Firm Description Global Evolution USA (hereinafter “Global Evolution USA”) is an affiliate of Global Evolution Asset Management A/S, (“GEAM” and which until April 3, 2024, was known as Global Evolution Fondsmaeglerselskab A/S). GEAM is authorized and regulated in Denmark by Finanstilsynet (Danish Financial Services Authority). GEAM was formed in 2007 and is headquartered in Kolding, Denmark. For purposes of this brochure, “Global Evolution” is defined as Global Evolution USA, along with its affiliate, GEAM. Global Evolution is a boutique emerging and frontier markets sovereign and corporate debt manager. In the U.S., the firm operates through its affiliate, Global Evolution USA, which was formed in 2012 to provide the investment advisory services described below to US institutional investors. Investment advisory services are provided to Global Evolution USA by GEAM. All of the business revenues and net profits of Global Evolution USA are consolidated within Global Evolution Financial ApS. Global Evolution Financial ApS wholly-owns both Global Evolution USA and GEAM. GEAM is exempt from SEC registration as a “participating affiliate” of Global Evolution USA as that term is used in relief granted by the staff of the SEC allowing U.S. registered investment advisers to use investment advisory resources of non-U.S. investment adviser affiliates subject to the regulatory supervision of the U.S. registered investment adviser. Certain employees of GEAM are subject to Global Evolution USA’s supervision and control and are treated as “Access Persons” of Global Evolution USA. Please see Item 10 “Affiliations” for a more detailed discussion of the participating affiliate relationship with Global Evolution FMS. Principal Owners The

ultimate owner of Global Evolution USA, LLC is Assicurazioni Generali S.P.A. Via a subsidiary, Generali Investments Holdings S.P.A., it owns Conning Holdings Limited (“Conning”), which, in turn, owns a majority interest in in Global Evolution Financial Aps via an holding company, Global Evolution Holding ApS. Through this majority interest, Conning has the authority to appoint a majority of members to the board of GEAM and thereby control its management. Global Evolution Holdings ApS owns 98.45% of Global Evolution Financial ApS, the 100% owner of both Global Evolution USA and GEAM. The remaining ownership interest of Global Evolution Financial Aps is held by participating employees via a long term incentive plan. Types of Advisory Services Global Evolution is a specialized emerging markets boutique firm offering portfolio management services to US registered investment companies, private investment funds and institutional clients. For institutional investors, in addition to separately managed accounts, we offer investments in private comingled funds through a broker-dealer affiliate, Conning Investment Products, Inc. Tailored Relationships Service is a critical aspect of our business. As such, we work with our clients to establish investment guidelines that optimize their goals. Accordingly, any special terms, restrictions and requirements set forth in the client’s investment management agreement will be considered. Client Assets As of February 29, 2024, Global Evolution USA had discretionary assets under management of approximately $698.5 million. The parent, Global Evolution FMS, had discretionary assets under management (including US assets) of approximately $9.6 billion as of February 29, 2024 .