Benchmark returns have been obtained from a non-affiliated third party MSCI Inc. source. Neither MSCI Inc. nor any other party involved in or related to compiling, computing, or creat­ing the MSCI Inc. data make any express warranties or representatives with respect to data accuracy and com­pleteness.

The S&P 500® Index is a widely used stock market index that can serve as barometer of US stock market performance, particularly with respect to larger capitaliza­tion stocks. It is a market-weighted index of stocks of 500 leading companies in leading industries and represents a significant portion of the market value of all stocks pub­licly traded in the United States. The S&P 500 Index is a product of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates (SPDJI) and has been licensed for use by GQG Partners LLC. Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Fi­nancial Services LLC, a division of S&P Global (S&P); Dow Jones® is a registered trademark of Dow Jones Trade­mark Holdings LLC (Dow Jones). GQG Partners LLC US Equity is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.

The MSCI USA Value (Net) Index captures large and mid-cap US securities exhibiting overall value style characteristics. The value investment style characteristics for index construction are defined using three variables: book value to price, 12-month forward earnings to price and dividend yield. It’s not possible to invest directly in an index.

The MSCI All Country World Index (Net) (MSCI ACWI) is a global equity index, which tracks stocks from 23 developed and 24 emerging markets countries. With 2,757 constituents (as at 30 August 2024), the index covers approximately 85% of the global investable equity opportunity set.

Information about benchmark indices is provided to al­low you to compare it to the performance of GQG strat­egies. Investors often use these well-known and widely recognized indices as one way to gauge the investment performance of an investment manager’s strategy com­pared to investment sectors that correspond to the strat­egy. However, GQG’s investment strategies are actively managed and not intended to replicate the performance of the indices: the performance and volatility of GQG’s investment strategies may differ materially from the per­formance and volatility of their benchmark indices.