GW&K provides active equity and fixed income investment solutions to meet the needs of a diverse client base. The firm has been in business since 1974. As of December 31, 2023, GW&K employed 181 individuals. As of the same date, GW&K had approximately $53 billion in assets under management. This value includes approximately $2.4 billion in non-discretionary programs (such as certain unified managed account programs (“UMA”)) for which GW&K provides investment model updates to platform sponsors which then have discretion over whether and when they execute the trades for their client accounts. GW&K serves as an investment adviser or subadviser to private or high net worth clients, estates, pension and profit-sharing plans, charitable foundations, endowments, corporations, private funds, mutual funds, UCITS funds, collective trusts, exchange-traded funds (“ETFs”) and other entities. GW&K’s headquarters is located in Boston, Massachusetts with additional offices located in Winter Park, Florida and New York, New York. Principal Ownership As GW&K’s institutional partner, Affiliated Managers Group, Inc. (“AMG”), a publicly- traded global asset management company (NYSE: AMG), holds a majority equity interest in GW&K. GW&K operates independently and autonomously, and GW&K’s partners hold the balance of the equity interest in the firm. AMG also holds equity interests in other investment management firms (“AMG Affiliates”). Further information on both AMG and the AMG Affiliates is provided in Item 10. Advisory Services GW&K specializes in Municipal Bond, Taxable Bond, Equity and Multi-Asset strategies. GW&K is a research oriented investment adviser using primarily fundamental analysis for the evaluation of investment opportunities and the construction of investment portfolios. GW&K recognizes that each of its clients is unique and that their investment needs will vary. As such, GW&K’s primary investment strategies may be modified as necessary to meet specific client investment objectives. GW&K clients typically execute an investment management agreement and any investment restrictions or guidelines are implemented when the account is opened. Prior to the execution of an investment management agreement with a client, GW&K reviews any requested investment restrictions and works with the client to refine them to meet the client’s needs and provide GW&K adequate investment management flexibility. Private Client Wealth Advisory Services GW&K also provides customized wealth advisory services to certain direct private wealth clients, where the services are tailored to individual client needs and investment objectives. These services include financial planning, asset allocation recommendations and lifestyle and wealth transfer planning. GW&K does not provide legal, tax or insurance advice nor other such non-investment related advice or consulting services. GW&K clients will therefore typically need to obtain separate legal counsel for services such as estate planning implementation and other legal, tax or insurance related advice. See Item 5 for additional information on fees associated with GW&K’s wealth advisory services. For certain GW&K private wealth clients, GW&K may determine that the client could benefit from an investment strategy or pooled

investment vehicle available through a third-party investment manager (e.g., to achieve certain tax objectives). GW&K has established an Investment Solutions Committee that meets periodically (typically, quarterly) and that reviews relevant third-party investment strategies or pooled investment vehicles. See Item 5 – Fees and Expenses below, for additional information on how fees are assessed for private wealth clients. Wrap Fee & Third-party Advisory Programs “Wrap arrangements,” “wrap fee programs,” or “wrap fee accounts” involve individually managed accounts for individual or institutional clients. Wrap fee accounts are generally offered as part of a larger program by a “sponsor,” usually a brokerage, banking or investment advisory firm, with investment management services being provided by one or more investment advisers, such as GW&K. GW&K has agreements with various program sponsors through which GW&K’s services are offered as an investment option within the wrap fee program and, accordingly, GW&K provides investment management services to those clients who select GW&K as part of the program. The program sponsor pays a portion of its program fee to GW&K for its investment management services. Generally, GW&K’s approach to managing wrap fee accounts and other accounts under the same investment strategy is consistent. Although wrap programs may limit the ability for customized management of a client’s account, program sponsors and GW&K offer these clients the opportunity to customize their accounts by imposing reasonable investment restrictions on their account. In addition, when trading for wrap fee program accounts, GW&K will not always trade with the same broker/dealers as it does for other GW&K client accounts because trades for wrap fee program accounts that are invested in a GW&K Equity strategy are typically directed by the client to the wrap fee program sponsor (or its designated broker/dealer) since brokerage commissions (where applicable) are included in the wrap fee. In such situations, GW&K may be required to trade a wrap fee program’s accounts separately from other accounts being managed within the same strategy. While directed brokerage is designed to benefit the wrap fee program account through lower trading costs, there can be some circumstances where directed trades do not receive the best price, or where dividing a strategy-wide trade into separate components may inhibit GW&K’s ability to obtain the same level of execution, or as timely execution, as it may otherwise have been able to obtain if it had been able to execute the entire trade on a non-directed basis. Wrap program accounts also generally do not participate in limited offerings or new issues, such as initial public offerings. Some sponsors of wrap programs or other third- party programs prohibit the purchase of some or all limited offerings, and may also restrict the purchase of offerings in which the sponsor is involved as an underwriter. Operational limitations with these types of accounts can make trading away from the sponsor difficult and can result in additional costs. To the extent that GW&K trades away from the sponsor by placing trades with a different brokerage firm, the client will incur the costs associated with this trading in addition to the program’s wrap fees. See