History and Firm Structure Kiltearn is a United Kingdom (“U.K.”) limited liability partnership established in 2011 to specialize in investing in publicly traded global equity securities. As of March 31, 2024, Kiltearn had approximately US$2.4 billion of assets under management. Kiltearn does not manage any assets on a non- discretionary basis and does not participate in any wrap fee programs. Kiltearn is authorised and regulated by the Financial Conduct Authority (the “FCA”) in the U.K. and is registered as an investment adviser with the SEC in the United States (“U.S.”). As of March 31, 2024, Kiltearn had nine (9) working members and, together with its wholly owned subsidiary, had thirteen (13) employees. Kiltearn Limited (“KP Ltd”) owns a substantial majority (>95%) of Kiltearn’s capital. The remaining capital has been contributed by the working members. Under the terms of the limited liability partnership agreement (the “LLP Agreement”), the working members have the right to nominate individuals who will form part of Kiltearn’s Supervisory Group. The actual appointment or removal of these individuals is determined by vote. Voting rights are determined by capital ownership. Under the terms of the LLP Agreement, 100% of all of Kiltearn’s capital profits accrue to KP Ltd. Since April 1, 2016, 40% of Kiltearn’s income profits accrue to KP Ltd. The remaining income profits are allocated to the employees and working members of Kiltearn and those of its wholly owned subsidiary, Kiltearn Partners, Inc. (“KP Inc.”). A structure chart highlighting Kiltearn’s organisation structure and material direct and indirect owners can be found in Item 10. Kiltearn would be pleased to answer any questions that any Unitholder, separate account client or prospective investor may have on its ownership structure, industry affiliations and/or direct and indirect beneficial owners. As of May 16, 2024, Kiltearn and KP Inc.’s working members, employees and their related parties own 50.65% of KP Ltd (the capital provider to Kiltearn) and Silchester Partners Limited (“SP Ltd”) owns 49.35% of KP Ltd. SP Ltd is a member of and capital provider to Silchester. KP Ltd has two classes

of shares. SP Ltd holds 100% of the Class A shares. These shares represent 49.35% of KP Ltd.’s authorised share capital and 9.9% of KP Ltd.’s voting rights. The working members, employees and their related parties hold 100% of the Class B shares. These shares represent 50.65% of KP Ltd.’s authorised share capital and 90.1% of KP Ltd.’s voting rights. The A Shares and the B Shares have different rights. The Class B Shares (i.e., those controlled by the working members, employees and their related parties) control KP Ltd. Under KP Ltd.’s Articles, the B Shareholders have the right, in perpetuity, to name a majority of KP Ltd.’s Board of Directors, elect the Chairman, and control its day-to-day business operations. The consent of A Shareholders is required when material business decisions must be made (such as the sale of the business, the liquidation of the business, significant items of expenditure (i.e., amounts greater than 25% of the company’s capital base), amendments to the articles, etc.). Kiltearn’s investment philosophy is based on the investment and business approach of Murdoch Murchison. Prior to forming Kiltearn in 2011, Murdoch Murchison has worked at Templeton for over fifteen (15) years and was previously the investment manager of the flagship Templeton Growth Fund, launched by Sir John Templeton in 1954. Types of Services that Kiltearn Provides to Clients Kiltearn provides discretionary investment management services to its Clients. Kiltearn brings a wide range of analytical, research, portfolio implementation and administrative skills through its business. Kiltearn strives to service Clients whose investment needs are growing year-on-year. Kiltearn specialises in investing in publicly traded equity securities using a bottom-up value investment approach. Kiltearn does not provide financial planning, quantitative planning or market timing services to Unitholders or Clients. Kiltearn generally does not further customise or modify its investment program based on individual Unitholder or Client needs. Unitholders in Kiltearn’s Funds are not permitted to impose restrictions on investing in certain securities or types of securities.