The Global Growth strategy seeks to produce long-term, excess returns vs. the MSCI All Country World Index on a risk-adjusted basis over a full market cycle (at least 5 years) through bottom-up stock selectionPrimary Benchmark:MSCI ACWI IndexStrategy Highlights Active management with a long-term, private equity approach to investing Seven-step research framework focuses on quality, growth and valuation High-conviction portfolio of typically 30 to 45 stocks Low turnover: 10.8% annualized since inception 1/1/2016* High active share:strives for greater than 90%** Top 10 holdings: typically 40% - 50% Between 40% - 70% holdings in non-US companies; up to 30% holdings in emerging market companies Looks to identify high-quality companies–those with difficult-to-replicate business models Team must view cash flow growth as sustainable and profitable Stock values are modeled and regularly updated based on our four valuation scenarios: Best, Base, Bear and Worst Seeks to create a margin of safety by investing only when company is selling meaningfully below the team’s estimate of intrinsic value Active risk management defines risk as a permanent loss of capital, not tracking error or short-term relative underperformance Bottom-up stock selection drives excess returns *As of March 31, 2023. **Active share indicates the proportion of the portfolio’s holdings (by market value) that are different than the benchmark. A higher active share indicates a larger difference between the benchmark and the portfolio.The Global Growth Composite includes all discretionary accounts with market values greater than $1 million managed by Loomis Sayles that seek to produce long-term excess returns at or below benchmark risk over a full market cycle relative to the MSCI ACWI and generally within the market capitalization range of the Index. The Composite inception date is January 1, 2016. The Composite was created in 2016.