Background The Firm is an SEC registered public securities investment adviser that has been in business since 2010 and has its principal place of business in Melbourne, Australia. The Firm is also registered with the Australian Securities and Investments Commission (“ASIC”). Ownership Structure Heitman LLC (“HLLC”) is a 100% Shareholder and parent of HIRES Pty, is the only entity that controls 25% or more of the Firm. In addition, the only entity that owns 25% or more of HLLC is KE I LLC, which holds a 99.95% stake in HLLC and acts as its managing member. The other member of HLLC is KE 2 LLC, which holds a nominal non-voting stake of 0.05%. Other Related Entities Section 7.A of Schedule D in the Firm’s Form ADV, Part 1, which is accessible by following the directions on the Cover Page of this Brochure, discloses entities that are subsidiaries of the Firm’s parent entity (hereafter collectively, “Heitman Affiliates”). This disclosure includes all registered investment adviser and broker dealer Heitman Affiliates. Heitman Affiliates utilize limited partnerships or other pooled investment vehicles (the “Heitman Funds”) for investment purposes that are structured for clients of Heitman Affiliates that principally consist of institutional investors. Heitman Affiliates also act as general partner, manager, or in other similar capacities and serve as the investment advisers of these Heitman Funds. As a matter of practice, Heitman Affiliates provide prospective investors in a Heitman Fund with the fund’s private placement memorandum or comparable offering document, which contains information specific to that investment opportunity. Additionally, in certain cases, Heitman Affiliates create special purpose entities, including limited partnerships or similar vehicles that are comprised of one or more investors, but which are not organized as Heitman Funds (“Client SPV Entities”). Similar to Heitman Funds, in these cases, Heitman Affiliates may act as general partner, managing member, or in a similar capacity and also serve as the investment adviser for the Client SPV Entities. As a practical matter, these entities are created to facilitate certain investments in real estate on behalf of one or more clients. These structures are common for real estate investments and are generally utilized for tax efficiency and to protect stakeholders from potential liabilities and third-party claims associated with the underlying real estate. Advisory Services The Firm provides investment advice and investment management services with respect to investments in equity, convertible and debt instruments of publicly traded real estate related companies, including real estate investment trusts (“REITs”), REIT-like entities and real estate operating companies (“REOCs”). In connection with the provision of the services described above, the Firm provides advice to clients regarding ©2023 Heitman LLC. All rights reserved. 6 of 27 the investment of client funds based

on each client’s stated objectives and strategies. Through direct discussions with each client, from which investment goals and objectives are identified, the Firm implements an investment policy that is documented in a separately negotiated investment management agreement or other comparable agreement or document (“IMA”). The Firm provides advisory and sub-advisory services to institutions. Examples of such advisory and sub- advisory clients are registered investment companies, investment advisers, pension and profit-sharing plans, including government pension plans, sovereign wealth funds and pooled investment vehicles. The Firm also presents the opportunity to invest in registered investment companies to its clients. The Firm manages these advisory clients on a discretionary and non-discretionary basis. Clients may impose reasonable restrictions on investing in certain securities, types of securities, industry sectors, or other factors such as geographic location and social concerns. The Firm’s investment management is generally limited to securities of publicly traded real estate related companies as well as managing currency exposure to facilitate our trading activity, as required. Such securities are typically in one or more of the following categories: − Exchange-listed securities on developed markets; − Securities traded in over-the-counter markets; − Newly issued securities by domestic and foreign issuers; or − Rights and warrants. Because some types of investments involve certain additional degrees of risk, they will only be implemented or recommended when consistent with the client’s stated investment objectives. For example, the Firm may use a covered call strategy to derive more income for a client’s portfolio; however, selling covered calls can impart more risk to the portfolio. Please see Item 8, Methods of Analysis, Investment Strategies and Risk of Loss for more information. The Firm’s discretionary investment advisory services include a variety of investment strategies from which clients may select. These strategies include Global Real Estate Securities, Global Real Estate Securities Concentrated, Global Prime, European Tactical Income Strategies and the Alternative REITs Completion Solution. The Firm also provides variations of certain of these strategies to accommodate, among other things, country exclusions or targeted yields. The Firm may also provide investment advice or license its models to non- discretionary clients, such as providing models to other investment advisers and Unified Managed Accounts. From time to time, the Firm establishes vehicles or managed accounts funded by Heitman or its employees to establish new strategies. Such strategies do not overlap with existing investment strategies managed for clients. Amount of Managed Assets As of December 31, 2023, the Firm did not have any assets under management managed on a discretionary or a non-discretionary basis. ©2023 Heitman LLC. All rights reserved. 7 of 27