Source: GQG Partners LLC (chart). Bloomberg (data). Data for the time period 31 December 2016 through 31 December 2025. Trailing-Twelve Month Rolling Financials. Adjusted Net Income: Net Income excluding SBC Costs. Economic Net Income: Net Income including SBC Costs. Economic Net Income (3Y Dep.): Net Income including SBC Costs using 3-year Depreciation. Adjusted Free Cash Flow: Operating Cash Flow minus SBC Costs minus CapEx +/- mergers and acquisitions. Calculation of SBC Costs and 3-year Depreciation impact are GQG's estimations. SBC Costs: Estimated cost to offset equity dilution plus equity award taxes. 3-year Depreciation: Estimated impact from reclassifying useful life of server and networking equipment. Content does not constitute investment advice and no investment decision should be made based on it. PAST PERFORMANCE MAY NOT BE INDICATIVE OF FUTURE RESULTS.