Large Cap Value Equity Portfolio GTMEX Q3 | 2020

Investment Philosophy Fund Facts We believe a diversified strategy of Universe Russell 1000 Index undervalued stocks with above-average Benchmark Russell 1000 Value Index potential for price appreciation may achieve above-benchmark long-term Fund Inception January 4, 1993 capital appreciation. Expense Ratio 1.00% Morningstar Large Value Category Average Expense Ratio 1.01% Investment Strategy • Applies multi-factor quantitative screens to identify and rank stocks Assets Under Management as of 9/30/2020 with valuations below sector averages. Glenmede Large Cap Value Equity Portfolio $20.7 Million • Conducts fundamental research to identify positive earnings trends and Glenmede Investment Management $10.5 Billion other potential catalysts for price appreciation. • Screens and reevaluates holdings on Morningstar Rating an ongoing basis, applying a rigorous 9/30/2020 Overall 3 Yr 5 Yr 10 Yr sell discipline. GTMEX êê êê êê êê #Funds in Large Value Category 1120 1120 984 709 Product Highlights Morningstar Ratings™ are based on risk-adjusted returns. The Overall Morningstar Rating™ is derived from • Focus on companies with value a weighted average of the performance figures associated with a fund’s 3-, 5-, and 10-year (if applicable) characteristics plus strong Morningstar Rating™ metrics. fundamentals. • Disciplined, consistent investment process integrating fundamental and Performance (%) As of 9/30/2020 quantitative approaches. Since QTD YTD 1 Yr 3 Yr1 5 Yr1 10 Yr1 Incept1 • Value and fundamentals-based sector GTMEX 1.24 -18.17 -10.32 -0.91 5.71 8.21 8.21 rotation. Russell 1000 Value 5.59 -11.58 -5.03 2.63 7.66 9.95 9.12 Management Team Excess Return -4.35 -6.59 -5.29 -3.54 -1.95 -1.74 -0.91 1Annualized returns. Inception date: 1/4/1993. Wade Wescott Performance data quoted represents past performance; past performance does not guarantee Portfolio Manager future results. The investment return and principal value of an investment will change so that 30 years investment an investor’s shares, when redeemed, may be worth more or less than their original cost. Current experience; performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 1.800.442.8299. with Glenmede 14 years.

Investment Process

1 2 3 RESULT

Analysis of Multi-Factor Bottom-Up Ongoing Portfolio: Valuation & Valuation Fundamental Valuations & 45-65 Fundamentals Screening Analysis Fundamental Holdings Analysis

Disciplined Examine Evaluate Sell discipline Portfolio valuations fundamentals Construction

Fundamental Insights Driving Disciplined Decision-Making

All figures based on monthly data as of 9/30/2020, unless otherwise noted.

Glenmede Investment Management LP 1650 Market Street, Suite 1200, Philadelphia, PA 19103 215.419.6662 www.glenmedeim.com Large Cap Value Equity Portfolio GTMEX

Fund Characteristics Returns Based Statistics (vs Russell 1000 Value Index)

GTMEX Russell 1000 Value 1 Yr 3 Yr 5 Yr 10 Yr Number of Holdings 65 839 Information Ratio -1.62 -1.23 -0.64 -0.47 Wtd Avg. Mkt Cap ($B) 70.2 113.6 Sharpe Ratio -0.47 -0.14 0.28 0.49 Tracking Error % 3.3 2.9 3.1 3.7 P/E 13.2 18.6 Std. Dev. (Portfolio) % 24.1 18.8 16.4 15.4 P/B 1.7 2.0 Std. Dev. (Index) % 24.2 18.1 15.4 13.8 ROE 15.2 12.6 Batting Average 0.42 0.42 0.50 0.45 EPS Growth (3 yr) 10.9 13.2 Beta 0.99 1.03 1.05 1.08 Based on montly data as of 9/30/2020 Standard deviation is annualized.

Sector Diversification (%) Top Ten Holdings (%) GTMEX Russell 1000 Value Communication Services 10.17 9.57 Johnson & Johnson 4.21 Consumer Discretionary 4.80 7.58 Pfizer Inc. 3.44 Consumer Staples 12.25 8.37 Comcast Corporation Class A 3.23 Energy 3.69 3.99 AT&T Inc. 3.03 Financials 19.06 18.12 Intel Corporation 2.59 Health Care 19.24 14.33 Bristol-Myers Squibb Company 2.28 Industrials 8.29 13.05 Tyson Foods, Inc. Class A 2.27 Information Technology 6.68 9.66 General Mills, Inc. 2.26 Materials 3.36 4.75 Walgreens Boots Alliance Inc 2.00 Real Estate 2.48 4.57 Kimberly-Clark Corporation 1.91 Utilities 9.21 5.95 [Cash] 0.78 -- Total 27.22

Holdings and sector allocations are subject to change and are not recommendations to buy or sell any security. All figures based on monthly data as of 9/30/2020, unless otherwise noted.

The fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The Glenmede Funds’ prospectus contains this and other important information about the investment company, and it may be obtained by calling 1.800.442.8299, or visiting www.glenmedeim.com. Please read the prospectus carefully before you invest or send money. Mutual fund investing involves risk; principal loss is possible. The Fund may invest in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. Diversification does not assure a profit or protect against loss in a declining market. Beta: systematic risk of a portfolio; represents sensitivity to the benchmark. Excess Return: amount that returns exceed relative benchmark return. Information Ratio: ratio of expected return to risk, as measured by standard deviation. Sharpe Ratio: sharpe ratio is a simple measure-ment of the risk-adjusted performance. Price to Book (P/B): ratio of stock price to per share shareholders’ equity. Price to Earnings (P/E): ratio of stock price to earnings. Batting Average: batting average is calculated by dividing the number of quarters in which the manager beats or matches the Index by the total number of quarters in the period of question and multiplying that factor by 100. Return on Equity (ROE): net income divided by equity. Standard Deviation: measures dispersion of a set of data from its mean. 3-Year EPS Growth: annualized historical earnings per share growth over the last 3 years. EPS Growth is not a forecast of the fund’s future performance. Tracking Error: measures the active risk of the portfolio and the annualized standard deviation of the excess returns between the portfolio and its benchmark. Weighted Average Market Cap: total value of all outstanding shares weighted to reflect the portfolio’s positions. The Russell 1000 Index is an unmanaged, market-cap-italization-weighted total return index comprised of the largest 1,000 companies in the Russell 3000 Index. This unmanaged index is a total return index with dividends reinvested. Russell 1000 Value Index is a total return index with dividends reinvested. It is an unmanaged, market value weighted index, which measures the performance of the 1,000 largest companies in the Russell 3000 Index with lower price-to-book ratios and lower forecasted growth values. One cannot invest directly in an index. Total returns comprise price appreciation/depreciation and income as a percentage of the original investment. The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history, without adjustment for sales loads. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating™ for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating™ metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Morningstar ratings represented as unshaded stars are based on extended performance. These extended performance ratings are based on the historical adjusted returns prior to the inception date of the Institutional Class shares (Institutional Class inception was 11/05/2015) and reflect the historical performance of the oldest share class (inception date for Advisor Class shares was 2/27/2004), adjusted to reflect the fees and expenses of the Institutional Class shares. © 2018 Morningstar, Inc. All Rights Reserved. The information contained herein (1) is proprietary to Morningstar (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any sue of this information. The Fund is distributed by Quasar Distributors, LLC.

Glenmede Investment Management LP 1650 Market Street, Suite 1200, Philadelphia, PA 19103 215.419.6662 www.glenmedeim.com