Small/Mid Cap with Managed Accounts

Important Disclosures

Investing involves risk, including possible loss of principal. Equity securities are volatile and can decline significantly in response to broad market and economic conditions. Smaller company investments can be more volatile than those of larger companies. Value investing carries the risk that a security can continue to be undervalued by the market for long periods of time. Foreign and emerging market securities may be subject to greater political, economic, environmental, credit, currency and information risks. Foreign securities may be subject to higher volatility than US securities due to varying degrees of regulation and limited liquidity. These risks are magnified in emerging markets.

There is no guarantee that the investment objective will be realized or that the strategy will generate positive or excess return.

The Russell 2500^TM Index measures the performance of the small to mid-cap segment of the U.S. equity universe, commonly referred to as “smid” cap. The Index is a subset of the Russell 3000TM Index. It includes approximately 2500 of the smallest securities based on a combination of their market capitalization and current index membership. The Index is constructed to provide a comprehensive and unbiased barometer for the small to mid-cap segment. Indices are unmanaged and do not incur fees. It is not possible to invest directly in an index.

The Composite includes all discretionary separate, commingled, and managed accounts with market values greater than $100,000 managed by Loomis Sayles that seek to identify attractively-valued, small and mid-sized companies with the potential for above average capital appreciation. The strategy objective is to generate consistent, long-term investment performance over a full market cycle superior to the Russell 2500 Index, and generally within the market capitalization range of the Index. As of 1/1/2021 the Composite was redefined to include commingled vehicles, previously only separate accounts were included. The Composite inception date is April 1, 1998. The Composite was created in July 2024.

Loomis, Sayles & Co., L.P. (“Loomis Sayles”) acts as a discretionary investment manager or non-discretionary model provider in a variety of separately managed account or wrap fee programs (each, an “SMA Program”) sponsored by a third party investment adviser, broker-dealer or other financial services firm (a “Sponsor”). When acting as a discretionary investment manager, Loomis Sayles is responsible for implementing trades in SMA Program accounts. When acting as a non-discretionary model provider, Loomis Sayles’ responsibility is limited to providing non-discretionary investment recommendations (in the form of a model portfolio) to the SMA Program Sponsor or overlay manager, and the Sponsor or overlay manager may utilize such recommendations in connection with its management of its clients’ SMA Program accounts. In such “model-based” SMA Programs (“Model-Based Programs”), it is the Sponsor or overlay manager, and not Loomis Sayles, which serves as the investment manager to, and has trade implementation. responsibility for, the Model-Based Program accounts, and may customize each client account according to the reasonable restrictions or customization that a client may request.