Description of Firm LaSalle Investment Management, Inc. (“LaSalle”), a Maryland corporation, is a real estate investment adviser that provides investment management and advisory services on real estate assets primarily to institutional clients. LaSalle was established in 1980 as a subsidiary of LaSalle Partners. LaSalle registered with the SEC as an investment adviser in 1983. In 1997, LaSalle Partners converted its structure to a corporation, registered its initial public offering with the SEC and became listed on the New York Stock Exchange. In 1999, LaSalle Partners merged with Jones Lang Wootton, an international real estate services firm headquartered in London, England. The newly combined entity was named Jones Lang LaSalle Incorporated (NYSE: JLL) and became the direct parent of LaSalle, which it remains today. Description of Advisory Services LaSalle’s primary business is to advise clients on real estate-related investments (e.g., through direct and indirect investments in real estate, investments in LaSalle-managed real estate funds, joint ventures with real estate partners, real estate loans (including subordinated or “mezzanine” loans), and direct equity investments in real estate assets through the purchase of all or substantially all of the issued securities of real estate investment trusts (“REITs”) and similar structures) and to manage those investment portfolios. LaSalle’s client base is comprised generally of private investment funds (“Private Funds”) it sponsors, as well as separate accounts, which LaSalle refers to as “Custom Accounts.” The investors in the Private Funds and the owners of the Custom Accounts are predominantly institutional investors including government plans, pension plans and insurance companies. The LaSalle Global Solutions (“LaSalle GS”) division within LaSalle is focused on building indirect investment portfolios by partnering with real estate operators across the world and pursues investments in private equity real estate globally for its clients. LaSalle GS focuses on investment opportunities across private, public, debt and equity segments through investment in third-party and in-house funds, joint ventures, co-investments and secondaries. LaSalle GS’s global team is comprised of managers and team members located in Chicago, Baltimore, New York, London and Singapore. The team members are employed regionally based on the appropriate jurisdiction in which they reside, where they receive full compliance supervision within such regions and are subject to applicable regulatory obligations. LaSalle GS’ investments broadly fall into three types: primary investments into existing open-end funds, newly formed closed-end vehicles or identified co-investment or joint venture opportunities; secondary investments in private equity real estate vehicles that are acquired from existing investors; and recapitalizations of an asset or portfolio where new capital is typically needed to de-leverage such investment or provide operating capital. In performing advisory services, LaSalle may utilize the talents of investment professionals of non-U.S. affiliated investment advisory firms to manage a particular investment strategy or product. In keeping with applicable regulatory guidance, each such affiliate will have entered into a memorandum of understanding agreement with LaSalle through which the affiliate is considered a “Participating Affiliate” of LaSalle as that term is used in relief granted by the staff of the Securities and Exchange Commission. This allows LaSalle, as a U.S. registered investment adviser, to use the resources and professional expertise of its non-U.S. affiliates, i.e., Participating Affiliates, to render portfolio management, research or trading services to clients of LaSalle. The arrangement with its Participating Affiliates allows LaSalle to offer investment management styles and strategies that it otherwise may not manage under the framework of U.S. regulations. In partnering with its overseas affiliates, LaSalle offers management and related services to U.S. clients provided by investment management personnel associated

with Participating Affiliates, who are considered to be best positioned to provide the expertise required to manage a particular strategy or product for the client. Other services provided by LaSalle include providing strategic research, guidance on investment strategy, acquisitions and dispositions, portfolio and asset management, cash management, financial reporting, accounting, due diligence and client services. Additionally, LaSalle is the investment advisor to a non-listed, daily valued, perpetual life public REIT, JLL Income Property Trust (“IPT”). IPT’s investors are mainly retail investors but also include institutional and high net worth investors. Private Funds, IPT and Custom Accounts are referred to generally in this brochure as “clients.” LaSalle accepts engagements on both a discretionary and non-discretionary basis. In the case of discretionary engagements, LaSalle is given full authority to acquire and dispose of real estate-related assets and to manage the real estate-related assets owned by the client. Clients in non-discretionary engagements withhold some or all of the authority otherwise granted to LaSalle in discretionary engagements. For example, non-discretionary clients often require LaSalle to obtain client approval before purchasing or selling a property. Tailoring Advisory Services and Client Restrictions on Advisory Services Other than with respect to commingled investment funds (whose investment objectives and strategies are set forth in the Private Fund’s Governing Documents), LaSalle tailors its advisory services to the individual needs of clients, to the extent LaSalle can accommodate such needs and not adversely affect the services LaSalle provides to other clients. LaSalle generally provides investment advice related to three primary strategies: core, value-add, and opportunistic (further described in Item 8 “Methods Analysis, Investment Strategies and Risk of Loss”). LaSalle can also further tailor a strategy to limit investments to certain geographic locations or types of real estate. In the case of Private Fund clients, LaSalle will create the investment objectives and determine the real estate strategy or strategies used to achieve those objectives. In the case of Private Funds and Custom Accounts that LaSalle manages on a non-discretionary basis, the Client is often involved in strategy determinations and approvals for investments. Due to the nature of Private Funds and IPT, LaSalle does not provide individualized investment advice to the investors in Private Funds or IPT and such investors are expected to participate in the overall investment program for the applicable Private Fund or IPT. However, certain investors may be excused from a particular investment due to legal, regulatory or other applicable constraints or for other agreed upon reasons. Co-investment funds may be formed from time to time to invest alongside LaSalle’s Private Funds. In the case of Custom Account clients, the owners of the Custom Account can choose the investment objectives and real estate strategy or strategies and, thus, are able to restrict on the types of investments of the account. A Private Fund client may enter into side letters or other similar agreements with its investors that have the effect of establishing rights under, supplementing or altering such Private Fund’s partnership agreement or an investor’s subscription agreement. Such rights or alterations could be regarding economic terms, fee structures, excuse rights, information rights, co-investment rights (including the provision of priority allocation rights to limited partners who have capital commitments in excess of certain thresholds to one or more Private Funds), or transfer rights. Furthermore, pursuant to a Private Fund’s Governing Documents, some of such rights, terms or conditions may be elected by certain sizeable investors with “most favored nations” or “MFN” rights. Wrap Fee Programs LaSalle does not provide services to wrap fee programs. Assets Under Management LaSalle, as of December 31, 2023, managed $22,851,278,816 in client assets on a discretionary basis and $5,918,232,394 in client assets under management on a non-discretionary basis.