Long/Short Growth Equity Overview Overview The Long/Short Growth Equity seeks to generate attractive long term absolute positive returns regardless of market directionLong/Short Growth Equity Strategy Highlights Active management with a long-term, private equity approach to investing Seek to capture long and short alpha insights in a hedged vehicle to deliver equity-like returns with below-market beta and volatility Same alpha engine drives both long and short idea generation. Bottom-up stock selection drives both long and short alpha Seven-step research framework focusing on the intersection of quality, growth, and valuation Quality-growth-valuation process seeks to recognize mispricing of structurally attractive, high-quality companies as well as structurally deficient, low-quality business models For long positions, team must view cash flow growth as sustainable and profitable. Avoid and may short unprofitable businesses and those we believe will experience long-term structural decline in growth Stock values modeled and regularly updated based on our four valuation scenarios: Best, Base, Bear, and Worst Seek to create a margin of safety by investing/shorting only when a company’s stock price is at a meaningfully discount/premium to 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 High-conviction portfolio of generally up to 25 long positions and 25 short positions Top 10 long holdings typically 70%-80% Strategy Facts as of 6/30/2023Composite Inception2/1/2012Fact Sheet Portfolio ManagementAziz Hamzaogullari, CFA The Composite is absolute return oriented, therefore, no benchmark is presented. Performance Month-End Performance as of -1/-1/-1CumulativeGrossNetIndex3 monthN/AN/AN/A Year-to-dateN/AN/AN/AQuarter-End Performance as of -1/-1/-1CumulativeGrossNetIndex3 monthN/AN/AN/A Year-to-dateN/AN/AN/ATrailing Performance as of -1/-1/-1Average Annualized ReturnGrossNetIndexSince Inception 2/1/2012 Period PerformanceYearGrossNetIndexN/AN/AN/AN/A Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Current performance may be lower or higher than quoted. Returns are shown in US dollars and are annualized for one and multi-year periods. Gross returns are net of trading costs. Net returns are gross returns less effective management fees.There is no guarantee that the investment objective will be realized or that the strategy will generate positive or excess return. Monthly Characteristics Monthly as of -1/-1/-1 Duration Distribution @ERROR% Sector Distribution (Fixed) * 0.0% Country Distribution @ERROR% Maturity Distribution @ERROR% 1 Quarterly Characteristics Quarterly as of -1/-1/-1 Duration DistributionFundIndex @ERROR%@ERROR% Sector Distribution (Fixed) *FundIndex 0.0%0.0% 0.0%0.0% Country DistributionFundIndex @ERROR%0.0% Maturity DistributionFundIndex @ERROR%@ERROR% 1 Holdings Top 10 holdings may not be representative of current or future holdings and will evolve over time.