partners’ consent, impose limited restrictions on investment in certain securities or types of securities in its account. Artisan Partners’ compliance monitoring of client accounts is based on its clients’ specific investment guidelines which are made a part of each client’s investment management agreement. For more information, see the sub-section below entitled “Managing Divergent Investment Restrictions and Cash in Client Accounts.” Each pooled investment vehicle sponsored by Artisan Partners is managed in accordance with its investment guidelines and restrictions and is not tailored to the individualized needs of any particular fund investor, and an investment in such a vehicle does not, in and of itself, create an advisory relationship between the investor and Artisan Partners. Artisan Partners generally accepts responsibility for management of a client account on a discretionary basis and each client enters into a written investment management agreement with Artisan Partners granting it discretionary authority. As of 31 December 2022, Artisan Partners managed $127,892,425,719 in client assets on a discretionary basis. Managing Divergent Investment Restrictions and Cash in Client Accounts Client portfolios in each strategy generally are managed to a single model. A client’s portfolio may, and often will, diverge from Artisan Partners’ model portfolio because of cash flows, divergent investment guidelines, limitations on specific types of investments (for example, derivatives or short selling), access to markets (for example, India) or certain other reasons. Cash flows may, and often will, result in more or less cash in a client’s account than in Artisan Partners’ model portfolio, and in weightings of portfolio securities that are not aligned with the model. Client-imposed investment restrictions generally result in weightings of portfolio securities that are not aligned with Artisan Partners’ model and, in some cases, more or less cash than is held in the model portfolio. Certain client-imposed restrictions or other account limitations likely will also result in a different risk profile compared to the model portfolio. For example, an account that is unable to trade Artisan Partners Limited Partnership Form ADV Brochure | 31 March 2023 2 options would have a different risk profile if the model portfolio uses an option. When that occurs, Artisan Partners will determine whether the restricted account should increase, decrease or maintain its position size based on the desired risk profile of the account. Artisan Partners typically rebalances a client’s account to the model portfolio periodically, deploying cash across all or a portion of the holdings in a client’s portfolio (subject to minimum transaction sizes). As a result, a client whose investment restrictions prohibit holding a particular security or limit the weighting of a particular security or group of securities will generally have larger weightings in some or all of the other securities that are held. In some instances, the investment team will select a replacement security or instrument or have a higher cash weighting when a model holding is restricted under a client’s investment guidelines. The rebalancing of accounts can result in multiple transactions in the same security, including opposite-way transactions, in a short period of time. Artisan Partners believes the benefits of this approach to the management of divergent positions generally outweigh the potential costs of those transactions. Client-imposed investment restrictions sometimes affect the timing or manner of purchase or sale of a security. So, for example, if a client account cannot participate in an initial public offering of a security that will be held in the portfolio past the day of the initial public offering, Artisan Partners will generally purchase that security for the account in the open market after completion of the offering. Artisan Partners generally does not accept accounts subject to investment restrictions that Artisan Partners believes would materially adversely affect its ability to manage its other client accounts. Divergence from Artisan Partners’ model portfolio, as a result of client-imposed investment restrictions, cash flows or other reasons, will result in differences between the return achieved in a client’s account and the strategy’s composite return. The divergences may be greater for accounts managed in strategies that invest in investments with less liquidity such as fixed-income investments due to, for example, lower availability and liquidity of such investments at the time an investment is made. Client accounts in which client- imposed investment restrictions are believed to have a potentially material impact on the implementation of the strategy are, based on Artisan Partners’ judgment, excluded from the strategy’s composite. Management of cash balances in a client’s account is determined at the beginning of the relationship. Generally, cash is invested in one or more investment alternatives provided by the custodian of the client’s account, as selected by the client. Other Investment Related Information Professional Qualifications All investment decisions for client accounts are made by the portfolio manager(s) for that strategy, working with associate portfolio managers, investment analysts, traders and/or risk managers dedicated to or supporting that investment team. On certain investment teams, analysts, associate portfolio managers, traders and other investment professionals have a broad degree of latitude when implementing the portfolio manager’s decisions. Artisan Partners generally employs persons as portfolio managers only if those persons have demonstrated ability in the investment advisory industry or securities industry, have related financial and professional experience or have advanced educational degrees in finance, economics or related fields. The professional qualifications of each of Artisan Partners’ portfolio managers are set forth in brochure supplements provided to Artisan Partners’ clients and potential clients. Portfolio Turnover There are no limitations on the length of time securities must be held in any strategy. The firm may, for example, sell securities within a short period of time after purchase in light of a change in the circumstances of a particular company or industry or in general market or economic conditions. A higher rate of portfolio turnover, if it occurs, results in increased transaction expenses and the realization of capital gains or losses that, in a taxable account, may reduce performance. Artisan Partners Limited Partnership Form ADV Brochure | 31 March 2023 3 Investment Guidelines and Restrictions Compliance with certain investment guidelines is measured at the time of purchase or at the time of initiation of a position in a strategy. Because of this, a newly-funded account will exceed those limits if market movements have caused Artisan Partners’ model portfolio to be above those limits at the time the new account is funded. Similarly, cash inflows to existing accounts are generally invested to maintain the relative weightings of the securities held in the portfolio, even if market movements have caused the account to be above certain limits at the time of the cash inflow. As an example, Artisan Partners has limited exposure to individual issuers within certain of its strategies to a maximum of 5% of the assets of a portfolio, measured at market value at the time of purchase. However, if at the time of the cash inflow an issuer comprises more than 5% of the portfolio’s assets due to market movement, the portfolio will generally purchase additional securities of that issuer to invest the cash inflow and maintain the weighting consistent with the model portfolio. Certain strategies also have market capitalization guidelines that reference the market capitalizations (or another market capitalization metric such as weighted average market capitalization) of the companies included in a relevant benchmark index. Changes in the composition of those indexes can cause significant fluctuations in the benchmark market capitalizations, which will cause the market capitalization of a portfolio, or the securities held in a portfolio, to be larger or smaller than the market capitalization or related metric of securities within the benchmark index for a period of time following such change. For the purpose of testing compliance with each strategy’s investment restrictions, absent specific instructions to the contrary, Artisan Partners generally considers an issuer to be from a particular country as designated by its securities information vendors, which may change from time to time. However, each investment team, in its own judgment, may consider an issuer to be from a country other than the country designated by the securities information vendors. In determining the country designations of issuers, each investment team and/or Artisan Partners’ vendors use a range of criteria, including the identity of the jurisdiction of the issuer’s incorporation, the main equity trading market for the issuer’s securities, the geographical distribution of the issuer’s operations, the location of the issuer’s headquarters or other criteria, such as the source of a company’s revenues. In addition, the country designations shown in client reports may differ from the classifications used for purposes of testing compliance with investment restrictions. Over time, country designations may change. Also for the purpose of testing compliance with each strategy’s investment restrictions, absent specific instructions to the contrary, Artisan Partners generally assigns portfolio securities and instruments to a particular sector and industry in accordance with the sector and industry classifications as designated by its securities information vendors, which may change from time to time. However, each investment team, in its own judgment, may determine that a different classification is more appropriate. Therefore, classifications may differ by strategy and investment team. In determining a security’s sector or industry classification, each investment team and/or Artisan Partners’ vendors use a range of criteria, including using information or classifications of other securities information vendors, the company description and/or other publicly available

information. In addition, the industry classifications shown in client reports may differ from the classifications used for purposes of testing compliance with investment restrictions. Sector and industry classifications may change over time. Currency Transactions Artisan Partners buys and sells currencies to facilitate purchases and sales of portfolio securities of companies that are denominated in a currency other than a client’s base currency and, with respect to certain investment strategies, to increase or decrease economic exposure to a particular currency. Artisan Partners’ primary objective in effecting currency transactions is to obtain the best combination of net price and execution under the circumstances. To facilitate purchases and sales of portfolio securities that trade in currencies other than a client’s base currency, Artisan Partners typically executes foreign exchange contracts in the spot market either by transacting with various third party foreign exchange dealers or through active Artisan Partners Limited Partnership Form ADV Brochure | 31 March 2023 4 market trading with the capital markets (foreign exchange) desk affiliated with the client’s custodial bank. Artisan Partners reviews market rates at the time of each execution and actively negotiates the rate with the foreign exchange dealer. Artisan Partners does not send foreign exchange transactions in connection with equity trades to a custodian for future execution without negotiating the rates associated with those trades unless it is directed to do so by the client, it is effectively required by local regulation or custom, or Artisan Partners believes the potential operational risk of a negotiated trade outweighs the potential benefits of a negotiated trade. For corporate actions such as mergers and offerings of rights and warrants, as well as cash dividends and interest income denominated in a currency other than a client’s base currency, Artisan Partners typically executes foreign exchange contracts in the spot market on a periodic basis through active negotiations as discussed above. There are markets in which active trading of foreign currency with a foreign exchange dealer is restricted by market practice, is operationally challenging or could be unavailable due to custodian limitations. In those markets, Artisan Partners may arrange with the client's custodian or sub-custodian for the foreign exchange transactions to be executed in the local market (a current example of such market is Taiwan). Evaluations of the services provided by dealers, including the reasonableness of rates received, are made on an ongoing basis by Artisan Partners, taking into consideration a variety of factors, including, for example, trade size, counterparty/settlement risk and operational risk. Transacting with third-party dealers will often cause an account to incur additional fees, such as wire fees for each currency transaction, that are not charged if the foreign exchange contract is transacted through the custodian bank. Additionally, there are often operational advantages to using the custodian bank, such as contractual settlement and systematic communication between the custodian bank’s currency trading operations and its equity settlements operations. In those markets where Artisan Partners must purchase or sell currencies through a client's custodian or sub-custodian for execution in the local market, Artisan Partners periodically reviews the rates received for reasonableness. With respect to each foreign exchange transaction, a client may not receive the same price received by other clients within the same strategy or the price that could have been received if the transaction had been executed with a different counterparty. Artisan Partners seeks to cooperate with individual client requests with respect to the use of third party foreign exchange dealers. However, active negotiation of rates and/or transactions executed with counterparties other than the capital markets (foreign exchange) desk affiliated with the client’s custodian (or affiliate of the custodian) or sub-custodian may not be possible due to market limitations or limitations of the custodian or, where possible, may be less beneficial to a client due to the costs associated with such transactions or the potential for increased settlement, operational or other counterparty risks described above. Certain clients may be restricted in their ability to execute foreign exchange transactions with certain dealers. Artisan Partners generally aggregates foreign exchange transactions on behalf of these clients with foreign exchange transactions on behalf of other clients and, as a result, clients who are otherwise unrestricted in their ability to select counterparties for foreign exchange transactions may be unable to execute trades with certain dealers. Significant Shareholder Reporting From time to time, Artisan Partners is required by applicable laws, rules and regulations to file reports with an issuer and/or regulators that contain information about its clients’ holdings of the issuer when the holdings are large enough to require reporting. Those reports are often publicly available and, in limited circumstances, require disclosure of the client’s identity and holdings. In addition, Artisan Partners’ clients can hold a position in an issuer that is large enough to require reporting by the client to the issuer and/or regulators under applicable laws, rules and regulations. Artisan Partners does not monitor or advise on reporting requirements for clients other than Artisan Partners Funds, Artisan Artisan Partners Limited Partnership Form ADV Brochure | 31 March 2023 5 Partners Global Funds and unregistered investment vehicles that it sponsors (each, a “Private Fund”) because, among other reasons, Artisan Partners does not have an ability to properly monitor the aggregate holdings of clients and such monitoring is generally handled by each client’s other service providers. Communications with Portfolio Company Management Members of Artisan Partners’ investment teams frequently communicate with management at companies in which the firm invests, which typically include discussions of ideas about the companies’ prospects or strategies. From time to time, Artisan Partners also communicates with a company’s board of directors or members of a company’s advisory or similar board. In some circumstances, Artisan Partners might actively participate in a shareholder meeting (including submitting an item for inclusion on the agenda of a meeting) or otherwise act in a public manner to communicate an investment team’s views about a particular company’s business strategy. In addition, Artisan Partners, from time to time, serves on creditors’ committees, equityholders’ committees or similar groups in order to protect its clients’ interests as creditor or equityholder of a company. In doing so, Artisan Partners will be subject to certain obligations as a member of the committee. For example, in certain circumstances Artisan Partners may, for a period of time, be restricted or prohibited under applicable law from transacting in instruments of the subject company as a consequence of its service on the committee or group. Artisan Partners generally can resign from a committee or group but may, in some circumstances, continue to be subject to its obligations as a member of the committee or restrictions on transactions even after resignation. Class Actions Artisan Partners tries to identify settlements of US-style securities class actions as a result of which a client may have a claim in connection with a portfolio security held or previously held by the client in an account managed by Artisan Partners. Artisan Partners will use reasonable efforts to notify its clients of these settlements and provide any information in its possession that a client reasonably requests to assist the client, its custodian, its primary adviser (in the case of clients for which Artisan Partners is sub-adviser), administrator or other service providers in submitting a claim. However, each client’s custodian should provide the client with the required documents because the securities are held in the client’s name at the custodian. The client should direct its custodian, or other service provider, as to the manner in which such matters should be handled. Unless otherwise specifically agreed with a client, Artisan Partners does not file claims for clients other than Artisan Partners Funds, Artisan Partners Global Funds and Private Funds. Artisan Partners does not decide on behalf of a client, or recommend any decision to a client, as to whether a client should submit a claim for a settlement, opt in to a lawsuit, opt out of a settlement or otherwise participate in litigation. Artisan Partners does not generally act (for itself or on behalf of clients) as plaintiff in US or non- US lawsuits or opt-in to non-US lawsuits because Artisan Partners believes that the time commitment that could be required from members of the investment team could have an adverse effect on the team’s ability to manage client portfolios and active litigation against a company by Artisan Partners may impede open communication with management of that company or other companies. Issuer Relationships Unless otherwise prohibited by a client, Artisan Partners does not restrict the ability of a client account to invest in a security solely because the security is issued by a company, or an affiliate of a company, that is also a client of or has a business relationship with Artisan Partners or its affiliates, or because a director or officer of the issuing company, or an affiliate of the issuing company, is a client or has another business relationship (including service as a director) with Artisan Partners or its affiliates. For example, the portfolio of Client A may hold securities issued by Client B, or issued by a company, a director of which is also a director of Artisan Partners Funds or APAM. Artisan Partners Limited Partnership Form ADV Brochure | 31 March 2023 6 Transactions in securities by Artisan Partners’ personnel, including personal transactions, are governed by a comprehensive code of ethics, discussed in more detail under the section of this brochure entitled “Code of Ethics, Participation or Interest in Client Transactions and Personal Trading.” Confidential Client Information Artisan Partners maintains the confidentiality of client information and does not sell client information. Artisan Partners also does not disclose confidential client information to anyone except as specifically permitted by a client, as needed to provide advisory services to a client, as requested by a regulator, or as otherwise required or permitted by law. For example, Artisan Partners may be required to share confidential client information in connection with corporate actions, to settle a specific transaction or in connection with shareholder reporting. Model Delivery Artisan Partners provides non-discretionary model portfolios to certain institutional clients and sponsors of managed account programs. Artisan Partners provides the sponsor with a model portfolio that represents the securities Artisan Partners recommends for a particular strategy and the sponsor uses the model portfolio to assist in developing one or more portfolios for itself or its clients (the model delivery programs). The sponsor pays Artisan Partners for the delivery of a model portfolio and clients in the model delivery program typically pay the sponsor fees for its services. Artisan Partners does not act as investment adviser to clients utilizing a model delivery program when it provides a model portfolio. In creating the model portfolio, Artisan Partners uses the same sources of information and investment personnel that are used to manage Artisan Partners’ other client accounts. The holdings and performance of accounts managed in the model delivery program will typically not match the discretionary accounts managed by Artisan Partners even when they follow the same investment strategy. The dispersion typically results from (i) the sponsor deciding when and if to buy any particular investment; (ii) the timing of delivering the model portfolio; (iii) guidelines applied by the sponsor; (iv) transaction costs; and (v) model portfolios typically not including initial public offerings. Please see the section of this brochure entitled “Brokerage Practices” for more detailed information. Artisan Partners Limited Partnership Form ADV Brochure | 31 March 2023 7