Yacktman Asset Management LP (“Yacktman” or the “Firm”) is an investment advisory firm specializing in equity strategies which has served long-term oriented investors since 1992. Yacktman provides investment management and supervisory services on a discretionary basis and, for a limited number of clients, on a non-discretionary basis. We serve as an investment adviser or sub-adviser to a variety of clients. See “Item 7: Types of Clients” for more information with respect to our clients. As of December 31, 2023, Yacktman had assets under management of $16,182,551,870, of which $16,176,945,232 was managed on a discretionary basis and $5,606,638 was managed on a non-discretionary basis. Principal Ownership Yacktman’s institutional partner, Affiliated Managers Group, Inc. (“AMG”), a publicly-traded asset management company (NYSE: AMG), holds a majority equity interest in the Firm. The remaining equity interests are held directly and indirectly by Yacktman’s Limited Partners. AMG also holds equity interests in other investment management firms (“AMG Affiliates”). Further information on both AMG and AMG’s Affiliates is provided in “Item 10: Other Financial Industry Activities and Affiliations” of this Firm Brochure. Advisory Services As noted above, Yacktman is an investment manager specializing in equity strategies. However, our investments may include, but are not limited to, foreign equities, domestic and foreign fixed income securities, and options. We are research-oriented, and primarily utilize fundamental analysis for the selection of investments. We employ a disciplined strategy and invest in securities of any size at prices that we believe offer an attractive forward rate of return. We serve as sub-adviser to the AMG Yacktman Funds, for which AMG Funds LLC (“AMG Funds”), a wholly- owned subsidiary of AMG, is the sponsor and adviser. We also serve as sub-adviser to an Undertakings for Collective Investment in Transferable Securities (“UCITS”) fund, which is a pooled investment vehicle domiciled in Europe. We provide investment advisory services to other pooled investment vehicles, as well as accounts managed on behalf of a single entity or individual. We also serve as

an adviser to a private pooled fund. At the commencement of an advisory relationship, we request from each client their investment objectives, investment preferences, and any investment restrictions that are applicable to our management of their assets. This customization can involve restricting or reducing exposure to certain securities or economic industries, as well as adding exposure to assets other than those we typically recommend. Customization can also influence the degree of concentration in the account or the yield characteristics of the portfolio. As such, we may modify our primary investment strategies, as necessary, to meet the goals that clients specify, to accommodate the particular investment objectives and accompanying restrictions they request. We will refuse to enter into an investment advisory arrangement with a prospective client whose investment objectives are considered incompatible with our basic investment philosophy or strategies, or if the prospective client seeks to impose unduly restrictive investment guidelines, or if we cannot determine the identity of the ultimate investor. Wrap Account Programs We provide portfolio management services to certain “wrap fee” or “wrap account” programs (“wrap accounts”). Wrap accounts involve individually managed accounts for individual or institutional clients. Wrap accounts are offered as part of a larger program by a “sponsor,” usually a brokerage, banking, or investment advisory firm, and managed by one or more investment advisers. Yacktman is not a wrap account program sponsor; rather, we serve as a sub-adviser to the investment adviser or sub-adviser over accounts directed to us by t h e wrap account program sponsor. We have agreements with various wrap account program sponsors through which our services are offered, and we provide investment management services to those clients who select Yacktman as part of such programs. Yacktman does not consider client referrals when placing client trades or when determining best execution. See “Item 12: Brokerage Practices” for more information. We receive a portion of the wrap account fee for our services, and that fee can differ by program, as negotiated. See