Firm Description Magellan Asset Management Limited, doing business as MFG Asset Management, offers global equity, infrastructure and global sustainable investment strategies to institutional investors located throughout the world and intermediated investors in Australia and New Zealand. It also manages these strategies in segregated, advisory, sub-advisory relationships and via globally focused investment funds for institutional and retail investors internationally. The company is a wholly owned subsidiary of Magellan Financial Group Limited (“MFG”), which is listed on the Australian Securities Exchange (ASX: MFG). MFG Asset Management’s key functions are managed from its head office in Sydney, Australia. MFG Asset Management holds the following registrations: Regulated entity Country/jurisdiction Regulatory authority Magellan Asset Management Limited Australia Australian Securities and Investments Commission (ASIC) AFSL: 304301 Magellan Asset Management Limited, doing business as MFG Asset Management United States Securities and Exchange Commission (“SEC”) No. 801-72872 As of 31 August 2023, MFG Asset Management managed U.S. $21,793 million on a discretionary basis and U.S. $3,438 million on a non-discretionary basis. MFG Asset Management was organized in 2006. Advisory Services Discretionary Advisory Services MFG Asset Management provides discretionary investment advisory services to investment companies registered with the SEC (i.e. mutual funds registered under the Investment Company Act of 1940) and institutions and high net worth investors through the management of separate accounts. MFG Asset Management is the sub-investment adviser to the following three funds that are primarily advised by Frontegra Asset Management Inc.: Frontier MFG Global Equity Fund, Frontier MFG Core Infrastructure Fund and Frontier MFG Global Sustainable Fund. MFG Asset Management also serves as investment manager and promoter to MFG Investment Fund plc, an investment company authorized and regulated by the Central Bank of Ireland pursuant to the European Communities (Undertaking for Collective Investment in Transferable Securities) Regulations, 2011, as amended. MFG Investment Fund plc is an umbrella company consisting of three sub-funds: MFG Global Fund, MFG Select Infrastructure Fund and MFG Global Sustainable Fund. MFG Asset Management also issues and manages Australian registered and unregistered pooled investment vehicles. MFG Asset Management holds an Australian Financial Services License for the purposes of issuing and managing pooled investment vehicles within Australia and undertaking the provision of discretionary investment management services for institutional clients. Magellan Asset Management Limited also operates under the trading name Airlie Funds Management (“Airlie”) for investment management services provided to Australian institutional clients investing in Australian equities.

MFG Asset Management’s investment approach is designed to build a portfolio of investments that MFG Asset Management believes can deliver attractive risk-adjusted returns over the medium to long term while reducing the risk of permanent capital loss. With the exception of the Core Infrastructure Strategy, MFG Asset Management’s disciplined portfolio construction approach takes a high conviction, benchmark agnostic approach to selecting securities issued by quality companies, while integrating risk management and macroeconomic research to reduce both portfolio aggregation risks (i.e. correlation to a single company, industry or macroeconomic risk) and macroeconomic event risk (i.e. the risk that a major macroeconomic event could have a significant adverse impact on the value of the portfolio’s investments). MFG Asset Management believes that its base investment philosophy is supported by studies that illustrate how superior long-term returns can be achieved by eliminating or minimizing negative shocks to a portfolio. Extensive research also suggests that high-quality, low-volatility stocks may have the potential to achieve superior long-term, risk-adjusted performance. MFG Asset Management’s Portfolio Managers are responsible for implementing the investment strategy for all advisory accounts. This includes: (a) the identification and selection of specific securities to be bought or sold, taking into consideration the investment objectives of the account and any account limitations or restrictions; (b) the quantity of those securities bought or sold and the related method of executing purchase and sale trades; and (c) the timing of the purchase and sale decision. All portfolio and investment decisions are made by MFG Asset Management’s Portfolio Managers based in Australia. MFG Asset Management does not provide custodial services to clients for whom it provides discretionary advice. Clients typically provide MFG Asset Management with authority to communicate with, and provide instructions to, their custodian on their behalf regarding transactions made within the advisory account. Non-Discretionary Advisory Services MFG Asset Management may also provide certain clients with non-discretionary advisory services. These services are limited to securities recommendations with any resulting investment or divestment actions arising from such recommendations undertaken by the client at their own discretion. Investment Restrictions MFG Asset Management’s discretionary authority over a separate account may be subject to limitations, restrictions, or guidelines imposed by the client. MFG Asset Management may seek to tailor its investment strategy to meet the needs of the client; however, MFG Asset Management may decline to accept or may terminate a client’s account, if the requirements placed on MFG Asset Management’s ability to manage the account are too restrictive or constrain its ability to effectively implement a particular investment strategy.