June 30, 2021

1974 Brandes Year Founded Value at a Glance Investment Style Bottom-up Investment Process Who We Are Total Assets $23.7 Billion We are a global investment advisory firm serving ($21.3 Billion AUM/ $2.4 Billion AUA1) the needs of investors, including individuals, 100% financial advisors, institutions, foundations and Employee Owned endowments. 194 / 35 Among the first investment firms to invest Employees / Investment Professionals globally using a value approach, we manage a variety of equity and fixed-income strategies. Headquarters What You Can Expect from Us Dublin, Milwaukee, Singapore, Toronto • Value: A singular focus on Global Offices • Global Reach: Company-centered investment process with a global, all-cap purview • Endurance: Navigating market cycles since 1974 Select Milestones • Independence: Our 100% employee ownership enables us to think long term 1974 Brandes Investment Partners founded How We Pursue Results 1990 Guided by the principles of , widely International Equity strategy launched considered the father of value investing, we seek to take 1991 advantage of market irrationality and short-term security U.S. Value Equity strategy launched mispricing by buying stocks and bonds that we believe are undervalued based on our estimates of their true worth. 1994 Emerging Markets Equity and We believe this is the best way we can pursue the International Small-Cap Equity strategies desired results for client portfolios over the long term. launched 1995 European Equity strategy launched Pioneer in Global Value Investing 1996 Europe office opened Developed markets Emerging and frontier markets 1999 Fixed-Income strategies from Europe Milwaukee-based Hilltop Capital acquired U.S. 40+ years 2002 40+ years Asia The Brandes Institute founded Pacific 20+ 2013 Latin years Brandes Canada expanded under the America name Bridgehouse Asset Managers; 30+ years Brandes opened Singapore office 2018 Founder and Chairman Charles Brandes retired from Brandes Investment Partners

1 AUA: Assets under advisement are assets in non-discretionary model delivery programs. Brandes Mutual Funds Who We Serve • Core Plus Fixed Income Fund • International Equity Fund • Financial Professionals • Emerging Markets Value Fund • International Small Cap Equity Fund • Financial Institutions • Small Cap Value Fund • Global Equity Fund • Financial Advisors Our Investment Strategies2 • RIAs • Institutions Global International & Emerging Markets • Public Funds • Global Equity • International Equity • Corporations/ERISA • Global Equity Income • International Small-Mid Cap Equity • Global Opportunities Value • International Small Cap Equity • Taft-Hartley Plans • Global Small-Mid Cap Equity • Emerging Markets Equity • Foundations & Endowments • Global Small Cap Equity • Emerging Markets Ex-China Equity • Investment Consultants • Global Balanced • Emerging Markets Value Equity • Private Clients U.S. • European Equity Investment Vehicles • U.S. Value Equity • Asia Pacific (ex-Japan) Equity • Mutual Funds/UCITS • U.S. Small-Mid Cap Value Equity • Japan Equity • Separately Managed • U.S. Small Cap Value Equity Fixed Income Accounts • Core Plus Fixed Income • Pooled Funds/Others 2 Go to brandes.com to see our offerings by • Corporate Focus Fixed Income region. • Enhanced Income

Invested in Our Strategies—Alongside Our Total Assets Clients by Mandates At Brandes, we have a long-established culture of investing alongside of our clients. Our Co-Investment Guidelines help ensure that our leadership’s International Equity 31% financial interests are aligned with those of our clients. Members of the Global Equity 18% firm’s various Investment Committees maintain meaningful personal Emerging Markets Strategies 22% investments in Brandes strategies, especially the ones they co-manage. International Small Cap Equity 4% European Equity 2% U.S. Value Equity 6%

By maintaining a strict focus on the relationship between business value Other Equity Strategies 13% ‘‘and stock price at the company-specific level and largely ignoring the ‘‘ Fixed Income Strategies 4% broader market’s fascination with short-term developments, value As of June 30, 2021 investors can exploit market behavior in pursuit of long-term gains. —Charles Brandes, CFA, Founder

Mutual fund investing involves risk. Principal loss is possible. A mutual fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The statutory and summary prospectuses contain this and other important information about the investment company, and may be obtained by calling 1.800.395.3807 or visiting brandesfunds.com. Read carefully before investing. The foregoing reflects the thoughts and opinions of Brandes Investment Partners exclusively and is subject to change without notice. Brandes Investment Partners® is a registered trademark of Brandes Investment Partners, L.P. in the United States and Canada. The Brandes Funds are distributed by ALPS Distributors, Inc. Brandes Investment Partners, L.P., is the advisor to the funds. BII001185 6/30/2022