Vote Summary Report Date Range Covered: 04/01/2015 to 06/30/2015

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Reo@ Voting Report

SEI U.S. Large Companies Fund All Votes Report

VOTING RECORDS FROM:01/04/2015 TO: 30/06/2015

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

3M Company

Meeting Date: 05/12/2015 Country: USA Meeting Type: Annual Ticker: MMM

Primary ISIN: US88579Y1010 Primary SEDOL: 2595708

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Linda G. Alvarado Mgmt For Against

Voter Rationale:

1b Elect Director Sondra L. Barbour Mgmt For For

1c Elect Director Thomas 'Tony' K. Brown Mgmt For For

1d Elect Director Vance D. Coffman Mgmt For Against

Voter Rationale:

1e Elect Director Michael L. Eskew Mgmt For For

1f Elect Director Herbert L. Henkel Mgmt For For

1g Elect Director Muhtar Kent Mgmt For For

1h Elect Director Edward M. Liddy Mgmt For Against

Voter Rationale:

1i Elect Director Inge G. Thulin Mgmt For For

Voter Rationale:

1j Elect Director Robert J. Ulrich Mgmt For For

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale:

The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

AbbVie Inc.

Meeting Date: 05/08/2015 Country: USA Meeting Type: Annual Ticker: ABBV

Primary ISIN: US00287Y1091 Primary SEDOL: B92SR70

Page 1 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

AbbVie Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Roxanne S. Austin Mgmt For For

1.2 Elect Director Richard A. Gonzalez Mgmt For For

Voter Rationale:

1.3 Elect Director Glenn F. Tilton Mgmt For Withhold

Voter Rationale:

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

ACE Limited

Meeting Date: 05/21/2015 Country: Switzerland Meeting Type: Annual Ticker: ACE

Primary ISIN: CH0044328745 Primary SEDOL: B3BQMF6

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1 Accept Financial Statements and Statutory Mgmt For For Reports Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)

2.1 Allocate Disposable Profit Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--Votes FOR the allocation of income and issuance of dividends are warranted because of:* The increase in dividend; and* The payout ratio, which exceeds 30 percent.

2.2 Approve Dividend Distribution From Legal Mgmt For For Reserves Through Capital Contributions Reserve Subaccount Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--Votes FOR the allocation of income and issuance of dividends are warranted because of:* The increase in dividend; and* The payout ratio, which exceeds 30 percent.

3 Approve Discharge of Board and Senior Mgmt For For Management Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)

Page 2 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

ACE Limited

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

4.1 Ratify PricewaterhouseCoopers AG (Zurich) as Mgmt For For Auditors Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)

4.2 Ratify PricewaterhouseCoopers LLP (United Mgmt For For States) as Independent Registered Accounting Firm as Auditors Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)

4.3 Ratify BDO AG (Zurich) as Special Auditors Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)

5.1 Elect Director Evan G. Greenberg Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the director nominees is warranted.

5.2 Elect Director Robert M. Hernandez Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the director nominees is warranted.

5.3 Elect Director Michael G. Atieh Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the director nominees is warranted.

5.4 Elect Director Mary A. Cirillo Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the director nominees is warranted.

5.5 Elect Director Michael P. Connors Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the director nominees is warranted.

5.6 Elect Director John Edwardson Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the director nominees is warranted.

5.7 Elect Director Peter Menikoff Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the director nominees is warranted.

5.8 Elect Director Leo F. Mullin Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the director nominees is warranted.

5.9 Elect Director Kimberly Ross Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the director nominees is warranted.

5.10 Elect Director Robert Scully Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the director nominees is warranted.

Page 3 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

ACE Limited

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

5.11 Elect Director Eugene B. Shanks, Jr. Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the director nominees is warranted.

5.12 Elect Director Theodore E. Shasta Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the director nominees is warranted.

5.13 Elect Director David Sidwell Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the director nominees is warranted.

5.14 Elect Director Olivier Steimer Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the director nominees is warranted.

6 Elect Evan G. Greenberg as Board Chairman Mgmt For Against

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote AGAINST the election of Evan C. Greenberg as the chairman of the board is warranted given that Greenberg serves as the company's CEO.

7.1 Appoint Michael P. Connors as Member of the Mgmt For For Compensation Committee Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--Votes FOR the proposed nominees are warranted due to a lack of governance concerns and controversy surrounding the board of directors.

7.2 Appoint Mary A. Cirillo as Member of the Mgmt For For Compensation Committee Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--Votes FOR the proposed nominees are warranted due to a lack of governance concerns and controversy surrounding the board of directors.

7.3 Appoint John Edwardson as Member of the Mgmt For For Compensation Committee Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--Votes FOR the proposed nominees are warranted due to a lack of governance concerns and controversy surrounding the board of directors.

7.4 Appoint Robert M. Hernandez as Member of the Mgmt For For Compensation Committee Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--Votes FOR the proposed nominees are warranted due to a lack of governance concerns and controversy surrounding the board of directors.

8 Designate Homburger AG as Independent Proxy Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)

9 Amend Articles Re: Implement New Mgmt For For Requirements Regarding Elections, Related Corporate Governance and Certain Other Matters Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the proposal in Item 9 is warranted because:* The amendments are in response to the entering into effect of the Ordinance Against Excessive Remuneration at Listed Companies; and* Notwithstanding certain concerns noted in the analysis, the articles appear to be in shareholders' interest on balance.A vote AGAINST the proposal in Item 10 is warranted because:* The articles allow for paid non-competition agreements with excessive terms.

Page 4 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

ACE Limited

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

10 Amend Articles Re: Implement New Mgmt For Against Requirements Regarding the Compensation of the Board of Directors and Executive Management and Related Matters Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the proposal in Item 9 is warranted because:* The amendments are in response to the entering into effect of the Ordinance Against Excessive Remuneration at Listed Companies; and* Notwithstanding certain concerns noted in the analysis, the articles appear to be in shareholders' interest on balance.A vote AGAINST the proposal in Item 10 is warranted because:* The articles allow for paid non-competition agreements with excessive terms.

11.1 Approve Compensation of the Board of Mgmt For For Directors until the Next Annual General Meeting

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)

11.2 Approve Compensation of Executive Mgmt For Against Management for the Next Calendar Year Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote AGAINST this proposal is warranted because:* The proposal represents a significant potential increase in remuneration, and the company has not provided an adequate explanation for the proposed increase.

12 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)

13 Transact Other Business (Voting) Mgmt For Against

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote AGAINST this proposal is warranted, as proposals which are detrimental to shareholder value may arise without shareholders having the opportunity to make a fully informed vote on the issue.

Actavis plc

Meeting Date: 06/05/2015 Country: Ireland Meeting Type: Annual Ticker: ACT

Primary ISIN: IE00BD1NQJ95 Primary SEDOL: BD1NQJ9

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Paul M. Bisaro Mgmt For For

Voter Rationale:

Executives that sit on multiple outside public boards risk not having time and energy to discharge their role properly, particularly during unexpected company situations. The CEO's current outside commitments should come under review of the board.

1b Elect Director Nesli Basgoz Mgmt For For

1c Elect Director James H. Bloem Mgmt For For

1d Elect Director Christopher W. Bodine Mgmt For For

1e Elect Director Christopher J. Coughlin Mgmt For For

Page 5 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Actavis plc

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1f Elect Director Michael R. Gallagher Mgmt For For

1g Elect Director Catherine M. Klema Mgmt For For

1h Elect Director Peter J. McDonnell Mgmt For For

1i Elect Director Patrick J. O'Sullivan Mgmt For For

1j Elect Director Brenton L. Saunders Mgmt For For

1k Elect Director Ronald R. Taylor Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1l Elect Director Fred G. Weiss Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

While the board has identified some performance conditions for the equity awards, the annual time frame is too short to be considered long-term. We prefer to see performance periods between three and five years. Furthermore, plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay.

3 Approve PricewaterhouseCoopers LLP as Mgmt For For Auditors and Authorize Board to Fix Their Remuneration Voter Rationale:

4 Change Company Name from Actavis plc to Mgmt For For Allergan plc

5 Amend Omnibus Stock Plan Mgmt For For

6 Report on Sustainability SH Against For

Voter Rationale:

7 Stock Retention/Holding Period SH Against For

Voter Rationale:

Companies should introduce substantial, long-term holding requirements for senior executives. The idea of extending some portion past retirement, resignation or termination has merit. While the specific threshold recommended by the proponents may not be ideal, the board should take a more robust approach to stock retention of long-term equity awards. This would also facilitate recouping awards in the event of fraud, a serious deterioration of the business due to inappropriate management of risk, a major restatement or other serious management failures.

Page 6 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Adobe Systems Incorporated

Meeting Date: 04/09/2015 Country: USA Meeting Type: Annual Ticker: ADBE

Primary ISIN: US00724F1012 Primary SEDOL: 2008154

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Amy L. Banse Mgmt For For

1b Elect Director Kelly J. Barlow Mgmt For For

1c Elect Director Edward W. Barnholt Mgmt For Against

Voter Rationale: Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board.

1d Elect Director Robert K. Burgess Mgmt For Against

Voter Rationale: Executives from acquired companies are not sufficiently independent to serve on key board committees and should be considered affiliated directors.

1e Elect Director Frank A. Calderoni Mgmt For For

1f Elect Director Michael R. Cannon Mgmt For For

1g Elect Director James E. Daley Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1h Elect Director Laura B. Desmond Mgmt For For

1i Elect Director Charles M. Geschke Mgmt For For

Voter Rationale: Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee should take action to ensure an appropriately fresh board and reduce the proportion of long standing directors to reduce the risk of entrenchment.

1j Elect Director Shantanu Narayen Mgmt For For

1k Elect Director Daniel L. Rosensweig Mgmt For For

1l Elect Director Robert Sedgewick Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1m Elect Director John E. Warnock Mgmt For For

2 Amend Omnibus Stock Plan Mgmt For For

3 Ratify KPMG LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls.The board should consider a plan for bringing in a new auditing firm.

Page 7 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Adobe Systems Incorporated

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

4 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: Plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay.

Aetna Inc.

Meeting Date: 05/15/2015 Country: USA Meeting Type: Annual Ticker: AET

Primary ISIN: US00817Y1082 Primary SEDOL: 2695921

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Fernando Aguirre Mgmt For For

1b Elect Director Mark T. Bertolini Mgmt For For

Voter Rationale:

1c Elect Director Frank M. Clark Mgmt For For

1d Elect Director Betsy Z. Cohen Mgmt For Against

Voter Rationale:

1e Elect Director Molly J. Coye Mgmt For For

1f Elect Director Roger N. Farah Mgmt For For

1g Elect Director Barbara Hackman Franklin Mgmt For Against

Voter Rationale:

1h Elect Director Jeffrey E. Garten Mgmt For Against

Voter Rationale:

1i Elect Director Ellen M. Hancock Mgmt For Against

Voter Rationale:

1j Elect Director Richard J. Harrington Mgmt For For

1k Elect Director Edward J. Ludwig Mgmt For For

Page 8 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Aetna Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1l Elect Director Joseph P. Newhouse Mgmt For Against

Voter Rationale:

1m Elect Director Olympia J. Snowe Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice. Additionally, while the board has identified some performance conditions for the equity awards, the annual time frame is too short to be considered long-term. We prefer to see performance periods between three and five years.

4A Amend Policy to Disclose Payments to SH Against For Tax-Exempt Organizations Voter Rationale:

Comprehensive, aggregate disclosure on political spending is best practice. Disclosure should include all state and local donations including support for 527 organizations and ballot initiatives. In addition, the company should identify key relationships with trade associations that engage in lobbying on the corporation's behalf, as well as describe its policies and processes for giving. We ask that the board provide ultimate oversight for political donations.

4B Adopt Share Retention Policy For Senior SH Against For Executives Voter Rationale:

Aflac Incorporated

Meeting Date: 05/04/2015 Country: USA Meeting Type: Annual Ticker: AFL

Primary ISIN: US0010551028 Primary SEDOL: 2026361

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Daniel P. Amos Mgmt For For

Voter Rationale:

1b Elect Director Paul S. Amos, II Mgmt For For

1c Elect Director W. Paul Bowers Mgmt For For

Page 9 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Aflac Incorporated

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1d Elect Director Kriss Cloninger, III Mgmt For For

1e Elect Director Elizabeth J. Hudson Mgmt For Against

Voter Rationale:

1f Elect Director Douglas W. Johnson Mgmt For For

1g Elect Director Robert B. Johnson Mgmt For Against

Voter Rationale:

1h Elect Director Thomas J. Kenny Mgmt For For

1i Elect Director Charles B. Knapp Mgmt For Against

Voter Rationale:

1j Elect Director Joseph L. Moskowitz Mgmt For For

1k Elect Director Barbara K. Rimer Mgmt For Against

Voter Rationale:

1l Elect Director Melvin T. Stith Mgmt For For

1m Elect Director Takuro Yoshida Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

The plan's structure and pay-for-performance results are not sufficiently strong. Good practices include: well disclosed and stretching performance targets; performance triggers for equity awards; using different metrics for the short and long-term plans; measuring company outcomes against its appropriate peer group; and setting awards so that executives are not rewarded for below-average performance. These and other approaches will ensure that the compensation committee designs compensation packages that build shareholder value over time.

3 Ratify KPMG LLP as Auditors Mgmt For For

Voter Rationale:

AGCO Corporation

Meeting Date: 04/23/2015 Country: USA Meeting Type: Annual Ticker: AGCO

Primary ISIN: US0010841023 Primary SEDOL: 2010278

Page 10 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

AGCO Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Roy V. Armes Mgmt For Against

Voter Rationale:

1.2 Elect Director Michael C. Arnold Mgmt For For

1.3 Elect Director P. George Benson Mgmt For For

1.4 Elect Director Wolfgang Deml Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.5 Elect Director Luiz F. Furlan Mgmt For For

1.6 Elect Director George E. Minnich Mgmt For For

1.7 Elect Director Martin H. Richenhagen Mgmt For For

Voter Rationale:

1.8 Elect Director Gerald L. Shaheen Mgmt For For

1.9 Elect Director Mallika Srinivasan Mgmt For For

1.10 Elect Director Hendrikus Visser Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Ratify KPMG LLP as Auditors Mgmt For For

Akamai Technologies, Inc.

Meeting Date: 05/13/2015 Country: USA Meeting Type: Annual Ticker: AKAM

Primary ISIN: US00971T1016 Primary SEDOL: 2507457

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director George Conrades Mgmt For Against

Voter Rationale:

Page 11 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Akamai Technologies, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.2 Elect Director Jill Greenthal Mgmt For Against

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board. Furthermore, directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability.

1.3 Elect Director F. Thomson Leighton Mgmt For Against

2 Amend Omnibus Stock Plan Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Alaska Air Group, Inc.

Meeting Date: 05/07/2015 Country: USA Meeting Type: Annual Ticker: ALK

Primary ISIN: US0116591092 Primary SEDOL: 2012605

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Patricia M. Bedient Mgmt For For

1.2 Elect Director Marion C. Blakey Mgmt For For

1.3 Elect Director Phyllis J. Campbell Mgmt For Against

Voter Rationale:

1.4 Elect Director Dhiren R. Fonseca Mgmt For For

1.5 Elect Director Jessie J. Knight, Jr. Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.6 Elect Director Dennis F. Madsen Mgmt For For

1.7 Elect Director Helvi K. Sandvik Mgmt For For

1.8 Elect Director Katherine J. Savitt Mgmt For For

Page 12 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Alaska Air Group, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.9 Elect Director J. Kenneth Thompson Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.10 Elect Director Bradley D. Tilden Mgmt For For

Voter Rationale:

1.11 Elect Director Eric K. Yeaman Mgmt For Against

Voter Rationale:

2 Ratify KPMG LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Require Independent Board Chairman SH Against For

Voter Rationale:

Alcoa Inc.

Meeting Date: 05/01/2015 Country: USA Meeting Type: Annual Ticker: AA

Primary ISIN: US0138171014 Primary SEDOL: 2021805

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Kathryn S. Fuller Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.2 Elect Director L. Rafael Reif Mgmt For For

1.3 Elect Director Patricia F. Russo Mgmt For Against

Voter Rationale:

Directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability. Furthermore, executives that sit on multiple outside public boards risk not having time and energy to discharge their role properly, particularly during unexpected company situations. The CEO's current outside commitments should come under review of the board.

Page 13 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Alcoa Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.4 Elect Director Ernesto Zedillo Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Alexion Pharmaceuticals, Inc.

Meeting Date: 05/06/2015 Country: USA Meeting Type: Annual Ticker: ALXN

Primary ISIN: US0153511094 Primary SEDOL: 2036070

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Leonard Bell Mgmt For For

1.2 Elect Director David R. Brennan Mgmt For For

1.3 Elect Director M. Michele Burns Mgmt For For

1.4 Elect Director Christopher J. Coughlin Mgmt For For

1.5 Elect Director David L. Hallal Mgmt For For

1.6 Elect Director John T. Mollen Mgmt For For

1.7 Elect Director R. Douglas Norby Mgmt For Withhold

Voter Rationale:

1.8 Elect Director Alvin S. Parven Mgmt For Withhold

Voter Rationale:

1.9 Elect Director Andreas Rummelt Mgmt For For

Page 14 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Alexion Pharmaceuticals, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.10 Elect Director Ann M. Veneman Mgmt For Withhold

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board. Furthermore, the lead director is not considered sufficiently independent to serve in such role. The nominating/governance committee should appoint a fully independent lead director

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice. Furthermore, while the board has identified some performance conditions for the equity awards, the annual time frame is too short to be considered long-term. We prefer to see performance periods between three and five years.

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

4 Approve Qualified Employee Stock Purchase Mgmt For For Plan

5 Proxy Access SH Against For

Voter Rationale:

Shareholders should have the right to reasonable access to the proxy, including the nomination of directors to the board. Such a practice encourages greater accountability of directors to the shareholders whose interests they represent. Similar proxy access in other developed markets has not lead to problematic elections, as some companies fear.

6 Amend Charter -- Call Special Meetings SH Against For

Voter Rationale:

Holders of significant share capital should be entitled to call a special meeting. A total holding requirement of 5% is a suitable threshold to prevent abuse.

Alliance Data Systems Corporation

Meeting Date: 06/03/2015 Country: USA Meeting Type: Annual Ticker: ADS

Primary ISIN: US0185811082 Primary SEDOL: 2762030

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Bruce K. Anderson Mgmt For Against

Voter Rationale:

1.2 Elect Director Roger H. Ballou Mgmt For Against

Voter Rationale:

1.3 Elect Director D. Keith Cobb Mgmt For For

1.4 Elect Director E. Linn Draper, Jr. Mgmt For For

Page 15 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Alliance Data Systems Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.5 Elect Director Edward J. Heffernan Mgmt For For

1.6 Elect Director Kenneth R. Jensen Mgmt For Against

Voter Rationale:

1.7 Elect Director Robert A. Minicucci Mgmt For Against

Voter Rationale:

1.8 Elect Director Laurie A. Tucker Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Approve Omnibus Stock Plan Mgmt For Against

Voter Rationale:

The total cost of the equity plan is excessive.

4 Approve Qualified Employee Stock Purchase Mgmt For For Plan

5 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

6 Proxy Access SH Against For

Voter Rationale:

Alliant Energy Corporation

Meeting Date: 05/07/2015 Country: USA Meeting Type: Annual Ticker: LNT

Primary ISIN: US0188021085 Primary SEDOL: 2973821

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Ann K. Newhall Mgmt For For

1.2 Elect Director Dean C. Oestreich Mgmt For Withhold

Voter Rationale:

1.3 Elect Director Carol P. Sanders Mgmt For For

Page 16 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Alliant Energy Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Amend Omnibus Stock Plan Mgmt For For

4 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Allied World Assurance Company Holdings, AG

Meeting Date: 04/30/2015 Country: Switzerland Meeting Type: Annual Ticker: AWH

Primary ISIN: CH0121032772 Primary SEDOL: B4LMCN9

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1 Change Location of Registered Office to Zug, Mgmt For For Switzerland Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--Votes FOR Items 1, 2, 5, and 6 are warranted because The amendment to Item 1 is non-contentious; and The amendments in Items 2, 5, and 6 are in response to the entering into effect of the Ordinance Against Excessive Remuneration at Listed Companies; and notwithstanding certain concerns noted in the analysis, the articles appear to be in shareholders' interest on balance.Votes AGAINST Items 3 and 4 warranted because the proposed article amendments are in response to the entering into effect of the Ordinance Against Excessive Remuneration at Listed Companies, and there are several significant concerns about the company's proposals, including The articles would allow the company to grant retirement benefits to non-executive directors.

2 Amend Articles Re: Define the Duties of the Mgmt For For Compensation Committee Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--Votes FOR Items 1, 2, 5, and 6 are warranted because* The amendment to Item 1 is non-contentious; and* The amendments in Items 2, 5, and 6 are in response to the entering into effect of the Ordinance Against Excessive Remuneration at Listed Companies; and notwithstanding certain concerns noted in the analysis, the articles appear to be in shareholders' interest on balance.Votes AGAINST Items 3 and 4 warranted because the proposed article amendments are in response to the entering into effect of the Ordinance Against Excessive Remuneration at Listed Companies, and there are several significant concerns about the company's proposals, including* The articles would allow the company to grant retirement benefits to non-executive directors.

3 Amend Articles Re: Define the Company's Mgmt For For Compensation Principles Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)

4 Amend Articles Re: Notice Period in Mgmt For For Employment Agreements With Executive Officers and Agreements with Directors, and to Prohibit Loans and Credit to Executives and Directors

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)

Page 17 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Allied World Assurance Company Holdings, AG

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

5 Amend Articles Re: Limit the Number of Outside Mgmt For For Board Seats the Director and Executives may Hold Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--Votes FOR Items 1, 2, 5, and 6 are warranted because* The amendment to Item 1 is non-contentious; and* The amendments in Items 2, 5, and 6 are in response to the entering into effect of the Ordinance Against Excessive Remuneration at Listed Companies; and notwithstanding certain concerns noted in the analysis, the articles appear to be in shareholders' interest on balance.Votes AGAINST Items 3 and 4 warranted because the proposed article amendments are in response to the entering into effect of the Ordinance Against Excessive Remuneration at Listed Companies, and there are several significant concerns about the company's proposals, including* The articles would allow the company to grant retirement benefits to non-executive directors.

6 Amend Articles Re: Provide for Say-On-Pay Mgmt For For Votes Required Under Swiss law Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--Votes FOR Items 1, 2, 5, and 6 are warranted because* The amendment to Item 1 is non-contentious; and* The amendments in Items 2, 5, and 6 are in response to the entering into effect of the Ordinance Against Excessive Remuneration at Listed Companies; and notwithstanding certain concerns noted in the analysis, the articles appear to be in shareholders' interest on balance.Votes AGAINST Items 3 and 4 warranted because the proposed article amendments are in response to the entering into effect of the Ordinance Against Excessive Remuneration at Listed Companies, and there are several significant concerns about the company's proposals, including* The articles would allow the company to grant retirement benefits to non-executive directors.

7.1 Elect Barbara T. Alexander as Director Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the director nominees is warranted.

7.2 Elect Scott A. Carmilani as Director Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the director nominees is warranted.

7.3 Elect James F. Duffy as Director Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the director nominees is warranted.

7.4 Elect Bart Friedman as Director Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the director nominees is warranted.

7.5 Elect Patrick de Saint-Aignan as Director Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the director nominees is warranted.

7.6 Elect Eric S. Schwartz as Director Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the director nominees is warranted.

7.7 Elect Samuel J. Weinhoff as Director Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote FOR the director nominees is warranted.

8 Elect Scott A. Carmilani as Board Chairman Mgmt For Against

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--A vote AGAINST the election of Scott A. Carmilani as the chairman of the board is warranted given that Carmilani serves as the company's CEO.

Page 18 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Allied World Assurance Company Holdings, AG

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

9.1 Appoint Barbara T. Alexander as Member of the Mgmt For For Compensation Committee Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--Votes FOR these proposals are warranted because the Compensation Committee would be fully independent, and no concerns are noted.

9.2 Appoint James F. Duffy as Member of the Mgmt For For Compensation Committee Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--Votes FOR these proposals are warranted because the Compensation Committee would be fully independent, and no concerns are noted.

9.3 Appoint Bart Friedman as Member of the Mgmt For For Compensation Committee Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--Votes FOR these proposals are warranted because the Compensation Committee would be fully independent, and no concerns are noted.

9.4 Appoint Patrick de Saint-Aignan as Member of Mgmt For For the Compensation Committee Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--Votes FOR these proposals are warranted because the Compensation Committee would be fully independent, and no concerns are noted.

9.5 Appoint Eric S. Schwartz as Member of the Mgmt For For Compensation Committee Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--Votes FOR these proposals are warranted because the Compensation Committee would be fully independent, and no concerns are noted.

9.6 Appoint Samuel J. Weinhoff as Member of the Mgmt For For Compensation Committee Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--Votes FOR these proposals are warranted because the Compensation Committee would be fully independent, and no concerns are noted.

10 Designate Buis Buergi AG as Independent Proxy Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)

11 Approve the 2015 Compensation for Executives Mgmt For For as Required under Swiss Law Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)

12 Approve the 2015 Compensation for Directors Mgmt For For as Required under Swiss Law Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)

13 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)

14 Accept Consolidated Financial Statements and Mgmt For For Statutory Reports Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)

15 Approve Retention of Disposable Profits Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)--Votes FOR the retention of disposable profits are warranted based on the increased dividend proposal this year.

Page 19 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Allied World Assurance Company Holdings, AG

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

16 Approve Dividends Mgmt For For

17 Approve Reduction in Share Capital Mgmt For For

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)

18 Appoint Deloitte & Touche LLP as Independent Mgmt For For Auditor and Deloitte AG as Statutory Auditor

Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)

19 Appoint PricewaterhouseCoopers AG as Special Mgmt For For Auditor Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)

20 Approve Discharge of Board and Senior Mgmt For For Management Voter Rationale: Swiss incorps (covered as US by ISS) : Swiss incorps (covered as US by ISS)

21 Transact Other Business (Voting) Mgmt For Against

ALLY FINANCIAL INC.

Meeting Date: 05/28/2015 Country: USA Meeting Type: Annual Ticker: ALLY

Primary ISIN: US02005N1000 Primary SEDOL: B72XK05

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Franklin W. Hobbs Mgmt For For

1.2 Elect Director Robert T. Blakely Mgmt For Withhold

Voter Rationale:

The lack of a robust anti-pledging policy is concerning and raises questions about audit committee effectiveness in carrying out its risk oversight function. We encourage the committee to adopt a policy ideally prohibiting or severely restricting the pledging of company shares by executives.

1.3 Elect Director Mayree C. Clark Mgmt For Withhold

Voter Rationale:

1.4 Elect Director Stephen A. Feinberg Mgmt For For

1.5 Elect Director Kim S. Fennebresque Mgmt For For

Page 20 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

ALLY FINANCIAL INC.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.6 Elect Director Marjorie Magner Mgmt For For

1.7 Elect Director Mathew Pendo Mgmt For Withhold

Voter Rationale:

1.8 Elect Director John J. Stack Mgmt For Withhold

Voter Rationale:

1.9 Elect Director Jeffrey J. Brown Mgmt For For

1.10 Elect Director Kenneth J. Bacon Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

3 Advisory Vote on Say on Pay Frequency Mgmt One Year One Year

4 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

5 Amend Tax Asset Protection Plan Mgmt For For

Altria Group, Inc.

Meeting Date: 05/20/2015 Country: USA Meeting Type: Annual Ticker: MO

Primary ISIN: US02209S1033 Primary SEDOL: 2692632

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Gerald L. Baliles Mgmt For For

1.2 Elect Director Martin J. Barrington Mgmt For For

Voter Rationale: The roles of Chairman and CEO are substantially different and generally should be separated. Separation of roles is important for securing a proper balance between executives and outside shareholders and for preserving accountability.

1.3 Elect Director John T. Casteen, III Mgmt For For

1.4 Elect Director Dinyar S. Devitre Mgmt For For

1.5 Elect Director Thomas F. Farrell, II Mgmt For Against

Page 21 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Altria Group, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.6 Elect Director Thomas W. Jones Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.7 Elect Director Debra J. Kelly-Ennis Mgmt For For

1.8 Elect Director W. Leo Kiely, III Mgmt For For

1.9 Elect Director Kathryn B. McQuade Mgmt For For

1.10 Elect Director George Munoz Mgmt For For

1.11 Elect Director Nabil Y. Sakkab Mgmt For For

2 Approve Omnibus Stock Plan Mgmt For For

3 Approve Non-Employee Director Omnibus Stock Mgmt For For Plan

4 Ratify PricewaterhouseCoopers as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

5 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice. Furthermore, while the board has identified some performance conditions for the equity awards, the annual time frame is too short to be considered long-term. We prefer to see performance periods between three and five years.

6 Adopt Anti-Forced Labor Policy for Tobacco SH Against Against Supply Chain Voter Rationale: The company's existing policies and practices largely address the issues raised in this proposal.

7 Inform Poor and Less Educated on Health SH Against Against Consequences of Tobacco Voter Rationale: The company's existing policies and practices largely address the issues raised in this proposal.

8 Report on Green Tobacco Sickness SH Against Against

Voter Rationale: This proposal is overly prescriptive and the company's existing disclosures adequately address the issues raised in this proposal.

Amazon.com, Inc.

Meeting Date: 06/10/2015 Country: USA Meeting Type: Annual Ticker: AMZN

Primary ISIN: US0231351067 Primary SEDOL: 2000019

Page 22 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Amazon.com, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Jeffrey P. Bezos Mgmt For For

1b Elect Director Tom A. Alberg Mgmt For For

1c Elect Director John Seely Brown Mgmt For For

1d Elect Director William B. Gordon Mgmt For For

1e Elect Director Jamie S. Gorelick Mgmt For For

Voter Rationale: In the past we have expressed concerns in relation to the board's limited responsiveness around our engagement on the company's sustainability strategy. However, over the last year we note certain improvements and expect this positive trend to continue.

1f Elect Director Judith A. McGrath Mgmt For For

1g Elect Director Alain Monié Mgmt For For

1h Elect Director Jonathan J. Rubinstein Mgmt For For

1i Elect Director Thomas O. Ryder Mgmt For Against

Voter Rationale: Directors whose close family members are employed at the company are not sufficiently independent to serve on key board committees and should be considered affiliated directors.

1j Elect Director Patricia Q. Stonesifer Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Adopt Proxy Access Right SH Against For

4 Report on Political Contributions SH Against For

Voter Rationale: Comprehensive, aggregate disclosure on political spending is best practice. Disclosure should include all state and local donations including support for 527 organizations and ballot initiatives. In addition, the company should identify key relationships with trade associations that engage in lobbying on the corporation's behalf, as well as describe its policies and processes for giving. We ask that the board provide ultimate oversight for political donations.

5 Report on Sustainability, Including GHG Goals SH Against For

Voter Rationale: Enhanced disclosure of social and environmental risks and opportunities for businesses is important. In line with integrated reporting trends, companies that exhibit best practices are able to demonstrate how their sustainability policies and practices directly influence the success of their performance over the long-term. We continue to encourage the company to further develop a robust sustainability strategy.

6 Report on Human Rights Risk Assessment SH Against Abstain Process Voter Rationale: While we are supportive of the spirit of this proposal, we believe that the issues it raises ought to be addressed through the development of a robust sustainability strategy as noted under the above sustainability shareholder proposal.

Page 23 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Ameren Corporation

Meeting Date: 04/23/2015 Country: USA Meeting Type: Annual Ticker: AEE

Primary ISIN: US0236081024 Primary SEDOL: 2050832

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Warner L. Baxter Mgmt For For

Voter Rationale:

1.2 Elect Director Catherine S. Brune Mgmt For For

1.3 Elect Director J. Edward Coleman Mgmt For For

1.4 Elect Director Ellen M. Fitzsimmons Mgmt For For

1.5 Elect Director Walter J. Galvin Mgmt For For

1.6 Elect Director Richard J. Harshman Mgmt For For

1.7 Elect Director Gayle P. W. Jackson Mgmt For For

1.8 Elect Director James C. Johnson Mgmt For For

1.9 Elect Director Steven H. Lipstein Mgmt For For

1.10 Elect Director Stephen R. Wilson Mgmt For For

1.11 Elect Director Jack D. Woodard Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

4 Require Independent Board Chairman SH Against For

Voter Rationale:

5 Report on Lobbying Payments SH Against For

Voter Rationale:

6 Include Carbon Reduction as a Performance SH Against For Measure for Senior Executive Compensation Voter Rationale:

Social and environmental issues can affect long-term shareholder value and should be included where relevant in evaluations and compensation.

Page 24 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

American Airlines Group Inc.

Meeting Date: 06/03/2015 Country: USA Meeting Type: Annual Ticker: AAL

Primary ISIN: US02376R1023 Primary SEDOL: BCV7KT2

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director James F. Albaugh Mgmt For For

1b Elect Director Jeffrey D. Benjamin Mgmt For For

1c Elect Director John T. Cahill Mgmt For Against

Voter Rationale:

1d Elect Director Michael J. Embler Mgmt For For

1e Elect Director Matthew J. Hart Mgmt For For

1f Elect Director Alberto Ibarguen Mgmt For For

1g Elect Director Richard C. Kraemer Mgmt For For

1h Elect Director Denise M. O'Leary Mgmt For For

1i Elect Director W. Douglas Parker Mgmt For For

Voter Rationale:

1j Elect Director Ray M. Robinson Mgmt For For

1k Elect Director Richard P. Schifter Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

American Electric Power Company, Inc.

Meeting Date: 04/21/2015 Country: USA Meeting Type: Annual Ticker: AEP

Primary ISIN: US0255371017 Primary SEDOL: 2026242

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Nicholas K. Akins Mgmt For For

Page 25 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

American Electric Power Company, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

Voter Rationale:

1.2 Elect Director David J. Anderson Mgmt For For

1.3 Elect Director J. Barnie Beasley, Jr. Mgmt For For

1.4 Elect Director Ralph D. Crosby, Jr. Mgmt For For

1.5 Elect Director Linda A. Goodspeed Mgmt For For

1.6 Elect Director Thomas E. Hoaglin Mgmt For For

1.7 Elect Director Sandra Beach Lin Mgmt For For

1.8 Elect Director Richard C. Notebaert Mgmt For For

1.9 Elect Director Lionel L. Nowell, III Mgmt For For

1.10 Elect Director Stephen S. Rasmussen Mgmt For For

1.11 Elect Director Oliver G. Richard, III Mgmt For For

1.12 Elect Director Sara Martinez Tucker Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Approve Omnibus Stock Plan Mgmt For For

5 Eliminate Fair Price Provision Mgmt For For

6 Eliminate Supermajority Vote Requirement Mgmt For For

Voter Rationale:

Board efforts to reduce supermajority provisions are appreciated, as they create artificial barriers for shareholders. Majority voting should be sufficient to change policies.

7 Adopt Proxy Access Right SH Against For

Voter Rationale:

American Financial Group, Inc.

Meeting Date: 05/12/2015 Country: USA Meeting Type: Annual Ticker: AFG

Primary ISIN: US0259321042 Primary SEDOL: 2134532

Page 26 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

American Financial Group, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Carl H. Lindner, III Mgmt For For

1.2 Elect Director S. Craig Lindner Mgmt For For

1.3 Elect Director Kenneth C. Ambrecht Mgmt For For

1.4 Elect Director John B. Berding Mgmt For For

1.5 Elect Director Joseph E. (Jeff) Consolino Mgmt For For

1.6 Elect Director Virginia 'Gina' C. Drosos Mgmt For For

1.7 Elect Director James E. Evans Mgmt For For

1.8 Elect Director Terry S. Jacobs Mgmt For For

1.9 Elect Director Gregory G. Joseph Mgmt For For

1.10 Elect Director William W. Verity Mgmt For Withhold

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.11 Elect Director John I. Von Lehman Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Approve Omnibus Stock Plan Mgmt For Against

Voter Rationale:

AMERICAN INTERNATIONAL GROUP, INC.

Meeting Date: 05/13/2015 Country: USA Meeting Type: Annual Ticker: AIG

Primary ISIN: US0268747849 Primary SEDOL: 2027342

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director W. Don Cornwell Mgmt For For

Page 27 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

AMERICAN INTERNATIONAL GROUP, INC.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1b Elect Director Peter R. Fisher Mgmt For For

1c Elect Director John H. Fitzpatrick Mgmt For For

1d Elect Director Peter D. Hancock Mgmt For For

1e Elect Director William G. Jurgensen Mgmt For For

1f Elect Director Christopher S. Lynch Mgmt For For

1g Elect Director George L. Miles, Jr. Mgmt For For

1h Elect Director Henry S. Miller Mgmt For For

1i Elect Director Robert S. Miller Mgmt For For

1j Elect Director Suzanne Nora Johnson Mgmt For For

1k Elect Director Ronald A. Rittenmeyer Mgmt For For

1l Elect Director Douglas M. Steenland Mgmt For For

1m Elect Director Theresa M. Stone Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale:

American Tower Corporation

Meeting Date: 05/20/2015 Country: USA Meeting Type: Annual Ticker: AMT

Primary ISIN: US03027X1000 Primary SEDOL: B7FBFL2

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Raymond P. Dolan Mgmt For Against

Voter Rationale:

The board lacks both an independent chairman and a sufficiently independent lead director. At the very least, the nominating committee should appoint a fully independent lead director whose independence is not compromised.

1b Elect Director Carolyn F. Katz Mgmt For For

1c Elect Director Gustavo Lara Cantu Mgmt For For

Page 28 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

American Tower Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1d Elect Director Craig Macnab Mgmt For For

1e Elect Director JoAnn A. Reed Mgmt For For

1f Elect Director Pamela D.A. Reeve Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1g Elect Director David E. Sharbutt Mgmt For For

1h Elect Director James D. Taiclet, Jr. Mgmt For For

Voter Rationale:

1i Elect Director Samme L. Thompson Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Ameriprise Financial, Inc.

Meeting Date: 04/29/2015 Country: USA Meeting Type: Annual Ticker: AMP

Primary ISIN: US03076C1062 Primary SEDOL: B0J7D57

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1a Elect Director James M. Cracchiolo Mgmt For For

Voter Rationale:

1.1b Elect Director Dianne Neal Blixt Mgmt For For

1.1c Elect Director Amy DiGeso Mgmt For For

1.1d Elect Director Lon R. Greenberg Mgmt For For

1.1e Elect Director Siri S. Marshall Mgmt For For

1.1f Elect Director Jeffrey Noddle Mgmt For For

Page 29 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Ameriprise Financial, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1g Elect Director H. Jay Sarles Mgmt For Against

Voter Rationale:

Directors whose close family members are employed at the company are not sufficiently independent to serve on key board committees and should be considered affiliated directors.

1.1h Elect Director Robert F. Sharpe, Jr. Mgmt For For

1.1i Elect Director William H. Turner Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Amgen Inc.

Meeting Date: 05/14/2015 Country: USA Meeting Type: Annual Ticker: AMGN

Primary ISIN: US0311621009 Primary SEDOL: 2023607

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director David Baltimore Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.2 Elect Director Frank J. Biondi, Jr. Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.3 Elect Director Robert A. Bradway Mgmt For For

Voter Rationale:

1.4 Elect Director Francois de Carbonnel Mgmt For For

1.5 Elect Director Vance D. Coffman Mgmt For For

1.6 Elect Director Robert A. Eckert Mgmt For For

1.7 Elect Director Greg C. Garland Mgmt For Against

Voter Rationale:

1.8 Elect Director Rebecca M. Henderson Mgmt For For

Page 30 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Amgen Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.9 Elect Director Frank C. Herringer Mgmt For For

1.10 Elect Director Tyler Jacks Mgmt For For

1.11 Elect Director Judith C. Pelham Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.12 Elect Director Ronald D. Sugar Mgmt For For

1.13 Elect Director R. Sanders Williams Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Provide Vote Counting to Exclude Abstentions SH Against For

Voter Rationale:

Uninstructed broker votes should not be counted as indicating support for management automatically. Any uninstructed votes should be excluded from vote tallies.

Amphenol Corporation

Meeting Date: 05/20/2015 Country: USA Meeting Type: Annual Ticker: APH

Primary ISIN: US0320951017 Primary SEDOL: 2145084

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Ronald P. Badie Mgmt For For

1.2 Elect Director Stanley L. Clark Mgmt For Against

Voter Rationale:

Hedging of company stock by executives should be prohibited as it potentially severs management alignment with shareholder interest.

1.3 Elect Director David P. Falck Mgmt For Against

Voter Rationale:

Hedging of company stock by executives should be prohibited as it potentially severs management alignment with shareholder interest.

1.4 Elect Director Edward G. Jepsen Mgmt For Against

Voter Rationale:

Page 31 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Amphenol Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.5 Elect Director Randall D. Ledford Mgmt For For

1.6 Elect Director Andrew E. Lietz Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence. Furthermore, this director is not sufficiently independent to serve as the independent lead director. Moreover, the lead director is not considered sufficiently independent to serve in such role. The nominating/governance committee should appoint a fully independent lead director. Lastly, hedging of company stock by executives should be prohibited as it potentially severs management alignment with shareholder interest.

1.7 Elect Director Martin H. Loeffler Mgmt For For

1.8 Elect Director John R. Lord Mgmt For Against

Voter Rationale:

Hedging of company stock by executives should be prohibited as it potentially severs management alignment with shareholder interest.

1.9 Elect Director R. Adam Norwitt Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

4 Increase Authorized Common Stock Mgmt For For

Anheuser-Busch InBev SA

Meeting Date: 04/29/2015 Country: Belgium Meeting Type: Annual/Special Ticker: ABI

Primary ISIN: BE0003793107 Primary SEDOL: 4755317

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

Meeting for ADR Holders Mgmt

Special Meeting Mgmt

A1 Amend Articles Re: Remove References to Mgmt For For Bearer Shares

Annual Meeting Mgmt

B1 Receive Directors' Reports (Non-Voting) Mgmt

B2 Receive Auditors' Reports (Non-Voting) Mgmt

B3 Receive Consolidated Financial Statements and Mgmt Statutory Reports (Non-Voting)

B4 Approve Financial Statements, Allocation of Mgmt For For Income, and Dividends of EUR 3.00 per Share

Page 32 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Anheuser-Busch InBev SA

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

B5 Approve Discharge of Directors Mgmt For For

B6 Approve Discharge of Auditors Mgmt For For

B7a Reelect Michele Burns as Independent Director Mgmt For For

B7b Reelect Olivier Goudet as Independent Director Mgmt For For

B7c Elect Kasper Rosted as Independent Director Mgmt For For

B7d Reelect Paul Cornet de Ways Ruart as Director Mgmt For Against

Voter Rationale:

For controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.

B7e Reelect Stefan Descheemaeker as Director Mgmt For Against

Voter Rationale:

For controlled companies, the board should include at least 33% independent non-executive directors to ensure appropriate balance of independence and objectivity.

B8a Approve Remuneration Report Mgmt For Against

Voter Rationale:

Incentive awards to executives should be clearly disclosed and include robust and stretching performance targets to reward strong performance and drive shareholder value over a suffciently long period of time. Furthermore, variable remuneration and equity incentives should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.

B8b Proposal to Increase Remuneration of Audit Mgmt For For Committee Chairman

B8c Approve Non-Employee Director Stock Option Mgmt For Against Plan and According Stock Option Grants to Non-Executive Directors Voter Rationale:

Share options should not be granted to non-executive directors as this may compromise their independence and ability to hold management accountable.

C1 Authorize Implementation of Approved Mgmt For For Resolutions and Filing of Required Documents/Formalities at Trade Registry

Annaly Capital Management, Inc.

Meeting Date: 05/21/2015 Country: USA Meeting Type: Annual Ticker: NLY

Primary ISIN: US0357104092 Primary SEDOL: 2113456

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Wellington J. Denahan Mgmt For For

Page 33 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Annaly Capital Management, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

Voter Rationale:

1b Elect Director Michael Haylon Mgmt For For

1c Elect Director Donnell A. Segalas Mgmt For Against

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board and should take immediate action to reduce the proportion of long standing directors and reduce the risk of entrenchment. Furthermore, directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability. Moreover, the board lacks both an independent chairman and a sufficiently independent lead director. At the very least, the nominating committee should appoint a fully independent lead director whose independence is not compromised.

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Ratify Ernst & Young LLP as Auditors Mgmt For For

ANSYS, Inc.

Meeting Date: 05/14/2015 Country: USA Meeting Type: Annual Ticker: ANSS

Primary ISIN: US03662Q1058 Primary SEDOL: 2045623

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Bradford C. Morley Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence. Furthermore, directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability.

1.2 Elect Director Patrick J. Zilvitis Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Anthem, Inc.

Meeting Date: 05/13/2015 Country: USA Meeting Type: Annual Ticker: ANTM

Primary ISIN: US0367521038 Primary SEDOL: BSPHGL4

Page 34 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Anthem, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Julie A. Hill Mgmt For Against

Voter Rationale:

1b Elect Director Ramiro G. Peru Mgmt For For

1c Elect Director John H. Short Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice for large companies. Furthermore, while the board has identified some performance conditions for the equity awards, the annual time frame is too short to be considered long-term. We prefer to see performance periods between three and five years.

4 Declassify the Board of Directors SH None For

Voter Rationale:

The annual election of directors provides greater accountability to shareholders and is a widely accepted best practice in corporate governance. Shareholders should have the opportunity to communicate with directors regarding their performance regularly.

5 Proxy Access SH Against For

Voter Rationale:

AOL Inc.

Meeting Date: 05/27/2015 Country: USA Meeting Type: Annual Ticker: AOL

Primary ISIN: US00184X1054 Primary SEDOL: B3XD9K9

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Tim Armstrong Mgmt For For

Voter Rationale:

1.2 Elect Director Eve Burton Mgmt For For

1.3 Elect Director Richard Dalzell Mgmt For For

Page 35 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

AOL Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.4 Elect Director Alberto Ibarguen Mgmt For For

1.5 Elect Director Hugh F. Johnston Mgmt For For

1.6 Elect Director Dawn G. Lepore Mgmt For For

1.7 Elect Director Patricia Mitchell Mgmt For Against

Voter Rationale:

1.8 Elect Director Fredric Reynolds Mgmt For For

1.9 Elect Director James Stengel Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Amend Executive Incentive Bonus Plan Mgmt For For

Apache Corporation

Meeting Date: 05/14/2015 Country: USA Meeting Type: Annual Ticker: APA

Primary ISIN: US0374111054 Primary SEDOL: 2043962

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1 Elect Director George D. Lawrence Mgmt For Against

Voter Rationale:

2 Elect Director John E. Lowe Mgmt For For

3 Elect Director Rodman D. Patton Mgmt For Against

Voter Rationale:

Page 36 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Apache Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

4 Elect Director Charles J. Pitman Mgmt For Against

Voter Rationale:

5 Ratify Ernst & Young LLP as Auditors Mgmt For For

6 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

7 Declassify the Board of Directors Mgmt For For

Voter Rationale:

The decision to declassify the board is laudable. The annual election of directors provides greater board accountability to shareholders and is appreciated.

8 Proxy Access SH For For

Voter Rationale:

Applied Materials, Inc.

Meeting Date: 04/02/2015 Country: USA Meeting Type: Annual Ticker: AMAT

Primary ISIN: US0382221051 Primary SEDOL: 2046552

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Aart J. de Geus Mgmt For For

1b Elect Director Gary E. Dickerson Mgmt For For

1c Elect Director Stephen R. Forrest Mgmt For For

1d Elect Director Thomas J. Iannotti Mgmt For For

1e Elect Director Susan M. James Mgmt For For

1f Elect Director Alexander A. Karsner Mgmt For For

1g Elect Director Dennis D. Powell Mgmt For For

1h Elect Director Willem P. Roelandts Mgmt For For

Page 37 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Applied Materials, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1i Elect Director Michael R. Splinter Mgmt For For

1j Elect Director Robert H. Swan Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Ratify KPMG LLP as Auditors Mgmt For For

Archer-Daniels-Midland Company

Meeting Date: 05/07/2015 Country: USA Meeting Type: Annual Ticker: ADM

Primary ISIN: US0394831020 Primary SEDOL: 2047317

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Alan L. Boeckmann Mgmt For For

1.2 Elect Director Mollie Hale Carter Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.3 Elect Director Terrell K. Crews Mgmt For For

1.4 Elect Director Pierre Dufour Mgmt For For

1.5 Elect Director Donald E. Felsinger Mgmt For For

1.6 Elect Director Juan R. Luciano Mgmt For For

1.7 Elect Director Antonio Maciel Neto Mgmt For For

1.8 Elect Director Patrick J. Moore Mgmt For For

1.9 Elect Director Thomas F. O'Neill Mgmt For For

1.10 Elect Director Francisco Sanchez Mgmt For For

1.11 Elect Director Daniel Shih Mgmt For For

1.12 Elect Director Kelvin R. Westbrook Mgmt For For

1.13 Elect Director Patricia A. Woertz Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

4 Amend Omnibus Stock Plan Mgmt For For

Page 38 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Archer-Daniels-Midland Company

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

5 Require Independent Board Chairman SH Against For

Voter Rationale:

Arrow Electronics, Inc.

Meeting Date: 05/21/2015 Country: USA Meeting Type: Annual Ticker: ARW

Primary ISIN: US0427351004 Primary SEDOL: 2051404

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Barry W. Perry Mgmt For Withhold

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.2 Elect Director Philip K. Asherman Mgmt For For

1.3 Elect Director Gail E. Hamilton Mgmt For Withhold

Voter Rationale:

1.4 Elect Director John N. Hanson Mgmt For Withhold

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.5 Elect Director Richard S. Hill Mgmt For For

1.6 Elect Director M.F. (Fran) Keeth Mgmt For For

1.7 Elect Director Andrew C. Kerin Mgmt For For

1.8 Elect Director Michael J. Long Mgmt For For

Voter Rationale:

1.9 Elect Director Stephen C. Patrick Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

3 Amend Omnibus Stock Plan Mgmt For For

Page 39 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Arrow Electronics, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

4 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Assurant, Inc.

Meeting Date: 05/07/2015 Country: USA Meeting Type: Annual Ticker: AIZ

Primary ISIN: US04621X1081 Primary SEDOL: 2331430

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1a Elect Director Elaine D. Rosen Mgmt For For

1.1b Elect Director Howard L. Carver Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.1c Elect Director Juan N. Cento Mgmt For For

1.1d Elect Director Alan B. Colberg Mgmt For For

1.1e Elect Director Elyse Douglas Mgmt For For

1.1f Elect Director Lawrence V. Jackson Mgmt For For

1.1g Elect Director Charles J. Koch Mgmt For For

1.1h Elect Director Jean-Paul L. Montupet Mgmt For For

1.1i Elect Director Paul J. Reilly Mgmt For For

1.1j Elect Director Robert W. Stein Mgmt For For

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

3 Amend Omnibus Stock Plan Mgmt For For

4 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Page 40 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

AT&T Inc.

Meeting Date: 04/24/2015 Country: USA Meeting Type: Annual Ticker: T

Primary ISIN: US00206R1023 Primary SEDOL: 2831811

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Randall L. Stephenson Mgmt For For

Voter Rationale:

1.2 Elect Director Scott T. Ford Mgmt For For

1.3 Elect Director Glenn H. Hutchins Mgmt For For

1.4 Elect Director William E. Kennard Mgmt For For

1.5 Elect Director Jon C. Madonna Mgmt For For

1.6 Elect Director Michael B. McCallister Mgmt For For

1.7 Elect Director John B. McCoy Mgmt For Against

Voter Rationale:

1.8 Elect Director Beth E. Mooney Mgmt For For

1.9 Elect Director Joyce M. Roché Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.10 Elect Director Matthew K. Rose Mgmt For For

1.11 Elect Director Cynthia B. Taylor Mgmt For Against

Voter Rationale:

1.12 Elect Director Laura D'Andrea Tyson Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Page 41 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

AT&T Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

4 Report on Indirect Political Contribution SH Against For

Voter Rationale:

5 Report on Lobbying Payments and Policy SH Against For

Voter Rationale:

6 Amend Bylaws to Call Special Meetings SH Against For

Voter Rationale:

Holders of significant share capital should be entitled to call a special meeting.

Autodesk, Inc.

Meeting Date: 06/10/2015 Country: USA Meeting Type: Annual Ticker: ADSK

Primary ISIN: US0527691069 Primary SEDOL: 2065159

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Carl Bass Mgmt For For

1b Elect Director Crawford W. Beveridge Mgmt For Against

Voter Rationale:

1c Elect Director J. Hallam Dawson Mgmt For Against

Voter Rationale:

1d Elect Director Thomas Georgens Mgmt For Against

Voter Rationale:

1e Elect Director Per-Kristian Halvorsen Mgmt For Against

Voter Rationale:

1f Elect Director Mary T. McDowell Mgmt For For

1g Elect Director Lorrie M. Norrington Mgmt For For

Page 42 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Autodesk, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1h Elect Director Betsy Rafael Mgmt For For

1i Elect Director Stacy J. Smith Mgmt For For

1j Elect Director Steven M. West Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

4 Amend Omnibus Stock Plan Mgmt For For

Autoliv, Inc.

Meeting Date: 05/05/2015 Country: USA Meeting Type: Annual Ticker: ALV

Primary ISIN: US0528001094 Primary SEDOL: 2064253

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Aicha Evans Mgmt For For

1.2 Elect Director David E. Kepler Mgmt For For

1.3 Elect Director Xiaozhi Liu Mgmt For For

1.4 Elect Director George A. Lorch Mgmt For For

Voter Rationale:

1.5 Elect Director Kazuhiko Sakamoto Mgmt For For

1.6 Elect Director Wolfgang Ziebart Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

3 Ratify Ernst & Young AB as Auditors Mgmt For For

Page 43 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Avago Technologies Limited

Meeting Date: 04/08/2015 Country: Singapore Meeting Type: Annual Ticker: AVGO

Primary ISIN: SG9999006241 Primary SEDOL: B3WS2X9

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Hock E. Tan Mgmt For For

1b Elect Director John T. Dickson Mgmt For For

1c Elect Director James V. Diller Mgmt For For

1d Elect Director Lewis C. Eggebrecht Mgmt For For

1e Elect Director Bruno Guilmart Mgmt For For

1f Elect Director Kenneth Y. Hao Mgmt For For

1g Elect Director Justine F. Lien Mgmt For For

1h Elect Director Donald Macleod Mgmt For For

1i Elect Director Peter J. Marks Mgmt For For

2 Approve PricewaterhouseCoopers LLP as Mgmt For For Auditors and Authorize Board to Fix Their Remuneration

3 Approve Issuance of Shares with or without Mgmt For Against Preemptive Rights Voter Rationale: Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.

4 Approve Repurchase of up to 10 Percent of Mgmt For For Issued Capital

5 Approve Cash Compensation to Directors Mgmt For For

Avis Budget Group, Inc.

Meeting Date: 05/19/2015 Country: USA Meeting Type: Annual Ticker: CAR

Primary ISIN: US0537741052 Primary SEDOL: B1CL8J2

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Ronald L. Nelson Mgmt For For

Page 44 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Avis Budget Group, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

Voter Rationale:

1.2 Elect Director Alun Cathcart Mgmt For Against

Voter Rationale:

Executives from acquired companies are not sufficiently independent to serve on key board committees and should be considered affiliated directors.

1.3 Elect Director Mary C. Choksi Mgmt For For

1.4 Elect Director Leonard S. Coleman Mgmt For Against

Voter Rationale:

1.5 Elect Director Jeffrey H. Fox Mgmt For For

1.6 Elect Director John D. Hardy, Jr. Mgmt For For

1.7 Elect Director Lynn Krominga Mgmt For For

1.8 Elect Director Eduardo G. Mestre Mgmt For For

1.9 Elect Director F. Robert Salerno Mgmt For For

1.10 Elect Director Stender E. Sweeney Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

Bank of America Corporation

Meeting Date: 05/06/2015 Country: USA Meeting Type: Annual Ticker: BAC

Primary ISIN: US0605051046 Primary SEDOL: 2295677

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Sharon L. Allen Mgmt For For

Page 45 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Bank of America Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

Voter Rationale: We are supporting the members of the governance committee with caution following the decision to recombine the roles of CEO and chair, thus reversing a binding shareholder proposal which had been supported by majority in 2009. The board argues that its decision is based on the company's improved performance since 2009 and that it is a recognition to the CEO's commendable contribution to the transformation of the business since the financial crisis. While we agree that the bank is in a better position now and that it has been dealing with most of its legacy issues fairly satisfactorily, we are concerned that this implies that the chairmanship is regarded as a promotion or a bargaining token and that the board feels that most of the bank’s problems are in the past and performance is back on track. We noted that we are not entirely in agreement with this given that although certain performance indicators have improved, there are other key metrics - such as return on equity and cost of litigation related to conduct issues - which require further significant improvement. The bank has acknowledged our concerns and we commended its decision to submit to a vote the recombination of the CEO and chair roles and to voluntarily adopt proxy access to demonstrate robust accountability to shareholders. We were also assured that the board is committed to working more closely with shareholders to mitigate the concerns around the recombination of the roles and to determine which is the best leadership structure for the bank. We will seek to meet with the lead director to assess whether in practice, the proposed recombined structure balanced with the enhanced lead director role is adequate and fitting with the bank’s performance.

1b Elect Director Susan S. Bies Mgmt For For

1c Elect Director Jack O. Bovender, Jr. Mgmt For For

1d Elect Director Frank P. Bramble, Sr. Mgmt For For

1e Elect Director Pierre J. P. de Weck Mgmt For For

1f Elect Director Arnold W. Donald Mgmt For For

1g Elect Director Charles K. Gifford Mgmt For For

1h Elect Director Linda P. Hudson Mgmt For For

1i Elect Director Monica C. Lozano Mgmt For For

Page 46 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Bank of America Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1j Elect Director Thomas J. May Mgmt For For

1k Elect Director Brian T. Moynihan Mgmt For For

1l Elect Director Lionel L. Nowell, III Mgmt For For

1m Elect Director R. David Yost Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation Voter Rationale: The company has overhauled its compensation structures and related disclosures and strengthened the link between pay and objective performance. Annual bonuses are subject to attaining net income performance targets and are paid in the form of cash-settled restricted stock units, although we note that disclosure regarding specific performance targets could be enhanced. The majority of equity awards are subject to meeting return on assets and growth in tangible book value performance conditions. In addition, the company discusses in detail how it takes into account other performance factors in line with its business strategy, including cost reduction (two billion dollars), improved capital liquidity, client satisfaction (new business, new referrals), growth in stock dividend and increased total shareholder return relative to peers. We nevertheless support the vote on pay with caution as we continue to have some concerns in relation to the rigor with which compensation accounts for other important factors, such as return on equity and cost of litigation related to conduct issues. We will continue to encourage the company to further strengthen the link between pay and performance.

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

4 Amend Omnibus Stock Plan Mgmt For For

Page 47 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Bank of America Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

5 Report on Climate Change Financing Risk SH Against Against

Voter Rationale: We commend the company for the recent enhancements to its sustainability policies and reporting, particularly the development of a coal policy that seeks to limit its exposure to fossil fuels financing and in line with its commitment towards a lower carbon economy. Through our engagement the company has demonstrated that is continues to work with the proponents of this resolution to implement further improvements and we recognise that although this is still work in progress, things are moving in the right direction. We will continue to monitor this as part of our engagement.

6 Report on Lobbying Payments and Policy SH Against Against

Voter Rationale: The bank has implemented notable changes to its lobbying policies and disclosures which inform how donations are governed and overseen by senior management and the board’s governance committee. The shareholder proposal requests specific disclosure regarding the company’s direct and indirect grassroots lobbying contributions, which the company argues it does not undertake. Although current disclosures do not provide information on expenditures as explicitly requested in the proposal, we believe the current policies and disclosures are overall adequate and the company’s commitment to continue working on further enhancements is commendable.

7 Provide Right to Act by Written Consent SH Against Against

Voter Rationale: The company’s current access provisions are adequate and therefore support for this proposal is not merited. Although the company’s current threshold to call special meetings could be reduced from the current 10% - five percent would be preferable – given its ownership structure, we believe that the recent voluntary decision to implement proxy access is commendable and mitigates the concerns raised in this proposal.

8 Establish Other Governance Board Committee SH Against Against

Voter Rationale: This proposal is overly prescriptive and the board is already substantially addressing most of the concerns raised in this resolution.

Baxter International Inc.

Meeting Date: 05/05/2015 Country: USA Meeting Type: Annual Ticker: BAX

Primary ISIN: US0718131099 Primary SEDOL: 2085102

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Uma Chowdhry Mgmt For For

1b Elect Director James R. Gavin, III Mgmt For Against

Voter Rationale:

Directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability. Furthermore, the board lacks both an independent chairman and a sufficiently independent lead director. At the very least, the nominating committee should appoint a fully independent lead director whose independence is not compromised.

1c Elect Director Peter S. Hellman Mgmt For For

1d Elect Director K. J. Storm Mgmt For For

Page 48 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Baxter International Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice for large companies. Also, plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay.

4 Approve Omnibus Stock Plan Mgmt For For

5 Pro-rata Vesting of Equity Awards SH Against For

Voter Rationale:

In the case of a change of control, equity should only vest if an executive is not offered employment in the new company, a so-called double trigger.

6 Require Independent Board Chairman SH Against For

Voter Rationale:

BB&T Corporation

Meeting Date: 04/28/2015 Country: USA Meeting Type: Annual Ticker: BBT

Primary ISIN: US0549371070 Primary SEDOL: 2830904

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Jennifer S. Banner Mgmt For For

1.2 Elect Director K. David Boyer, Jr. Mgmt For For

1.3 Elect Director Anna R. Cablik Mgmt For Against

Voter Rationale:

1.4 Elect Director Ronald E. Deal Mgmt For For

1.5 Elect Director James A. Faulkner Mgmt For Against

Voter Rationale:

Executives from acquired companies are not sufficiently independent to serve on key board committees and should be considered affiliated directors.

1.6 Elect Director I. Patricia Henry Mgmt For For

1.7 Elect Director John P. Howe, III Mgmt For For

Page 49 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

BB&T Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.8 Elect Director Eric C. Kendrick Mgmt For For

1.9 Elect Director Kelly S. King Mgmt For For

Voter Rationale:

1.10 Elect Director Louis B. Lynn Mgmt For For

1.11 Elect Director Edward C. Milligan Mgmt For Against

Voter Rationale:

Executives from acquired companies are not sufficiently independent to serve on key board committees and should be considered affiliated directors.

1.12 Elect Director Charles A. Patton Mgmt For For

1.13 Elect Director Nido R. Qubein Mgmt For For

1.14 Elect Director Tollie W. Rich, Jr. Mgmt For Against

Voter Rationale:

1.15 Elect Director Thomas E. Skains Mgmt For For

1.16 Elect Director Thomas N. Thompson Mgmt For For

1.17 Elect Director Edwin H. Welch Mgmt For For

1.18 Elect Director Stephen T. Williams Mgmt For For

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Report on Lobbying Payments and Political SH Against For Contributions Voter Rationale:

5 Claw-back of Payments under Restatements SH Against For

Voter Rationale:

Substantial restatements should trigger a reassessment and reclamation of performance-based compensation where this has been calculated on inaccurate figures. Also, the board should have the ability to "claw back" from executives that benefited from improper accounting, even if they were not directly responsible due to fraudulent activity or willful misconduct. The board should introduce options to recoup following major regulatory and other significant failings by senior management.

Page 50 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Berkshire Hathaway Inc.

Meeting Date: 05/02/2015 Country: USA Meeting Type: Annual Ticker: BRK.B

Primary ISIN: US0846707026 Primary SEDOL: 2073390

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Warren E. Buffett Mgmt For For

Voter Rationale:

1.2 Elect Director Charles T. Munger Mgmt For For

1.3 Elect Director Howard G. Buffett Mgmt For For

1.4 Elect Director Stephen B. Burke Mgmt For For

1.5 Elect Director Susan L. Decker Mgmt For For

1.6 Elect Director William H. Gates, III Mgmt For For

1.7 Elect Director David S. Gottesman Mgmt For For

1.8 Elect Director Charlotte Guyman Mgmt For For

1.9 Elect Director Thomas S. Murphy Mgmt For For

1.10 Elect Director Ronald L. Olson Mgmt For For

1.11 Elect Director Walter Scott, Jr. Mgmt For Withhold

Voter Rationale: We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders. Furthermore, the nominating committee should remove directors who have long board tenure from committees that require absolute independence. Moreover, the board lacks both an independent chairman and an appropriate independent lead director. At the very least, the nominating committee should appoint a fully independent lead director. Lastly, we are concerned about this director's independence, particularly as chair of the governance and the compensation committees, given his long tenure of 27 years.

1.12 Elect Director Meryl B. Witmer Mgmt For For

Best Buy Co., Inc.

Meeting Date: 06/09/2015 Country: USA Meeting Type: Annual Ticker: BBY

Primary ISIN: US0865161014 Primary SEDOL: 2094670

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Bradbury H. Anderson Mgmt For For

Page 51 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Best Buy Co., Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1b Elect Director Lisa M. Caputo Mgmt For For

1c Elect Director J. Patrick Doyle Mgmt For For

1d Elect Director Russell P. Fradin Mgmt For For

1e Elect Director Kathy J. Higgins Victor Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1f Elect Director Hubert Joly Mgmt For For

Voter Rationale:

1g Elect Director David W. Kenny Mgmt For For

1h Elect Director Thomas L. 'Tommy' Millner Mgmt For For

1i Elect Director Gerard R. Vittecoq Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Big Lots, Inc.

Meeting Date: 05/28/2015 Country: USA Meeting Type: Annual Ticker: BIG

Primary ISIN: US0893021032 Primary SEDOL: 2218447

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Jeffrey P. Berger Mgmt For For

Voter Rationale: While the profiles, skills and expertise of the newly elected directors are relevant and constitute good additions to the board, it is nevertheless concerning that the disclosure provided around the replacement of a significant proportion of the board is so opaque. We would encourage the board to provide better disclosure around significant governance changes such as this.

1.2 Elect Director David J. Campisi Mgmt For For

1.3 Elect Director James R. Chambers Mgmt For For

1.4 Elect Director Marla C. Gottschalk Mgmt For For

1.5 Elect Director Cynthia T. Jamison Mgmt For For

Page 52 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Big Lots, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.6 Elect Director Philip E. Mallott Mgmt For For

1.7 Elect Director Nancy A. Reardon Mgmt For For

1.8 Elect Director Wendy L. Schoppert Mgmt For For

1.9 Elect Director Russell E. Solt Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: Although certain positive changes have been introduced – including additional metrics and rigorous goals under the long-term incentive plan -, the contrary was observed with the short-term incentive plan. Goals under the bonus plan were set at lower targets and payouts for the CEO increased, effectively creating a pay-for-performance disconnect.

3 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

4 Provide Proxy Access Right Mgmt For For

Biogen Inc.

Meeting Date: 06/10/2015 Country: USA Meeting Type: Annual Ticker: BIIB

Primary ISIN: US09062X1037 Primary SEDOL: 2455965

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Alexander J. Denner Mgmt For For

Voter Rationale:

1.2 Elect Director Caroline D. Dorsa Mgmt For For

1.3 Elect Director Nancy L. Leaming Mgmt For For

1.4 Elect Director Richard C. Mulligan Mgmt For For

1.5 Elect Director Robert W. Pangia Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.6 Elect Director Stelios Papadopoulos Mgmt For For

1.7 Elect Director Brian S. Posner Mgmt For For

1.8 Elect Director Eric K. Rowinsky Mgmt For For

1.9 Elect Director George A. Scangos Mgmt For For

Page 53 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Biogen Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.10 Elect Director Lynn Schenk Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.11 Elect Director Stephen A. Sherwin Mgmt For For

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Approve Qualified Employee Stock Purchase Mgmt For For Plan

5 Amend Non-Employee Director Omnibus Stock Mgmt For For Plan

Boston Properties, Inc.

Meeting Date: 05/19/2015 Country: USA Meeting Type: Annual Ticker: BXP

Primary ISIN: US1011211018 Primary SEDOL: 2019479

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Carol B. Einiger Mgmt For For

1.2 Elect Director Jacob A. Frenkel Mgmt For Against

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board.

1.3 Elect Director Joel I. Klein Mgmt For For

1.4 Elect Director Douglas T. Linde Mgmt For For

1.5 Elect Director Matthew J. Lustig Mgmt For For

1.6 Elect Director Alan J. Patricof Mgmt For Against

Voter Rationale:

1.7 Elect Director Ivan G. Seidenberg Mgmt For For

1.8 Elect Director Owen D. Thomas Mgmt For For

Page 54 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Boston Properties, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.9 Elect Director Martin Turchin Mgmt For Against

Voter Rationale:

1.10 Elect Director David A. Twardock Mgmt For For

1.11 Elect Director Mortimer B. Zuckerman Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay. Furthermore, while the board has identified some performance conditions for the equity awards, the annual time frame is too short to be considered long-term. We prefer to see performance periods between three and five years.

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

4 Require Independent Board Chairman SH Against For

Voter Rationale:

5 Adopt Proxy Access Right SH Against For

Voter Rationale:

6 Limit Accelerated Vesting SH Against For

Voter Rationale:

In the case of a change of control, equity should only vest if an executive is not offered employment in the new company, a so-called double trigger.

Bristol-Myers Squibb Company

Meeting Date: 05/05/2015 Country: USA Meeting Type: Annual Ticker: BMY

Primary ISIN: US1101221083 Primary SEDOL: 2126335

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1A Elect Director Lamberto Andreotti Mgmt For For

1.1B Elect Director Giovanni Caforio Mgmt For For

1.1C Elect Director Lewis B. Campbell Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

Page 55 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Bristol-Myers Squibb Company

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1D Elect Director Laurie H. Glimcher Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.1E Elect Director Michael Grobstein Mgmt For For

1.1F Elect Director Alan J. Lacy Mgmt For For

1.1G Elect Director Thomas J. Lynch, Jr. Mgmt For For

1.1H Elect Director Dinesh C. Paliwal Mgmt For For

1.1I Elect Director Vicki L. Sato Mgmt For For

1.1J Elect Director Gerald L. Storch Mgmt For For

1.1K Elect Director Togo D. West, Jr. Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

4 Adopt the Jurisdiction of Incorporation as the Mgmt For Against Exclusive Forum for Certain Disputes Voter Rationale:

Measures that restrict investors' access to courts are not preferred practice and should be avoided.

5 Remove Supermajority Vote Requirement Mgmt For For Applicable to Preferred Stock Voter Rationale:

Board efforts to reduce supermajority provisions are appreciated, as they create artificial barriers for shareholders. Majority voting should be sufficient to change policies.

6 Provide Right to Act by Written Consent SH Against For

Voter Rationale:

Qualified investors should have the opportunity to put resolutions to all shareholders, either in a company meeting or by expressing their intentions through the mail. A total holding requirement of 5% is a suitable threshold to avoid abuse.

Broadcom Corporation

Meeting Date: 05/12/2015 Country: USA Meeting Type: Annual Ticker: BRCM

Primary ISIN: US1113201073 Primary SEDOL: 2235822

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Robert J. Finocchio, Jr. Mgmt For For

Page 56 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Broadcom Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1b Elect Director Nancy H. Handel Mgmt For For

1c Elect Director Eddy W. Hartenstein Mgmt For For

1d Elect Director Maria M. Klawe Mgmt For For

1e Elect Director John E. Major Mgmt For Against

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1f Elect Director Scott A. McGregor Mgmt For For

1g Elect Director William T. Morrow Mgmt For For

1h Elect Director Henry Samueli Mgmt For For

1i Elect Director Robert E. Switz Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

3 Ratify KPMG LLP as Auditors Mgmt For For

Brocade Communications Systems, Inc.

Meeting Date: 04/07/2015 Country: USA Meeting Type: Annual Ticker: BRCD

Primary ISIN: US1116213067 Primary SEDOL: 2422174

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Judy Bruner Mgmt For For

1.2 Elect Director Lloyd A. Carney Mgmt For For

1.3 Elect Director Renato A. DiPentima Mgmt For Against

1.4 Elect Director Alan L. Earhart Mgmt For For

1.5 Elect Director John W. Gerdelman Mgmt For For

Page 57 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Brocade Communications Systems, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.6 Elect Director Dave House Mgmt For Against

Voter Rationale: The corporate governance committee did not fully implement a proposal on special meetings that received majority support. The original proposal asked for a lower threshold which the board should introduce; 5-10% is sufficient to prevent abuse. Additionally, former employees or company founders are not sufficiently independent to serve on key board committees. Listing standard assumptions that independence can be restored after a five-year "cooling off" period are incorrect.

1.7 Elect Director L. William (Bill) Krause Mgmt For Against

1.8 Elect Director David E. Roberson Mgmt For For

1.9 Elect Director Sanjay Vaswani Mgmt For Against

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice. Moreover, while the board has identified some performance conditions for the equity awards, the annual time frame is too short to be considered long-term. We prefer to see performance periods between three and five years.

3 Amend Omnibus Stock Plan Mgmt For Against

Voter Rationale: The grant rate is too high, and may lead to excessive dilution.

4 Amend Non-Employee Director Omnibus Stock Mgmt For Against Plan Voter Rationale: The grant rate is too high, and may lead to excessive dilution.

5 Ratify KPMG LLP as Auditors Mgmt For For

6 Claw-back of Payments under Restatements SH Against For

Voter Rationale: Substantial restatements should trigger a reassessment and reclamation of performance-based compensation where this has been calculated on inaccurate figures. Also, the board should have the ability to "claw back" from executives that benefited from improper accounting, even if they were not directly responsible due to fraudulent activity or willful misconduct. The board should introduce options to recoup following major regulatory and other significant failings by senior management.

Bunge Limited

Meeting Date: 05/20/2015 Country: Bermuda Meeting Type: Annual Ticker: BG

Primary ISIN: BMG169621056 Primary SEDOL: 2788713

Page 58 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Bunge Limited

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Andrew Ferrier as Director Mgmt For Withhold

Voter Rationale:

1.2 Elect Kathleen Hyle as Director Mgmt For For

1.3 Elect John E. McGlade as Director Mgmt For For

2 Ratify Deloitte & Touche LLP s Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

4 Amend Executive Incentive Bonus Plan Mgmt For For

5 Adopt Goals to Reduce Deforestation in Supply SH Against For Chain Voter Rationale:

Setting specific deforestation goals is directly linked to the sustainability of the company's business in the long term.

Cabot Oil & Gas Corporation

Meeting Date: 04/23/2015 Country: USA Meeting Type: Annual Ticker: COG

Primary ISIN: US1270971039 Primary SEDOL: 2162340

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1a Elect Director Rhys J. Best Mgmt For For

1.1b Elect Director Dan O. Dinges Mgmt For For

Voter Rationale:

1.1c Elect Director James R. Gibbs Mgmt For For

1.1d Elect Director Robert L. Keiser Mgmt For For

1.1e Elect Director Robert Kelley Mgmt For For

1.1f Elect Director W. Matt Ralls Mgmt For For

Page 59 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Cabot Oil & Gas Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Report on Political Contributions Disclosure SH Against For

Voter Rationale:

5 Proxy Access SH Against For

Voter Rationale:

California Resources Corporation

Meeting Date: 05/07/2015 Country: USA Meeting Type: Annual Ticker: CRC

Primary ISIN: US13057Q1076 Primary SEDOL: BRJ3H52

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Justin A. Gannon Mgmt For For

1.2 Elect Director Avedick B. Poladian Mgmt For For

1.3 Elect Director Timothy J. Sloan Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

4 Advisory Vote on Say on Pay Frequency Mgmt One Year One Year

Page 60 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Calpine Corporation

Meeting Date: 05/13/2015 Country: USA Meeting Type: Annual Ticker: CPN

Primary ISIN: US1313473043 Primary SEDOL: B2NKK22

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Frank Cassidy Mgmt For For

1.2 Elect Director Jack A. Fusco Mgmt For For

1.3 Elect Director John B. (Thad) Hill, III Mgmt For For

1.4 Elect Director Michael W. Hofmann Mgmt For For

1.5 Elect Director David C. Merritt Mgmt For For

1.6 Elect Director W. Benjamin Moreland Mgmt For For

1.7 Elect Director Robert A. Mosbacher, Jr. Mgmt For For

1.8 Elect Director Denise M. O'Leary Mgmt For For

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Adopt Majority Voting for Uncontested Election Mgmt For For of Directors Voter Rationale:

The company's decision to introduce majority voting to elect directors is a good improvement. However, boards should adopt a truly binding standard so that shareholders make the ultimate decision about who will represent their interests.

5 Amend Omnibus Stock Plan Mgmt For For

Cameron International Corporation

Meeting Date: 05/08/2015 Country: USA Meeting Type: Annual Ticker: CAM

Primary ISIN: US13342B1052 Primary SEDOL: 2222233

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director H. Paulett Eberhart Mgmt For For

Page 61 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Cameron International Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.2 Elect Director Peter J. Fluor Mgmt For For

1.3 Elect Director Douglas L. Foshee Mgmt For For

1.4 Elect Director Rodolfo Landim Mgmt For For

1.5 Elect Director Jack B. Moore Mgmt For For

Voter Rationale:

1.6 Elect Director Michael E. Patrick Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.7 Elect Director Timothy J. Probert Mgmt For For

1.8 Elect Director Jon Erik Reinhardsen Mgmt For For

1.9 Elect Director R. Scott Rowe Mgmt For For

1.10 Elect Director Brent J. Smolik Mgmt For For

1.11 Elect Director Bruce W. Wilkinson Mgmt For Against

Voter Rationale:

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice for large companies. Furthermore, plans should not pay out for below-median performance. This undermines a pay-for-performance approach which should reward above-average performance. Such practices blunt the impact of variable pay.

Canadian Pacific Railway Limited

Meeting Date: 05/14/2015 Country: Canada Meeting Type: Annual/Special Ticker: CP

Primary ISIN: CA13645T1003 Primary SEDOL: 2793115

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1 Ratify Deloitte LLP as Auditors Mgmt For For

2 Advisory Vote on Executive Compensation Mgmt For For Approach

Page 62 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Canadian Pacific Railway Limited

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

3.1 Elect Director William A. Ackman Mgmt For For

3.2 Elect Director John Baird Mgmt For For

3.3 Elect Director Gary F. Colter Mgmt For For

3.4 Elect Director Isabelle Courville Mgmt For For

3.5 Elect Director Keith E. Creel Mgmt For For

3.6 Elect Director E. Hunter Harrison Mgmt For For

3.7 Elect Director Paul C. Hilal Mgmt For For

3.8 Elect Director Krystyna T. Hoeg Mgmt For For

3.9 Elect Director Rebecca MacDonald Mgmt For For

3.10 Elect Director Anthony R. Melman Mgmt For For

3.11 Elect Director Linda J. Morgan Mgmt For For

3.12 Elect Director Andrew F. Reardon Mgmt For For

3.13 Elect Director Stephen C. Tobias Mgmt For Withhold

Voter Rationale:

Former employees are not sufficiently independent to serve on key board committees. Listing standard assumptions that independence can be restored after a five-year "cooling off" period are incorrect.

4 Approve Advance Notice Policy Mgmt For For

5 Allow Meetings to be held at Such Place Within Mgmt For For Canada or the United States of America

Capital One Financial Corporation

Meeting Date: 04/30/2015 Country: USA Meeting Type: Annual Ticker: COF

Primary ISIN: US14040H1059 Primary SEDOL: 2654461

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1a Elect Director Richard D. Fairbank Mgmt For For

1.1b Elect Director Patrick W. Gross Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.1c Elect Director Ann Fritz Hackett Mgmt For For

Page 63 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Capital One Financial Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1d Elect Director Lewis Hay, III Mgmt For For

1.1e Elect Director Benjamin P. Jenkins, III Mgmt For For

1.1f Elect Director Pierre E. Leroy Mgmt For For

1.1g Elect Director Peter E. Raskind Mgmt For For

1.1h Elect Director Mayo A. Shattuck, III Mgmt For For

1.1i Elect Director Bradford H. Warner Mgmt For For

1.1j Elect Director Catherine G. West Mgmt For Against

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

4 Provide Right to Call Special Meeting Mgmt For For

Voter Rationale: The board is presented with an opportunity to endorse a shareholder proposal to call special meetings with a lower proposed threshold at this AGM. Instead, the board has proposed its own version of the resolution with a higher threshold, which we do not consider best practice. Nevertheless, as a precaution, we are supporting the board's resolution in case the shareholder proposal fails as this would still result in a reduction of the current threshold to all special meetings. We urge the board to consider the lower threshold proposed in the shareholder resolution as this would demonstrate that it is acting in the best interests of shareholders.

5 Amend Bylaws-- Call Special Meetings SH Against For

Voter Rationale: Holders of a significant proportion of company stock should have the right to call special meetings. This shareholder resolution proposes a lower threshold to call special meetings than the one proposed by the board in its competing resolution. We urge the board to adopt resolutions that are in the best interests of the company's shareholders.

Catamaran Corporation

Meeting Date: 05/12/2015 Country: Canada Meeting Type: Annual/Special Ticker: CTRX

Primary ISIN: CA1488871023 Primary SEDOL: B3N9ZT8

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Mark A. Thierer Mgmt For For

Voter Rationale:

Page 64 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Catamaran Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.2 Elect Director Peter J. Bensen Mgmt For For

1.3 Elect Director Steven D. Cosler Mgmt For For

1.4 Elect Director William J. Davis Mgmt For For

1.5 Elect Director Steven B. Epstein Mgmt For For

1.6 Elect Director Betsy D. Holden Mgmt For For

1.7 Elect Director Karen L. Katen Mgmt For For

1.8 Elect Director Harry M. Kraemer Mgmt For For

1.9 Elect Director Anthony Masso Mgmt For For

2 Approve Advance Notice Policy Mgmt For Against

Voter Rationale:

The board's decision to adopt an advance notice policy restrics the right of shareholders to nominate board directors. At a minimum such a policy should be brought before shareholders for a vote.

3 Advisory Vote on Executive Compensation Mgmt For Against Approach Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

4 Approve KPMG LLP as Auditors and Authorize Mgmt For For Board to Fix Their Remuneration

Caterpillar Inc.

Meeting Date: 06/10/2015 Country: USA Meeting Type: Annual Ticker: CAT

Primary ISIN: US1491231015 Primary SEDOL: 2180201

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director David L. Calhoun Mgmt For For

1.2 Elect Director Daniel M. Dickinson Mgmt For For

1.3 Elect Director Juan Gallardo Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence. Furthermore, this director's commitments, as a top officer and director at more than two public companies, are excessive and likely to jeopardize the ability to provide appropriate oversight on all boards. CEOs and CFOs make valuable board members but also face tremendous demands on their time.

1.4 Elect Director Jesse J. Greene, Jr. Mgmt For For

1.5 Elect Director Jon M. Huntsman, Jr. Mgmt For For

1.6 Elect Director Dennis A. Muilenburg Mgmt For For

Page 65 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Caterpillar Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.7 Elect Director Douglas R. Oberhelman Mgmt For For

1.8 Elect Director William A. Osborn Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.9 Elect Director Debra L. Reed Mgmt For Against

1.10 Elect Director Edward B. Rust, Jr. Mgmt For For

1.11 Elect Director Susan C. Schwab Mgmt For For

1.12 Elect Director Miles D. White Mgmt For Against

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: The plan's structure and pay-for-performance results are not sufficiently strong. Good practices include: well disclosed and stretching performance targets; performance triggers for equity awards; using different metrics for the short and long-term plans; measuring company outcomes against its appropriate peer group; and setting awards so that executives are not rewarded for below-average performance. These and other approaches will ensure that the compensation committee designs compensation packages that build shareholder value over time.

4 Require Independent Board Chairman SH Against For

Voter Rationale: Appointing a fully independent chairman creates a balance of power that is more conducive to long-term performance. A board headed by management cannot reasonably provide the best oversight and evaluation of management's performance.

5 Provide Right to Act by Written Consent SH Against For

Voter Rationale: Qualified investors should have the opportunity to put resolutions to all shareholders, either in a company meeting or by expressing their intentions through the mail. A total holding requirement of 5% is a suitable threshold to avoid abuse.

6 Review and Amend Human Rights Policies SH Against For

Voter Rationale: The company faces risks related to human rights. Good practice includes developing a clear code of practice, along with monitoring and effective disclosure to ensure that those risks are managed effectively.

7 Amend Policies to Allow Employees to SH Against Against Participate in Political Process with No Retribution Voter Rationale: The company's existing policies and practices satisfactorily address the issues raised in this proposal.

Page 66 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

CBL & Associates Properties, Inc.

Meeting Date: 05/04/2015 Country: USA Meeting Type: Annual Ticker: CBL

Primary ISIN: US1248301004 Primary SEDOL: 2167475

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Charles B. Lebovitz Mgmt For For

1.2 Elect Director Stephen D. Lebovitz Mgmt For For

1.3 Elect Director Gary L. Bryenton Mgmt For Withhold

Voter Rationale:

1.4 Elect Director A. Larry Chapman Mgmt For Withhold

Voter Rationale:

Hedging of company stock by executives should be prohibited as it potentially severs management alignment with shareholder interest.

1.5 Elect Director Matthew S. Dominski Mgmt For Withhold

Voter Rationale:

Hedging of company stock by executives should be prohibited as it potentially severs management alignment with shareholder interest.

1.6 Elect Director John D. Griffith Mgmt For For

1.7 Elect Director Gary J. Nay Mgmt For Withhold

Voter Rationale:

Hedging of company stock by executives should be prohibited as it potentially severs management alignment with shareholder interest.

1.8 Elect Director Kathleen M. Nelson Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

4 Proxy Access SH Against For

Voter Rationale:

CBOE Holdings, Inc.

Meeting Date: 05/21/2015 Country: USA Meeting Type: Annual Ticker: CBOE

Primary ISIN: US12503M1080 Primary SEDOL: B5834C5

Page 67 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

CBOE Holdings, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director William J. Brodsky Mgmt For For

1.2 Elect Director James R. Boris Mgmt For For

1.3 Elect Director Frank E. English, Jr. Mgmt For For

1.4 Elect Director Edward J. Fitzpatrick Mgmt For For

1.5 Elect Director Janet P. Froetscher Mgmt For For

1.6 Elect Director Jill R. Goodman Mgmt For For

1.7 Elect Director R. Eden Martin Mgmt For Against

1.8 Elect Director Roderick A. Palmore Mgmt For Against

1.9 Elect Director Susan M. Phillips Mgmt For Against

1.10 Elect Director Samuel K. Skinner Mgmt For For

1.11 Elect Director Carole E. Stone Mgmt For For

1.12 Elect Director Eugene S. Sunshine Mgmt For Against

Voter Rationale: Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board.

1.13 Elect Director Edward T. Tilly Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice. Furthermore, plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay.

3 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

4 Remove the Size Range for the Board Mgmt For Against

Voter Rationale: For maximum effectiveness a board should include between 5 and 15 directors.

5 Amend Certificate of Incorporation to Make Mgmt For For Non-Substantive Changes

Page 68 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

CBRE Group, Inc.

Meeting Date: 05/15/2015 Country: USA Meeting Type: Annual Ticker: CBG

Primary ISIN: US12504L1098 Primary SEDOL: B6WVMH3

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Richard C. Blum Mgmt For Withhold

Voter Rationale:

1.2 Elect Director Brandon B. Boze Mgmt For For

1.3 Elect Director Curtis F. Feeny Mgmt For For

1.4 Elect Director Bradford M. Freeman Mgmt For Withhold

Voter Rationale:

1.5 Elect Director Michael Kantor Mgmt For For

1.6 Elect Director Frederic V. Malek Mgmt For Withhold

Voter Rationale:

1.7 Elect Director Robert E. Sulentic Mgmt For For

1.8 Elect Director Laura D. Tyson Mgmt For For

1.9 Elect Director Gary L. Wilson Mgmt For Withhold

Voter Rationale:

1.10 Elect Director Ray Wirta Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Amend Executive Incentive Bonus Plan Mgmt For For

Page 69 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

CDW Corporation

Meeting Date: 05/13/2015 Country: USA Meeting Type: Annual Ticker: CDW

Primary ISIN: US12514G1085 Primary SEDOL: BBM5MD6

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director James A. Bell Mgmt For For

1.2 Elect Director Benjamin D. Chereskin Mgmt For Withhold

Voter Rationale:

1.3 Elect Director Glenn M. Creamer Mgmt For For

1.4 Elect Director Paul J. Finnegan Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

Celanese Corporation

Meeting Date: 04/23/2015 Country: USA Meeting Type: Annual Ticker: CE

Primary ISIN: US1508701034 Primary SEDOL: B05MZT4

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director James E. Barlett Mgmt For For

1b Elect Director Edward G. Galante Mgmt For For

1c Elect Director David F. Hoffmeister Mgmt For Against

Voter Rationale: Directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability. Furthermore, the board imposed a forum selection clause without prior shareholder approval. The corporate governance committee should oppose measures that restrict investors' access to courts, and reverse the measure or, at the very least, put the matter to an investor vote.

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Ratify KPMG LLP as Auditors Mgmt For For

Page 70 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Celgene Corporation

Meeting Date: 06/17/2015 Country: USA Meeting Type: Annual Ticker: CELG

Primary ISIN: US1510201049 Primary SEDOL: 2182348

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Robert J. Hugin Mgmt For For

Voter Rationale:

1.2 Elect Director Richard W. Barker Mgmt For For

1.3 Elect Director Michael W. Bonney Mgmt For For

1.4 Elect Director Michael D. Casey Mgmt For For

1.5 Elect Director Carrie S. Cox Mgmt For For

1.6 Elect Director Michael A. Friedman Mgmt For For

1.7 Elect Director Gilla Kaplan Mgmt For Withhold

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.8 Elect Director James J. Loughlin Mgmt For For

1.9 Elect Director Ernest Mario Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

Voter Rationale:

3 Amend Omnibus Stock Plan Mgmt For Against

Voter Rationale:

The total cost of the equity plan is excessive. Furthermore, the grant rate is too high, and may lead to excessive dilution.

4 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay. Furthermore, a larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

5 Report on Specialty Drug Pricing Risks SH Against Abstain

Voter Rationale:

Although we support the enhanced transparency and disclosure promoted by this resolution, we find the proposed implementation overly prescriptive.

Page 71 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

CenturyLink, Inc.

Meeting Date: 05/20/2015 Country: USA Meeting Type: Annual Ticker: CTL

Primary ISIN: US1567001060 Primary SEDOL: 2185046

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Virginia Boulet Mgmt For Withhold

Voter Rationale:

1.2 Elect Director Peter C. Brown Mgmt For For

1.3 Elect Director Richard A. Gephardt Mgmt For For

1.4 Elect Director W. Bruce Hanks Mgmt For Withhold

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee should take action to ensure an appropriately fresh board and reduce the proportion of long standing directors to reduce the risk of entrenchment. Furthermore, former employees or company founders are not sufficiently independent to serve on key board committees. Listing standard assumptions that independence can be restored after a five-year "cooling off" period are incorrect.

1.5 Elect Director Gregory J. McCray Mgmt For For

1.6 Elect Director C.G. Melville, Jr. Mgmt For Withhold

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee should take action to ensure an appropriately fresh board and reduce the proportion of long standing directors to reduce the risk of entrenchment. Furthermore, executives from acquired companies are not sufficiently independent to serve on key board committees and should be considered affiliated directors.

1.7 Elect Director William A. Owens Mgmt For For

1.8 Elect Director Harvey P. Perry Mgmt For Withhold

Voter Rationale:

1.9 Elect Director Glen F. Post, III Mgmt For For

1.10 Elect Director Michael J. Roberts Mgmt For For

1.11 Elect Director Laurie A. Siegel Mgmt For For

1.12 Elect Director Joseph R. Zimmel Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

Voter Rationale:

3 Approve Executive Incentive Bonus Plan Mgmt For For

Page 72 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

CenturyLink, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

4 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

5 Stock Retention/Holding Period SH Against For

Voter Rationale:

CF Industries Holdings, Inc.

Meeting Date: 05/15/2015 Country: USA Meeting Type: Annual Ticker: CF

Primary ISIN: US1252691001 Primary SEDOL: B0G4K50

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1 Elect Director Robert C. Arzbaecher Mgmt For For

2 Elect Director William Davisson Mgmt For For

3 Elect Director Stephen A. Furbacher Mgmt For For

4 Elect Director Stephen J. Hagge Mgmt For For

5 Elect Director John D. Johnson Mgmt For For

6 Elect Director Robert G. Kuhbach Mgmt For For

7 Elect Director Edward A. Schmitt Mgmt For For

8 Elect Director Theresa E. Wagler Mgmt For For

9 Elect Director W. Anthony Will Mgmt For For

10 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

11 Ratify KPMG LLP as Auditors Mgmt For For

12 Proxy Access SH Against For

Voter Rationale:

Page 73 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

CF Industries Holdings, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

13 Provide Right to Act by Written Consent SH Against For

Voter Rationale:

Charter Communications, Inc.

Meeting Date: 04/28/2015 Country: USA Meeting Type: Annual Ticker: CHTR

Primary ISIN: US16117M3051 Primary SEDOL: B4XT1S6

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director W. Lance Conn Mgmt For Withhold

Voter Rationale:

1.2 Elect Director Michael P. Huseby Mgmt For For

1.3 Elect Director Craig A. Jacobson Mgmt For For

1.4 Elect Director Gregory B. Maffei Mgmt For Withhold

Voter Rationale:

1.5 Elect Director John C. Malone Mgmt For Withhold

Voter Rationale:

1.6 Elect Director John D. Markley, Jr. Mgmt For For

1.7 Elect Director David C. Merritt Mgmt For For

1.8 Elect Director Balan Nair Mgmt For Withhold

Voter Rationale:

Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.

1.9 Elect Director Thomas M. Rutledge Mgmt For For

1.10 Elect Director Eric L. Zinterhofer Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

Page 74 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Chevron Corporation

Meeting Date: 05/27/2015 Country: USA Meeting Type: Annual Ticker: CVX

Primary ISIN: US1667641005 Primary SEDOL: 2838555

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Alexander B. Cummings, Jr. Mgmt For For

1b Elect Director Linnet F. Deily Mgmt For For

1c Elect Director Robert E. Denham Mgmt For For

1d Elect Director Alice P. Gast Mgmt For For

1e Elect Director Enrique Hernandez, Jr. Mgmt For For

1f Elect Director Jon M. Huntsman, Jr. Mgmt For For

1g Elect Director Charles W. Moorman, IV Mgmt For For

1h Elect Director John G. Stumpf Mgmt For For

1i Elect Director Ronald D. Sugar Mgmt For For

1j Elect Director Inge G. Thulin Mgmt For For

1k Elect Director Carl Ware Mgmt For For

Voter Rationale: While we have concerns with this director's long tenure, particularly given his presence in the compensation committee, we acknowledge that there has been some board refreshment over the past three years and expect that our concerns will be address as this refreshment process continues.

1l Elect Director John S. Watson Mgmt For For

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: As noted in previous years, the company's pay is largely discretionary and there is limited discussion of how it is linked to specific performance conditions, particularly to metrics related to environmental and social performance.

4 Report on Charitable Contributions SH Against Against

5 Report on Lobbying Payments and Policy SH Against For

Page 75 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Chevron Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

6 Prohibit Political Spending SH Against Abstain

Voter Rationale: Globally, donations to political parties, candidates and tax-exempt political organizations should be avoided, this is a widespread practice in the US and may be difficult to discontinue without incurring commercial disadvantage. However, the company should adopt the highest levels of political and lobbying transparency. Adopting political accountability mechanisms, such as submitting the company's entire political donations budget to a shareholder vote, is a standard practice in the UK and should be considered.

7 Increase Return of Capital to Shareholders in SH Against Abstain Light of Climate Change Risks Voter Rationale: While we consider the proposal's request for increased returns of capital overly prescriptive, we encourage the company - and others in the sector - to develop a clear strategy around the risks arising from potential structural changes in the world's energy markets, and to explain how this strategy is reflected in its investment decisions from now onwards. We particularly urge the company to provide greater clarity on how it is ensuring that its business models remains resilient to scenarios of a more rapid decarbonisation of the economy. We also encourage more explicit involvement in supporting climate policy frameworks aimed at limiting global warming to sustainable levels. Finally, we expect the company to set and make public operational carbon reduction targets for its different business units.

8 Adopt Quantitative GHG Goals for Products and SH Against For Operations Voter Rationale: We voted for this proposal because climate change presents ongoing and serious risks to shareholder value and there is room for the company to improve its commitments and transparency. We understand the company has set some targets for energy efficiency and flaring reduction and has made progress against these targets. While these are important, the company should take a more comprehensive approach to GHG emissions across the business particularly as it relies increasingly on unconventional sources that require more energy to produce. In the absence of a viable price for carbon, setting a greenhouse gas reduction target would demonstrate a stronger strategy for operating in carbon-constrained markets.

9 Report on the Result of Efforts to Minimize SH Against For Hydraulic Fracturing Impacts Voter Rationale: The company should report on possible risks and opportunities arising from processes used to extract natural gas from shale. There are concerns that serious environmental and public health risks have not been addressed thoroughly and may be subject to more stringent regulation in future.

10 Proxy Access SH Against For

11 Require Independent Board Chairman SH Against For

12 Require Director Nominee with Environmental SH Against Abstain Experience Voter Rationale: We share the proponents concern that expertise in environmental matters related to oil and gas exploration and production could be better represented on the board. However, we recognise the recent board refreshment and find that certain skills of the recently appointed directors address some of the concerns raised in this proposal. We will nevertheless continue to encourage the company to enhance the board's expertise on environmental matters.

13 Amend Bylaws -- Call Special Meetings SH Against For

Voter Rationale: Holders of significant share capital should be entitled to call a special meeting. A total holding requirement of 5% is a suitable threshold to prevent abuse.

Page 76 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Cigna Corporation

Meeting Date: 04/22/2015 Country: USA Meeting Type: Annual Ticker: CI

Primary ISIN: US1255091092 Primary SEDOL: 2196479

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director John M. Partridge Mgmt For For

1.2 Elect Director James E. Rogers Mgmt For For

1.3 Elect Director Eric C. Wiseman Mgmt For Against

Voter Rationale:

Directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability. Furthermore, this director's commitments, as a top officer and director at more than two public companies, are excessive and likely to jeopardize the ability to provide appropriate oversight on all boards. CEOs and CFOs make valuable board members but also face tremendous demands on their time.

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale:

CIT Group Inc.

Meeting Date: 05/12/2015 Country: USA Meeting Type: Annual Ticker: CIT

Primary ISIN: US1255818015 Primary SEDOL: B4Z73G0

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director John A. Thain Mgmt For For

Voter Rationale:

1b Elect Director Ellen R. Alemany Mgmt For For

1c Elect Director Michael J. Embler Mgmt For For

1d Elect Director William M. Freeman Mgmt For For

1e Elect Director David M. Moffett Mgmt For For

Page 77 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

CIT Group Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1f Elect Director R. Brad Oates Mgmt For For

1g Elect Director Marianne Miller Parrs Mgmt For For

1h Elect Director Gerald Rosenfeld Mgmt For For

1i Elect Director John R. Ryan Mgmt For Against

Voter Rationale:

The board imposed a forum selection clause without prior shareholder approval. The corporate governance committee should oppose measures that restrict investors' access to courts, and reverse the measure or, at the very least, put the matter to an investor vote.

1j Elect Director Sheila A. Stamps Mgmt For For

1k Elect Director Seymour Sternberg Mgmt For For

1l Elect Director Peter J. Tobin Mgmt For For

1m Elect Director Laura S. Unger Mgmt For For

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

4 Approve Executive Incentive Bonus Plan Mgmt For For

Citigroup Inc.

Meeting Date: 04/28/2015 Country: USA Meeting Type: Annual Ticker: C

Primary ISIN: US1729674242 Primary SEDOL: 2297907

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Michael L. Corbat Mgmt For For

1b Elect Director Duncan P. Hennes Mgmt For For

1c Elect Director Peter B. Henry Mgmt For For

1d Elect Director Franz B. Humer Mgmt For For

1e Elect Director Michael E. O'Neill Mgmt For For

1f Elect Director Gary M. Reiner Mgmt For For

1g Elect Director Judith Rodin Mgmt For For

1h Elect Director Anthony M. Santomero Mgmt For For

1i Elect Director Joan E. Spero Mgmt For For

Page 78 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Citigroup Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1j Elect Director Diana L. Taylor Mgmt For For

1k Elect Director William S. Thompson, Jr. Mgmt For For

1l Elect Director James S. Turley Mgmt For For

1m Elect Director Ernesto Zedillo Ponce de Leon Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation Voter Rationale: The company has been enhancing its compensation structures and strengthening the link between pay and performance for the past few years. As a result, Citi’s current compensation practices are more robust than those of its US peers in several aspects. All of the executives’ variable compensation is tied to objective performance criteria, including metrics that are directly linked to the company’s financial and operational performance and also to other important areas such as risk management and conduct. Also importantly, the compensation committee clearly articulates how pay is directly linked to the firm’s strategic objectives such as the successful disposal of non-core and risk-weighted assets, which in turn has led to the company’s improved performance. Moreover, Citi’s compensation disclosures also are superior to its US peers’ in outlining how the compensation committee exercises its discretion to adjust awards (negatively) to account for things such as the results of the stress tests and the impact of bribery and corruptions issues of its Mexican subsidiary. In previous years we have recognised Citi’s improvements to its pay plans but have been unable to vote in support their compensation resolutions as we had concerns regarding how stretching the performance objectives were. This year, however, in addition to a number of enhancements to the company’s pay disclosures, Citi has also implemented more stretching performance targets. We are therefore willing to support the vote on compensation but will continue to monitor this closely and will continue to discuss this regularly as part of our ongoing engagement with the company.

4 Amend Omnibus Stock Plan Mgmt For For

5 Adopt Proxy Access Right SH For For

Voter Rationale: We commend the board for supporting this resolution seeking to implement proxy access. Such practice encourages greater accountability of directors to the shareholders whose interests they represent. Similar proxy access provisions in other developed markets have not lead to problematic elections, as some companies fear.

6 Report on Lobbying Payments and Policy SH Against For

7 Claw-back of Payments under Restatements SH Against Against

Voter Rationale: This proposal is overly prescriptive. The company's existing clawback is sufficiently robust and covers a wider range of issues for which compensation can be recouped compared to the limited specific issues proposed in this resolution.

8 Limits for Directors Involved with Bankruptcy SH Against Against

Voter Rationale: The proposal is overly prescriptive. Directors' backgrounds and skill sets should be thoroughly assessed as part of the company's board selection and nomination process and we believe that the company's current approach accomplishes this.

Page 79 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Citigroup Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

9 Report on Certain Vesting Program SH Against For

Voter Rationale: We are supportive of the spirit of this resolution which seeks enhanced disclosure of certain vesting arrangements and the potential conflicts of interest that these arrangements may create. However, we are supporting it with certain reservations as we believe that in its current form, the proposal is overly prescriptive and focuses on a rather specific type of vesting arrangements - i.e those relating to employees retiring to enter government service. We will encourage the company to enhance its disclosures on all special vesting arrangements - not only restricted to employees retiring to enter government service - and how any potential risks regarding conflicts of interest are mitigated.

Citrix Systems, Inc.

Meeting Date: 05/28/2015 Country: USA Meeting Type: Annual Ticker: CTXS

Primary ISIN: US1773761002 Primary SEDOL: 2182553

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Thomas F. Bogan Mgmt For For

1b Elect Director Robert M. Calderoni Mgmt For For

1c Elect Director Nanci E. Caldwell Mgmt For For

1d Elect Director Robert D. Daleo Mgmt For For

1e Elect Director Murray J. Demo Mgmt For For

1f Elect Director Francis deSouza Mgmt For For

1g Elect Director Asiff S. Hirji Mgmt For For

2 Approve Qualified Employee Stock Purchase Mgmt For For Plan

3 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

4 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice. Furthermore, Plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay.

Page 80 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION

Meeting Date: 06/02/2015 Country: USA Meeting Type: Annual Ticker: CTSH

Primary ISIN: US1924461023 Primary SEDOL: 2257019

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Michael Patsalos-Fox Mgmt For For

1b Elect Director Robert E. Weissman Mgmt For Against

Voter Rationale:

1c Elect Director Francisco D'Souza Mgmt For For

1d Elect Director John N. Fox, Jr. Mgmt For For

1e Elect Director Leo S. Mackay, Jr. Mgmt For For

1f Elect Director Thomas M. Wendel Mgmt For Against

Voter Rationale:

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

4 Provide Right to Act by Written Consent SH Against For

Voter Rationale:

Colfax Corporation

Meeting Date: 05/13/2015 Country: USA Meeting Type: Annual Ticker: CFX

Primary ISIN: US1940141062 Primary SEDOL: B2RB4W9

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Mitchell P. Rales Mgmt For For

1b Elect Director Steven E. Simms Mgmt For For

Page 81 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Colfax Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1c Elect Director Clay H. Kiefaber Mgmt For For

1d Elect Director Patrick W. Allender Mgmt For For

1e Elect Director Thomas S. Gayner Mgmt For For

1f Elect Director Rhonda L. Jordan Mgmt For For

1g Elect Director San W. Orr, III Mgmt For For

1h Elect Director Clayton Perfall Mgmt For For

1i Elect Director Rajiv Vinnakota Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

Comcast Corporation

Meeting Date: 05/21/2015 Country: USA Meeting Type: Annual Ticker: CMCSA

Primary ISIN: US20030N1019 Primary SEDOL: 2044545

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Kenneth J. Bacon Mgmt For For

1.2 Elect Director Sheldon M. Bonovitz Mgmt For For

1.3 Elect Director Edward D. Breen Mgmt For For

1.4 Elect Director Joseph J. Collins Mgmt For Withhold

Voter Rationale: We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1.5 Elect Director J. Michael Cook Mgmt For For

1.6 Elect Director Gerald L. Hassell Mgmt For For

1.7 Elect Director Jeffrey A. Honickman Mgmt For For

1.8 Elect Director Eduardo G. Mestre Mgmt For For

1.9 Elect Director Brian L. Roberts Mgmt For For

1.10 Elect Director Ralph J. Roberts Mgmt For For

1.11 Elect Director Johnathan A. Rodgers Mgmt For For

1.12 Elect Director Judith Rodin Mgmt For For

Page 82 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Comcast Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

3 Amend Executive Incentive Bonus Plan Mgmt For For

4 Report on Lobbying Payments and Policy SH Against For

5 Pro-rata Vesting of Equity Awards SH Against For

Voter Rationale: In the case of a change of control, equity should only vest if an executive is not offered employment in the new company, a so-called double trigger.

6 Approve Recapitalization Plan for all Stock to SH Against For Have One-vote per Share Voter Rationale: "One share, one vote" is a fundamental element of good corporate governance. Companies should not create shares with impaired or enhanced voting rights.

ConocoPhillips

Meeting Date: 05/12/2015 Country: USA Meeting Type: Annual Ticker: COP

Primary ISIN: US20825C1045 Primary SEDOL: 2685717

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Richard L. Armitage Mgmt For For

1b Elect Director Richard H. Auchinleck Mgmt For Against

Voter Rationale:

Executives from acquired companies are not sufficiently independent to serve on key board committees and should be considered affiliated directors.

1c Elect Director Charles E. Bunch Mgmt For Against

Voter Rationale:

1d Elect Director James E. Copeland, Jr. Mgmt For For

1e Elect Director John V. Faraci Mgmt For For

1f Elect Director Jody L. Freeman Mgmt For For

1g Elect Director Gay Huey Evans Mgmt For For

Page 83 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

ConocoPhillips

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1h Elect Director Ryan M. Lance Mgmt For For

Voter Rationale:

1i Elect Director Arjun N. Murti Mgmt For For

1j Elect Director Robert A. Niblock Mgmt For For

1k Elect Director Harald J. Norvik Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

4 Report on Lobbying Payments and Policy SH Against For

Voter Rationale:

5 Pro-rata Vesting of Equity Plan SH Against For

Voter Rationale:

In the case of a change of control, equity should only vest if an executive is not offered employment in the new company, a so-called double trigger.

6 Remove or Adjust Reserve Metrics used for SH Against For Executive Compensation Voter Rationale:

Social and environmental issues can affect long-term shareholder value and should be included where relevant in evaluations and compensation.

7 Adopt Proxy Access Right SH Against For

Voter Rationale:

Convergys Corporation

Meeting Date: 04/22/2015 Country: USA Meeting Type: Annual Ticker: CVG

Primary ISIN: US2124851062 Primary SEDOL: 2284761

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Andrea J. Ayers Mgmt For For

1.2 Elect Director John F. Barrett Mgmt For Withhold

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

Page 84 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Convergys Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.3 Elect Director Cheryl K. Beebe Mgmt For For

1.4 Elect Director Richard R. Devenuti Mgmt For For

1.5 Elect Director Jeffrey H. Fox Mgmt For For

1.6 Elect Director Joseph E. Gibbs Mgmt For Withhold

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.7 Elect Director Joan E. Herman Mgmt For For

1.8 Elect Director Thomas L. Monahan, III Mgmt For For

1.9 Elect Director Ronald L. Nelson Mgmt For Withhold

1.10 Elect Director Richard F. Wallman Mgmt For For

2 Ratify Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

Con-way Inc.

Meeting Date: 05/12/2015 Country: USA Meeting Type: Annual Ticker: CNW

Primary ISIN: US2059441012 Primary SEDOL: 2217228

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director W. Keith Kennedy, Jr. Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence. Furthermore, former employees or company founders are not sufficiently independent to serve on key board committees. Listing standard assumptions that independence can be restored after a five-year "cooling off" period are incorrect.

1.2 Elect Director Michael J. Murray Mgmt For Against

Voter Rationale:

1.3 Elect Director Edith R. Perez Mgmt For For

1.4 Elect Director P. Cody Phipps Mgmt For For

1.5 Elect Director John C. Pope Mgmt For For

Page 85 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Con-way Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.6 Elect Director William J. Schroeder Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.7 Elect Director Wayne R. Shurts Mgmt For For

1.8 Elect Director Douglas W. Stotlar Mgmt For For

1.9 Elect Director Peter W. Stott Mgmt For For

1.10 Elect Director Roy W. Templin Mgmt For For

1.11 Elect Director Chelsea C. White, III Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Ratify KPMG LLP as Auditors Mgmt For For

4 Provide Right to Act by Written Consent SH Against For

Voter Rationale:

5 Pro-rata Vesting of Equity Awards SH Against For

Voter Rationale:

In the case of a change of control, equity should only vest if an executive is not offered employment in the new company, a so-called double trigger.

CoreLogic, Inc.

Meeting Date: 04/28/2015 Country: USA Meeting Type: Annual Ticker: CLGX

Primary ISIN: US21871D1037 Primary SEDOL: B5541Y2

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director J. David Chatham Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.2 Elect Director Douglas C. Curling Mgmt For For

1.3 Elect Director John C. Dorman Mgmt For For

1.4 Elect Director Paul F. Folino Mgmt For For

1.5 Elect Director Anand Nallathambi Mgmt For For

1.6 Elect Director Thomas C. O'Brien Mgmt For For

1.7 Elect Director Jaynie Miller Studenmund Mgmt For For

Page 86 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

CoreLogic, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.8 Elect Director David F. Walker Mgmt For For

1.9 Elect Director Mary Lee Widener Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

Corning Incorporated

Meeting Date: 04/30/2015 Country: USA Meeting Type: Annual Ticker: GLW

Primary ISIN: US2193501051 Primary SEDOL: 2224701

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Donald W. Blair Mgmt For For

1.2 Elect Director Stephanie A. Burns Mgmt For Against

Voter Rationale: Former employees are not sufficiently independent to serve on key board committees. Listing standard assumptions that independence can be restored after a five-year "cooling off" period are incorrect. Furthermore, the audit committee should be fully independent and this director's membership could hamper the committee's impartiality and effectiveness.

1.3 Elect Director John A. Canning, Jr. Mgmt For For

1.4 Elect Director Richard T. Clark Mgmt For For

1.5 Elect Director Robert F. Cummings, Jr. Mgmt For Against

Voter Rationale: Directors with significant business ties to the company are not sufficiently independent to serve on key committees.

1.6 Elect Director James B. Flaws Mgmt For For

1.7 Elect Director Deborah A. Henretta Mgmt For For

1.8 Elect Director Daniel P. Huttenlocher Mgmt For For

1.9 Elect Director Kurt M. Landgraf Mgmt For For

1.10 Elect Director Kevin J. Martin Mgmt For For

1.11 Elect Director Deborah D. Rieman Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

Page 87 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Corning Incorporated

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.12 Elect Director Hansel E. Tookes II Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.13 Elect Director Wendell P. Weeks Mgmt For For

1.14 Elect Director Mark S. Wrighton Mgmt For For

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

4 Adopt Holy Land Principles SH Against Abstain

Voter Rationale: The proposal is overly prescriptive. We encourage companies to employ fair employment practices through the implementation and enforcement of robust equal opportunity employment policies.

Crown Castle International Corp.

Meeting Date: 05/29/2015 Country: USA Meeting Type: Annual Ticker: CCI

Primary ISIN: US22822V1017 Primary SEDOL: BTGQCX1

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director P. Robert Bartolo Mgmt For For

1b Elect Director Cindy Christy Mgmt For Against

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board.

1c Elect Director Ari Q. Fitzgerald Mgmt For For

1d Elect Director Robert E. Garrison, II Mgmt For For

1e Elect Director Dale N. Hatfield Mgmt For Against

Voter Rationale:

Page 88 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Crown Castle International Corp.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1f Elect Director Lee W. Hogan Mgmt For Against

Voter Rationale:

1g Elect Director John P. Kelly Mgmt For Against

Voter Rationale:

1h Elect Director Robert F. McKenzie Mgmt For Against

Voter Rationale:

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Plans should not pay out for below-median performance relative to peers. The long-term incentive plan pays awards in full when performance is at the 55th percentile. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay.

4 Advisory Vote on Say on Pay Frequency Mgmt One Year One Year

CVS Health Corporation

Meeting Date: 05/07/2015 Country: USA Meeting Type: Annual Ticker: CVS

Primary ISIN: US1266501006 Primary SEDOL: 2577609

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Richard M. Bracken Mgmt For For

1b Elect Director C. David Brown, II Mgmt For For

1c Elect Director Alecia A. DeCoudreaux Mgmt For For

1d Elect Director Nancy-Ann M. DeParle Mgmt For For

1e Elect Director David W. Dorman Mgmt For For

1f Elect Director Anne M. Finucane Mgmt For For

1g Elect Director Larry J. Merlo Mgmt For For

1h Elect Director Jean-Pierre Millon Mgmt For For

Page 89 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

CVS Health Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1i Elect Director Richard J. Swift Mgmt For For

1j Elect Director William C. Weldon Mgmt For For

1k Elect Director Tony L. White Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: We have been raising concerns regarding the structure of the pay plan for a number of years. The compensation plan received approximately 30% votes against last year and the board has not made significant changes to the pay structures. Most equity awards remain time-based, with only under a quarter of long-term awards linked to specific performance. Although certain problematic pay practices have been eliminated (such as tax gross-ups), the link between pay and performance merits further strengthening.

4 Amend Omnibus Stock Plan Mgmt For For

5 Report on Consistency Between Corporate SH Against Abstain Values and Political Contributions Voter Rationale:

The proposal is overly prescriptive but we share the proponent's concern over the potential risks of political and electioneering contributions that are inconsistent with the company's stated policies. The company should strive to align its political contribution expenditure with stated policies and strategies. The company provides reasonable disclosure of its political donations.

Dana Holding Corporation

Meeting Date: 04/30/2015 Country: USA Meeting Type: Annual Ticker: DAN

Primary ISIN: US2358252052 Primary SEDOL: B2PFJR3

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Virginia A. Kamsky Mgmt For For

1.2 Elect Director Terrence J. Keating Mgmt For For

1.3 Elect Director R. Bruce McDonald Mgmt For For

1.4 Elect Director Joseph C. Muscari Mgmt For For

Voter Rationale:

1.5 Elect Director Mark A. Schulz Mgmt For For

1.6 Elect Director Keith E. Wandell Mgmt For Withhold

Voter Rationale:

Page 90 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Dana Holding Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.7 Elect Director Roger J. Wood Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify Auditors Mgmt For For

Voter Rationale:

Danaher Corporation

Meeting Date: 05/07/2015 Country: USA Meeting Type: Annual Ticker: DHR

Primary ISIN: US2358511028 Primary SEDOL: 2250870

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Donald J. Ehrlich Mgmt For Against

Voter Rationale:

1.2 Elect Director Linda Hefner Filler Mgmt For Against

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board. Furthermore, the lead director is not considered sufficiently independent to serve in such role. The nominating/governance committee should appoint a fully independent lead director.

1.3 Elect Director Thomas P. Joyce, Jr. Mgmt For For

1.4 Elect Director Teri List-Stoll Mgmt For For

1.5 Elect Director Walter G. Lohr, Jr. Mgmt For Against

Voter Rationale:

1.6 Elect Director Mitchell P. Rales Mgmt For For

1.7 Elect Director Steven M. Rales Mgmt For For

1.8 Elect Director John T. Schwieters Mgmt For For

Page 91 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Danaher Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.9 Elect Director Alan G. Spoon Mgmt For Against

Voter Rationale:

1.10 Elect Director Elias A. Zerhouni Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Report on Political Contributions SH Against For

Voter Rationale:

DaVita HealthCare Partners Inc.

Meeting Date: 06/16/2015 Country: USA Meeting Type: Annual Ticker: DVA

Primary ISIN: US23918K1088 Primary SEDOL: 2898087

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Pamela M. Arway Mgmt For For

1b Elect Director Charles G. Berg Mgmt For For

1c Elect Director Carol Anthony ('John') Davidson Mgmt For For

1d Elect Director Paul J. Diaz Mgmt For Against

Voter Rationale: Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.

1e Elect Director Peter T. Grauer Mgmt For Against

1f Elect Director John M. Nehra Mgmt For Against

Page 92 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

DaVita HealthCare Partners Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1g Elect Director William L. Roper Mgmt For Against

1h Elect Director Kent J. Thiry Mgmt For For

1i Elect Director Roger J. Valine Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: Despite recent improvements to the plans and reductions in overall pay quantum, the underlying issue of payouts for below median performance remains unresolved and still less than half of equity incentives are subject to performance conditions, with most of these vesting with the passage of time.

4 Adopt Proxy Access Right SH Against For

Delphi Automotive plc

Meeting Date: 04/23/2015 Country: Jersey Meeting Type: Annual Ticker: DLPH

Primary ISIN: JE00B783TY65 Primary SEDOL: B783TY6

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Kevin P. Clark as a Director Mgmt For For

1.2 Re-elect Gary L. Cowger as a Director Mgmt For For

1.3 Re-elect Nicholas M. Donofrio as a Director Mgmt For For

1.4 Re-elect Mark P. Frissora as a Director Mgmt For Against

1.5 Re-elect Rajiv L. Gupta as a Director Mgmt For For

1.6 Re-elect J. Randall MacDonald as a Director Mgmt For For

1.7 Re-elect Sean O. Mahoney as a Director Mgmt For For

1.8 Elect Timothy M. Manganello as a Director Mgmt For For

Page 93 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Delphi Automotive plc

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.9 Re-elect Thomas W. Sidlik as a Director Mgmt For For

1.10 Re-elect Bernd Wiedemann as a Director Mgmt For For

1.11 Re-elect Lawrence A. Zimmerman as a Director Mgmt For For

12 Ratify Ernst & Young LLP as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration

13 Amend Omnibus Stock Plan Mgmt For Against

Voter Rationale: The total cost of the equity plan is excessive.

14 Approve Executive Incentive Bonus Plan Mgmt For For

15 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

Delta Air Lines, Inc.

Meeting Date: 06/25/2015 Country: USA Meeting Type: Annual Ticker: DAL

Primary ISIN: US2473617023 Primary SEDOL: B1W9D46

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Richard H. Anderson Mgmt For For

1b Elect Director Edward H. Bastian Mgmt For For

Voter Rationale:

1c Elect Director Francis S. Blake Mgmt For For

1d Elect Director Roy J. Bostock Mgmt For For

1e Elect Director John S. Brinzo Mgmt For For

1f Elect Director Daniel A. Carp Mgmt For For

Voter Rationale:

For maximum effectiveness a board should include between 5 and 15 directors.

1g Elect Director David G. DeWalt Mgmt For Against

Voter Rationale:

1h Elect Director Thomas E. Donilon Mgmt For For

1i Elect Director William H. Easter, III Mgmt For For

Page 94 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Delta Air Lines, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1j Elect Director Mickey P. Foret Mgmt For Against

Voter Rationale:

Executives from acquired companies are not sufficiently independent to serve on key board committees and should be considered affiliated directors.

1k Elect Director Shirley C. Franklin Mgmt For For

1l Elect Director David R. Goode Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1m Elect Director George N. Mattson Mgmt For For

1n Elect Director Douglas R. Ralph Mgmt For For

1o Elect Director Sergio A.L. Rial Mgmt For For

1p Elect Director Kenneth B. Woodrow Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Ratify Ernst & Young LLP as Auditors Mgmt For For

4 Adopt Share Retention Policy For Senior SH Against For Executives Voter Rationale:

Dillard's, Inc.

Meeting Date: 05/16/2015 Country: USA Meeting Type: Annual Ticker: DDS

Primary ISIN: US2540671011 Primary SEDOL: 2269768

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Frank R. Mori Mgmt For Against

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders. Furthermore, the board lacks both an independent chairman and an appropriate independent lead director. At the very least, the nominating committee should appoint a fully independent lead director. Moreover, boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board. Lastly, executives that sit on multiple outside public boards risk not having time and energy to discharge their role properly, particularly during unexpected company situations. The CEO's current outside commitments should come under review of the board.

Page 95 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Dillard's, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1b Elect Director Reynie Rutledge Mgmt For Against

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1c Elect Director J.C. Watts, Jr. Mgmt For Against

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1d Elect Director Nick White Mgmt For Against

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

2 Ratify KPMG LLP as Auditors Mgmt For For

3 Amend Non-Employee Director Restricted Stock Mgmt For For Plan

4 Adopt Quantitative GHG Goals for Products and SH Against For Operations Voter Rationale:

Discover Financial Services

Meeting Date: 04/29/2015 Country: USA Meeting Type: Annual Ticker: DFS

Primary ISIN: US2547091080 Primary SEDOL: B1YLC43

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Jeffrey S. Aronin Mgmt For For

1.2 Elect Director Mary K. Bush Mgmt For For

1.3 Elect Director Gregory C. Case Mgmt For For

1.4 Elect Director Candace H. Duncan Mgmt For For

1.5 Elect Director Cynthia A. Glassman Mgmt For For

1.6 Elect Director Richard H. Lenny Mgmt For For

1.7 Elect Director Thomas G. Maheras Mgmt For For

1.8 Elect Director Michael H. Moskow Mgmt For For

Page 96 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Discover Financial Services

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.9 Elect Director David W. Nelms Mgmt For For

Voter Rationale:

The roles of Chairman and CEO are substantially different and generally should be separated. Separation of roles is important for securing a proper balance between executives and outside shareholders and for preserving accountability. Furthermore, executives that sit on multiple outside public boards risk not having time and energy to discharge their role properly, particularly during unexpected company situations. The CEO's current outside commitments should come under review of the board.

1.10 Elect Director Mark A. Thierer Mgmt For For

1.11 Elect Director Lawrence A. Weinbach Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Discovery Communications, Inc.

Meeting Date: 05/20/2015 Country: USA Meeting Type: Annual Ticker: DISCA

Primary ISIN: US25470F1049 Primary SEDOL: B3D7K31

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Robert R. Beck Mgmt For Withhold

Voter Rationale:

Executive pay is not in line with company performance. The compensation committee should do more to respond to best practices in pay that help establish compensation packages that reward strong performance and build shareholder value over time. The CEO's outsized $170 million pay package awarded in 2014 is only the most recent issue in the company's long history of problematic pay practices and compensation-related concerns that continue, unabated, despite significant vote opposition by shareholders to both compensation committee members and say-on-pay proposals.

1.2 Elect Director J. David Wargo Mgmt For Withhold

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders. Furthermore, directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability.

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

3 Amend Non-Employee Director Omnibus Stock Mgmt For Against Plan Voter Rationale:

The total cost of the equity plan is excessive.

4 Report on Plans to Increase Board Diversity SH Against For

Voter Rationale:

The company should strive to widen its pool of potential candidates to draw on the richest possible combination of talents and perspectives. In addition, board charters should affirm the value of individual diversity of all kinds including gender, ethnic origin, nationality, professional background and many other factors that may enhance the board's performance.

Page 97 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Dollar General Corporation

Meeting Date: 05/27/2015 Country: USA Meeting Type: Annual Ticker: DG

Primary ISIN: US2566771059 Primary SEDOL: B5B1S13

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Warren F. Bryant Mgmt For For

1b Elect Director Michael M. Calbert Mgmt For For

1c Elect Director Sandra B. Cochran Mgmt For For

1d Elect Director Richard W. Dreiling Mgmt For For

Voter Rationale:

1e Elect Director Patricia D. Fili-Krushel Mgmt For For

1f Elect Director Paula A. Price Mgmt For For

1g Elect Director William C. Rhodes, III Mgmt For For

1h Elect Director David B. Rickard Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

Dollar Tree, Inc.

Meeting Date: 06/18/2015 Country: USA Meeting Type: Annual Ticker: DLTR

Primary ISIN: US2567461080 Primary SEDOL: 2272476

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Arnold S. Barron Mgmt For For

1.2 Elect Director Macon F. Brock, Jr. Mgmt For For

1.3 Elect Director Mary Anne Citrino Mgmt For For

1.4 Elect Director H. Ray Compton Mgmt For Against

Voter Rationale:

Page 98 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Dollar Tree, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.5 Elect Director Conrad M. Hall Mgmt For For

1.6 Elect Director Lemuel E. Lewis Mgmt For For

1.7 Elect Director J. Douglas Perry Mgmt For Against

Voter Rationale:

1.8 Elect Director Bob Sasser Mgmt For For

1.9 Elect Director Thomas A. Saunders, III Mgmt For Against

Voter Rationale:

1.10 Elect Director Thomas E. Whiddon Mgmt For For

1.11 Elect Director Carl P. Zeithaml Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify KPMG LLP as Auditors Mgmt For For

Voter Rationale:

4 Approve Qualified Employee Stock Purchase Mgmt For For Plan

Dominion Resources, Inc.

Meeting Date: 05/06/2015 Country: USA Meeting Type: Annual Ticker: D

Primary ISIN: US25746U1097 Primary SEDOL: 2542049

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director William P. Barr Mgmt For For

1.2 Elect Director Helen E. Dragas Mgmt For For

1.3 Elect Director James O. Ellis, Jr. Mgmt For For

Page 99 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Dominion Resources, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.4 Elect Director Thomas F. Farrell, II Mgmt For For

1.5 Elect Director John W. Harris Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence. Furthermore, directors with significant business ties to the company are not sufficiently independent to serve on key committees. Moreover, the compensation committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.

1.6 Elect Director Mark J. Kington Mgmt For For

1.7 Elect Director Pamela J. Royal Mgmt For For

1.8 Elect Director Robert H. Spilman, Jr. Mgmt For For

1.9 Elect Director Michael E. Szymanczyk Mgmt For For

1.10 Elect Director David A. Wollard Mgmt For Against

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice for large companies. Additionally, while the board has identified some performance conditions for the equity awards, the annual time frame is too short to be considered long-term. We prefer to see performance periods between three and five years. Finally, plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay.

4 Provide Right to Call Special Meeting Mgmt For For

5 Provide Right to Act by Written Consent SH Against For

6 Cease Construction of New Nuclear Units SH Against Against

Voter Rationale: The proposal is overly prescriptive.

7 Report on Methane Emissions Management and SH Against For Reduction Targets Voter Rationale: Climate change presents ongoing and serious long-term operational and regulatory risks that can impact shareholder value. The company should assess and set goals to address its greenhouse gas emissions. This is particularly important given the need for individual corporate action given the regulatory vacuum on this important issue in the United States.

Page 100 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Dominion Resources, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

8 Include Carbon Reduction as a Performance SH Against Against Measure for Senior Executive Compensation Voter Rationale: Although we agree that social and environmental issues can affect long-term shareholder value and should be included where relevant in evaluations and compensation, we believe the that the proposed resolution is overly prescriptive.

9 Report on Financial and Physical Risks of SH Against For Climate Change Voter Rationale: We voted for this proposal because climate change presents ongoing and serious financial risks. Additional information on the company's strategy and competitive positioning is merited.

10 Adopt Quantitative GHG Goals for Products and SH Against For Operations Voter Rationale: Climate change presents ongoing and serious long-term operational and regulatory risks that can impact shareholder value. The company should assess and set goals to address its greenhouse gas emissions.

11 Report on Biomass Carbon Footprint and Assess SH Against For Risks Voter Rationale: Energy efficiency and renewable energy present opportunities for increasing shareholder value while mitigating risks associated with climate change. Additional information is merited.

Domino's Pizza, Inc.

Meeting Date: 04/21/2015 Country: USA Meeting Type: Annual Ticker: DPZ

Primary ISIN: US25754A2015 Primary SEDOL: B01SD70

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director David A. Brandon Mgmt For For

1.2 Elect Director Diana F. Cantor Mgmt For Withhold

Voter Rationale: The lead director is not considered sufficiently independent to serve in such role. The nominating/governance committee should appoint a fully independent lead director.

1.3 Elect Director Richard L. Federico Mgmt For For

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

4 Declassify the Board of Directors Mgmt For For

Voter Rationale: The decision to declassify the board is laudable. The annual election of directors provides greater board accountability to shareholders and is appreciated.

5 Amend Executive Incentive Bonus Plan Mgmt For For

Page 101 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Domino's Pizza, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

6 Include Vegan Options on Menu SH Against Against

Voter Rationale: This proposal is overly prescriptive.

7 Adopt Proxy Access Right SH Against For

Domtar Corporation

Meeting Date: 05/06/2015 Country: USA Meeting Type: Annual Ticker: UFS

Primary ISIN: US2575592033 Primary SEDOL: B1T84Z4

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Giannella Alvarez Mgmt For For

1.2 Elect Director Robert E. Apple Mgmt For For

1.3 Elect Director Louis P. Gignac Mgmt For For

1.4 Elect Director David J. Illingworth Mgmt For For

1.5 Elect Director Brian M. Levitt Mgmt For For

1.6 Elect Director David G. Maffucci Mgmt For For

1.7 Elect Director Domenic Pilla Mgmt For For

1.8 Elect Director Robert J. Steacy Mgmt For For

1.9 Elect Director Pamela B. Strobel Mgmt For For

1.10 Elect Director Denis Turcotte Mgmt For For

1.11 Elect Director John D. Williams Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Page 102 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Dr Pepper Snapple Group, Inc.

Meeting Date: 05/21/2015 Country: USA Meeting Type: Annual Ticker: DPS

Primary ISIN: US26138E1091 Primary SEDOL: B2QW0Z8

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director David E. Alexander Mgmt For For

1b Elect Director Antonio Carrillo Mgmt For For

1c Elect Director Pamela H. Patsley Mgmt For Against

1d Elect Director Joyce M. Roche Mgmt For For

1e Elect Director Ronald G. Rogers Mgmt For For

1f Elect Director Wayne R. Sanders Mgmt For For

1g Elect Director Dunia A. Shive Mgmt For For

1h Elect Director M. Anne Szostak Mgmt For For

1i Elect Director Larry D. Young Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

4 Adopt Comprehensive Recycling Strategy for SH Against For Beverage Containers Voter Rationale: Product take-back and recycling present ongoing risks and opportunities to long-term shareholder value. Additional information, including clear recycling targets, is merited.

5 Report on Human Rights Risks is Sugar Supply SH Against For Chain Voter Rationale: The proposed additional disclosure would help further enhance oversight and management of supply chain management issues. Also, the request is not overly prescriptive and should not be difficult to implement.

DTE Energy Company

Meeting Date: 05/07/2015 Country: USA Meeting Type: Annual Ticker: DTE

Primary ISIN: US2333311072 Primary SEDOL: 2280220

Page 103 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

DTE Energy Company

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Gerard M. Anderson Mgmt For For

Voter Rationale:

1.2 Elect Director David A. Brandon Mgmt For For

1.3 Elect Director W. Frank Fountain, Jr. Mgmt For For

1.4 Elect Director Charles G. McClure, Jr. Mgmt For For

1.5 Elect Director Gail J. McGovern Mgmt For For

1.6 Elect Director Mark A. Murray Mgmt For For

1.7 Elect Director James B. Nicholson Mgmt For For

1.8 Elect Director Charles W. Pryor, Jr. Mgmt For For

1.9 Elect Director Josue Robles, Jr. Mgmt For For

1.10 Elect Director Ruth G. Shaw Mgmt For For

1.11 Elect Director David A. Thomas Mgmt For For

1.12 Elect Director James H. Vandenberghe Mgmt For For

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Approve Executive Incentive Bonus Plan Mgmt For For

5 Report on Political Contributions SH Against For

Voter Rationale:

6 Adopt Proxy Access Right SH Against For

Voter Rationale:

7 Assess Plans to Increase Distributed SH Against For Low-Carbon Electricity Generation Voter Rationale:

Energy efficiency and renewable energy present opportunities for increasing shareholder value while mitigating risks associated with climate change. Additional information is merited.

Page 104 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

DTE Energy Company

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

8 Require Independent Board Chairman SH Against For

Voter Rationale:

Duke Energy Corporation

Meeting Date: 05/07/2015 Country: USA Meeting Type: Annual Ticker: DUK

Primary ISIN: US26441C2044 Primary SEDOL: B7VD3F2

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Michael G. Browning Mgmt For For

1b Elect Director Harris E. DeLoach, Jr. Mgmt For For

1c Elect Director Daniel R. DiMicco Mgmt For For

1d Elect Director John H. Forsgren Mgmt For For

1e Elect Director Lynn J. Good Mgmt For For

1f Elect Director Ann Maynard Gray Mgmt For Withhold

Voter Rationale:

1g Elect Director James H. Hance, Jr. Mgmt For For

1h Elect Director John T. Herron Mgmt For For

1i Elect Director James B. Hyler, Jr. Mgmt For For

1j Elect Director William E. Kennard Mgmt For For

1k Elect Director E. Marie McKee Mgmt For For

1l Elect Director Richard A. Meserve Mgmt For For

1m Elect Director James T. Rhodes Mgmt For For

1n Elect Director Carlos A. Saladrigas Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Voter Rationale:

Page 105 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Duke Energy Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Approve Omnibus Stock Plan Mgmt For For

5 Pro-rata Vesting of Equity Awards SH Against For

Voter Rationale:

In the case of a change of control, equity should only vest if an executive is not offered employment in the new company, a so-called double trigger.

6 Report on Political Contributions SH Against For

Voter Rationale:

7 Adopt Proxy Access Right SH Against For

Voter Rationale:

Eastman Chemical Company

Meeting Date: 05/07/2015 Country: USA Meeting Type: Annual Ticker: EMN

Primary ISIN: US2774321002 Primary SEDOL: 2298386

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Humberto P. Alfonso Mgmt For Against

Voter Rationale:

1.2 Elect Director Gary E. Anderson Mgmt For Against

1.3 Elect Director Brett D. Begemann Mgmt For Against

1.4 Elect Director Michael P. Connors Mgmt For Against

Voter Rationale:

Page 106 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Eastman Chemical Company

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.5 Elect Director Mark J. Costa Mgmt For Against

Voter Rationale:

1.6 Elect Director Stephen R. Demeritt Mgmt For Against

1.7 Elect Director Robert M. Hernandez Mgmt For Against

1.8 Elect Director Julie F. Holder Mgmt For Against

1.9 Elect Director Renee J. Hornbaker Mgmt For Against

1.10 Elect Director Lewis M. Kling Mgmt For Against

1.11 Elect Director David W. Raisbeck Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale:

eBay Inc.

Meeting Date: 05/01/2015 Country: USA Meeting Type: Annual Ticker: EBAY

Primary ISIN: US2786421030 Primary SEDOL: 2293819

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Fred D. Anderson Mgmt For For

1b Elect Director Anthony J. Bates Mgmt For For

1c Elect Director Edward W. Barnholt Mgmt For For

1d Elect Director Jonathan Christodoro Mgmt For For

1e Elect Director Scott D. Cook Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1f Elect Director John J. Donahoe Mgmt For For

1g Elect Director David W. Dorman Mgmt For For

Page 107 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015 eBay Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1h Elect Director Bonnie S. Hammer Mgmt For For

1i Elect Director Gail J. McGovern Mgmt For For

1j Elect Director Kathleen C. Mitic Mgmt For For

1k Elect Director David M. Moffett Mgmt For For

1l Elect Director Pierre M. Omidyar Mgmt For For

1m Elect Director Thomas J. Tierney Mgmt For For

Voter Rationale: Executives that sit on multiple outside public boards risk not having time and energy to discharge their role properly, particularly during unexpected company situations. The CEO's current outside commitments should come under review of the board.

1n Elect Director Perry M. Traquina Mgmt For For

1o Elect Director Frank D. Yeary Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: While the board has identified some performance conditions for the equity awards, the annual time frame is too short to be considered long-term. We prefer to see performance periods between three and five years. Additionally, a larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice for large companies.

3 Amend Executive Incentive Bonus Plan Mgmt For For

4 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

5 Provide Right to Act by Written Consent SH Against For

6 Adopt Proxy Access Right SH Against For

Voter Rationale: Recommendations Rationale : Shareholders should have the right to reasonable access to the proxy, including the nomination of directors to the board. Such a practice encourages greater accountability of directors to the shareholders whose interests they represent. Similar proxy access in other developed markets has not lead to problematic elections, as some companies fear.

7 Report on Gender Pay Gap SH Against Against

Voter Rationale: The proposal is overly prescriptive. The company has a robust equal employment opportunity policy which should address any discrimination concerns and there is no evidence of any issues of this nature affecting the company. In addition, the company has a number of diversity and female leadership initiatives

Ecolab Inc.

Meeting Date: 05/07/2015 Country: USA Meeting Type: Annual Ticker: ECL

Primary ISIN: US2788651006 Primary SEDOL: 2304227

Page 108 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Ecolab Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Douglas M. Baker, Jr. Mgmt For For

Voter Rationale:

1.2 Elect Director Barbara J. Beck Mgmt For For

1.3 Elect Director Leslie S. Biller Mgmt For Against

Voter Rationale:

1.4 Elect Director Carl M. Casale Mgmt For For

1.5 Elect Director Stephen I. Chazen Mgmt For For

1.6 Elect Director Jeffrey M. Ettinger Mgmt For Against

Voter Rationale:

1.7 Elect Director Jerry A. Grundhofer Mgmt For Against

Voter Rationale:

1.8 Elect Director Arthur J. Higgins Mgmt For For

1.9 Elect Director Joel W. Johnson Mgmt For Against

Voter Rationale:

1.10 Elect Director Michael Larson Mgmt For For

1.11 Elect Director Jerry W. Levin Mgmt For Against

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board and should take immediate action to reduce the proportion of long standing directors and reduce the risk of entrenchment. Furthermore, the board lacks both an independent chairman and a sufficiently independent lead director. At the very least, the nominating committee should appoint a fully independent lead director whose independence is not compromised. Moreover, executives that sit on multiple outside public boards risk not having time and energy to discharge their role properly, particularly during unexpected company situations. The CEO's current outside commitments should come under review of the board.

1.12 Elect Director Robert L. Lumpkins Mgmt For Against

Voter Rationale:

1.13 Elect Director Tracy B. McKibben Mgmt For For

1.14 Elect Director Victoria J. Reich Mgmt For For

1.15 Elect Director Suzanne M. Vautrinot Mgmt For For

Page 109 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Ecolab Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.16 Elect Director John J. Zillmer Mgmt For For

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

4 Require Independent Board Chairman SH Against For

Voter Rationale:

Edison International

Meeting Date: 04/23/2015 Country: USA Meeting Type: Annual Ticker: EIX

Primary ISIN: US2810201077 Primary SEDOL: 2829515

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Jagjeet S. Bindra Mgmt For For

1.2 Elect Director Vanessa C.L. Chang Mgmt For For

1.3 Elect Director Theodore F. Craver, Jr. Mgmt For For

Voter Rationale:

1.4 Elect Director Richard T. Schlosberg, III Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.5 Elect Director Linda G. Stuntz Mgmt For For

1.6 Elect Director William P. Sullivan Mgmt For For

1.7 Elect Director Ellen O. Tauscher Mgmt For For

1.8 Elect Director Peter J. Taylor Mgmt For For

1.9 Elect Director Brett White Mgmt For For

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Page 110 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Edison International

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Claw-back of Payments under Restatements SH Against For

Voter Rationale:

Edwards Lifesciences Corporation

Meeting Date: 05/14/2015 Country: USA Meeting Type: Annual Ticker: EW

Primary ISIN: US28176E1082 Primary SEDOL: 2567116

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director John T. Cardis Mgmt For For

1b Elect Director Kieran T. Gallahue Mgmt For For

1c Elect Director Barbara J. McNeil Mgmt For For

1d Elect Director Michael A. Mussallem Mgmt For For

Voter Rationale:

1e Elect Director Nicholas J. Valeriani Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice for large companies. Furthermore, plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay.

3 Approve Executive Incentive Bonus Plan Mgmt For For

4 Amend Omnibus Stock Plan Mgmt For Against

Voter Rationale:

The total cost of the equity plan is excessive.

5 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Page 111 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Edwards Lifesciences Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

6 Provide Right to Act by Written Consent SH Against For

Voter Rationale:

Eli Lilly and Company

Meeting Date: 05/04/2015 Country: USA Meeting Type: Annual Ticker: LLY

Primary ISIN: US5324571083 Primary SEDOL: 2516152

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1a Elect Director Katherine Baicker Mgmt For For

1.1b Elect Director J. Erik Fyrwald Mgmt For For

1.1c Elect Director Ellen R. Marram Mgmt For Against

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board and should take immediate action to reduce the proportion of long standing directors and reduce the risk of entrenchment. Furthermore, the board lacks both an independent chairman and a sufficiently independent lead director. At the very least, the nominating committee should appoint a fully independent lead director whose independence is not compromised. Moreover, directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability. Additionally, executives that sit on multiple outside public boards risk not having time and energy to discharge their role properly, particularly during unexpected company situations. The CEO's current outside commitments should come under review of the board.

1.1d Elect Director Jackson P. Tai Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

EMC Corporation

Meeting Date: 04/30/2015 Country: USA Meeting Type: Annual Ticker: EMC

Primary ISIN: US2686481027 Primary SEDOL: 2295172

Page 112 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

EMC Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1a Elect Director Jose E. Almeida Mgmt For For

1.1b Elect Director Michael W. Brown Mgmt For For

1.1c Elect Director Donald J. Carty Mgmt For For

1.1d Elect Director Randolph L. Cowen Mgmt For For

1.1e Elect Director James S. DiStasio Mgmt For For

1.1f Elect Director John R. Egan Mgmt For For

1.1g Elect Director William D. Green Mgmt For For

1.1h Elect Director Edmund F. Kelly Mgmt For For

1.1i Elect Director Jami Miscik Mgmt For For

Voter Rationale:

1.1j Elect Director Paul Sagan Mgmt For For

1.1k Elect Director David N. Strohm Mgmt For For

1.1l Elect Director Joseph M. Tucci Mgmt For For

Voter Rationale:

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation Voter Rationale: We recognise the improvements made to the company's compensation schemes, such as the introduction of longer performance thresholds and more challenging targets. Nevertheless we will continue to monitor how the compensation committee exercises its discretion to adjust awards as we have concerns that in the past such discretion has resulted in a disconnect between awards and performance. We will continue to encourage the company to rely less on discretion and continue to place greater emphasis in objective performance metrics.

4 Amend Omnibus Stock Plan Mgmt For For

5 Require Independent Board Chairman SH Against For

Voter Rationale:

Appointing a fully independent chairman creates a balance of power that is more conducive to long-term performance. A board headed by management cannot reasonably provide the best oversight and evaluation of management's performance. The company's leadership structure is of particular concern as the retirement of the incumbent CEO and chair is imminent and the disclosure regarding the succession planning for both roles is suboptimal. Having the roles of CEO and chair separated would likely mitigate the disruption caused by the retirement of a single individual holding both jobs.

Page 113 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Engility Holdings, Inc.

Meeting Date: 05/21/2015 Country: USA Meeting Type: Annual Ticker: EGL

Primary ISIN: US29286C1071 Primary SEDOL: BVWVSS1

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Lynn A. Dugle Mgmt For For

1.2 Elect Director Charles S. Ream Mgmt For Withhold

Voter Rationale:

1.3 Elect Director Anthony Smeraglinolo Mgmt For For

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Ensco plc

Meeting Date: 05/18/2015 Country: United Kingdom Meeting Type: Annual Ticker: ESV

Primary ISIN: GB00B4VLR192 Primary SEDOL: B4VLR19

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Re-elect J. Roderick Clark as Director Mgmt For For

1b Re-elect Roxanne J. Decyk as Director Mgmt For For

1c Re-elect Mary E. Francis as Director Mgmt For For

1d Re-elect C. Christopher Gaut as Director Mgmt For Against

Voter Rationale:

1e Re-elect Gerald W. Haddock as Director Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1f Re-elect Francis S. Kalman as Director Mgmt For For

Page 114 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Ensco plc

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1g Re-elect Keith O. Rattie as Director Mgmt For For

1h Re-elect Paul E. Rowsey, III as Director Mgmt For Against

Voter Rationale:

1i Re-elect Carl G. Trowell as Director Mgmt For For

2 Issue of Equity or Equity-Linked Securities with Mgmt For For Pre-emptive Rights

3 Ratify KPMG as US Independent Auditor Mgmt For For

4 Appoint KPMG LLP as UK Statutory Auditor Mgmt For For

5 Authorize Board to Fix Remuneration of Auditors Mgmt For For

6 Amend Omnibus Stock Plan Mgmt For For

7 Amend Executive Incentive Bonus Plan Mgmt For For

8 Approve Remuneration Report Mgmt For Against

Voter Rationale:

9 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

10 Accept Financial Statements and Statutory Mgmt For For Reports

11 Issue of Equity or Equity-Linked Securities Mgmt For For without Pre-emptive Rights

Entergy Corporation

Meeting Date: 05/08/2015 Country: USA Meeting Type: Annual Ticker: ETR

Primary ISIN: US29364G1031 Primary SEDOL: 2317087

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Maureen S. Bateman Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

Page 115 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Entergy Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1b Elect Director Patrick J. Condon Mgmt For For

1c Elect Director Leo P. Denault Mgmt For For

1d Elect Director Kirkland H. Donald Mgmt For For

1e Elect Director Gary W. Edwards Mgmt For For

1f Elect Director Alexis M. Herman Mgmt For For

1g Elect Director Donald C. Hintz Mgmt For For

1h Elect Director Stuart L. Levenick Mgmt For For

1i Elect Director Blanche L. Lincoln Mgmt For For

1j Elect Director Karen A. Puckett Mgmt For For

1k Elect Director W. J. 'Billy' Tauzin Mgmt For For

1l Elect Director Steven V. Wilkinson Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: Plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay.

4 Amend Executive Incentive Bonus Plan Mgmt For For

5 Approve Omnibus Stock Plan Mgmt For For

6 Include Carbon Reduction as a Performance SH Against Against Measure for Senior Executive Compensation Voter Rationale: The proposed resolution is overly prescriptive. We believe that it is the responsibility of the remuneration committee to incorporate sustainability performance factors into compensation plans and to identify the specific metrics that are most relevant to the company. This should be considered as part of their holistic approach to designing pay plans.

EOG Resources, Inc.

Meeting Date: 04/30/2015 Country: USA Meeting Type: Annual Ticker: EOG

Primary ISIN: US26875P1012 Primary SEDOL: 2318024

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1a Elect Director Janet F. Clark Mgmt For For

Page 116 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

EOG Resources, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1b Elect Director Charles R. Crisp Mgmt For Against

Voter Rationale:

1.1c Elect Director James C. Day Mgmt For For

1.1d Elect Director H. Leighton Steward Mgmt For For

1.1e Elect Director Donald F. Textor Mgmt For Against

Voter Rationale:

1.1f Elect Director William R. Thomas Mgmt For For

Voter Rationale:

1.1g Elect Director Frank G. Wisner Mgmt For Against

Voter Rationale:

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice for large companies. Furthermore, plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay.

4 Proxy Access SH Against For

Voter Rationale:

5 Report on Methane Emissions Management and SH Against For Reduction Targets Voter Rationale:

Climate change presents ongoing and serious long-term operational and regulatory risks that can impact shareholder value. The company should assess and set goals to address its greenhouse gas emissions. This is particularly important given the need for individual corporate action given the regulatory vacuum on this important issue in the United States.

Equinix, Inc.

Meeting Date: 05/27/2015 Country: USA Meeting Type: Annual Ticker: EQIX

Primary ISIN: US29444U7000 Primary SEDOL: BVLZX12

Page 117 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Equinix, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Thomas Bartlett Mgmt For For

1.2 Elect Director Gary Hromadko Mgmt For For

1.3 Elect Director Scott Kriens Mgmt For Withhold

Voter Rationale:

1.4 Elect Director William Luby Mgmt For For

1.5 Elect Director Irving Lyons, III Mgmt For For

1.6 Elect Director Christopher Paisley Mgmt For For

1.7 Elect Director Stephen Smith Mgmt For For

1.8 Elect Director Peter Van Camp Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Everest Re Group, Ltd.

Meeting Date: 05/13/2015 Country: Bermuda Meeting Type: Annual Ticker: RE

Primary ISIN: BMG3223R1088 Primary SEDOL: 2556868

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Dominic J. Addesso Mgmt For For

1.2 Elect Director John J. Amore Mgmt For For

1.3 Elect Director John R. Dunne Mgmt For Withhold

Voter Rationale:

Page 118 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Everest Re Group, Ltd.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.4 Elect Director William F. Galtney, Jr. Mgmt For Withhold

Voter Rationale:

1.5 Elect Director Gerri Losquadro Mgmt For For

1.6 Elect Director Roger M. Singer Mgmt For For

1.7 Elect Director Joseph V. Taranto Mgmt For For

1.8 Elect Director John A. Weber Mgmt For For

2 Approve PricewaterhouseCoopers LLP as Mgmt For For Auditors and Authorize Board to Fix Their Remuneration

3 Amend Omnibus Stock Plan Mgmt For For

4 Amend Non-Employee Director Omnibus Stock Mgmt For For Plan

5 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

Exelis Inc.

Meeting Date: 05/22/2015 Country: USA Meeting Type: Special Ticker: XLS

Primary ISIN: US30162A1088 Primary SEDOL: B713S57

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1 Approve Merger Agreement Mgmt For For

2 Advisory Vote on Golden Parachutes Mgmt For Against

Voter Rationale:

Too much equity vests easily under this golden parachute arrangement. The majority of equity should only vest if executives lose their jobs following a merger, a so-called double trigger.

3 Adjourn Meeting Mgmt For For

Exelon Corporation

Meeting Date: 04/28/2015 Country: USA Meeting Type: Annual Ticker: EXC

Primary ISIN: US30161N1019 Primary SEDOL: 2670519

Page 119 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Exelon Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1a Elect Director Anthony K. Anderson Mgmt For For

1.1b Elect Director Ann C. Berzin Mgmt For For

1.1c Elect Director John A. Canning Mgmt For For

1.1d Elect Director Christopher M. Crane Mgmt For For

1.1e Elect Director Yves C. de Balmann Mgmt For For

1.1f Elect Director Nicholas DeBenedictis Mgmt For Against

1.1g Elect Director Paul L. Joskow Mgmt For For

1.1h Elect Director Robert J. Lawless Mgmt For For

1.1i Elect Director Richard W. Mies Mgmt For For

1.1j Elect Director William C. Richardson Mgmt For For

1.1k Elect Director John W. Rogers, Jr. Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.1l Elect Director Mayo A. Shattuck, III Mgmt For For

1.1m Elect Director Stephen D. Steinour Mgmt For Against

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

4 Amend Omnibus Stock Plan Mgmt For For

5 Provide Proxy Access Right Mgmt For Against

Voter Rationale: This management proposal on proxy access is more restrictive than the alternative shareholder proposal on this ballot and merits a vote against.

6 Proxy Access SH Against For

Voter Rationale: Shareholders should have the right to reasonable access to the proxy, including the nomination of directors to the board. Such a practice encourages greater accountability of directors to the shareholders whose interests they represent. Similar proxy access in other developed markets has not lead to problematic elections, as some companies fear. This proposal follows the SEC's recommended thresholds and it is therefore more favourable to shareholders than the alternative resolution proposed by management in this ballot.

Page 120 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Expedia, Inc.

Meeting Date: 06/16/2015 Country: USA Meeting Type: Annual Ticker: EXPE

Primary ISIN: US30212P3038 Primary SEDOL: B748CK2

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director A. George 'Skip' Battle Mgmt For Withhold

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1.2 Elect Director Pamela L. Coe Mgmt For For

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1.3 Elect Director Barry Diller Mgmt For For

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1.4 Elect Director Jonathan L. Dolgen Mgmt For Withhold

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1.5 Elect Director Craig A. Jacobson Mgmt For Withhold

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1.6 Elect Director Victor A. Kaufman Mgmt For For

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1.7 Elect Director Peter M. Kern Mgmt For Withhold

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders. Furthemore, the board should establish formal committees to oversee compensation, auditing, nominating and governance functions.

1.8 Elect Director Dara Khosrowshahi Mgmt For For

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders. Furthermore, executives that sit on multiple outside public boards risk not having time and energy to discharge their role properly, particularly during unexpected company situations. The CEO's current outside commitments should come under review of the board.

1.9 Elect Director John C. Malone Mgmt For Withhold

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders. Furthermore, directors are expected to hold six or fewer directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time.

1.10 Elect Director Jose A. Tazon Mgmt For Withhold

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

Page 121 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Expedia, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

2 Amend Omnibus Stock Plan Mgmt For Against

Voter Rationale:

The total cost of the equity plan is excessive. Furthermore, the plan improperly allows for accelerated vesting for an overly broad range of corporate restructuring scenarios and such provisions fail to reward performance. Rather, equity should be rolled forward into any successor company, or vest in a time-apportioned fashion only to the extent that performance conditions are met or if an executive loses his job. Moreover, the grant rate is too high, and may lead to excessive dilution. Additionally, incentive plans that allow for loans to exercise options are inconsistent with good practice and should be eliminated.

3 Ratify Ernst & Young LLP as Auditors Mgmt For For

EXPRESS SCRIPTS HOLDING COMPANY

Meeting Date: 05/06/2015 Country: USA Meeting Type: Annual Ticker: ESRX

Primary ISIN: US30219G1085 Primary SEDOL: B7QQYV9

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Gary G. Benanav Mgmt For Against

Voter Rationale:

All of the directors standing for re-election participated in recent board decisions to ignore shareholder proposals that were supported by a majority of voting shareholders in previous years. This is an unacceptable breach of accountability to shareholders. Furthermore, boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee should take action to ensure an appropriately fresh board and reduce the proportion of long standing directors to reduce the risk of entrenchment.

1b Elect Director Maura C. Breen Mgmt For Against

1c Elect Director William J. DeLaney Mgmt For Against

1d Elect Director Elder Granger Mgmt For For

1e Elect Director Nicholas J. LaHowchic Mgmt For Against

Voter Rationale:

1f Elect Director Thomas P. Mac Mahon Mgmt For Against

Voter Rationale:

1g Elect Director Frank Mergenthaler Mgmt For Against

1h Elect Director Woodrow A. Myers, Jr. Mgmt For Against

1i Elect Director Roderick A. Palmore Mgmt For For

Page 122 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

EXPRESS SCRIPTS HOLDING COMPANY

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1j Elect Director George Paz Mgmt For Against

Voter Rationale:

1k Elect Director William L. Roper Mgmt For Against

1l Elect Director Seymour Sternberg Mgmt For Against

Voter Rationale:

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Report on Political Contributions SH Against Abstain

Voter Rationale:

The company provides reasonable disclosure of its political donations. However, it should enhance transparency around its public policy priorities, as well as its key relationships with trade associations that engage on lobbying on its behalf.

5 Require Independent Board Chairman SH Against For

Voter Rationale:

Exxon Mobil Corporation

Meeting Date: 05/27/2015 Country: USA Meeting Type: Annual Ticker: XOM

Primary ISIN: US30231G1022 Primary SEDOL: 2326618

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Michael J. Boskin Mgmt For Withhold

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.2 Elect Director Peter Brabeck-Letmathe Mgmt For For

Page 123 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Exxon Mobil Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.3 Elect Director Ursula M. Burns Mgmt For Withhold

1.4 Elect Director Larry R. Faulkner Mgmt For For

1.5 Elect Director Jay S. Fishman Mgmt For Withhold

Voter Rationale: We withheld on Mr. Fishman, the lead director. We remain concerned that the ExxonMobil board appears to delegate all contact with investors to management, thereby relying on filtered viewpoints. In addition, the board has too many active CEOs, including Mr. Fishman, and while executives add important dimension they are also exceedingly busy with their own companies and may lack the time and attention for a complex company such as ExxonMobil. In addition, this indicates very limited diversity and can result in entrenchment. We are also concerned that the board has not added any oil and gas expertise to its ranks.

1.6 Elect Director Henrietta H. Fore Mgmt For For

1.7 Elect Director Kenneth C. Frazier Mgmt For For

1.8 Elect Director Douglas R. Oberhelman Mgmt For For

1.9 Elect Director Samuel J. Palmisano Mgmt For For

1.10 Elect Director Steven S. Reinemund Mgmt For For

1.11 Elect Director Rex W. Tillerson Mgmt For For

1.12 Elect Director William C. Weldon Mgmt For For

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: We once again opposed the compensation plan and underscore our desire for the committee to tie some of its long-term equity awards to clear performance conditions, including using a relative measure of shareholder value that evaluates performance against an international and appropriate group of peers. The plan contains positive aspects, including rigorous vesting criteria and strong clawback provisions. However, we think the plan could be strengthened with some utilization of specific performance targets and disclosure of metrics in the short and long-term incentive plans. These metrics and targets should reflect a range of financial, operational as well as environmental and safety issues.

4 Require Independent Board Chairman SH Against For

5 Adopt Proxy Access Right SH Against For

Page 124 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Exxon Mobil Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

6 Require Director Nominee with Environmental SH Against For Experience Voter Rationale: We share the proponents concern that expertise in environmental matters related to oil and gas exploration and production are not sufficiently represented on the board.

7 Increase the Number of Females on the Board SH Against For

Voter Rationale: This proposal merits support not only due to the low levels of female representation on the board but also given the overall lack of diversity of backgrounds, since the board is formed mainly of CEOs/chairs or former CEO/chairs and a few academics.

8 Disclose Percentage of Females at Each SH Against Against Percentile of Compensation Voter Rationale: This proposal is overly prescriptive.

9 Report on Lobbying Payments and Policy SH Against For

10 Adopt Quantitative GHG Goals for Products and SH Against For Operations Voter Rationale: As in the previous years, we voted for this proposal because climate change presents ongoing and serious risks to shareholder value and there is room for the company to improve its transparency. We understand the company has set internal targets for energy efficiency and flaring reduction and has made good progress against these targets. While these are important, the company should take a more comprehensive approach to GHG emissions across the business particularly as it relies increasingly on unconventional sources that require more energy to produce. In the absence of a viable price for carbon, setting a greenhouse gas reduction target would demonstrate a stronger strategy for operating in carbon-constrained markets.

11 Report on the Result of Efforts to Minimize SH Against For Hydraulic Fracturing Impacts Voter Rationale: The company should report on possible risks and opportunities arising from processes used to extract natural gas from shale. There are concerns that serious environmental and public health risks have not been addressed thoroughly and may be subject to more stringent regulation in future.

Facebook, Inc.

Meeting Date: 06/11/2015 Country: USA Meeting Type: Annual Ticker: FB

Primary ISIN: US30303M1027 Primary SEDOL: B7TL820

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Marc L. Andreessen Mgmt For For

1.2 Elect Director Erskine B. Bowles Mgmt For For

Page 125 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Facebook, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.3 Elect Director Susan D. Desmond-Hellmann Mgmt For Withhold

Voter Rationale: The board should establish formal committees to oversee compensation, auditing, nominating and governance functions.

1.4 Elect Director Reed Hastings Mgmt For Withhold

Voter Rationale: We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1.5 Elect Director Jan Koum Mgmt For For

1.6 Elect Director Sheryl K. Sandberg Mgmt For For

1.7 Elect Director Peter A. Thiel Mgmt For For

1.8 Elect Director Mark Zuckerberg Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Amend Omnibus Stock Plan Mgmt For Against

Voter Rationale: The total cost of the equity plan is excessive. Furthermore, this plan allows for the re-pricing of underwater options without shareholder approval. Reducing the strike price of options already granted after the stock price has fallen undermines the employee incentive strategy and is not aligned with shareholders' interests. Moreover, plan renewal should be subject to shareholder approval. Additionally, the grant rate is too high, and may lead to excessive dilution.

4 Approve Recapitalization Plan for all Stock to SH Against For Have One-vote per Share Voter Rationale: "One share, one vote" is a fundamental element of good corporate governance. Companies should not create shares with impaired or enhanced voting rights.

5 Report on Sustainability SH Against For

6 Report on Human Rights Risk Assessment SH Against Abstain Process Voter Rationale: Once again, we did not support the proposal in light of the company's current level of disclosure regarding its marketing policies, but share the broader concern over risks associated with targeted advertising to children. Traditional media outlets have in some instances restricted the ability of food companies to advertise less nutritious products to child audiences. We request the board and management continually improve and strengthen its user safety guidelines and weigh potential risks associated with targeted advertising to children.

Fastenal Company

Meeting Date: 04/21/2015 Country: USA Meeting Type: Annual Ticker: FAST

Primary ISIN: US3119001044 Primary SEDOL: 2332262

Page 126 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Fastenal Company

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Willard D. Oberton Mgmt For For

1b Elect Director Michael J. Ancius Mgmt For For

1c Elect Director Michael J. Dolan Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1d Elect Director Leland J. Hein Mgmt For For

1e Elect Director Rita J. Heise Mgmt For For

1f Elect Director Darren R. Jackson Mgmt For For

1g Elect Director Hugh L. Miller Mgmt For For

1h Elect Director Scott A. Satterlee Mgmt For For

1i Elect Director Reyne K. Wisecup Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

Fidelity National Information Services, Inc.

Meeting Date: 05/27/2015 Country: USA Meeting Type: Annual Ticker: FIS

Primary ISIN: US31620M1062 Primary SEDOL: 2769796

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Ellen R. Alemany Mgmt For For

1b Elect Director William P. Foley, II Mgmt For For

1c Elect Director Thomas M. Hagerty Mgmt For For

1d Elect Director Keith W. Hughes Mgmt For For

1e Elect Director David K. Hunt Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

Page 127 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Fidelity National Information Services, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1f Elect Director Stephan A. James Mgmt For For

1g Elect Director Frank R. Martire Mgmt For For

1h Elect Director Richard N. Massey Mgmt For Against

Voter Rationale:

1i Elect Director Leslie M. Muma Mgmt For For

1j Elect Director Gary A. Norcross Mgmt For For

1k Elect Director James B. Stallings, Jr. Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Amend Omnibus Stock Plan Mgmt For For

4 Ratify KPMG LLP as Auditors Mgmt For For

Fifth Third Bancorp

Meeting Date: 04/14/2015 Country: USA Meeting Type: Annual Ticker: FITB

Primary ISIN: US3167731005 Primary SEDOL: 2336747

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Nicholas K. Akins Mgmt For For

1.2 Elect Director B. Evan Bayh, III Mgmt For For

1.3 Elect Director Katherine B. Blackburn Mgmt For For

1.4 Elect Director Ulysses L. Bridgeman, Jr. Mgmt For For

1.5 Elect Director Emerson L. Brumback Mgmt For For

1.6 Elect Director James P. Hackett Mgmt For For

1.7 Elect Director Gary R. Heminger Mgmt For Against

1.8 Elect Director Jewell D. Hoover Mgmt For For

1.9 Elect Director Kevin T. Kabat Mgmt For For

1.10 Elect Director Michael B. McCallister Mgmt For For

Page 128 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Fifth Third Bancorp

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.11 Elect Director Hendrik G. Meijer Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.12 Elect Director Marsha C. Williams Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice. Furthermore, plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay.

4 Advisory Vote on Say on Pay Frequency Mgmt One Year One Year

FMC Technologies, Inc.

Meeting Date: 05/06/2015 Country: USA Meeting Type: Annual Ticker: FTI

Primary ISIN: US30249U1016 Primary SEDOL: 2763561

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Mike R. Bowlin Mgmt For Against

Voter Rationale:

1b Elect Director Clarence P. Cazalot, Jr. Mgmt For For

1c Elect Director Eleazar de Carvalho Filho Mgmt For For

1d Elect Director C. Maury Devine Mgmt For For

1e Elect Director Claire S. Farley Mgmt For For

1f Elect Director John T. Gremp Mgmt For For

Voter Rationale:

1g Elect Director Thomas M. Hamilton Mgmt For Against

Voter Rationale:

Page 129 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

FMC Technologies, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1h Elect Director Peter Mellbye Mgmt For For

1i Elect Director Joseph H. Netherland Mgmt For Against

Voter Rationale:

1j Elect Director Peter Oosterveer Mgmt For For

1k Elect Director Richard A. Pattarozzi Mgmt For Against

Voter Rationale:

1l Elect Director James M. Ringler Mgmt For Against

Voter Rationale:

2 Ratify KPMG LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay. Additionally, while the board has identified some performance conditions for the equity awards, the annual time frame is too short to be considered long-term. We prefer to see performance periods between three and five years.

Foot Locker, Inc.

Meeting Date: 05/20/2015 Country: USA Meeting Type: Annual Ticker: FL

Primary ISIN: US3448491049 Primary SEDOL: 2980906

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Maxine Clark Mgmt For For

1b Elect Director Alan D. Feldman Mgmt For For

1c Elect Director Jarobin Gilbert Jr. Mgmt For Withhold

Voter Rationale:

1d Elect Director Richard A. Johnson Mgmt For For

Page 130 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Foot Locker, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

2 Ratify KPMG LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Ford Motor Company

Meeting Date: 05/14/2015 Country: USA Meeting Type: Annual Ticker: F

Primary ISIN: US3453708600 Primary SEDOL: 2615468

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1 Elect Director Stephen G. Butler Mgmt For For

2 Elect Director Kimberly A. Casiano Mgmt For For

3 Elect Director Anthony F. Earley, Jr. Mgmt For For

4 Elect Director Mark Fields Mgmt For For

5 Elect Director Edsel B. Ford II Mgmt For For

6 Elect Director William Clay Ford, Jr. Mgmt For For

7 Elect Director James P. Hackett Mgmt For For

8 Elect Director James H. Hance, Jr. Mgmt For For

9 Elect Director William W. Helman Iv Mgmt For For

10 Elect Director Jon M. Huntsman, Jr. Mgmt For For

11 Elect Director William E. Kennard Mgmt For For

12 Elect Director John C. Lechleiter Mgmt For Against

13 Elect Director Ellen R. Marram Mgmt For Against

Page 131 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Ford Motor Company

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

14 Elect Director Gerald L. Shaheen Mgmt For Against

Voter Rationale: We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders. Moreover, the lead director is not considered sufficiently independent to serve in such role. The nominating/governance committee should appoint a fully independent lead director.

15 Elect Director John L. Thornton Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

16 Ratify PricewaterhouseCoopers LLPas Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

17 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice. Furthermore, while the board has identified some performance conditions for the equity awards, the annual time frame is too short to be considered long-term. We prefer to see performance periods between three and five years.

18 Approve Recapitalization Plan for all Stock to SH Against For Have One-vote per Share Voter Rationale: "One share, one vote" is a fundamental element of good corporate governance. Companies should not create shares with impaired or enhanced voting rights.

19 Amend Bylaws to Call Special Meetings SH Against For

Voter Rationale: Holders of significant share capital should be entitled to call a special meeting. A total holding requirement of 5% is a suitable threshold to prevent abuse.

GameStop Corp.

Meeting Date: 06/23/2015 Country: USA Meeting Type: Annual Ticker: GME

Primary ISIN: US36467W1099 Primary SEDOL: B0LLFT5

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Daniel A. DeMatteo Mgmt For For

1.2 Elect Director Thomas N. Kelly, Jr. Mgmt For For

1.3 Elect Director Shane S. Kim Mgmt For For

1.4 Elect Director J. Paul Raines Mgmt For For

Page 132 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

GameStop Corp.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.5 Elect Director Gerald R. Szczepanski Mgmt For Against

Voter Rationale:

1.6 Elect Director Kathy P. Vrabeck Mgmt For For

1.7 Elect Director Lawrence S. Zilavy Mgmt For Against

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board. Furthermore, the lead director is not considered sufficiently independent to serve in such role. The nominating/governance committee should appoint a fully independent lead director.

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Gannett Co., Inc.

Meeting Date: 04/29/2015 Country: USA Meeting Type: Annual Ticker: GCI

Primary ISIN: US3647301015 Primary SEDOL: 2360304

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1a Elect Director John E. Cody Mgmt For For

1.1b Elect Director Howard D. Elias Mgmt For For

1.1c Elect Director Lidia Fonseca Mgmt For For

1.1d Elect Director John Jeffry Louis Mgmt For For

1.1e Elect Director Marjorie Magner Mgmt For For

1.1f Elect Director Gracia C. Martore Mgmt For For

1.1g Elect Director Scott K. McCune Mgmt For For

1.1h Elect Director Susan Ness Mgmt For For

1.1i Elect Director Tony A. Prophet Mgmt For For

1.1j Elect Director Neal Shapiro Mgmt For Against

Voter Rationale: The board imposed a forum selection clause without prior shareholder approval. The corporate governance committee should oppose measures that restrict investors' access to courts, and reverse the measure or, at the very least, put the matter to an investor vote.

Page 133 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Gannett Co., Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Amend Stock Ownership Limitations Mgmt For For

4 Amend Omnibus Stock Plan Mgmt For For

5 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: Plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay.

6 Pro-rata Vesting of Equity Plans SH Against For

Voter Rationale: In the case of a change of control, equity should only vest if an executive is not offered employment in the new company, a so-called double less than p/greater than Trigger.

General Dynamics Corporation

Meeting Date: 05/06/2015 Country: USA Meeting Type: Annual Ticker: GD

Primary ISIN: US3695501086 Primary SEDOL: 2365161

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Mary T. Barra Mgmt For For

1.2 Elect Director Nicholas D. Chabraja Mgmt For For

1.3 Elect Director James S. Crown Mgmt For Against

Voter Rationale:

1.4 Elect Director Rudy F. deLeon Mgmt For For

1.5 Elect Director William P. Fricks Mgmt For For

1.6 Elect Director John M. Keane Mgmt For For

1.7 Elect Director Lester L. Lyles Mgmt For For

1.8 Elect Director James N. Mattis Mgmt For For

1.9 Elect Director Phebe N. Novakovic Mgmt For For

Voter Rationale:

1.10 Elect Director William A. Osborn Mgmt For For

Page 134 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

General Dynamics Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.11 Elect Director Laura J. Schumacher Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

4 Require Independent Board Chairman SH Against For

Voter Rationale:

General Electric Company

Meeting Date: 04/22/2015 Country: USA Meeting Type: Annual Ticker: GE

Primary ISIN: US3696041033 Primary SEDOL: 2380498

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

A1 Elect Director W. Geoffrey Beattie Mgmt For For

A2 Elect Director John J. Brennan Mgmt For For

A3 Elect Director James I. Cash, Jr. Mgmt For Against

A4 Elect Director Francisco D'Souza Mgmt For For

A5 Elect Director Marijn E. Dekkers Mgmt For For

A6 Elect Director Susan J. Hockfield Mgmt For For

A7 Elect Director Jeffrey R. Immelt Mgmt For For

A8 Elect Director Andrea Jung Mgmt For Against

A9 Elect Director Robert W. Lane Mgmt For For

Page 135 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

General Electric Company

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

A10 Elect Director Rochelle B. Lazarus Mgmt For Against

A11 Elect Director James J. Mulva Mgmt For For

A12 Elect Director James E. Rohr Mgmt For For

A13 Elect Director Mary L. Schapiro Mgmt For For

A14 Elect Director Robert J. Swieringa Mgmt For Against

A15 Elect Director James S. Tisch Mgmt For Against

A16 Elect Director Douglas A. Warner, III Mgmt For Against

B1 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

B2 Ratify KPMG LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

C1 Provide for Cumulative Voting SH Against Against

Voter Rationale: In practice, cumulative voting rarely enhances the rights of minority shareholders and risks that the board will not achieve an appropriate balance of independence and objectivity.

C2 Provide Right to Act by Written Consent SH Against For

C3 Select One Director from Ranks of Retirees SH Against Against

C4 Adopt Holy Land Principles SH Against Abstain

C5 Pro-rata Vesting on Equity Plans SH Against For

Voter Rationale: In the case of a change of control, equity should only vest if an executive is not offered employment in the new company, a so-called double trigger.

Page 136 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

General Growth Properties, Inc.

Meeting Date: 04/16/2015 Country: USA Meeting Type: Annual Ticker: GGP

Primary ISIN: US3700231034 Primary SEDOL: B56VLR5

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Richard B. Clark Mgmt For For

1b Elect Director Mary Lou Fiala Mgmt For For

1c Elect Director J. Bruce Flatt Mgmt For For

1d Elect Director John K. Haley Mgmt For For

1e Elect Director Daniel B. Hurwitz Mgmt For For

1f Elect Director Brian W. Kingston Mgmt For For

1g Elect Director Sandeep Mathrani Mgmt For For

1h Elect Director David J. Neithercut Mgmt For For

1i Elect Director Mark R. Patterson Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

4 Performance Based Equity Awards SH Against For

Voter Rationale:

Performance-based equity incentive plans are essential and substantial rewards for below-median performance are unacceptable. The compensation policy should include at least one measure of the company's relative performance against an appropriate peer group.

General Motors Company

Meeting Date: 06/09/2015 Country: USA Meeting Type: Annual Ticker: GM

Primary ISIN: US37045V1008 Primary SEDOL: B665KZ5

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Joseph J. Ashton Mgmt For For

1b Elect Director Mary T. Barra Mgmt For For

1c Elect Director Stephen J. Girsky Mgmt For For

1d Elect Director Linda R. Gooden Mgmt For For

Page 137 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

General Motors Company

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1e Elect Director Joseph Jimenez, Jr. Mgmt For For

1f Elect Director Kathryn V. Marinello Mgmt For For

1g Elect Director Michael G. Mullen Mgmt For For

1h Elect Director James J. Mulva Mgmt For For

1i Elect Director Patricia F. Russo Mgmt For For

1j Elect Director Thomas M. Schoewe Mgmt For For

1k Elect Director Theodore M. Solso Mgmt For For

1l Elect Director Carol M. Stephenson Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

4 Require Independent Board Chairman SH Against For

Voter Rationale:

5 Provide for Cumulative Voting SH Against Against

Voter Rationale:

In practice, cumulative voting rarely enhances the rights of minotiry shareholders and risks that the board will not achieve an appropriate balance of independence and objectivity.

Genpact Limited

Meeting Date: 05/13/2015 Country: Bermuda Meeting Type: Annual Ticker: G

Primary ISIN: BMG3922B1072 Primary SEDOL: B23DBK6

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect N.V. Tyagarajan as Director Mgmt For For

1.2 Elect Robert G. Scott as Director Mgmt For Against

Voter Rationale:

Executive pay is not in line with company performance because the company has not adequately responded to last year's low say-on-pay vote results. The compensation committee should do more to respond to best practices in pay that help establish compensation packages that reward strong performance and build shareholder value over time.

Page 138 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Genpact Limited

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.3 Elect Amit Chandra as Director Mgmt For Against

Voter Rationale:

Directors with significant business ties to the company are not sufficiently independent to serve on key committtes.

1.4 Elect Laura Conigliaro as Director Mgmt For For

1.5 Elect David Humphrey as Director Mgmt For For

1.6 Elect James C. Madden as Director Mgmt For Against

Voter Rationale:

1.7 Elect Alex Mandl as Director Mgmt For For

1.8 Elect Mark Nunnelly as Director Mgmt For Against

Voter Rationale:

1.9 Elect Hanspeter Spek as Director Mgmt For For

1.10 Elect Mark Verdi as Director Mgmt For Against

Voter Rationale:

Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.

2 Ratify KPMG as Auditors Mgmt For For

Gilead Sciences, Inc.

Meeting Date: 05/06/2015 Country: USA Meeting Type: Annual Ticker: GILD

Primary ISIN: US3755581036 Primary SEDOL: 2369174

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director John F. Cogan Mgmt For Against

1b Elect Director Etienne F. Davignon Mgmt For Against

Page 139 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Gilead Sciences, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1c Elect Director Carla A. Hills Mgmt For Against

1d Elect Director Kevin E. Lofton Mgmt For Against

1e Elect Director John W. Madigan Mgmt For Against

1f Elect Director John C. Martin Mgmt For Against

1g Elect Director Nicholas G. Moore Mgmt For Against

1h Elect Director Richard J. Whitley Mgmt For Against

1i Elect Director Gayle E. Wilson Mgmt For Against

1j Elect Director Per Wold-Olsen Mgmt For Against

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

3 Amend Qualified Employee Stock Purchase Plan Mgmt For For

Page 140 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Gilead Sciences, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

5 Provide Right to Act by Written Consent SH Against For

6 Require Independent Board Chairman SH Against For

7 Report on Sustainability SH Against For

8 Report on Specialty Drug Pricing Risks SH Against For

Voter Rationale: Support for this proposal is merited as it encourages much welcomed enhanced disclosure, not least given the company's recent issues around its pricing practices which have come under investigation by regulators.

Google Inc.

Meeting Date: 06/03/2015 Country: USA Meeting Type: Annual Ticker: GOOG

Primary ISIN: US38259P7069 Primary SEDOL: BKM4JZ7

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Larry Page Mgmt For For

1.2 Elect Director Sergey Brin Mgmt For For

1.3 Elect Director Eric E. Schmidt Mgmt For For

1.4 Elect Director L. John Doerr Mgmt For Withhold

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence. Furthermore, executive pay is not in line with company performance. The compensation committee should do more to respond to best practices in pay that help establish compensation packages that reward strong performance and build shareholder value over time. Certain NEOs received outsized pay packages that lack any measurable connection to company performance goals. Additionally, disclosure regarding the pay determination process is limited.

1.5 Elect Director Diane B. Greene Mgmt For Withhold

Voter Rationale: Directors that may benefit from substantial philanthropic support from the company are not sufficiently independent to serve on key committtes.

Page 141 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Google Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.6 Elect Director John L. Hennessy Mgmt For Withhold

Voter Rationale: This director is not sufficiently independent to serve as the independent lead director. Furthermore, the lead director is not considered sufficiently independent to serve in such role. The nominating/governance committee should appoint a fully independent lead director. Moreover, we oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders. Additionally, directors that may benefit from substantial philanthropic support from the company are not sufficiently independent to serve on key committtes. Lastly, directors with significant business ties to the company are not sufficiently independent to serve on key committtes.

1.7 Elect Director Ann Mather Mgmt For For

1.8 Elect Director Alan R. Mulally Mgmt For For

1.9 Elect Director Paul S. Otellini Mgmt For Withhold

Voter Rationale: Executive pay is not in line with company performance. The compensation committee should do more to respond to best practices in pay that help establish compensation packages that reward strong performance and build shareholder value over time. Certain NEOs received outsized pay packages that lack any measurable connection to company performance goals. Additionally, disclosure regarding the pay determination process is limited.

1.10 Elect Director K. Ram Shriram Mgmt For Withhold

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence. Furthermore, directors that may benefit from substantial philanthropic support from the company are not sufficiently independent to serve on key committtes. Moreover, directors whose close family members are employed at the company are not sufficiently independent to serve on key board committees and should be considered affiliated directors. Lastly, executive pay is not in line with company performance. The compensation committee should do more to respond to best practices in pay that help establish compensation packages that reward strong performance and build shareholder value over time. Certain NEOs received outsized pay packages that lack any measurable connection to company performance goals. Additionally, disclosure regarding the pay determination process is limited.

1.11 Elect Director Shirley M. Tilghman Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Amend Omnibus Stock Plan Mgmt For Against

Voter Rationale: The total cost of the equity plan is excessive. Furthermore, this plan allows for the re-pricing of underwater options without shareholder approval. Reducing the strike price of options already granted after the stock price has fallen undermines the employee incentive strategy and is not aligned with shareholders' interests. Moreover, executive pay is not effectively linked to company performance. Performance targets should be clearly disclosed and stretching, and the compensation committee should do more to establish compensation packages that build shareholder value over time.

5 Report on Lobbying Payments and Policy SH Against For

6 Require a Majority Vote for the Election of SH Against For Directors Voter Rationale: Directors should receive majority support from shareholders in order to be elected. Plurality voting allows directors with only minority support to be appointed to the board. The board should take decisive action and introduce a binding majority voting standard.

Page 142 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Google Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

7 Report on Costs of Renewable Energy SH Against Against Investments Voter Rationale: The company already substantially addresses the issues raised in this proposal.

8 Report on Risks Associated with Repeal of SH Against Abstain Climate Change Policies Voter Rationale: Although we support the spirit of this proposal and believe that additional disclosure would be beneficial, we find the proposal overly prescriptive and its implementation impractical. We encourage the company to find an alternative to address the issues raised in this proposal in relation to its current disclosures.

Harley-Davidson, Inc.

Meeting Date: 04/25/2015 Country: USA Meeting Type: Annual Ticker: HOG

Primary ISIN: US4128221086 Primary SEDOL: 2411053

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director R. John Anderson Mgmt For For

1.2 Elect Director Richard I. Beattie Mgmt For Withhold

Voter Rationale:

1.3 Elect Director Michael J. Cave Mgmt For For

1.4 Elect Director George H. Conrades Mgmt For Withhold

Voter Rationale:

1.5 Elect Director Donald A. James Mgmt For Withhold

Voter Rationale:

1.6 Elect Director Matthew S. Levatich Mgmt For For

1.7 Elect Director Sara L. Levinson Mgmt For Withhold

Voter Rationale:

1.8 Elect Director N. Thomas Linebarger Mgmt For For

Page 143 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Harley-Davidson, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.9 Elect Director George L. Miles, Jr. Mgmt For Withhold

Voter Rationale:

1.10 Elect Director James A. Norling Mgmt For Withhold

Voter Rationale:

1.11 Elect Director Jochen Zeitz Mgmt For For

2 Adopt Majority Voting for Uncontested Election Mgmt For For of Directors Voter Rationale:

3 Amend Executive Incentive Bonus Plan Mgmt For For

4 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

5 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

HCA Holdings, Inc.

Meeting Date: 04/30/2015 Country: USA Meeting Type: Annual Ticker: HCA

Primary ISIN: US40412C1018 Primary SEDOL: B4MGBG6

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director R. Milton Johnson Mgmt For For

1.2 Elect Director Robert J. Dennis Mgmt For Withhold

1.3 Elect Director Nancy-Ann DeParle Mgmt For For

Page 144 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

HCA Holdings, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.4 Elect Director Thomas F. Frist, III Mgmt For For

1.5 Elect Director William R. Frist Mgmt For For

1.6 Elect Director Ann H. Lamont Mgmt For For

1.7 Elect Director Jay O. Light Mgmt For For

1.8 Elect Director Geoffrey G. Meyers Mgmt For For

1.9 Elect Director Michael W. Michelson Mgmt For For

1.10 Elect Director Wayne J. Riley Mgmt For For

1.11 Elect Director John W. Rowe Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

HCC Insurance Holdings, Inc.

Meeting Date: 05/20/2015 Country: USA Meeting Type: Annual Ticker: HCC

Primary ISIN: US4041321021 Primary SEDOL: 2400426

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Emmanuel T. Ballases Mgmt For For

1.2 Elect Director Lydia I. Beebe Mgmt For For

1.3 Elect Director Frank J. Bramanti Mgmt For For

1.4 Elect Director Walter M. Duer Mgmt For For

1.5 Elect Director Barbara J. Duganier Mgmt For For

1.6 Elect Director James C. Flagg Mgmt For Withhold

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence. We are concerned with this director's long tenure particularly as he serves as chair of the audit committee.

Page 145 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

HCC Insurance Holdings, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.7 Elect Director John N. Molbeck, Jr. Mgmt For For

1.8 Elect Director Susan Rivera Mgmt For For

1.9 Elect Director Hans D. Rohlf Mgmt For For

1.10 Elect Director Robert A. Rosholt Mgmt For For

1.11 Elect Director J. Mikesell Thomas Mgmt For For

1.12 Elect Director Christopher J.B. Williams Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

HCP, Inc.

Meeting Date: 04/30/2015 Country: USA Meeting Type: Annual Ticker: HCP

Primary ISIN: US40414L1098 Primary SEDOL: 2417578

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Brian G. Cartwright Mgmt For For

1b Elect Director Christine N. Garvey Mgmt For For

1c Elect Director David B. Henry Mgmt For For

1d Elect Director James P. Hoffmann Mgmt For For

1e Elect Director Lauralee E. Martin Mgmt For For

1f Elect Director Michael D. McKee Mgmt For Against

Voter Rationale:

1g Elect Director Peter L. Rhein Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1h Elect Director Joseph P. Sullivan Mgmt For Against

Voter Rationale:

Executives from acquired companies are not sufficiently independent to serve on key board committees and should be considered affiliated directors.

Page 146 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

HCP, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Proxy Access SH Against For

Voter Rationale:

Health Net, Inc.

Meeting Date: 05/07/2015 Country: USA Meeting Type: Annual Ticker: HNT

Primary ISIN: US42222G1085 Primary SEDOL: 2418623

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1A Elect Director Mary Anne Citrino Mgmt For For

1B Elect Director Theodore F. Craver, Jr. Mgmt For Against

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board.

1C Elect Director Vicki B. Escarra Mgmt For For

1D Elect Director Gale S. Fitzgerald Mgmt For Against

Voter Rationale:

1E Elect Director Jay M. Gellert Mgmt For For

1F Elect Director Roger F. Greaves Mgmt For For

1G Elect Director Douglas M. Mancino Mgmt For For

1H Elect Director George Miller Mgmt For For

1I Elect Director Bruce G. Willison Mgmt For Against

Voter Rationale:

Page 147 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Health Net, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1J Elect Director Frederick C. Yeager Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Amend Omnibus Stock Plan Mgmt For For

Hess Corporation

Meeting Date: 05/06/2015 Country: USA Meeting Type: Annual Ticker: HES

Primary ISIN: US42809H1077 Primary SEDOL: 2023748

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Rodney F. Chase Mgmt For For

1.2 Elect Director Terrence J. Checki Mgmt For For

1.3 Elect Director Harvey Golub Mgmt For For

1.4 Elect Director John B. Hess Mgmt For For

1.5 Elect Director Edith E. Holiday Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.6 Elect Director Risa Lavizzo-Mourey Mgmt For For

1.7 Elect Director David McManus Mgmt For For

1.8 Elect Director John H. Mullin, III Mgmt For For

1.9 Elect Director James H. Quigley Mgmt For For

1.10 Elect Director Robert N. Wilson Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: Plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay.

Page 148 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Hess Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

3 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

4 Amend Omnibus Stock Plan Mgmt For For

5 Proxy Access SH Against For

6 Report on Plans to Address Stranded Carbon SH Against For Asset Risks Voter Rationale: Climate change presents ongoing and serious risks to shareholder value. Additional information on the company's strategy and competitive positioning is merited. Companies should respond to the Carbon Disclosure Project and include information on its strategy in a sustainability report.

Hilton Worldwide Holdings Inc.

Meeting Date: 05/06/2015 Country: USA Meeting Type: Annual Ticker: HLT

Primary ISIN: US43300A1043 Primary SEDOL: BH3XFX2

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Christopher J. Nassetta Mgmt For For

1.2 Elect Director Jonathan D. Gray Mgmt For For

1.3 Elect Director Michael S. Chae Mgmt For Withhold

Voter Rationale:

For large, controlled US companies the board should still strive for 50% independent non-executive directors to ensure an appropriate balance of independence and objectivity.

1.4 Elect Director Tyler S. Henritze Mgmt For Withhold

Voter Rationale:

For large, controlled US companies the board should still strive for 50% independent non-executive directors to ensure an appropriate balance of independence and objectivity.

1.5 Elect Director Judith A. McHale Mgmt For For

1.6 Elect Director John G. Schreiber Mgmt For Withhold

Voter Rationale:

For large, controlled US companies the board should still strive for 50% independent non-executive directors to ensure an appropriate balance of independence and objectivity.

1.7 Elect Director Elizabeth A. Smith Mgmt For For

1.8 Elect Director Douglas M. Steenland Mgmt For For

Page 149 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Hilton Worldwide Holdings Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.9 Elect Director William J. Stein Mgmt For Withhold

Voter Rationale:

For large, controlled US companies the board should still strive for 50% independent non-executive directors to ensure an appropriate balance of independence and objectivity. Additionally, the compensation committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness.

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

HollyFrontier Corporation

Meeting Date: 05/13/2015 Country: USA Meeting Type: Annual Ticker: HFC

Primary ISIN: US4361061082 Primary SEDOL: B5VX1H6

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Douglas Y. Bech Mgmt For For

1b Elect Director Leldon E. Echols Mgmt For For

1c Elect Director R. Kevin Hardage Mgmt For For

1d Elect Director Michael C. Jennings Mgmt For For

Voter Rationale:

1e Elect Director Robert J. Kostelnik Mgmt For For

1f Elect Director James H. Lee Mgmt For For

1g Elect Director Franklin Myers Mgmt For For

Voter Rationale:

1h Elect Director Michael E. Rose Mgmt For For

1i Elect Director Tommy A. Valenta Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Page 150 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

HollyFrontier Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

3 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

4 Amend Omnibus Stock Plan Mgmt For For

5 Amend Omnibus Stock Plan Mgmt For For

6 Report on Sustainability, Including GHG Goals SH Against For

Voter Rationale:

Enhanced disclosure of social and environmental risks and opportunities for businesses is important. In line with integrated reporting trends, companies that exhibit best practices are able to demonstrate how their sustainability policies and practices directly influence the success of their performance over the long-term.. Furthermore, climate change presents ongoing and serious long-term operational and regulatory risks that can impact shareholder value. The company should assess and set goals to address its greenhouse gas emissions.

Host Hotels & Resorts, Inc.

Meeting Date: 05/14/2015 Country: USA Meeting Type: Annual Ticker: HST

Primary ISIN: US44107P1049 Primary SEDOL: 2567503

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Mary L. Baglivo Mgmt For For

1.2 Elect Director Sheila C. Bair Mgmt For For

1.3 Elect Director Terence C. Golden Mgmt For For

1.4 Elect Director Ann McLaughlin Korologos Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.5 Elect Director Richard E. Marriott Mgmt For For

1.6 Elect Director John B. Morse, Jr. Mgmt For For

1.7 Elect Director Walter C. Rakowich Mgmt For For

1.8 Elect Director Gordon H. Smith Mgmt For For

1.9 Elect Director W. Edward Walter Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

Page 151 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Host Hotels & Resorts, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

While the board has identified some performance conditions for the equity awards, the annual time frame is too short to be considered long-term. We prefer to see performance periods between three and five years. Additionally, plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay.

4 Amend Vote Requirements to Amend Bylaws SH Against For

Voter Rationale:

Supermajority provisions create artificial barriers for shareholders. Majority voting should be sufficient to change policies.

Humana Inc.

Meeting Date: 04/16/2015 Country: USA Meeting Type: Annual Ticker: HUM

Primary ISIN: US4448591028 Primary SEDOL: 2445063

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Kurt J. Hilzinger Mgmt For For

1b Elect Director Bruce D. Broussard Mgmt For For

1c Elect Director Frank A. D'Amelio Mgmt For For

1d Elect Director W. Roy Dunbar Mgmt For For

1e Elect Director David A. Jones, Jr. Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1f Elect Director William J. McDonald Mgmt For For

1g Elect Director William E. Mitchell Mgmt For For

1h Elect Director David B. Nash Mgmt For For

1i Elect Director James J. O'Brien Mgmt For For

1j Elect Director Marissa T. Peterson Mgmt For For

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Page 152 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Humana Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

Huntington Bancshares Incorporated

Meeting Date: 04/23/2015 Country: USA Meeting Type: Annual Ticker: HBAN

Primary ISIN: US4461501045 Primary SEDOL: 2445966

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Ann B. Crane Mgmt For For

1.2 Elect Director Steven G. Elliott Mgmt For For

1.3 Elect Director Michael J. Endres Mgmt For For

1.4 Elect Director John B. Gerlach, Jr. Mgmt For Withhold

1.5 Elect Director Peter J. Kight Mgmt For For

1.6 Elect Director Jonathan A. Levy Mgmt For For

1.7 Elect Director Eddie R. Munson Mgmt For For

1.8 Elect Director Richard W. Neu Mgmt For For

1.9 Elect Director David L. Porteous Mgmt For Withhold

Voter Rationale: Directors whose close family members are employed at the company are not sufficiently independent to serve on key board committees and should be considered affiliated directors.The board lacks both an independent chairman and a sufficiently independent lead director. At the very least, the nominating committee should appoint a fully independent lead director whose independence is not compromised.

1.10 Elect Director Kathleen H. Ransier Mgmt For For

1.11 Elect Director Stephen D. Steinour Mgmt For For

2 Approve Omnibus Stock Plan Mgmt For For

3 Ratify Auditors Mgmt For For

Page 153 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Huntington Bancshares Incorporated

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

4 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice. Furthermore, plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay.

Huntington Ingalls Industries, Inc.

Meeting Date: 04/30/2015 Country: USA Meeting Type: Annual Ticker: HII

Primary ISIN: US4464131063 Primary SEDOL: B40SSC9

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Paul D. Miller Mgmt For For

1.2 Elect Director C. Michael Petters Mgmt For For

1.3 Elect Director Karl M. von der Heyden Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

4 Declassify the Board of Directors Mgmt For For

Voter Rationale: The decision to declassify the board is laudable. The annual election of directors provides greater board accountability to shareholders and is appreciated.

Huntsman Corporation

Meeting Date: 05/07/2015 Country: USA Meeting Type: Annual Ticker: HUN

Primary ISIN: US4470111075 Primary SEDOL: B0650B9

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Peter R. Huntsman Mgmt For For

1.2 Elect Director Wayne A. Reaud Mgmt For For

1.3 Elect Director Alvin V. Shoemaker Mgmt For For

Page 154 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Huntsman Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

3 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Voter Rationale:

Ingram Micro Inc.

Meeting Date: 06/03/2015 Country: USA Meeting Type: Annual Ticker: IM

Primary ISIN: US4571531049 Primary SEDOL: 2489094

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Howard I. Atkins Mgmt For For

1.2 Elect Director David A. Barnes Mgmt For For

1.3 Elect Director Leslie Stone Heisz Mgmt For For

1.4 Elect Director John R. Ingram Mgmt For Against

Voter Rationale: We have been voting against a director given his long tenure (19 years) and his affiliation to the company as a former executive. This director serves in a key committee, which should be comprised entirely of truly independent members.

1.5 Elect Director Dale R. Laurance Mgmt For For

1.6 Elect Director Linda Fayne Levinson Mgmt For For

1.7 Elect Director Scott A. McGregor Mgmt For For

1.8 Elect Director Carol G. Mills Mgmt For For

1.9 Elect Director Alain Monie Mgmt For For

1.10 Elect Director Wade Oosterman Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: While most of the company’s long-term awards are performance based (80%), half of these are subject to a yearly performance timeframe instead of a multi-year performance period. We prefer that all long-term awards be subject to a multi-year performance period as this is better aligned with the long-term shareholders' interests.

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Page 155 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Ingredion Incorporated

Meeting Date: 05/20/2015 Country: USA Meeting Type: Annual Ticker: INGR

Primary ISIN: US4571871023 Primary SEDOL: B7K24P7

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Luis Aranguren-Trellez Mgmt For Against

Voter Rationale:

1b Elect Director David B. Fischer Mgmt For Against

Voter Rationale:

1c Elect Director Ilene S. Gordon Mgmt For For

Voter Rationale:

1d Elect Director Paul Hanrahan Mgmt For For

1e Elect Director Rhonda L. Jordan Mgmt For For

1f Elect Director Gregory B. Kenny Mgmt For Against

Voter Rationale:

1g Elect Director Barbara A. Klein Mgmt For For

1h Elect Director Victoria J. Reich Mgmt For For

1i Elect Director Dwayne A. Wilson Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice for large companies. Furthermore, plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay.

3 Approve Executive Incentive Bonus Plan Mgmt For For

4 Ratify KPMG LLP as Auditors Mgmt For For

Page 156 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Intel Corporation

Meeting Date: 05/21/2015 Country: USA Meeting Type: Annual Ticker: INTC

Primary ISIN: US4581401001 Primary SEDOL: 2463247

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Charlene Barshefsky Mgmt For For

1b Elect Director Aneel Bhusri Mgmt For For

1c Elect Director Andy D. Bryant Mgmt For For

1d Elect Director Susan L. Decker Mgmt For For

1e Elect Director John J. Donahoe Mgmt For Against

Voter Rationale:

This director's commitments, as a top officer and director at more than two public companies, are excessive and likely to jeopardize the ability to provide appropriate oversight on all boards. CEOs and CFOs make valuable board members but also face tremendous demands on their time. Furthermore, directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.

1f Elect Director Reed E. Hundt Mgmt For Against

Voter Rationale:

1g Elect Director Brian M. Krzanich Mgmt For For

1h Elect Director James D. Plummer Mgmt For For

1i Elect Director David S. Pottruck Mgmt For Against

Voter Rationale:

1j Elect Director Frank D. Yeary Mgmt For For

1k Elect Director David B. Yoffie Mgmt For Against

Voter Rationale:

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation Voter Rationale:

Russell 1K - Q1 2475

4 Amend Omnibus Stock Plan Mgmt For For

5 Amend Qualified Employee Stock Purchase Plan Mgmt For For

Page 157 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Intel Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

6 Adopt Holy Land Principles SH Against Abstain

Voter Rationale:

The proposal is overly prescriptive. We encourage companies to employ fair employment practices through the implementation and enforcement of robust equal opportunity employment policies.

7 Require Independent Board Chairman SH Against For

Voter Rationale:

8 Provide Vote Counting to Exclude Abstentions SH Against For

Voter Rationale:

Uninstructed broker votes should not be counted as indicating support for management automatically. Any uninstructed votes should be excluded from vote tallies.

Intercontinental Exchange, Inc.

Meeting Date: 05/15/2015 Country: USA Meeting Type: Annual Ticker: ICE

Primary ISIN: US45866F1049 Primary SEDOL: BFSSDS9

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Charles R. Crisp Mgmt For Against

1b Elect Director Jean-Marc Forneri Mgmt For Against

1c Elect Director Fred W. Hatfield Mgmt For For

1d Elect Director Terrence F. Martell Mgmt For For

1e Elect Director Callum McCarthy Mgmt For For

1f Elect Director Robert Reid Mgmt For Against

1g Elect Director Frederic V. Salerno Mgmt For Against

Page 158 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Intercontinental Exchange, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1h Elect Director Jeffrey C. Sprecher Mgmt For For

1i Elect Director Judith A. Sprieser Mgmt For For

1j Elect Director Vincent Tese Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: While the board has identified some performance conditions for the equity awards, the annual time frame is too short to be considered long-term. We prefer to see performance periods between three and five years. We also note some concerns with the company's benchmarking practices which may lead to pay ratcheting.

3 Ratify Ernst & Young LLP as Auditors Mgmt For For

4 Amend Article to Delete Provisions not Mgmt For For Applicable following the Sale of Euronext

International Paper Company

Meeting Date: 05/11/2015 Country: USA Meeting Type: Annual Ticker: IP

Primary ISIN: US4601461035 Primary SEDOL: 2465254

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director David J. Bronczek Mgmt For For

1b Elect Director William J. Burns Mgmt For For

1c Elect Director Ahmet C. Dorduncu Mgmt For For

1d Elect Director Ilene S. Gordon Mgmt For For

1e Elect Director Jay L. Johnson Mgmt For For

1f Elect Director Stacey J. Mobley Mgmt For For

1g Elect Director Joan E. Spero Mgmt For For

1h Elect Director Mark S. Sutton Mgmt For For

Voter Rationale:

1i Elect Director John L. Townsend, III Mgmt For For

1j Elect Director William G. Walter Mgmt For For

1k Elect Director J. Steven Whisler Mgmt For For

Page 159 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

International Paper Company

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1l Elect Director Ray G. Young Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Pro-rata Vesting of Equity Awards SH Against For

Voter Rationale:

In the case of a change of control, equity should only vest if an executive is not offered employment in the new company, a so-called double trigger.

Intuitive Surgical, Inc.

Meeting Date: 04/23/2015 Country: USA Meeting Type: Annual Ticker: ISRG

Primary ISIN: US46120E6023 Primary SEDOL: 2871301

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Craig H. Barratt Mgmt For For

1.2 Elect Director Gary S. Guthart Mgmt For For

1.3 Elect Director Eric H. Halvorson Mgmt For For

1.4 Elect Director Amal M. Johnson Mgmt For For

1.5 Elect Director Alan J. Levy Mgmt For Withhold

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence. Furthermore, this director is not sufficiently independent to serve as the independent lead director. Moreover, the lead director is not considered sufficiently independent to serve in such role. The nominating/governance committee should appoint a fully independent lead director.

1.6 Elect Director Mark J. Rubash Mgmt For For

1.7 Elect Director Lonnie M. Smith Mgmt For For

1.8 Elect Director George Stalk, Jr. Mgmt For For

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Page 160 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Intuitive Surgical, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

4 Amend Omnibus Stock Plan Mgmt For Against

Voter Rationale: The grant rate is too high, and may lead to excessive dilution.

ITT Corporation

Meeting Date: 05/08/2015 Country: USA Meeting Type: Annual Ticker: ITT

Primary ISIN: US4509112011 Primary SEDOL: B6Y9SW2

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Orlando D. Ashford Mgmt For For

1b Elect Director G. Peter D'Aloia Mgmt For For

1c Elect Director Donald DeFosset, Jr. Mgmt For For

1d Elect Director Christina A. Gold Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1e Elect Director Richard P. Lavin Mgmt For Against

Voter Rationale:

1f Elect Director Frank T. MacInnis Mgmt For Against

Voter Rationale:

1g Elect Director Rebecca A. McDonald Mgmt For For

1h Elect Director Timothy H. Powers Mgmt For For

1i Elect Director Denise L. Ramos Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Page 161 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Johnson & Johnson

Meeting Date: 04/23/2015 Country: USA Meeting Type: Annual Ticker: JNJ

Primary ISIN: US4781601046 Primary SEDOL: 2475833

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Mary Sue Coleman Mgmt For For

1b Elect Director D. Scott Davis Mgmt For For

1c Elect Director Ian E. L. Davis Mgmt For For

1d Elect Director Alex Gorsky Mgmt For For

1e Elect Director Susan L. Lindquist Mgmt For For

1f Elect Director Mark B. McClellan Mgmt For For

1g Elect Director Anne M. Mulcahy Mgmt For For

1h Elect Director William D. Perez Mgmt For For

1i Elect Director Charles Prince Mgmt For For

1j Elect Director A. Eugene Washington Mgmt For For

1k Elect Director Ronald A. Williams Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: We are concerned at the structure of the long-term incentive plan. Firstly, a larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice. Secondly, we also encourage targets to be disclosed for all of the long term incentive plan's performance metrics. Thirdly, we believe that there should be consideration for non-financial metrics in the pay plan which considers performance against factors such as product safety, regulatory fines, business ethics and other qualitative factors which are critical in the pharmaceutical industry. Finally, we question the use of three one-year sales goals in the LTIP - especially as there is a similar sales based target in the short-term annual bonus plan. We believe that the plan should be better structured to motivate genuine long-term outperformance compared to peers.

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

4 Policy Regarding Overextended Directors SH Against Against

5 Report on Consistency Between Corporate SH Against Abstain Values and Political Contributions Voter Rationale: The proposal is overly prescriptive but we share the proponent's concern over the potential risks of political and electioneering contributions that are inconsistent with the company's stated policies. The company should strive to align its political contribution expenditure with stated policies and strategies. The company provides reasonable disclosure of its political donations.

Page 162 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Johnson & Johnson

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

6 Require Independent Board Chairman SH Against For

Jones Lang LaSalle Incorporated

Meeting Date: 05/29/2015 Country: USA Meeting Type: Annual Ticker: JLL

Primary ISIN: US48020Q1076 Primary SEDOL: 2040640

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Hugo Bague Mgmt For For

1b Elect Director Samuel A. Di Piazza, Jr. Mgmt For For

1c Elect Director Colin Dyer Mgmt For For

1d Elect Director Dame DeAnne Julius Mgmt For For

1e Elect Director Ming Lu Mgmt For For

1f Elect Director Martin H. Nesbitt Mgmt For For

1g Elect Director Sheila A. Penrose Mgmt For Against

Voter Rationale:

1h Elect Director Ann Marie Petach Mgmt For For

1i Elect Director Shailesh Rao Mgmt For For

1j Elect Director David B. Rickard Mgmt For For

1k Elect Director Roger T. Staubach Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Ratify KPMG LLP as Auditors Mgmt For For

JPMorgan Chase & Co.

Meeting Date: 05/19/2015 Country: USA Meeting Type: Annual Ticker: JPM

Primary ISIN: US46625H1005 Primary SEDOL: 2190385

Page 163 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

JPMorgan Chase & Co.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Linda B. Bammann Mgmt For For

Voter Rationale: As a former employee, we encourage the board to re-categorise Linda B. Bammann as an affiliated director. While we support her being on the risk committee due to her experience and expertise developed in the industry, we urge the board from appointing her to other key board-level committees in the future.

1b Elect Director James A. Bell Mgmt For For

1c Elect Director Crandall C. Bowles Mgmt For For

1d Elect Director Stephen B. Burke Mgmt For For

1e Elect Director James S. Crown Mgmt For For

1f Elect Director James Dimon Mgmt For For

1g Elect Director Timothy P. Flynn Mgmt For For

1h Elect Director Laban P. Jackson, Jr. Mgmt For For

1i Elect Director Michael A. Neal Mgmt For For

1j Elect Director Lee R. Raymond Mgmt For Against

Voter Rationale: We do not consider this director to be sufficiently independent to serve as lead director and as chairman of the compensation committee. We are concerned with his long-tenure, his ongoing service on the board despite being over the board’s own recommended retirement age, and the overall lack of clarity regarding the planning of his succession. We also note our concerns regarding the recent amendments to the bank’s compensation plans which do not fully address long-standing shareholders’ concerns in relation the use of discretion and lack of concrete performance conditions.

1k Elect Director William C. Weldon Mgmt For For

Voter Rationale: We encourage the governance committee to address the concerns we raise in relation to key committee independence and board leadership independence.

Page 164 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

JPMorgan Chase & Co.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: While we commend the company for certain enhancements to its compensation structures, we are concerned that these improvements are undermined by other recent changes that continue to weaken the link between pay and performance. The company has for the first time disclosed specific forward-looking metrics that the board will take into consideration when determining long-term incentives. The introduction of return on tangible common equity (at approximately 15%), Tier 1 capital ratio (at approximately 12%, and overhead ratio (approximately 55%) is effectively a welcomed improvement to what was previously an entirely discretionary long-term incentive scheme and we are positively impressed that the company has implemented these changes in response to long-standing shareholders’ concerns. Nevertheless we believe that this could be further enhanced by disclosing the actual performance targets instead of approximations in order to demonstrate that there is a clear commitment to achieve concrete goals. In addition, the company has also modified the overall composition of the CEO’s compensation package with the introduction of a cash bonus which accounts for 40% of his total compensation. While we do not object to cash-based awards and agree that these are important elements of pay plans, we believe that they need to be clearly linked to well defined performance conditions and should not be discretionary to ensure appropriate alignment with investors’ interests and to avoid undue risk taking. In this case, we are concerned with the proportion of cash based awards that the board has allocated to the CEO’s total pay (we believe 40% of total pay is excessive), the absence of deferral conditions and we are also concerned with absence of a clear rationale as to how the quantum of the cash bonus (the highest the CEO has received since the financial crisis) is commensurate with recent performance. We therefore conclude that while the company has improved the disclosure of performance conditions employed in its long-term incentive plan (for which we would prefer to see specific targets), the introduction of the new bonus effectively implies that 40% of the CEO variable pay is discretionary, potentially weakening the link to performance and we are therefore unable to support management in its vote on compensation.

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

4 Amend Omnibus Stock Plan Mgmt For For

5 Require Independent Board Chairman SH Against For

Voter Rationale: We commend the bank for the proactive role it has taken in leading the debate around the separation of the CEO and chair roles in the US market and for the improvements it has implemented to its own leadership structure to enhance independence and accountability. Following intense engagement with shareholders in regards to its combined CEO and chair roles, JPMorgan strengthened its lead director role and added important responsibilities to it which resulted in a more chairman-like position. We nevertheless remain concerned with how the bank’s current leadership structure works in practice and whether it provides the expected independence and accountability. Specifically, we note concerns with the current lead director’s long tenure and the extent to which he fulfils what we consider key responsibilities of the role, including engagement with stakeholders such as the bank’s regulators and shareholders. We believe that this shareholder resolution, particularly given its proposed flexible implementation, is a timely opportunity for the company to further enhance the independence of its leadership and to introduce a structure that will provide better balance of powers and responsibilities in light of the growing complexities of the industry and the scale of the company’s operations. The CEO of the bank and the chair of the board are two distinctive and demanding jobs and a fully independent chairman with relevant experience and skills would be ideally suited to lead the board and to support the CEO. We therefore find merit in supporting this proposal.

6 Report on Lobbying Payments and Policy SH Against Abstain

Voter Rationale: The company provides reasonable disclosure of its political donations. However, it should enhance transparency around its public policy priorities, as well as its key relationships with trade associations that engage on lobbying on its behalf.

7 Amend Bylaws -- Call Special Meetings SH Against For

Voter Rationale: Given the ownership structure of the company the proposal merits support. The current 20% threshold to call special meetings is significantly challenging for investors to meet and although the proposed lower 10% threshold is still not easily attainable, it would be a notable improvement. In addition, in the absence of a proxy access provision, a lower threshold to call special meetings is a reasonable request that would further enhance shareholders’ rights.

Page 165 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

JPMorgan Chase & Co.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

8 Provide Vote Counting to Exclude Abstentions SH Against Against

Voter Rationale: The company’s current practices largely address the concerns raised in this proposal.

9 Report on Certain Vesting Program SH Against Against

Voter Rationale: The company's practices and policies substantially address the issues noted in this proposal. The existing vesting guidelines do not provide for automatic acceleration but an exception is allowed if requested by the government to prevent any potential conflicts of interest.

10 Disclosure of Recoupment Activity from Senior SH Against Against Officers Voter Rationale: The company's current practices already address the concerns raised in this proposal. In the past, when clawbacks have been triggered, the company has provided the relevant accompanying disclosures.

Kansas City Southern

Meeting Date: 05/07/2015 Country: USA Meeting Type: Annual Ticker: KSU

Primary ISIN: US4851703029 Primary SEDOL: 2607647

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Lu M. Cordova Mgmt For For

1.2 Elect Director Thomas A. McDonnell Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation Voter Rationale: At present, only about half of total executive compensation is in the form of long-term incentives and the alignment with long-term shareholders’ interests could be enhanced. We also note concerns with the company’s benchmarking of pay as it uses an unusually large and diverse peer group, including companies that may not be entirely relevant and this can potentially result in pay ratcheting, though so far there is no evidence of this. We will continue to monitor the company's pay practices.

4 Amend Bylaws -- Call Special Meetings SH Against For

Voter Rationale: Holders of significant share capital should be entitled to call a special meeting. A total holding requirement of 5% is a suitable threshold to prevent abuse.

KeyCorp

Meeting Date: 05/21/2015 Country: USA Meeting Type: Annual Ticker: KEY

Primary ISIN: US4932671088 Primary SEDOL: 2490911

Page 166 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

KeyCorp

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Bruce D. Broussard Mgmt For For

1.2 Elect Director Joseph A. Carrabba Mgmt For For

1.3 Elect Director Charles P. Cooley Mgmt For For

1.4 Elect Director Alexander M. Cutler Mgmt For Withhold

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence. Furthermore, the board lacks both an independent chairman and a sufficiently independent lead director. At the very least, the nominating committee should appoint a fully independent lead director whose independence is not compromised. Moreover, this director's commitments, as a top officer and director at more than two public companies, are excessive and likely to jeopardize the ability to provide appropriate oversight on all boards. CEOs and CFOs make valuable board members but also face tremendous demands on their time.

1.5 Elect Director H. James Dallas Mgmt For For

1.6 Elect Director Elizabeth R. Gile Mgmt For For

1.7 Elect Director Ruth Ann M. Gillis Mgmt For For

1.8 Elect Director William G. Gisel, Jr. Mgmt For For

1.9 Elect Director Richard J. Hipple Mgmt For Withhold

Voter Rationale:

1.10 Elect Director Kristen L. Manos Mgmt For For

1.11 Elect Director Beth E. Mooney Mgmt For For

Voter Rationale:

1.12 Elect Director Demos Parneros Mgmt For For

1.13 Elect Director Barbara R. Snyder Mgmt For For

1.14 Elect Director David K. Wilson Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Page 167 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

KeyCorp

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

4 Require Independent Board Chairman SH Against For

Voter Rationale:

Kimberly-Clark Corporation

Meeting Date: 04/30/2015 Country: USA Meeting Type: Annual Ticker: KMB

Primary ISIN: US4943681035 Primary SEDOL: 2491839

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director John F. Bergstrom Mgmt For Against

Voter Rationale:

1.2 Elect Director Abelardo E. Bru Mgmt For For

1.3 Elect Director Robert W. Decherd Mgmt For Against

Voter Rationale:

1.4 Elect Director Thomas J. Falk Mgmt For For

Voter Rationale:

1.5 Elect Director Fabian T. Garcia Mgmt For For

1.6 Elect Director Mae C. Jemison Mgmt For Against

Voter Rationale:

1.7 Elect Director James M. Jenness Mgmt For For

1.8 Elect Director Nancy J. Karch Mgmt For For

1.9 Elect Director Ian C. Read Mgmt For Against

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board.

1.10 Elect Director Linda Johnson Rice Mgmt For Against

Voter Rationale:

Page 168 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Kimberly-Clark Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.11 Elect Director Marc J. Shapiro Mgmt For Against

Voter Rationale:

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

4 Provide Right to Act by Written Consent SH Against For

Voter Rationale:

Kinder Morgan, Inc.

Meeting Date: 05/07/2015 Country: USA Meeting Type: Annual Ticker: KMI

Primary ISIN: US49456B1017 Primary SEDOL: B3NQ4P8

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Richard D. Kinder Mgmt For For

1.2 Elect Director Steven J. Kean Mgmt For For

1.3 Elect Director Ted A. Gardner Mgmt For For

1.4 Elect Director Anthony W. Hall, Jr. Mgmt For For

1.5 Elect Director Gary L. Hultquist Mgmt For Withhold

Voter Rationale: Hedging of company stock by executives should be prohibited as it potentially severs management alignment with shareholder interest.

1.6 Elect Director Ronald L. Kuehn, Jr. Mgmt For For

1.7 Elect Director Deborah A. MacDonald Mgmt For Withhold

Voter Rationale: Former employees or company founders are not sufficiently independent to serve on key board committees. Listing standard assumptions that independence can be restored after a five-year "cooling off" period are incorrect. Furthermore, hedging of company stock by executives should be prohibited as it potentially severs management alignment with shareholder interest.

1.8 Elect Director Michael J. Miller Mgmt For For

Page 169 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Kinder Morgan, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.9 Elect Director Michael C. Morgan Mgmt For For

1.10 Elect Director Arthur C. Reichstetter Mgmt For For

1.11 Elect Director Fayez Sarofim Mgmt For Withhold

Voter Rationale: Hedging of company stock by executives should be prohibited as it potentially severs management alignment with shareholder interest.

1.12 Elect Director C. Park Shaper Mgmt For For

1.13 Elect Director William A. Smith Mgmt For Withhold

Voter Rationale: Hedging of company stock by executives should be prohibited as it potentially severs management alignment with shareholder interest.

1.14 Elect Director Joel V. Staff Mgmt For Withhold

Voter Rationale: Hedging of company stock by executives should be prohibited as it potentially severs management alignment with shareholder interest.

1.15 Elect Director Robert F. Vagt Mgmt For For

1.16 Elect Director Perry M. Waughtal Mgmt For For

2 Approve Omnibus Stock Plan Mgmt For For

3 Approve Executive Incentive Bonus Plan Mgmt For For

4 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

5 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

6 Amend Charter to Eliminate Inapplicable Mgmt For For Provisions

7 Report on Capital Expenditure Strategy with SH Against For Respect to Climate Change Policy Voter Rationale: We voted for this proposal because climate change presents ongoing and serious financial risks. Additional information on the company's strategy and competitive positioning is merited.

8 Report on Methane Emissions Management and SH Against For Reduction Targets Voter Rationale: Climate change presents ongoing and serious long-term operational and regulatory risks that can impact shareholder value. The company should assess and set goals to address its greenhouse gas emissions. This is particularly important given the need for individual corporate action given the regulatory vacuum on this important issue in the United States.

9 Report on Sustainability SH Against For

Page 170 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Kohl's Corporation

Meeting Date: 05/14/2015 Country: USA Meeting Type: Annual Ticker: KSS

Primary ISIN: US5002551043 Primary SEDOL: 2496113

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Peter Boneparth Mgmt For For

1b Elect Director Steven A. Burd Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1c Elect Director Dale E. Jones Mgmt For For

1d Elect Director Kevin Mansell Mgmt For For

Voter Rationale:

1e Elect Director John E. Schlifske Mgmt For For

1f Elect Director Frank V. Sica Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1g Elect Director Stephanie A. Streeter Mgmt For Against

Voter Rationale:

This director's commitments, as a top officer and director at more than two public companies, are excessive and likely to jeopardize the ability to provide appropriate oversight on all boards. CEOs and CFOs make valuable board members but also face tremendous demands on their time. Furthermore, the board imposed a forum selection clause without prior shareholder approval. The corporate governance committee should oppose measures that restrict investors' access to courts, and reverse the measure or, at the very least, put the matter to an investor vote.

1h Elect Director Nina G. Vaca Mgmt For For

1i Elect Director Stephen E. Watson Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

4 Clawback of Incentive Payments SH Against For

Voter Rationale:

Page 171 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Kohl's Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

5 Adopt Proxy Access Right SH Against For

Voter Rationale:

Kraft Foods Group, Inc.

Meeting Date: 05/05/2015 Country: USA Meeting Type: Annual Ticker: KRFT

Primary ISIN: US50076Q1067 Primary SEDOL: B8P0S06

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1a Elect Director Abelardo E. Bru Mgmt For For

1.1b Elect Director John T. Cahill Mgmt For For

1.1c Elect Director L. Kevin Cox Mgmt For For

1.1d Elect Director Myra M. Hart Mgmt For For

1.1e Elect Director Peter B. Henry Mgmt For For

1.1f Elect Director Jeanne P. Jackson Mgmt For For

1.1g Elect Director Terry J. Lundgren Mgmt For Against

1.1h Elect Director Mackey J. McDonald Mgmt For For

1.1i Elect Director John C. Pope Mgmt For For

1.1j Elect Director E. Follin Smith Mgmt For For

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Page 172 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Kraft Foods Group, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

4 Report on Risks Associated with Use of Battery SH Against For Cages in Supply Chain Voter Rationale: Support for this proposal is merited as it would encourage the company to enhance its disclosure on this topic and raise it to levels comparable to its peers. It would also help inform investors on how the company manages potential sustainability risks from its sourcing operations.

5 Report on Supply Chain Impact on SH Against For Deforestation Voter Rationale: Enhanced disclosure of social and environmental risks and opportunities for businesses is important. In line with integrated reporting trends, companies that exhibit best practices are able to demonstrate how their sustainability policies and practices directly influence the success of their performance over the long-term.

6 Assess Environmental Impact of Non-Recyclable SH Against For Packaging Voter Rationale: Product take-back and recycling present ongoing risks and opportunities to long-term shareholder value. Additional information, including clear recycling targets, is merited.

7 Report on Sustainability, Including GHG Goals SH Against For

L Brands, Inc.

Meeting Date: 05/21/2015 Country: USA Meeting Type: Annual Ticker: LB

Primary ISIN: US5017971046 Primary SEDOL: B9M2WX3

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director E. Gordon Gee Mgmt For For

1.2 Elect Director Stephen D. Steinour Mgmt For Against

1.3 Elect Director Allan R. Tessler Mgmt For Against

Voter Rationale: Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board and should take immediate action to reduce the proportion of long standing directors and reduce the risk of entrenchment. Furthermore, directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability. Moreover, the board lacks both an independent chairman and a sufficiently independent lead director. At the very least, the nominating committee should appoint a fully independent lead director whose independence is not compromised.

Page 173 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

L Brands, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.4 Elect Director Abigail S. Wexner Mgmt For Against

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Amend Omnibus Stock Plan Mgmt For Against

Voter Rationale: The total cost of the equity plan is excessive.

4 Approve Executive Incentive Bonus Plan Mgmt For For

5 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

6 Reduce Supermajority Vote Requirement SH Against For

Voter Rationale: Supermajority provisions create artificial barriers for shareholders. Majority voting should be sufficient to change policies.

L-3 Communications Holdings, Inc.

Meeting Date: 05/05/2015 Country: USA Meeting Type: Annual Ticker: LLL

Primary ISIN: US5024241045 Primary SEDOL: 2247366

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1a Elect Director Ann E. Dunwoody Mgmt For For

1.1b Elect Director Lewis Kramer Mgmt For For

1.1c Elect Director Robert B. Millard Mgmt For Against

Voter Rationale:

1.1d Elect Director Vincent Pagano, Jr. Mgmt For Against

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board. Furthermore, the board lacks both an independent chairman and a sufficiently independent lead director. At the very least, the nominating committee should appoint a fully independent lead director whose independence is not compromised.

1.1e Elect Director H. Hugh Shelton Mgmt For For

1.1f Elect Director Arthur L. Simon Mgmt For Against

Voter Rationale:

Page 174 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

L-3 Communications Holdings, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1g Elect Director Michael T. Strianese Mgmt For For

Voter Rationale:

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Adopt the Jurisdiction of Incorporation as the Mgmt For Against Exclusive Forum for Certain Disputes Voter Rationale:

Measures that restrict investors' access to courts are not preferred practice and should be avoided.

5 Amend Bylaws to Call Special Meetings SH Against For

Voter Rationale:

Holders of significant share capital should be entitled to call a special meeting.

Laboratory Corporation of America Holdings

Meeting Date: 05/13/2015 Country: USA Meeting Type: Annual Ticker: LH

Primary ISIN: US50540R4092 Primary SEDOL: 2586122

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Kerrii B. Anderson Mgmt For For

1b Elect Director Jean-Luc Belingard Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1c Elect Director D. Gary Gilliland Mgmt For For

1d Elect Director David P. King Mgmt For For

Voter Rationale:

1e Elect Director Garheng Kong Mgmt For For

1f Elect Director Robert E. Mittelstaedt, Jr. Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

Page 175 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Laboratory Corporation of America Holdings

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1g Elect Director Peter M. Neupert Mgmt For Against

Voter Rationale:

1h Elect Director Adam H. Schechter Mgmt For For

1i Elect Director R. Sanders Williams Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Lear Corporation

Meeting Date: 05/14/2015 Country: USA Meeting Type: Annual Ticker: LEA

Primary ISIN: US5218652049 Primary SEDOL: B570P91

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Richard H. Bott Mgmt For For

1b Elect Director Thomas P. Capo Mgmt For For

1c Elect Director Jonathan F. Foster Mgmt For For

1d Elect Director Kathleen A. Ligocki Mgmt For For

1e Elect Director Conrad L. Mallett, Jr. Mgmt For For

1f Elect Director Donald L. Runkle Mgmt For For

1g Elect Director Matthew J. Simoncini Mgmt For For

1h Elect Director Gregory C. Smith Mgmt For For

1i Elect Director Henry D.G. Wallace Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

Page 176 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Level 3 Communications, Inc.

Meeting Date: 05/21/2015 Country: USA Meeting Type: Annual Ticker: LVLT

Primary ISIN: US52729N3089 Primary SEDOL: B5LL299

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director James O. Ellis, Jr. Mgmt For For

1.2 Elect Director Jeff K. Storey Mgmt For For

1.3 Elect Director Kevin P. Chilton Mgmt For For

1.4 Elect Director Steven T. Clontz Mgmt For For

1.5 Elect Director Irene M. Esteves Mgmt For For

1.6 Elect Director T. Michael Glenn Mgmt For For

1.7 Elect Director Spencer B. Hays Mgmt For For

1.8 Elect Director Michael J. Mahoney Mgmt For For

1.9 Elect Director Kevin W. Mooney Mgmt For For

1.10 Elect Director Peter Seah Lim Huat Mgmt For For

1.11 Elect Director Peter van Oppen Mgmt For Withhold

Voter Rationale:

We voted against this director as a member of the audit committee because shareholders should be given the opportunity to approve the auditors annually.

2 Approve Omnibus Stock Plan Mgmt For For

3 Renew Rights Plan (NOL Pill) Mgmt For Against

Voter Rationale:

The best defense against take-over is good management and a successful strategy rather than adoption of a poison pill.

4 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

5 Proxy Access SH Against For

Voter Rationale:

Page 177 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Lexmark International, Inc.

Meeting Date: 04/21/2015 Country: USA Meeting Type: Annual Ticker: LXK

Primary ISIN: US5297711070 Primary SEDOL: 2511908

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Ralph E. Gomory Mgmt For Against

Voter Rationale:

1b Elect Director Michael J. Maples Mgmt For Against

Voter Rationale:

1c Elect Director Stephen R. Hardis Mgmt For Against

Voter Rationale:

1d Elect Director William R. Fields Mgmt For Against

Voter Rationale:

1e Elect Director Robert Holland, Jr. Mgmt For Against

Voter Rationale:

1f Elect Director Jared L. Cohon Mgmt For For

1g Elect Director J. Edward Coleman Mgmt For For

1h Elect Director Sandra L. Helton Mgmt For For

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Amend Non-Employee Director Omnibus Stock Mgmt For For Plan

Page 178 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Liberty Interactive Corporation

Meeting Date: 06/02/2015 Country: USA Meeting Type: Annual Ticker: QVCA

Primary ISIN: US53071M1045 Primary SEDOL: B144703

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Michael A. George Mgmt For Withhold

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1.2 Elect Director Gregory B. Maffei Mgmt For For

Voter Rationale:

Directors are expected to hold six or fewer directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time. Furthermore, this director's commitments, as a top officer and director at more than two public companies, are excessive and likely to jeopardize the ability to provide appropriate oversight on all boards. CEOs and CFOs make valuable board members but also face tremendous demands on their time.Moreover, we oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1.3 Elect Director M. LaVoy Robison Mgmt For Withhold

Voter Rationale:

Directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability. Furthermore, we oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders. Moreover, executives that sit on multiple outside public boards risk not having time and energy to discharge their role properly, particularly during unexpected company situations. The CEO's current outside commitments should come under review of the board.

2 Approve the Group Name Change Proposal Mgmt For For

3 Increase Authorized Common Stock Mgmt For Against

Voter Rationale:

This proposal is not sufficiently persuasive about the need for the additional authorization of stock.

4 Ratify KPMG LLP as Auditors Mgmt For For

Lincoln National Corporation

Meeting Date: 05/21/2015 Country: USA Meeting Type: Annual Ticker: LNC

Primary ISIN: US5341871094 Primary SEDOL: 2516378

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director George W. Henderson, III Mgmt For For

Page 179 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Lincoln National Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.2 Elect Director Eric G. Johnson Mgmt For Against

Voter Rationale:

1.3 Elect Director M. Leanne Lachman Mgmt For Against

Voter Rationale:

1.4 Elect Director Isaiah Tidwell Mgmt For Against

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board.

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice for large companies. Furthermore, plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay.

Lockheed Martin Corporation

Meeting Date: 04/23/2015 Country: USA Meeting Type: Annual Ticker: LMT

Primary ISIN: US5398301094 Primary SEDOL: 2522096

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1a Elect Director Daniel F. Akerson Mgmt For For

1.1b Elect Director Nolan D. Archibald Mgmt For Against

Voter Rationale:

1.1c Elect Director Rosalind G. Brewer Mgmt For For

1.1d Elect Director David B. Burritt Mgmt For For

1.1e Elect Director James O. Ellis, Jr. Mgmt For For

1.1f Elect Director Thomas J. Falk Mgmt For For

Page 180 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Lockheed Martin Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1g Elect Director Marillyn A. Hewson Mgmt For For

Voter Rationale:

1.1h Elect Director Gwendolyn S. King Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.1i Elect Director James M. Loy Mgmt For For

1.1j Elect Director Joseph W. Ralston Mgmt For For

1.1k Elect Director Anne Stevens Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Provide Right to Act by Written Consent SH Against For

Voter Rationale:

5 Report on Lobbying Payments and Policy SH Against Abstain

Voter Rationale:

Lowe's Companies, Inc.

Meeting Date: 05/29/2015 Country: USA Meeting Type: Annual Ticker: LOW

Primary ISIN: US5486611073 Primary SEDOL: 2536763

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Raul Alvarez Mgmt For For

1.2 Elect Director David W. Bernauer Mgmt For For

1.3 Elect Director Angela F. Braly Mgmt For For

1.4 Elect Director Laurie Z. Douglas Mgmt For For

1.5 Elect Director Richard W. Dreiling Mgmt For For

Page 181 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Lowe's Companies, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.6 Elect Director Robert L. Johnson Mgmt For For

1.7 Elect Director Marshall O. Larsen Mgmt For For

1.8 Elect Director Richard K. Lochridge Mgmt For Withhold

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.9 Elect Director James H. Morgan Mgmt For For

1.10 Elect Director Robert A. Niblock Mgmt For For

Voter Rationale:

1.11 Elect Director Eric C. Wiseman Mgmt For Withhold

Voter Rationale:

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

3 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Voter Rationale:

LyondellBasell Industries NV

Meeting Date: 05/06/2015 Country: Netherlands Meeting Type: Annual Ticker: LYB

Primary ISIN: NL0009434992 Primary SEDOL: B3SPXZ3

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Robin Buchanan Supervisory Board Mgmt For For

1b Elect Stephen F. Cooper to Supervisory Board Mgmt For Against

Voter Rationale:

1c Elect Isabella D. Goren to Supervisory Board Mgmt For For

1d Elect Robert G. Gwin to Supervisory Board Mgmt For For

2a Elect Kevin W. Brown to Management Board Mgmt For For

Page 182 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

LyondellBasell Industries NV

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

2b Elect Jeffrey A. Kaplan to Management Board Mgmt For For

3 Adopt Financial Statements and Statutory Mgmt For For Reports

4 Approve Discharge of Management Board Mgmt For For

5 Approve Discharge of Supervisory Board Mgmt For For

6 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

7 Ratify PricewaterhouseCoopers Accountants Mgmt For For N.V. as Auditors

8 Approve Dividends of USD 2.80 Per Share Mgmt For For

9 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

10 Authorize Board to Issue Shares up to 20 Mgmt For Against Percent of Authorized Capital Voter Rationale:

Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.

11 Authorize Board to Exclude Preemptive Rights Mgmt For Against from Share Issuances Voter Rationale:

Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.

12 Amend Qualified Employee Stock Purchase Plan Mgmt For For

13 Authorize Repurchase of Up to 10 Percent of Mgmt For For Issued Share Capital

Macy's, Inc.

Meeting Date: 05/15/2015 Country: USA Meeting Type: Annual Ticker: M

Primary ISIN: US55616P1049 Primary SEDOL: 2345022

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Stephen F. Bollenbach Mgmt For For

1b Elect Director John A. Bryant Mgmt For For

1c Elect Director Deirdre P. Connelly Mgmt For For

Page 183 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Macy's, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1d Elect Director Meyer Feldberg Mgmt For Against

Voter Rationale:

1e Elect Director Leslie D. Hale Mgmt For For

1f Elect Director Sara Levinson Mgmt For Against

Voter Rationale:

1g Elect Director Terry J. Lundgren Mgmt For For

Voter Rationale:

1h Elect Director Joseph Neubauer Mgmt For Against

Voter Rationale:

1i Elect Director Joyce M. Roche Mgmt For Against

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board. Furthermore, the board lacks both an independent chairman and a sufficiently independent lead director. At the very least, the nominating committee should appoint a fully independent lead director whose independence is not compromised. Moreover, executives that sit on multiple outside public boards risk not having time and energy to discharge their role properly, particularly during unexpected company situations. The CEO's current outside commitments should come under review of the board.

1j Elect Director Paul C. Varga Mgmt For For

1k Elect Director Craig E. Weatherup Mgmt For Against

Voter Rationale:

1l Elect Director Marna C. Whittington Mgmt For Against

Voter Rationale:

1m Elect Director Annie Young-Scrivner Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Page 184 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Magna International Inc.

Meeting Date: 05/07/2015 Country: Canada Meeting Type: Annual Ticker: MG

Primary ISIN: CA5592224011 Primary SEDOL: 2554475

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Scott B. Bonham Mgmt For For

1.2 Elect Director Peter G. Bowie Mgmt For For

1.3 Elect Director J. Trevor Eyton Mgmt For For

1.4 Elect Director V. Peter Harder Mgmt For For

1.5 Elect Director Lady Barbara Judge Mgmt For For

1.6 Elect Director Kurt J. Lauk Mgmt For For

1.7 Elect Director Cynthia A. Niekamp Mgmt For For

1.8 Elect Director Indira V. Samarasekera Mgmt For For

1.9 Elect Director Donald J. Walker Mgmt For For

1.10 Elect Director Lawrence D. Worrall Mgmt For For

1.11 Elect Director William L. Young Mgmt For For

2 Approve Deloitte LLP as Auditors and Authorize Mgmt For For Board to Fix Their Remuneration

3 Advisory Vote on Executive Compensation Mgmt For For Approach

Marathon Oil Corporation

Meeting Date: 04/29/2015 Country: USA Meeting Type: Annual Ticker: MRO

Primary ISIN: US5658491064 Primary SEDOL: 2910970

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1a Elect Director Gregory H. Boyce Mgmt For Against

Page 185 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Marathon Oil Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1b Elect Director Pierre Brondeau Mgmt For Against

1.1c Elect Director Chadwick C. Deaton Mgmt For For

1.1d Elect Director Marcela E. Donadio Mgmt For For

1.1e Elect Director Philip Lader Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.1f Elect Director Michael E. J. Phelps Mgmt For For

1.1g Elect Director Dennis H. Reilley Mgmt For For

1.1h Elect Director Lee M. Tillman Mgmt For For

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

4 Proxy Access SH Against For

5 Report on Capital Expenditure Strategy with SH Against For Respect to Climate Change Policy Voter Rationale: We voted for this proposal because climate change presents ongoing and serious financial risks. Additional information on the company's strategy and competitive positioning is merited.

Marathon Petroleum Corporation

Meeting Date: 04/29/2015 Country: USA Meeting Type: Annual Ticker: MPC

Primary ISIN: US56585A1025 Primary SEDOL: B3K3L40

Page 186 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Marathon Petroleum Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director David A. Daberko Mgmt For Withhold

Voter Rationale: Directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability. Furthermore, executives that sit on multiple outside public boards risk not having time and energy to discharge their role properly, particularly during unexpected company situations. The CEO's current outside commitments should come under review of the board.

1.2 Elect Director Donna A. James Mgmt For For

1.3 Elect Director James E. Rohr Mgmt For For

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

4 Adopt Quantitative GHG Goals for Products and SH Against For Operations Voter Rationale: Climate change presents ongoing and serious long-term operational and regulatory risks that can impact shareholder value. The company should assess and set goals to address its greenhouse gas emissions. This is particularly important given the need for individual corporate action given the regulatory vacuum on this important issue in the United States.

MarkWest Energy Partners, L.P.

Meeting Date: 06/03/2015 Country: USA Meeting Type: Annual Ticker: MWE

Primary ISIN: US5707591005 Primary SEDOL: 2849160

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Frank M. Semple Mgmt For For

Voter Rationale:

1.2 Elect Director Donald D. Wolf Mgmt For For

Page 187 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

MarkWest Energy Partners, L.P.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.3 Elect Director Michael L. Beatty Mgmt For Withhold

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders. Furthermore, the compensation committee should be independent and this director's membership could hamper the committee's impartiality and effectiveness. Moreover, directors with significant business ties to the company are not sufficiently independent to serve on key committtes.

1.4 Elect Director William A. Bruckmann, III Mgmt For For

1.5 Elect Director Donald C. Heppermann Mgmt For Withhold

Voter Rationale:

1.6 Elect Director Randall J. Larson Mgmt For For

1.7 Elect Director Anne E. Fox Mounsey Mgmt For Withhold

Voter Rationale:

1.8 Elect Director William P. Nicoletti Mgmt For Withhold

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

MasterCard Incorporated

Meeting Date: 06/09/2015 Country: USA Meeting Type: Annual Ticker: MA

Primary ISIN: US57636Q1040 Primary SEDOL: B121557

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Richard Haythornthwaite Mgmt For For

1b Elect Director Ajay Banga Mgmt For For

1c Elect Director Silvio Barzi Mgmt For For

1d Elect Director David R. Carlucci Mgmt For For

1e Elect Director Steven J. Freiberg Mgmt For For

1f Elect Director Julius Genachowski Mgmt For For

1g Elect Director Merit E. Janow Mgmt For For

1h Elect Director Nancy J. Karch Mgmt For For

Page 188 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

MasterCard Incorporated

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1i Elect Director Marc Olivie Mgmt For For

1j Elect Director Rima Qureshi Mgmt For For

1k Elect Director Jose Octavio Reyes Lagunes Mgmt For For

1l Elect Director Jackson P. Tai Mgmt For For

1m Elect Director Edward Suning Tian Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: We have been voting against the company’s pay plan for a number of years given that less than one third of equity awards are linked to performance. We expect at least half of long-term incentives to be subject to specific performance conditions and therefore continue to be unable to support the plan.

3 Amend Executive Incentive Bonus Plan Mgmt For For

4 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale:

McGraw Hill Financial, Inc.

Meeting Date: 04/29/2015 Country: USA Meeting Type: Annual Ticker: MHFI

Primary ISIN: US5806451093 Primary SEDOL: 2551443

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Winfried Bischoff Mgmt For Against

Voter Rationale:

1.2 Elect Director William D. Green Mgmt For For

1.3 Elect Director Charles E. Haldeman, Jr. Mgmt For For

1.4 Elect Director Rebecca Jacoby Mgmt For For

1.5 Elect Director Robert P. McGraw Mgmt For Against

Voter Rationale:

1.6 Elect Director Hilda Ochoa-Brillembourg Mgmt For For

1.7 Elect Director Douglas L. Peterson Mgmt For For

Page 189 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

McGraw Hill Financial, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.8 Elect Director Michael Rake Mgmt For For

1.9 Elect Director Edward B. Rust, Jr. Mgmt For Against

Voter Rationale:

1.10 Elect Director Kurt L. Schmoke Mgmt For For

1.11 Elect Director Sidney Taurel Mgmt For Against

Voter Rationale:

1.12 Elect Director Richard E. Thornburgh Mgmt For For

2 Amend Omnibus Stock Plan Mgmt For For

Voter Rationale:

The total cost of the equity plan is excessive.

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

4 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

5 Require Independent Board Chairman SH Against For

Voter Rationale:

Mead Johnson Nutrition Company

Meeting Date: 04/30/2015 Country: USA Meeting Type: Annual Ticker: MJN

Primary ISIN: US5828391061 Primary SEDOL: B4W9F29

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1a Elect Director Steven M. Altschuler Mgmt For For

1.1b Elect Director Howard B. Bernick Mgmt For For

1.1c Elect Director Kimberly A. Casiano Mgmt For For

1.1d Elect Director Anna C. Catalano Mgmt For For

1.1e Elect Director Celeste A. Clark Mgmt For For

Page 190 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Mead Johnson Nutrition Company

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1f Elect Director James M. Cornelius Mgmt For For

1.1g Elect Director Stephen W. Golsby Mgmt For For

1.1h Elect Director Michael Grobstein Mgmt For For

1.1i Elect Director Peter Kasper Jakobsen Mgmt For For

1.1j Elect Director Peter G. Ratcliffe Mgmt For For

1.1k Elect Director Michael A. Sherman Mgmt For For

1.1l Elect Director Elliott Sigal Mgmt For For

1.1m Elect Director Robert S. Singer Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

3 Amend Omnibus Stock Plan Mgmt For For

4 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Merck & Co., Inc.

Meeting Date: 05/26/2015 Country: USA Meeting Type: Annual Ticker: MRK

Primary ISIN: US58933Y1055 Primary SEDOL: 2778844

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Leslie A. Brun Mgmt For For

1b Elect Director Thomas R. Cech Mgmt For For

1c Elect Director Kenneth C. Frazier Mgmt For For

Voter Rationale:

1d Elect Director Thomas H. Glocer Mgmt For For

1e Elect Director William B. Harrison, Jr. Mgmt For For

1f Elect Director C. Robert Kidder Mgmt For For

1g Elect Director Rochelle B. Lazarus Mgmt For For

1h Elect Director Carlos E. Represas Mgmt For For

Page 191 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Merck & Co., Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1i Elect Director Patricia F. Russo Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1j Elect Director Craig B. Thompson Mgmt For For

1k Elect Director Wendell P. Weeks Mgmt For For

1l Elect Director Peter C. Wendell Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

4 Amend Omnibus Stock Plan Mgmt For For

5 Amend Executive Incentive Bonus Plan Mgmt For For

6 Provide Right to Act by Written Consent SH Against For

Voter Rationale:

7 Pro-rata Vesting of Equity Awards SH Against For

Voter Rationale:

In the case of a change of control, equity should only vest if an executive is not offered employment in the new company, a so-called double trigger.

MetLife, Inc.

Meeting Date: 04/28/2015 Country: USA Meeting Type: Annual Ticker: MET

Primary ISIN: US59156R1086 Primary SEDOL: 2573209

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Cheryl W. Grise Mgmt For For

1.2 Elect Director Carlos M. Gutierrez Mgmt For For

1.3 Elect Director R. Glenn Hubbard Mgmt For For

1.4 Elect Director Steven A. Kandarian Mgmt For For

Voter Rationale:

1.5 Elect Director Alfred F. Kelly, Jr. Mgmt For For

1.6 Elect Director Edward J. Kelly, III Mgmt For For

Page 192 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

MetLife, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.7 Elect Director William E. Kennard Mgmt For For

1.8 Elect Director James M. Kilts Mgmt For For

1.9 Elect Director Catherine R. Kinney Mgmt For For

1.10 Elect Director Denise M. Morrison Mgmt For For

1.11 Elect Director Kenton J. Sicchitano Mgmt For For

1.12 Elect Director Lulu C. Wang Mgmt For For

2a Reduce Supermajority Vote Requirement to Mgmt For For Amend Certificate of Incorporation Voter Rationale:

Board efforts to reduce supermajority provisions are appreciated, as they create artificial barriers for shareholders. Majority voting should be sufficient to change policies.

2b Reduce Supermajority Vote Requirement to Mgmt For For Amend Bylaws Voter Rationale:

Board efforts to reduce supermajority provisions are appreciated, as they create artificial barriers for shareholders. Majority voting should be sufficient to change policies.

3 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

4 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Moody's Corporation

Meeting Date: 04/14/2015 Country: USA Meeting Type: Annual Ticker: MCO

Primary ISIN: US6153691059 Primary SEDOL: 2252058

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Jorge A. Bermudez Mgmt For For

1.2 Elect Director Kathryn M. Hill Mgmt For For

1.3 Elect Director Leslie F. Seidman Mgmt For For

1.4 Elect Director Ewald Kist Mgmt For For

1.5 Elect Director Henry A. McKinnell, Jr. Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.6 Elect Director John K. Wulff Mgmt For For

Page 193 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Moody's Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

2 Ratify KPMG LLP as Auditors Mgmt For For

3 Amend Executive Incentive Bonus Plan Mgmt For For

4 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

Morgan Stanley

Meeting Date: 05/19/2015 Country: USA Meeting Type: Annual Ticker: MS

Primary ISIN: US6174464486 Primary SEDOL: 2262314

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Erskine B. Bowles Mgmt For For

1b Elect Director Thomas H. Glocer Mgmt For For

1c Elect Director James P. Gorman Mgmt For For

1d Elect Director Robert H. Herz Mgmt For For

1e Elect Director Klaus Kleinfeld Mgmt For Against

1f Elect Director Jami Miscik Mgmt For For

1g Elect Director Donald T. Nicolaisen Mgmt For For

1h Elect Director Hutham S. Olayan Mgmt For For

1i Elect Director James W. Owens Mgmt For For

1j Elect Director Ryosuke Tamakoshi Mgmt For For

1k Elect Director Masaaki Tanaka Mgmt For For

1l Elect Director Perry M. Traquina Mgmt For For

1m Elect Director Laura D. Tyson Mgmt For For

1n Elect Director Rayford Wilkins, Jr. Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Page 194 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Morgan Stanley

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation Voter Rationale: While short term incentives remain largely discretionary as is the case with the company’s peers, the disclosures provide ample insight into how the compensation committee exercises such discretion in alignment with performance. The majority of long-term awards are performance based and linked to concrete targets. The company’s performance has improved notably and most of the pre-established performance conditions have been met. However, return on equity performance did not meet expectations but the company provided clear information as to how it intends to meet its goals in regards to this metric. Lastly, a significant proportion – although not a majority – of long-term performance awards are cash based and we encourage the company to increase the proportion of equity incentives and further strengthen the alignment with shareholders’ interests. Overall we find that pay is reasonably linked to performance and therefore support management’s vote on compensation.

4 Amend Omnibus Stock Plan Mgmt For For

5 Report on Lobbying Payments and Policy SH Against For

6 Provide Vote Counting to Exclude Abstentions SH Against Against

Voter Rationale: The company's existing policies and practices substantially address the issues raised in this proposal.

7 Report on Certain Vesting Program SH Against For

Murphy Oil Corporation

Meeting Date: 05/13/2015 Country: USA Meeting Type: Annual Ticker: MUR

Primary ISIN: US6267171022 Primary SEDOL: 2611206

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director T. Jay Collins Mgmt For For

1b Elect Director Steven A. Cosse Mgmt For For

1c Elect Director Claiborne P. Deming Mgmt For For

1d Elect Director Lawrence R. Dickerson Mgmt For For

1e Elect Director Roger W. Jenkins Mgmt For For

1f Elect Director James V. Kelley Mgmt For For

Page 195 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Murphy Oil Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1g Elect Director Walentin Mirosh Mgmt For For

1h Elect Director R. Madison Murphy Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1i Elect Director Jeffrey W. Nolan Mgmt For For

1j Elect Director Neal E. Schmale Mgmt For For

1k Elect Director Laura A. Sugg Mgmt For For

1l Elect Director Caroline G. Theus Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify KPMG LLP as Auditors Mgmt For For

Voter Rationale:

4 Proxy Access SH Against For

Voter Rationale:

MURPHY USA INC.

Meeting Date: 05/06/2015 Country: USA Meeting Type: Annual Ticker: MUSA

Primary ISIN: US6267551025 Primary SEDOL: BCZWJ63

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Fred L. Holliger Mgmt For Withhold

Voter Rationale:

1.2 Elect Director James W. Keyes Mgmt For For

1.3 Elect Director Diane N. Landen Mgmt For For

Page 196 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

MURPHY USA INC.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify KPMG LLP as Auditors Mgmt For For

Nabors Industries Ltd.

Meeting Date: 06/02/2015 Country: Bermuda Meeting Type: Annual Ticker: NBR

Primary ISIN: BMG6359F1032 Primary SEDOL: 2963372

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director James R. Crane Mgmt For Withhold

1.2 Elect Director John P. Kotts Mgmt For Withhold

1.3 Elect Director Michael C. Linn Mgmt For Withhold

1.4 Elect Director Anthony G. Petrello Mgmt For Withhold

Page 197 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Nabors Industries Ltd.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.5 Elect Director Dag Skattum Mgmt For Withhold

1.6 Elect Director Howard Wolf Mgmt For Withhold

1.7 Elect Director John Yearwood Mgmt For Withhold

2 Approve PricewaterhouseCoopers LLP as Mgmt For For Auditors and Authorize Board to Fix Their Remuneration Auditors Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

3 Approve Broker Non-Vote Bye-law Amendment Mgmt For For

4 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice. Furthermore, while the board has identified some performance conditions for the equity awards, the annual time frame is too short to be considered long-term. We prefer to see performance periods between three and five years. Moreover, plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay.

5 Adopt Retention Ratio for Executives SH Against For

Voter Rationale: Companies should introduce substantial, long-term holding requirements for senior executives. The idea of extending some portion past retirement, resignation or termination has merit. While the specific threshold recommended by the proponents may not be ideal, the board should take a more robust approach to stock retention of long-term equity awards. This would also facilitate recouping awards in the event of fraud, a serious deterioration of the business due to inappropriate management of risk, a major restatement or other serious management failures.

6 Require Shareholder Approval of Specific SH Against For Performance Metrics in Equity Compensation Plans Voter Rationale: Notwithstanding additional improvements to disclosure following in a fourth year of low support for the say-on-pay proposal in 2014, questions remain about goal rigor under both the short- and long-term incentive programs. While boards should generally be afforded maximum flexibility to set performance goals, in light of the company's multi-year history of problematic compensation issues, and some continuing concern around the issue of goal rigor, shareholders would benefit from the proposal.

Page 198 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Nabors Industries Ltd.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

7 Report on Sustainability, Including Goals and SH Against For ESG Link to Executive Compensation Voter Rationale: Shareholders would benefit from the information disclosed in a comprehensive sustainability report. Such information would allow shareholders to better evaluate the company's sustainability performance and its management of related risks and opportunities

8 Adopt Proxy Access Right SH Against For

9 Require a Majority Vote for the Election of SH Against For Directors Voter Rationale: Directors should receive majority support from shareholders in order to be elected. While the board currently has a director resignation standard, it does not go far enough, and the board should adopt a binding standard for director elections.

National Instruments Corporation

Meeting Date: 05/12/2015 Country: USA Meeting Type: Annual Ticker: NATI

Primary ISIN: US6365181022 Primary SEDOL: 2645078

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Duy-Loan T. Le Mgmt For For

1.2 Elect Director Charles J. Roesslein Mgmt For Withhold

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board and should take immediate action to reduce the proportion of long standing directors and reduce the risk of entrenchment. Furthermore, directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability. Moreover, the board lacks both an independent chairman and an appropriate independent lead director. At the very least, the nominating committee should appoint a fully independent lead director.

2 Approve Restricted Stock Plan Mgmt For For

3 Approve Executive Incentive Bonus Plan Mgmt For For

4 Ratify Ernst & Young LLP as Auditors Mgmt For For

Navient Corporation

Meeting Date: 05/21/2015 Country: USA Meeting Type: Annual Ticker: NAVI

Primary ISIN: US63938C1080 Primary SEDOL: BLP5GX1

Page 199 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Navient Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director John K. Adams, Jr. Mgmt For For

1b Elect Director Ann Torre Bates Mgmt For For

1c Elect Director Anna Escobedo Cabral Mgmt For For

1d Elect Director William M. Diefenderfer, III Mgmt For For

1e Elect Director Diane Suitt Gilleland Mgmt For For

1f Elect Director Katherine A. Lehman Mgmt For For

1g Elect Director Linda A. Mills Mgmt For For

1h Elect Director Barry A. Munitz Mgmt For For

1i Elect Director John (Jack) F. Remondi Mgmt For For

1j Elect Director Steven L. Shapiro Mgmt For For

1k Elect Director Jane J. Thompson Mgmt For For

1l Elect Director Laura S. Unger Mgmt For For

1m Elect Director Barry L. Williams Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

4 Advisory Vote on Say on Pay Frequency Mgmt One Year One Year

5 Amend Omnibus Stock Plan Mgmt For For

NetSuite Inc.

Meeting Date: 06/10/2015 Country: USA Meeting Type: Annual Ticker: N

Primary ISIN: US64118Q1076 Primary SEDOL: B2B0FZ2

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Evan Goldberg Mgmt For For

1.2 Elect Director Steven J. Gomo Mgmt For For

Page 200 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

NetSuite Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.3 Elect Director Catherine R. Kinney Mgmt For Against

Voter Rationale:

2 Approve Qualified Employee Stock Purchase Mgmt For For Plan

3 Ratify KPMG LLP as Auditors Mgmt For For

Newfield Exploration Company

Meeting Date: 05/15/2015 Country: USA Meeting Type: Annual Ticker: NFX

Primary ISIN: US6512901082 Primary SEDOL: 2635079

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Lee K. Boothby Mgmt For For

1b Elect Director Pamela J. Gardner Mgmt For For

1c Elect Director John Randolph Kemp, III Mgmt For For

1d Elect Director Steven W. Nance Mgmt For For

1e Elect Director Thomas G. Ricks Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1f Elect Director Juanita M. Romans Mgmt For For

1g Elect Director John W. Schanck Mgmt For For

1h Elect Director J. Terry Strange Mgmt For Against

Voter Rationale: The board lacks both an independent chairman and an appropriate independent lead director. At the very least, the nominating committee should appoint a fully independent lead director.

2 Ratify PricewaterhousCoopers LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

Page 201 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Newfield Exploration Company

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

4 Amend Omnibus Stock Plan Mgmt For Against

Voter Rationale: Executive pay is not effectively linked to company performance. Performance targets should be clearly disclosed and stretching, and the compensation committee should do more to establish compensation packages that build shareholder value over time.

5A Amend Omnibus Stock Plan Mgmt For For

5B Amend Executive Incentive Bonus Plan Mgmt For For

6A Increase Authorized Common Stock Mgmt For For

6B Increase Authorized Preferred Stock Mgmt For Against

Voter Rationale: The issuance of shares with impaired/enhanced voting rights violates the principle of one share, one vote.

Noble Corporation plc

Meeting Date: 04/24/2015 Country: United Kingdom Meeting Type: Annual Ticker: NE

Primary ISIN: GB00BFG3KF26 Primary SEDOL: BFG3KF2

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1 Elect Director Julie H. Edwards Mgmt For For

2 Elect Director Scott D. Josey Mgmt For For

3 Elect Director Jon A. Marshall Mgmt For For

4 Elect Director Mary P. Ricciardello Mgmt For For

5 Elect Director David W. Williams Mgmt For For

Voter Rationale:

6 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale:

Page 202 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Noble Corporation plc

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

7 Ratify PricewaterhouseCoopers LLP as Statutory Mgmt For For Auditor Voter Rationale:

8 Authorize Audit Committee to Fix Remuneration Mgmt For For of Statutory Auditors

9 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

10 Advisory Vote to Ratify Directors' Compensation Mgmt For Against Report Voter Rationale:

11 Approve Omnibus Stock Plan Mgmt For Against

Voter Rationale:

The total cost of the equity plan is excessive. Furthermore, executive pay is not effectively linked to company performance. Performance targets should be clearly disclosed and stretching, and the compensation committee should do more to establish compensation packages that build shareholder value over time.

NOBLE ENERGY, INC.

Meeting Date: 04/28/2015 Country: USA Meeting Type: Annual Ticker: NBL

Primary ISIN: US6550441058 Primary SEDOL: 2640761

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Jeffrey L. Berenson Mgmt For For

1.2 Elect Director Michael A. Cawley Mgmt For Against

Voter Rationale:

1.3 Elect Director Edward F. Cox Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

Page 203 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

NOBLE ENERGY, INC.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.4 Elect Director Thomas J. Edelman Mgmt For Against

Voter Rationale:

Executives from acquired companies are not sufficiently independent to serve on key board committees and should be considered affiliated directors.

1.5 Elect Director Eric P. Grubman Mgmt For For

1.6 Elect Director Kirby L. Hedrick Mgmt For For

1.7 Elect Director David L. Stover Mgmt For For

1.8 Elect Director Scott D. Urban Mgmt For For

1.9 Elect Director William T. Van Kleef Mgmt For For

1.10 Elect Director Molly K. Williamson Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice for large companies. Furthermore, plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay.

4 Increase Authorized Common Stock Mgmt For For

5 Amend Omnibus Stock Plan Mgmt For For

6 Approve Non-Employee Director Omnibus Stock Mgmt For For Plan

7 Adopt Proxy Access Right SH Against For

Voter Rationale:

8 Report on Impacts of and Plans to Align with SH Against For Global Climate Change Policy Voter Rationale:

Climate change presents ongoing and serious risks to shareholder value. Additional information on the company's strategy and competitive positioning is merited. Companies should respond to the Carbon Disclosure Project and include information on its strategy in a sustainability report.

Northrop Grumman Corporation

Meeting Date: 05/20/2015 Country: USA Meeting Type: Annual Ticker: NOC

Primary ISIN: US6668071029 Primary SEDOL: 2648806

Page 204 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Northrop Grumman Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Wesley G. Bush Mgmt For For

Voter Rationale:

1.2 Elect Director Marianne C. Brown Mgmt For For

1.3 Elect Director Victor H. Fazio Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.4 Elect Director Donald E. Felsinger Mgmt For For

1.5 Elect Director Bruce S. Gordon Mgmt For For

1.6 Elect Director William H. Hernandez Mgmt For For

1.7 Elect Director Madeleine A. Kleiner Mgmt For For

1.8 Elect Director Karl J. Krapek Mgmt For For

1.9 Elect Director Richard B. Myers Mgmt For For

1.10 Elect Director Gary Roughead Mgmt For For

1.11 Elect Director Thomas M. Schoewe Mgmt For For

1.12 Elect Director James S. Turley Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Amend Omnibus Stock Plan Mgmt For For

4 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Voter Rationale:

5 Require Independent Board Chairman SH Against For

Voter Rationale:

NRG Energy, Inc.

Meeting Date: 05/07/2015 Country: USA Meeting Type: Annual Ticker: NRG

Primary ISIN: US6293775085 Primary SEDOL: 2212922

Page 205 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

NRG Energy, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director E. Spencer Abraham Mgmt For For

1.2 Elect Director Kirbyjon H. Caldwell Mgmt For For

1.3 Elect Director Lawrence S. Coben Mgmt For For

1.4 Elect Director Howard E. Cosgrove Mgmt For For

1.5 Elect Director David Crane Mgmt For For

1.6 Elect Director Terry G. Dallas Mgmt For For

1.7 Elect Director William E. Hantke Mgmt For For

1.8 Elect Director Paul W. Hobby Mgmt For For

1.9 Elect Director Edward R. Muller Mgmt For For

1.10 Elect Director Anne C. Schaumburg Mgmt For For

1.11 Elect Director Evan J. Silverstein Mgmt For For

1.12 Elect Director Thomas H. Weidemeyer Mgmt For For

1.13 Elect Director Walter R. Young Mgmt For For

2 Amend Executive Incentive Bonus Plan Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Ratify KPMG LLP as Auditors Mgmt For For

NXP Semiconductors NV

Meeting Date: 06/02/2015 Country: Netherlands Meeting Type: Annual Ticker: NXPI

Primary ISIN: NL0009538784 Primary SEDOL: B505PN7

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

Annual Meeting Mgmt

1 Open Meeting Mgmt

Page 206 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

NXP Semiconductors NV

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

2a Discussion of the implementation of the Mgmt remuneration policy

2b Discussion on Company's Reserves and Mgmt Dividend Policy

2c Adopt Financial Statements and Statutory Mgmt For For Reports

2d Approve Discharge of Board Members Mgmt For For

3a Reelect Richard L. Clemmer as Executive Mgmt For For Director

3b Reelect Peter Bonfield as Non-Executive Mgmt For For Director

3c Reelect Johannes P. Huth as Non-Executive Mgmt For For Director

3d Reelect Kenneth A. Goldman as Non-Executive Mgmt For For Director

3e Reelect Marion Helmes as Non-Executive Mgmt For For Director

3f Reelect Joseph Kaeser as Non-Executive Mgmt For Against Director Voter Rationale:

Executive directors are expected to hold no more than one external directorships to ensure they have sufficient time and energy to discharge their roles properly, particularly during unexpected company situations requiring substantial amounts of time.

3g Reelect I. Loring as Non-Executive Director Mgmt For For

3h Reelect Eric Meurice as Non-Executive Director Mgmt For For

3i Reelect Julie Southern as Non-Executive Mgmt For For Director

3j Reelect Rick Tsai as Non-Executive Director Mgmt For For

4a Grant Board Authority to Issue Shares Up To 10 Mgmt For Against Percent of Issued Capital Plus Additional 10 Percent in Case of Takeover/Merger Voter Rationale:

Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.

4b Authorize Board to Exclude Preemptive Rights Mgmt For Against from Issuance Under Item 4a Voter Rationale:

Any increase in capital of greater than 10% without pre-emption rights should be undertaken in exceptional circumstances only and fully justified by the company.

5 Authorize Repurchase of Shares Mgmt For For

6 Approve Cancellation of Ordinary Shares Mgmt For For

7 Ratify KPMG Accountants N.V. as Auditors Mgmt For For

Page 207 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Oil States International, Inc.

Meeting Date: 05/12/2015 Country: USA Meeting Type: Annual Ticker: OIS

Primary ISIN: US6780261052 Primary SEDOL: 2724472

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director S. James Nelson Mgmt For For

1.2 Elect Director Gary L. Rosenthal Mgmt For Withhold

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board and should take immediate action to reduce the proportion of long standing directors and reduce the risk of entrenchment. Furthermore, directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability. Moreover, executives that sit on multiple outside public boards risk not having time and energy to discharge their role properly, particularly during unexpected company situations. The CEO's current outside commitments should come under review of the board.

1.3 Elect Director William T. Van Kleef Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

Omnicare, Inc.

Meeting Date: 06/01/2015 Country: USA Meeting Type: Annual Ticker: OCR

Primary ISIN: US6819041087 Primary SEDOL: 2659778

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director John L. Bernbach Mgmt For For

1b Elect Director James G. Carlson Mgmt For For

1c Elect Director Mark A. Emmert Mgmt For For

1d Elect Director Steven J. Heyer Mgmt For For

1e Elect Director Samuel R. Leno Mgmt For For

1f Elect Director Nitin Sahney Mgmt For For

1g Elect Director Barry P. Schochet Mgmt For For

Page 208 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Omnicare, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1h Elect Director James D. Shelton Mgmt For For

Voter Rationale: Former employees or company founders are not sufficiently independent to serve on key board committees. Listing standard assumptions that independence can be restored after a five-year "cooling off" period are incorrect. Furthermore, the board imposed a forum selection clause without prior shareholder approval. The corporate governance committee should oppose measures that restrict investors' access to courts, and reverse the measure or, at the very least, put the matter to an investor vote.

1i Elect Director Amy Wallman Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

PBF Energy Inc.

Meeting Date: 05/21/2015 Country: USA Meeting Type: Annual Ticker: PBF

Primary ISIN: US69318G1067 Primary SEDOL: B7F4TJ7

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Thomas D. O'Malley Mgmt For For

1.2 Elect Director Spencer Abraham Mgmt For For

1.3 Elect Director Jefferson F. Allen Mgmt For For

1.4 Elect Director Wayne A. Budd Mgmt For Against

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1.5 Elect Director S. Eugene Edwards Mgmt For For

1.6 Elect Director Dennis M. Houston Mgmt For For

1.7 Elect Director Edward F. Kosnik Mgmt For For

1.8 Elect Director Eija Malmivirta Mgmt For For

1.9 Elect Director Thomas J. Nimbley Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Page 209 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

PepsiCo, Inc.

Meeting Date: 05/06/2015 Country: USA Meeting Type: Annual Ticker: PEP

Primary ISIN: US7134481081 Primary SEDOL: 2681511

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Shona L. Brown Mgmt For For

1.2 Elect Director George W. Buckley Mgmt For For

1.3 Elect Director Ian M. Cook Mgmt For For

1.4 Elect Director Dina Dublon Mgmt For For

1.5 Elect Director Rona A. Fairhead Mgmt For For

1.6 Elect Director Richard W. Fisher Mgmt For For

1.7 Elect Director Alberto Ibarguen Mgmt For For

1.8 Elect Director William R. Johnson Mgmt For For

1.9 Elect Director Indra K. Nooyi Mgmt For For

1.10 Elect Director David C. Page Mgmt For For

1.11 Elect Director Robert C. Pohlad Mgmt For Against

Voter Rationale: As a former top executive of a company acquired by PepsiCo, we do not consider this director to be sufficiently independent to serve in the audit committee.

1.12 Elect Director Lloyd G. Trotter Mgmt For For

1.13 Elect Director Daniel Vasella Mgmt For For

Voter Rationale: We are concerned with this director's long tenure and his participation in the compensation committee. We urge the board to ensure that key committees are comprised of fully independent directors.

1.14 Elect Director Alberto Weisser Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

4 Establish a Board Committee on Sustainability SH Against Against

Voter Rationale: This proposal is overly prescriptive and the board is already substantially addressing most of the concerns raised in this resolution.

5 Pro-Rata Vesting of Equity Awards SH Against For

Voter Rationale: In the case of a change of control, equity should only vest if an executive is not offered employment in the new company, a so-called double trigger.

Page 210 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

PepsiCo, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

6 Report on Plans to Minimize Pesticides' Impact SH Against Against on Pollinators Voter Rationale: The proposal is overly prescriptive and the company's current disclosures are sufficiently robust.

Pfizer Inc.

Meeting Date: 04/23/2015 Country: USA Meeting Type: Annual Ticker: PFE

Primary ISIN: US7170811035 Primary SEDOL: 2684703

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Dennis A. Ausiello Mgmt For For

1.2 Elect Director W. Don Cornwell Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.3 Elect Director Frances D. Fergusson Mgmt For For

1.4 Elect Director Helen H. Hobbs Mgmt For For

1.5 Elect Director James M. Kilts Mgmt For For

1.6 Elect Director Shantanu Narayen Mgmt For For

1.7 Elect Director Suzanne Nora Johnson Mgmt For For

1.8 Elect Director Ian C. Read Mgmt For For

1.9 Elect Director Stephen W. Sanger Mgmt For For

1.10 Elect Director James C. Smith Mgmt For For

1.11 Elect Director Marc Tessier-Lavigne Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

Page 211 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Pfizer Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: We acknowledge the steps taken by Pfizer to reform its approach to executive remuneration and recognise moving the long-term incentive plan to a higher proportion of performance-related pay. We urge the company to establish and disclose stretching and rigorous targets for the new LTIP which encourages genuine outperformance of peers. Despite the improvements proposed for the future pay plan, we continue to have concerns about the structure of the current pay plan and do not support it. We view the Performance Share Awards - which allows for 50% payout for bottom quartile performance versus peers - significantly undermines the company’s pay-for-performance approach. This type of practice blunts the impact of long-term variable pay. We also have reservations about the financial targets set for the annual bonus. The goals have softened for the second year in succession. We also continue to press for the company to disclose how non-financial metrics such as business ethics, regulatory fines and breaches, responsible sales and marketing practices, and product safety impacts the final pay outcome for the named executive directors.

4 Review and Assess Membership of Lobbying SH Against Against Organizations

PG&E Corporation

Meeting Date: 05/04/2015 Country: USA Meeting Type: Annual Ticker: PCG

Primary ISIN: US69331C1080 Primary SEDOL: 2689560

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Lewis Chew Mgmt For For

1.2 Elect Director Anthony F. Earley, Jr. Mgmt For For

Voter Rationale:

1.3 Elect Director Fred J. Fowler Mgmt For For

1.4 Elect Director Maryellen C. Herringer Mgmt For Against

Voter Rationale:

1.5 Elect Director Richard C. Kelly Mgmt For For

1.6 Elect Director Roger H. Kimmel Mgmt For For

1.7 Elect Director Richard A. Meserve Mgmt For For

1.8 Elect Director Forrest E. Miller Mgmt For For

1.9 Elect Director Rosendo G. Parra Mgmt For For

1.10 Elect Director Barbara L. Rambo Mgmt For For

1.11 Elect Director Anne Shen Smith Mgmt For For

Page 212 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

PG&E Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.12 Elect Director Barry Lawson Williams Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Require Independent Board Chairman SH Against For

Voter Rationale:

Philip Morris International Inc.

Meeting Date: 05/06/2015 Country: USA Meeting Type: Annual Ticker: PM

Primary ISIN: US7181721090 Primary SEDOL: B2PKRQ3

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Harold Brown Mgmt For For

1.2 Elect Director André Calantzopoulos Mgmt For For

1.3 Elect Director Louis C. Camilleri Mgmt For For

1.4 Elect Director Werner Geissler Mgmt For For

1.5 Elect Director Jennifer Li Mgmt For For

1.6 Elect Director Jun Makihara Mgmt For For

1.7 Elect Director Sergio Marchionne Mgmt For Against

1.8 Elect Director Kalpana Morparia Mgmt For For

1.9 Elect Director Lucio A. Noto Mgmt For For

1.10 Elect Director Frederik Paulsen Mgmt For For

1.11 Elect Director Robert B. Polet Mgmt For For

Page 213 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Philip Morris International Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.12 Elect Director Stephen M. Wolf Mgmt For For

2 Ratify PricewaterhouseCoopers SA as Auditors Mgmt For For

4 Report on Lobbying Payments and Policy SH Against For

5 Adopt Anti-Forced Labor Policy for Tobacco SH Against Against Supply Chain Voter Rationale: The company has demonstrated that it is taking the necessary steps to address the concerns raised in this proposal. We will continue to monitor the company's progress on this topic and will reassess whether it merits further escalation.

Phillips 66

Meeting Date: 05/06/2015 Country: USA Meeting Type: Annual Ticker: PSX

Primary ISIN: US7185461040 Primary SEDOL: B78C4Y8

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director J. Brian Ferguson Mgmt For For

1b Elect Director Harold W. McGraw, III Mgmt For For

Voter Rationale:

1c Elect Director Victoria J. Tschinkel Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Page 214 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Phillips 66

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

4 Declassify the Board of Directors Mgmt For For

Voter Rationale:

The decision to declassify the board is laudable. The annual election of directors provides greater board accountability to shareholders and is appreciated.

5 Adopt Quantitative GHG Goals for Operations SH Against For

Voter Rationale:

Pilgrim's Pride Corporation

Meeting Date: 05/01/2015 Country: USA Meeting Type: Annual Ticker: PPC

Primary ISIN: US72147K1088 Primary SEDOL: B5L3PZ2

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Gilberto Tomazoni Mgmt For For

1.2 Elect Director Joesley Mendonca Batista Mgmt For For

1.3 Elect Director Wesley Mendonca Batista Mgmt For For

1.4 Elect Director William W. Lovette Mgmt For For

Voter Rationale:

Directors whose close family members are employed at the company are not sufficiently independent to serve on key board committees and should be considered affiliated directors.

1.5 Elect Director Andre Nogueira de Souza Mgmt For For

1.6 Elect Director Wallim Cruz De Vasconcellos Mgmt For For Junior

2.1 Elect Director David E. Bell Mgmt For For

2.2 Elect Director Michael L. Cooper Mgmt For For

2.3 Elect Director Charles Macaluso Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

4 Ratify KPMG LLP as Auditors Mgmt For For

Page 215 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Pinnacle West Capital Corporation

Meeting Date: 05/20/2015 Country: USA Meeting Type: Annual Ticker: PNW

Primary ISIN: US7234841010 Primary SEDOL: 2048804

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Donald E. Brandt Mgmt For For

Voter Rationale:

1.2 Elect Director Denis A. Cortese Mgmt For For

1.3 Elect Director Richard P. Fox Mgmt For For

1.4 Elect Director Michael L. Gallagher Mgmt For Withhold

Voter Rationale:

1.5 Elect Director Roy A. Herberger, Jr. Mgmt For Withhold

Voter Rationale:

1.6 Elect Director Dale E. Klein Mgmt For For

1.7 Elect Director Humberto S. Lopez Mgmt For Withhold

Voter Rationale:

1.8 Elect Director Kathryn L. Munro Mgmt For Withhold

Voter Rationale:

1.9 Elect Director Bruce J. Nordstrom Mgmt For Withhold

Voter Rationale:

1.10 Elect Director David P. Wagener Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Page 216 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Pinnacle West Capital Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

4 Report on Lobbying Payments and Policy SH Against For

Voter Rationale:

PPG Industries, Inc.

Meeting Date: 04/16/2015 Country: USA Meeting Type: Annual Ticker: PPG

Primary ISIN: US6935061076 Primary SEDOL: 2698470

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Charles E. Bunch Mgmt For For

1.2 Elect Director Michael W. Lamach Mgmt For Withhold

1.3 Elect Director Martin H. Richenhagen Mgmt For For

1.4 Elect Director Thomas J. Usher Mgmt For Withhold

Voter Rationale: Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board and should take immediate action to reduce the proportion of long standing directors and reduce the risk of entrenchment. Moreover, directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate withdirectors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability. Finally, the board imposed a forum selection clause without prior shareholder approval. The corporate governance committee should oppose measures that restrict investors' access to courts, and reverse the measure or, at the very least, put the matter to an investor vote.

3 Eliminate Supermajority Vote Requirement Mgmt For For

Voter Rationale: Board efforts to reduce supermajority provisions are appreciated, as they create artificial barriers for shareholders. Majority voting should be sufficient to change policies.

4 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Page 217 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Prudential Financial, Inc.

Meeting Date: 05/12/2015 Country: USA Meeting Type: Annual Ticker: PRU

Primary ISIN: US7443201022 Primary SEDOL: 2819118

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Thomas J. Baltimore, Jr. Mgmt For Against

Voter Rationale:

1.2 Elect Director Gordon M. Bethune Mgmt For For

1.3 Elect Director Gilbert F. Casellas Mgmt For Against

Voter Rationale:

1.4 Elect Director James G. Cullen Mgmt For Against

Voter Rationale:

1.5 Elect Director Mark B. Grier Mgmt For For

1.6 Elect Director Constance J. Horner Mgmt For Against

Voter Rationale:

1.7 Elect Director Martina Hund-Mejean Mgmt For For

1.8 Elect Director Karl J. Krapek Mgmt For For

1.9 Elect Director Christine A. Poon Mgmt For For

1.10 Elect Director Douglas A. Scovanner Mgmt For For

1.11 Elect Director John R. Strangfeld Mgmt For For

Voter Rationale:

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

Page 218 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Public Service Enterprise Group Incorporated

Meeting Date: 04/21/2015 Country: USA Meeting Type: Annual Ticker: PEG

Primary ISIN: US7445731067 Primary SEDOL: 2707677

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Albert R. Gamper, Jr. Mgmt For Against

Voter Rationale:

1.2 Elect Director William V. Hickey Mgmt For Against

Voter Rationale:

1.3 Elect Director Ralph Izzo Mgmt For For

Voter Rationale:

1.4 Elect Director Shirley Ann Jackson Mgmt For Against

Voter Rationale:

1.5 Elect Director David Lilley Mgmt For For

1.6 Elect Director Thomas A. Renyi Mgmt For Against

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board. Furthermore, the board lacks both an independent chairman and a sufficiently independent lead director. At the very least, the nominating committee should appoint a fully independent lead director whose independence is not compromised.

1.7 Elect Director Hak Cheol (H.C) Shin Mgmt For For

1.8 Elect Director Richard J. Swift Mgmt For Against

Voter Rationale:

1.9 Elect Director Susan Tomasky Mgmt For For

1.10 Elect Director Alfred W. Zollar Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Voter Rationale:

Page 219 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Public Storage

Meeting Date: 04/30/2015 Country: USA Meeting Type: Annual Ticker: PSA

Primary ISIN: US74460D1090 Primary SEDOL: 2852533

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Ronald L. Havner, Jr. Mgmt For For

Voter Rationale:

1.2 Elect Director Tamara Hughes Gustavson Mgmt For For

1.3 Elect Director Uri P. Harkham Mgmt For Against

Voter Rationale:

1.4 Elect Director B. Wayne Hughes, Jr Mgmt For Against

Voter Rationale:

1.5 Elect Director Avedick B. Poladian Mgmt For For

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board. Furthermore, executives that sit on multiple outside public boards risk not having time and energy to discharge their role properly, particularly during unexpected company situations. The CEO's current outside commitments should come under review of the board.

1.6 Elect Director Gary E. Pruitt Mgmt For For

1.7 Elect Director Ronald P. Spogli Mgmt For For

1.8 Elect Director Daniel C. Staton Mgmt For Against

Voter Rationale:

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Page 220 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Quest Diagnostics Incorporated

Meeting Date: 05/15/2015 Country: USA Meeting Type: Annual Ticker: DGX

Primary ISIN: US74834L1008 Primary SEDOL: 2702791

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Jenne K. Britell Mgmt For For

1.2 Elect Director Vicky B. Gregg Mgmt For For

1.3 Elect Director Jeffrey M. Leiden Mgmt For For

1.4 Elect Director Timothy L. Main Mgmt For For

1.5 Elect Director Timothy M. Ring Mgmt For For

1.6 Elect Director Daniel C. Stanzione Mgmt For Against

Voter Rationale:

1.7 Elect Director Gail R. Wilensky Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.8 Elect Director John B. Ziegler Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

4 Amend Omnibus Stock Plan Mgmt For Against

Voter Rationale:

5 Provide Right to Act by Written Consent SH Against For

Voter Rationale:

Page 221 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

R. R. Donnelley & Sons Company

Meeting Date: 05/21/2015 Country: USA Meeting Type: Annual Ticker: RRD

Primary ISIN: US2578671016 Primary SEDOL: 2276605

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Thomas J. Quinlan, III Mgmt For For

1.2 Elect Director Susan M. Cameron Mgmt For Against

Voter Rationale:

1.3 Elect Director Richard L. Crandall Mgmt For For

1.4 Elect Director Susan M. Gianinno Mgmt For For

1.5 Elect Director Judith H. Hamilton Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.6 Elect Director Jeffrey M. Katz Mgmt For For

1.7 Elect Director Richard K. Palmer Mgmt For For

1.8 Elect Director John C. Pope Mgmt For For

1.9 Elect Director Michael T. Riordan Mgmt For For

1.10 Elect Director Oliver R. Sockwell Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Radian Group Inc.

Meeting Date: 05/13/2015 Country: USA Meeting Type: Annual Ticker: RDN

Primary ISIN: US7502361014 Primary SEDOL: 2173911

Page 222 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Radian Group Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Herbert Wender Mgmt For For

1b Elect Director David C. Carney Mgmt For Against

1c Elect Director Howard B. Culang Mgmt For Against

1d Elect Director Lisa W. Hess Mgmt For For

1e Elect Director Stephen T. Hopkins Mgmt For Against

1f Elect Director Sanford A. Ibrahim Mgmt For For

1g Elect Director Brian D. Montgomery Mgmt For For

1h Elect Director Gaetano Muzio Mgmt For For

1i Elect Director Gregory V. Serio Mgmt For For

1j Elect Director Noel J. Spiegel Mgmt For For

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Raytheon Company

Meeting Date: 05/28/2015 Country: USA Meeting Type: Annual Ticker: RTN

Primary ISIN: US7551115071 Primary SEDOL: 2758051

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Tracy A. Atkinson Mgmt For For

Page 223 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Raytheon Company

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1b Elect Director James E. Cartwright Mgmt For For

1c Elect Director Vernon E. Clark Mgmt For For

1d Elect Director Stephen J. Hadley Mgmt For For

1e Elect Director Thomas A. Kennedy Mgmt For For

Voter Rationale:

1f Elect Director Letitia A. Long Mgmt For For

1g Elect Director George R. Oliver Mgmt For For

1h Elect Director Michael C. Ruettgers Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1i Elect Director Ronald L. Skates Mgmt For For

1j Elect Director William R. Spivey Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Amend Omnibus Stock Plan Mgmt For For

4 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale:

5 Report on Lobbying Payments and Policy SH Against For

Voter Rationale:

6 Report on Political Contributions SH Against For

Voter Rationale:

7 Require Independent Board Chairman SH Against For

Voter Rationale:

Page 224 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Realogy Holdings Corp.

Meeting Date: 05/01/2015 Country: USA Meeting Type: Annual Ticker: RLGY

Primary ISIN: US75605Y1064 Primary SEDOL: B5T0CW1

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Marc E. Becker Mgmt For For

1.2 Elect Director Richard A. Smith Mgmt For For

Voter Rationale:

1.3 Elect Director Michael J. Williams Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Ratify Auditors Mgmt For For

Regions Financial Corporation

Meeting Date: 04/23/2015 Country: USA Meeting Type: Annual Ticker: RF

Primary ISIN: US7591EP1005 Primary SEDOL: B01R311

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1a Elect Director George W. Bryan Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.1b Elect Director Carolyn H. Byrd Mgmt For For

1.1c Elect Director David J. Cooper, Sr. Mgmt For For

1.1d Elect Director Don DeFosset Mgmt For For

1.1e Elect Director Eric C. Fast Mgmt For For

1.1f Elect Director O. B. Grayson Hall, Jr. Mgmt For For

Voter Rationale:

1.1g Elect Director John D. Johns Mgmt For For

1.1h Elect Director Ruth Ann Marshall Mgmt For For

Page 225 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Regions Financial Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1i Elect Director Susan W. Matlock Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.1j Elect Director John E. Maupin, Jr. Mgmt For For

1.1k Elect Director Charles D. McCrary Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence. Furthermore, the board lacks both an independent chairman and a sufficiently independent lead director. At the very least, the nominating committee should appoint a fully independent lead director whose independence is not compromised. Additionally, the board imposed a forum selection clause without prior shareholder approval. The corporate governance committee should oppose measures that restrict investors' access to courts, and reverse the measure or, at the very least, put the matter to an investor vote. Moreover, executives that sit on multiple outside public boards risk not having time and energy to discharge their role properly, particularly during unexpected company situations. The CEO's current outside commitments should come under review of the board.

1.1l Elect Director Lee J. Styslinger, III Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Approve Omnibus Stock Plan Mgmt For For

Reinsurance Group of America, Incorporated

Meeting Date: 05/20/2015 Country: USA Meeting Type: Annual Ticker: RGA

Primary ISIN: US7593516047 Primary SEDOL: 2731193

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Frederick J. Sievert Mgmt For Withhold

Voter Rationale:

1.2 Elect Director Stanley B. Tulin Mgmt For For

1.3 Elect Director A. Greig Woodring Mgmt For For

Page 226 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Reinsurance Group of America, Incorporated

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

RenaissanceRe Holdings Ltd.

Meeting Date: 05/20/2015 Country: Bermuda Meeting Type: Annual Ticker: RNR

Primary ISIN: BMG7496G1033 Primary SEDOL: 2728429

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Brian G. J. Gray Mgmt For Withhold

Voter Rationale:

1.2 Elect Director William F. Hagerty, IV Mgmt For For

1.3 Elect Director Kevin J. O'Donnell Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Amend Restricted Stock Plan Mgmt For For

4 Approve Ernst & Young Ltd. as Auditors and Mgmt For For Authorize Board to Fix Their Remuneration

Rite Aid Corporation

Meeting Date: 06/25/2015 Country: USA Meeting Type: Annual Ticker: RAD

Primary ISIN: US7677541044 Primary SEDOL: 2740809

Page 227 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Rite Aid Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director John T. Standley Mgmt For For

1b Elect Director Joseph B. Anderson, Jr. Mgmt For For

1c Elect Director Bruce G. Bodaken Mgmt For For

1d Elect Director David R. Jessick Mgmt For Against

1e Elect Director Kevin E. Lofton Mgmt For For

1f Elect Director Myrtle S. Potter Mgmt For For

1g Elect Director Michael N. Regan Mgmt For For

1h Elect Director Frank A. Savage Mgmt For For

1i Elect Director Marcy Syms Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

4 Pro-rata Vesting of Equity Awards SH Against For

Voter Rationale: In the case of a change of control, equity should only vest if an executive is not offered employment in the new company, a so-called double trigger.

5 Proxy Access SH Against For

RLJ Lodging Trust

Meeting Date: 05/01/2015 Country: USA Meeting Type: Annual Ticker: RLJ

Primary ISIN: US74965L1017 Primary SEDOL: B3PY1N7

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Robert L. Johnson Mgmt For For

Page 228 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

RLJ Lodging Trust

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.2 Elect Director Thomas J. Baltimore, Jr. Mgmt For For

1.3 Elect Director Evan Bayh Mgmt For For

Voter Rationale:

1.4 Elect Director Nathaniel A. Davis Mgmt For Against

Voter Rationale:

1.5 Elect Director Robert M. La Forgia Mgmt For For

1.6 Elect Director Glenda G. McNeal Mgmt For For

1.7 Elect Director Joseph Ryan Mgmt For For

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

4 Amend Omnibus Stock Plan Mgmt For For

5 Amend Declaration of Trust Mgmt For For

6 Amend Vote Requirements to Amend Bylaws SH Against For

Voter Rationale:

Supermajority provisions create artificial barriers for shareholders. Majority voting should be sufficient to change policies.

Rock-Tenn Company

Meeting Date: 06/24/2015 Country: USA Meeting Type: Special Ticker: RKT

Primary ISIN: US7727392075 Primary SEDOL: 2747082

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1 Approve Merger Agreement Mgmt For For

2 Adjourn Meeting Mgmt For For

3 Advisory Vote on Golden Parachutes Mgmt For Against

Voter Rationale:

Too much equity vests easily under this golden parachute arrangement. The majority of equity should only vest if executives lose their jobs following a merger, a so-called double trigger.

Page 229 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015 salesforce.com, inc.

Meeting Date: 06/04/2015 Country: USA Meeting Type: Annual Ticker: CRM

Primary ISIN: US79466L3024 Primary SEDOL: 2310525

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Marc R. Benioff Mgmt For For

Voter Rationale:

1b Elect Director Keith G. Block Mgmt For For

1c Elect Director Craig A. Conway Mgmt For For

1d Elect Director Alan G. Hassenfeld Mgmt For For

1e Elect Director Colin L. Powell Mgmt For For

1f Elect Director Sanford R. Robertson Mgmt For For

1g Elect Director John V. Roos Mgmt For For

1h Elect Director Lawrence J. Tomlinson Mgmt For For

1i Elect Director Robin L. Washington Mgmt For For

1j Elect Director Maynard G. Webb Mgmt For For

1k Elect Director Susan D. Wojcicki Mgmt For For

2 Amend Omnibus Stock Plan Mgmt For Against

Voter Rationale:

Executive pay is not effectively linked to company performance. Performance targets should be clearly disclosed and stretching, and the compensation committee should do more to establish compensation packages that build shareholder value over time. Furthermore, the grant rate is too high, and may lead to excessive dilution. In addition, incentive plans that allow for loans to exercise options are inconsistent with good practice and should be eliminated.

3 Amend Qualified Employee Stock Purchase Plan Mgmt For For

4 Ratify Ernst & Young LLP as Auditors Mgmt For For

5 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Page 230 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

SCANA Corporation

Meeting Date: 04/30/2015 Country: USA Meeting Type: Annual Ticker: SCG

Primary ISIN: US80589M1027 Primary SEDOL: 2545844

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director James A. Bennett Mgmt For Withhold

Voter Rationale:

1.2 Elect Director Lynne M. Miller Mgmt For Withhold

Voter Rationale:

1.3 Elect Director James W. Roquemore Mgmt For For

1.4 Elect Director Maceo K. Sloan Mgmt For Withhold

Voter Rationale:

2 Approve Omnibus Stock Plan Mgmt For For

3 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

4 Declassify the Board of Directors Mgmt For For

Voter Rationale:

The decision to declassify the board is laudable. The annual election of directors provides greater board accountability to shareholders and is appreciated.

Schlumberger Limited

Meeting Date: 04/08/2015 Country: Curacao Meeting Type: Annual Ticker: SLB

Primary ISIN: AN8068571086 Primary SEDOL: 2779201

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Peter L.S. Currie as Director Mgmt For For

1b Elect K. Vaman Kamath as Director Mgmt For For

1c Elect V. Maureen Kempston Darkes as Director Mgmt For For

Page 231 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Schlumberger Limited

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1d Elect Paal Kibsgaard as Director Mgmt For For

1e Elect Nikolay Kudryavtsev as Director Mgmt For For

1f Elect Michael E. Marks as Director Mgmt For For

1g Elect Indra K. Nooyi as Director Mgmt For For

1h Elect Lubna S. Olayan as Director Mgmt For For

1i Elect Leo Rafael Reif as Director Mgmt For For

1j Elect Tore I. Sandvold as Director Mgmt For For

1k Elect Henri Seydoux as Director Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Adopt and Approve Financials and Dividends Mgmt For For

4 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Shire plc

Meeting Date: 04/28/2015 Country: United Kingdom Meeting Type: Annual Ticker: SHP

Primary ISIN: JE00B2QKY057 Primary SEDOL: B2QKY05

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

Meeting for ADR Holders Mgmt

1 Accept Financial Statements and Statutory Mgmt For For Reports

2 Approve Remuneration Report Mgmt For For

3 Approve Remuneration Policy Mgmt For For

4 Re-elect Dominic Blakemore as Director Mgmt For Against

Voter Rationale:

Directors are expected to attend all board meetings. Attendance is crucial for making valuable contributions to the board and fulfilling fiduciary duties.

5 Re-elect William Burns as Director Mgmt For For

Page 232 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Shire plc

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

6 Re-elect Dr Steven Gillis as Director Mgmt For For

7 Re-elect Dr David Ginsburg as Director Mgmt For For

8 Re-elect David Kappler as Director Mgmt For For

9 Re-elect Susan Kilsby as Director Mgmt For For

10 Re-elect Anne Minto as Director Mgmt For For

11 Re-elect Dr Flemming Ornskov as Director Mgmt For For

12 Reappoint Deloitte LLP as Auditors Mgmt For For

13 Authorise the Audit, Compliance & Risk Mgmt For For Committee to Fix Remuneration of Auditors

14 Approve Long Term Incentive Plan 2015 Mgmt For For

15 Approve Global Employee Stock Purchase Plan Mgmt For For

16 Authorise Issue of Equity with Pre-emptive Mgmt For For Rights

17 Authorise Issue of Equity without Pre-emptive Mgmt For For Rights

18 Authorise Market Purchase of Ordinary Shares Mgmt For For

19 Authorise the Company to Call EGM with Two Mgmt For For Weeks' Notice

Simon Property Group, Inc.

Meeting Date: 05/14/2015 Country: USA Meeting Type: Annual Ticker: SPG

Primary ISIN: US8288061091 Primary SEDOL: 2812452

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Melvyn E. Bergstein Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1b Elect Director Larry C. Glasscock Mgmt For For

1c Elect Director Karen N. Horn Mgmt For Against

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1d Elect Director Allan Hubbard Mgmt For For

Page 233 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Simon Property Group, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1e Elect Director Reuben S. Leibowitz Mgmt For For

1f Elect Director Daniel C. Smith Mgmt For For

1g Elect Director J. Albert Smith, Jr. Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify Ernst & Young LLP as Auditors Mgmt For For

4 Provide Vote Counting to Exclude Abstentions SH Against For

Voter Rationale:

Uninstructed broker votes should not be counted as indicating support for management automatically. Any uninstructed votes should be excluded from vote tallies.

Skyworks Solutions, Inc.

Meeting Date: 05/19/2015 Country: USA Meeting Type: Annual Ticker: SWKS

Primary ISIN: US83088M1027 Primary SEDOL: 2961053

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director David J. Aldrich Mgmt For For

Voter Rationale:

1.2 Elect Director Kevin L. Beebe Mgmt For For

1.3 Elect Director Timothy R. Furey Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.4 Elect Director Balakrishnan S. Iyer Mgmt For Against

Voter Rationale:

1.5 Elect Director Christine King Mgmt For For

1.6 Elect Director David P. McGlade Mgmt For For

Page 234 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Skyworks Solutions, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.7 Elect Director David J. McLachlan Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.8 Elect Director Robert A. Schriesheim Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Approve Omnibus Stock Plan Mgmt For Against

Voter Rationale:

The grant rate is too high, and may lead to excessive dilution.

5 Adopt Simple Majority Vote SH Against For

Voter Rationale:

Supermajority provisions create artificial barriers for shareholders. Majority voting should be sufficient to change policies.

SM Energy Company

Meeting Date: 05/19/2015 Country: USA Meeting Type: Annual Ticker: SM

Primary ISIN: US78454L1008 Primary SEDOL: 2764188

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Larry W. Bickle Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence. Furthermore, the board imposed a forum selection clause without prior shareholder approval. The corporate governance committee should oppose measures that restrict investors' access to courts, and reverse the measure or, at the very least, put the matter to an investor vote. Moreover, this director is not sufficiently independent to serve as the independent lead director. Lastly, the lead director is not considered sufficiently independent to serve in such role. The nominating/governance committee should appoint a fully independent lead director.

1.2 Elect Director Stephen R. Brand Mgmt For For

1.3 Elect Director William J. Gardiner Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.4 Elect Director Loren M. Leiker Mgmt For For

1.5 Elect Director Javan D. Ottoson Mgmt For For

Page 235 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

SM Energy Company

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.6 Elect Director Ramiro G. Peru Mgmt For For

1.7 Elect Director Julio M. Quintana Mgmt For For

1.8 Elect Director Rose M. Robeson Mgmt For For

1.9 Elect Director William D. Sullivan Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Southwest Airlines Co.

Meeting Date: 05/13/2015 Country: USA Meeting Type: Annual Ticker: LUV

Primary ISIN: US8447411088 Primary SEDOL: 2831543

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director David W. Biegler Mgmt For For

1b Elect Director J. Veronica Biggins Mgmt For For

1c Elect Director Douglas H. Brooks Mgmt For For

1d Elect Director William H. Cunningham Mgmt For Against

Voter Rationale:

1e Elect Director John G. Denison Mgmt For For

1f Elect Director Gary C. Kelly Mgmt For For

Voter Rationale:

1g Elect Director Nancy B. Loeffler Mgmt For For

1h Elect Director John T. Montford Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1i Elect Director Thomas M. Nealon Mgmt For For

1j Elect Director Daniel D. Villanueva Mgmt For For

Page 236 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Southwest Airlines Co.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

3 Amend Omnibus Stock Plan Mgmt For For

4 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

Spirit AeroSystems Holdings, Inc.

Meeting Date: 04/22/2015 Country: USA Meeting Type: Annual Ticker: SPR

Primary ISIN: US8485741099 Primary SEDOL: B1HMMS7

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Charles L. Chadwell Mgmt For For

1.2 Elect Director Paul Fulchino Mgmt For For

1.3 Elect Director Richard Gephardt Mgmt For For

1.4 Elect Director Robert Johnson Mgmt For For

1.5 Elect Director Ronald Kadish Mgmt For For

1.6 Elect Director Christopher E. Kubasik Mgmt For For

1.7 Elect Director Larry A. Lawson Mgmt For For

1.8 Elect Director John L. Plueger Mgmt For For

1.9 Elect Director Francis Raborn Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Amend Bylaws of the Company to Delete Mgmt For For Certain Obsolete Provisions and Make Minor Changes to Certain Provisions of the Company's Existing Bylaws

Page 237 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

StanCorp Financial Group, Inc.

Meeting Date: 05/11/2015 Country: USA Meeting Type: Annual Ticker: SFG

Primary ISIN: US8528911006 Primary SEDOL: 2409575

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Virginia L. Anderson Mgmt For Against

Voter Rationale:

1.2 Elect Director Ranjana B. Clark Mgmt For For

1.3 Elect Director Timothy A. Holt Mgmt For For

1.4 Elect Director Kevin M. Murai Mgmt For For

1.5 Elect Director Eric E. Parsons Mgmt For Against

Voter Rationale:

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

State Street Corporation

Meeting Date: 05/20/2015 Country: USA Meeting Type: Annual Ticker: STT

Primary ISIN: US8574771031 Primary SEDOL: 2842040

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Jose E. Almeida Mgmt For For

1b Elect Director Kennett F. Burnes Mgmt For For

1c Elect Director Patrick de Saint-Aignan Mgmt For For

1d Elect Director Amelia C. Fawcett Mgmt For For

Page 238 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

State Street Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1e Elect Director William C. Freda Mgmt For For

1f Elect Director Linda A. Hill Mgmt For For

Voter Rationale: A number of long-tenured directors serve on key committees. However, we note that there has been some gradual board refreshment over the last three years and we expect this to continue and to address the concerns around those remaining long-serving directors.

1g Elect Director Joseph L. Hooley Mgmt For For

Voter Rationale:

1h Elect Director Robert S. Kaplan Mgmt For For

1i Elect Director Richard P. Sergel Mgmt For For

1j Elect Director Ronald L. Skates Mgmt For For

1k Elect Director Gregory L. Summe Mgmt For For

1l Elect Director Thomas J. Wilson Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

Steel Dynamics, Inc.

Meeting Date: 05/21/2015 Country: USA Meeting Type: Annual Ticker: STLD

Primary ISIN: US8581191009 Primary SEDOL: 2849472

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Mark D. Millett Mgmt For For

1.2 Elect Director Richard P. Teets, Jr. Mgmt For For

Page 239 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Steel Dynamics, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.3 Elect Director John C. Bates Mgmt For Withhold

Voter Rationale:

1.4 Elect Director Keith E. Busse Mgmt For For

1.5 Elect Director Frank D. Byrne Mgmt For For

1.6 Elect Director Traci M. Dolan Mgmt For For

1.7 Elect Director Paul B. Edgerley Mgmt For Withhold

Voter Rationale:

1.8 Elect Director Jurgen Kolb Mgmt For Withhold

Voter Rationale:

1.9 Elect Director James C. Marcuccilli Mgmt For Withhold

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board.

1.10 Elect Director Bradley S. Seaman Mgmt For For

1.11 Elect Director Gabriel L. Shaheen Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Approve Omnibus Stock Plan Mgmt For For

4 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Stericycle, Inc.

Meeting Date: 05/27/2015 Country: USA Meeting Type: Annual Ticker: SRCL

Primary ISIN: US8589121081 Primary SEDOL: 2860826

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Mark C. Miller Mgmt For For

Page 240 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Stericycle, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1b Elect Director Jack W. Schuler Mgmt For Against

Voter Rationale:

1c Elect Director Charles A. Alutto Mgmt For For

1d Elect Director Lynn D. Bleil Mgmt For For

1e Elect Director Thomas D. Brown Mgmt For For

1f Elect Director Thomas F. Chen Mgmt For For

1g Elect Director Rod F. Dammeyer Mgmt For Against

Voter Rationale:

1h Elect Director William K. Hall Mgmt For For

1i Elect Director John Patience Mgmt For Against

Voter Rationale:

1j Elect Director Mike S. Zafirovski Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Require Independent Board Chairman SH Against For

Voter Rationale:

Tech Data Corporation

Meeting Date: 06/03/2015 Country: USA Meeting Type: Annual Ticker: TECD

Primary ISIN: US8782371061 Primary SEDOL: 2879532

Page 241 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Tech Data Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Charles E. Adair Mgmt For Against

Voter Rationale:

1b Elect Director Robert M. Dutkowsky Mgmt For For

1c Elect Director Harry J. Harczak, Jr. Mgmt For For

1d Elect Director Kathleen Misunas Mgmt For Against

Voter Rationale:

1e Elect Director Thomas I. Morgan Mgmt For Against

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board.

1f Elect Director Steven A. Raymund Mgmt For For

Voter Rationale:

1g Elect Director Patrick G. Sayer Mgmt For Against

Voter Rationale:

1h Elect Director Savio W. Tung Mgmt For For

1i Elect Director David M. Upton Mgmt For Against

Voter Rationale:

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

Tesoro Corporation

Meeting Date: 05/07/2015 Country: USA Meeting Type: Annual Ticker: TSO

Primary ISIN: US8816091016 Primary SEDOL: 2884569

Page 242 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Tesoro Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Rodney F. Chase Mgmt For For

1.2 Elect Director Gregory J. Goff Mgmt For For

Voter Rationale:

1.3 Elect Director Robert W. Goldman Mgmt For For

1.4 Elect Director David Lilley Mgmt For For

1.5 Elect Director Mary Pat McCarthy Mgmt For For

1.6 Elect Director J.W. Nokes Mgmt For For

1.7 Elect Director Susan Tomasky Mgmt For For

1.8 Elect Director Michael E. Wiley Mgmt For For

1.9 Elect Director Patrick Y. Yang Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify Ernst & Young LLP as Auditors Mgmt For For

Texas Instruments Incorporated

Meeting Date: 04/16/2015 Country: USA Meeting Type: Annual Ticker: TXN

Primary ISIN: US8825081040 Primary SEDOL: 2885409

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Ralph W. Babb, Jr. Mgmt For For

1b Elect Director Mark A. Blinn Mgmt For For

1c Elect Director Daniel A. Carp Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1d Elect Director Carrie S. Cox Mgmt For For

1e Elect Director Ronald Kirk Mgmt For For

Page 243 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Texas Instruments Incorporated

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1f Elect Director Pamela H. Patsley Mgmt For Against

1g Elect Director Robert E. Sanchez Mgmt For For

1h Elect Director Wayne R. Sanders Mgmt For Against

1i Elect Director Ruth J. Simmons Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1j Elect Director Richard K. Templeton Mgmt For For

1k Elect Director Christine Todd Whitman Mgmt For For

3 Ratify Ernst & Young LLP as Auditors Mgmt For For

The AES Corporation

Meeting Date: 04/23/2015 Country: USA Meeting Type: Annual Ticker: AES

Primary ISIN: US00130H1059 Primary SEDOL: 2002479

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Andres R. Gluski Mgmt For For

1.2 Elect Director Charles L. Harrington Mgmt For For

1.3 Elect Director Kristina M. Johnson Mgmt For For

1.4 Elect Director Tarun Khanna Mgmt For For

1.5 Elect Director Holly K. Koeppel Mgmt For For

Page 244 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The AES Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.6 Elect Director Philip Lader Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.7 Elect Director James H. Miller Mgmt For For

1.8 Elect Director John B. Morse, Jr. Mgmt For For

1.9 Elect Director Moises Naim Mgmt For For

1.10 Elect Director Charles O. Rossotti Mgmt For For

Voter Rationale:

2 Amend Omnibus Stock Plan Mgmt For For

3 Amend Executive Incentive Bonus Plan Mgmt For For

4 Ratify Ernst & Young LLP as Auditors Mgmt For For

5 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

6 Provide Right to Call Special Meeting Mgmt For For

7 Provide Proxy Access Right Mgmt For For

8 Provide Right to Call Special Meeting SH Against For

Voter Rationale:

Holders of significant share capital should be entitled to call a special meeting.

9 Proxy Access SH Against For

Voter Rationale:

The Allstate Corporation

Meeting Date: 05/19/2015 Country: USA Meeting Type: Annual Ticker: ALL

Primary ISIN: US0200021014 Primary SEDOL: 2019952

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Robert D. Beyer Mgmt For For

Page 245 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The Allstate Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1b Elect Director Kermit R. Crawford Mgmt For For

1c Elect Director Michael L. Eskew Mgmt For For

1d Elect Director Herbert L. Henkel Mgmt For For

1e Elect Director Siddharth N. (Bobby) Mehta Mgmt For For

1f Elect Director Andrea Redmond Mgmt For For

1g Elect Director John W. Rowe Mgmt For Against

Voter Rationale:

1h Elect Director Judith A. Sprieser Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1i Elect Director Mary Alice Taylor Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1j Elect Director Thomas J. Wilson Mgmt For For

Voter Rationale:

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Voter Rationale:

4 Adopt Share Retention Policy For Senior SH Against For Executives Voter Rationale:

The Bank of New York Mellon Corporation

Meeting Date: 04/14/2015 Country: USA Meeting Type: Annual Ticker: BK

Primary ISIN: US0640581007 Primary SEDOL: B1Z77F6

Page 246 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The Bank of New York Mellon Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Nicholas M. Donofrio Mgmt For For

1.2 Elect Director Joseph J. Echevarria Mgmt For For

1.3 Elect Director Edward P. Garden Mgmt For For

1.4 Elect Director Jeffrey A. Goldstein Mgmt For For

1.5 Elect Director Gerald L. Hassell Mgmt For For

1.6 Elect Director John M. Hinshaw Mgmt For For

1.7 Elect Director Edmund F. 'Ted' Kelly Mgmt For For

1.8 Elect Director Richard J. Kogan Mgmt For For

1.9 Elect Director John A. Luke, Jr. Mgmt For Against

1.10 Elect Director Mark A. Nordenberg Mgmt For For

1.11 Elect Director Catherine A. Rein Mgmt For For

1.12 Elect Director William C. Richardson Mgmt For For

1.13 Elect Director Samuel C. Scott, III Mgmt For For

1.14 Elect Director Wesley W. von Schack Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Ratify KPMG LLP as Auditors Mgmt For For

The Boeing Company

Meeting Date: 04/27/2015 Country: USA Meeting Type: Annual Ticker: BA

Primary ISIN: US0970231058 Primary SEDOL: 2108601

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director David L. Calhoun Mgmt For For

1b Elect Director Arthur D. Collins, Jr. Mgmt For For

Page 247 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The Boeing Company

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1c Elect Director Kenneth M. Duberstein Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence. Furthermore, the board lacks both an independent chairman and a sufficiently independent lead director. At the very least, the nominating committee should appoint a fully independent lead director whose independence is not compromised. Moreover, executives that sit on multiple outside public boards risk not having time and energy to discharge their role properly, particularly during unexpected company situations. The CEO's current outside commitments should come under review of the board.

1d Elect Director Edmund P. Giambastiani, Jr. Mgmt For For

1e Elect Director Lawrence W. Kellner Mgmt For For

1f Elect Director Edward M. Liddy Mgmt For For

1g Elect Director W. James McNerney, Jr. Mgmt For For

1h Elect Director Susan C. Schwab Mgmt For For

1i Elect Director Ronald A. Williams Mgmt For For

1j Elect Director Mike S. Zafirovski Mgmt For For

3 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

4 Claw-back of Payments under Restatements SH Against For

5 Require Independent Board Chairman SH Against For

6 Provide Right to Act by Written Consent SH Against For

7 Report on Lobbying Payments and Policy SH Against For

Page 248 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The Charles Schwab Corporation

Meeting Date: 05/13/2015 Country: USA Meeting Type: Annual Ticker: SCHW

Primary ISIN: US8085131055 Primary SEDOL: 2779397

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Nancy H. Bechtle Mgmt For Against

Voter Rationale:

1b Elect Director Walter W. Bettinger, II Mgmt For For

1c Elect Director C. Preston Butcher Mgmt For Against

Voter Rationale:

1d Elect Director Christopher V. Dodds Mgmt For Against

Voter Rationale:

1e Elect Director Mark A. Goldfarb Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

4 Amend Executive Incentive Bonus Plan Mgmt For For

5 Report on Political Contributions SH Against For

Voter Rationale:

6 Report on Lobbying Payments and Policy SH Against For

Voter Rationale:

Page 249 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The Charles Schwab Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

7 Prepare Employment Diversity Report SH Against For

Voter Rationale:

The company should report to investors on efforts to widen its executive and board candidate pool. The board should draw on the richest possible combination of talents and perspectives. In addition, board charters should affirm the value of individual diversity of all kinds including gender, ethnic origin, nationality, professional background and many other factors that may enhance the board's performance.

8 Pro-Rata Vesting of Equity Awards SH Against For

Voter Rationale:

In the case of a change of control, equity should only vest if an executive is not offered employment in the new company, a so-called double trigger.

9 Provide Vote Counting to Exclude Abstentions SH Against For

Voter Rationale:

Uninstructed broker votes should not be counted as indicating support for management automatically. Any uninstructed votes should be excluded from vote tallies.

The Chubb Corporation

Meeting Date: 04/28/2015 Country: USA Meeting Type: Annual Ticker: CB

Primary ISIN: US1712321017 Primary SEDOL: 2195722

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Zoe Baird Budinger Mgmt For Against

Voter Rationale:

1b Elect Director Sheila P. Burke Mgmt For Against

Voter Rationale:

1c Elect Director James I. Cash, Jr. Mgmt For Against

Voter Rationale:

1d Elect Director John D. Finnegan Mgmt For For

Voter Rationale:

1e Elect Director Timothy P. Flynn Mgmt For For

1f Elect Director Karen M. Hoguet Mgmt For For

1g Elect Director Lawrence W. Kellner Mgmt For For

1h Elect Director Martin G. McGuinn Mgmt For For

Page 250 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The Chubb Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1i Elect Director Lawrence M. Small Mgmt For Against

Voter Rationale:

1j Elect Director Jess Søderberg Mgmt For For

1k Elect Director Daniel E. Somers Mgmt For For

1l Elect Director William C. Weldon Mgmt For For

1m Elect Director James M. Zimmerman Mgmt For For

1n Elect Director Alfred W. Zollar Mgmt For Against

Voter Rationale:

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Report on Sustainability, Including Quantitative SH Against For Goals Voter Rationale:

Enhanced disclosure of social and environmental risks and opportunities for businesses is important. Current best practice is to report based on the Global Reporting Initiative's sustainability reporting guidelines.

The Coca-Cola Company

Meeting Date: 04/29/2015 Country: USA Meeting Type: Annual Ticker: KO

Primary ISIN: US1912161007 Primary SEDOL: 2206657

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Herbert A. Allen Mgmt For For

1.2 Elect Director Ronald W. Allen Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

Page 251 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The Coca-Cola Company

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.3 Elect Director Marc Bolland Mgmt For For

1.4 Elect Director Ana Botin Mgmt For For

1.5 Elect Director Howard G. Buffet Mgmt For For

1.6 Elect Director Richard M. Daley Mgmt For For

1.7 Elect Director Barry Diller Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.8 Elect Director Helene D. Gayle Mgmt For For

1.9 Elect Director Evan G. Greenberg Mgmt For For

1.10 Elect Director Alexis M. Herman Mgmt For For

1.11 Elect Director Muhtar Kent Mgmt For For

1.12 Elect Director Robert A. Kotick Mgmt For For

1.13 Elect Director Maria Elena Lagomasino Mgmt For For

1.14 Elect Director Sam Nunn Mgmt For Against

1.15 Elect Director David B. Weinberg Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: The plan's structure and pay-for-performance results are not sufficiently strong. Good practices include: well disclosed and stretching performance targets; performance triggers for equity awards; using different metrics for the short and long-term plans; measuring company outcomes against its appropriate peer group; and setting awards so that executives are not rewarded for below-average performance. These and other approaches will ensure that the compensation committee designs compensation packages that build shareholder value over time.

3 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

4 Proxy Access SH Against For

5 Seek Shareholder Approval to Release of SH Against Against Unvested Restricted Stock Awards and Unvested PSU Awards to Senior Executives Voter Rationale: The proposal is overly prescriptive and shareholders already have an opportunity to express any concerns in relation to pay practices through the advisory vote on executive compensation every year.

Page 252 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The Gap, Inc.

Meeting Date: 05/19/2015 Country: USA Meeting Type: Annual Ticker: GPS

Primary ISIN: US3647601083 Primary SEDOL: 2360326

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Domenico De Sole Mgmt For For

1b Elect Director Robert J. Fisher Mgmt For Against

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board. Furthermore, the board should not contain a significant number of directors with board tenure in excess of 12 years. The nominating committee should remove the long serving non-executive chairman from committees that require absolute independence.Moreover, former employees or company founders are not sufficiently independent to serve on key board committees. Listing standard assumptions that independence can be restored after a five-year "cooling off" period are incorrect. Lastly, directors whose close family members are employed at the company are not sufficiently independent to serve on key board committees and should be considered affiliated directors.

1c Elect Director William S. Fisher Mgmt For For

1d Elect Director Isabella D. Goren Mgmt For For

1e Elect Director Bob L. Martin Mgmt For Against

Voter Rationale:

1f Elect Director Jorge P. Montoya Mgmt For For

1g Elect Director Arthur Peck Mgmt For For

1h Elect Director Mayo A. Shattuck, III Mgmt For Against

Voter Rationale:

1i Elect Director Katherine Tsang Mgmt For For

1j Elect Director Padmasree Warrior Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Voter Rationale:

3 Amend Executive Incentive Bonus Plan Mgmt For For

4 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

Page 253 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The Goldman Sachs Group, Inc.

Meeting Date: 05/21/2015 Country: USA Meeting Type: Annual Ticker: GS

Primary ISIN: US38141G1040 Primary SEDOL: 2407966

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Lloyd C. Blankfein Mgmt For For

1b Elect Director M. Michele Burns Mgmt For For

1c Elect Director Gary D. Cohn Mgmt For For

1d Elect Director Mark Flaherty Mgmt For For

1e Elect Director William W. George Mgmt For For

1f Elect Director James A. Johnson Mgmt For For

Voter Rationale: We note concerns with this director's long tenure, particularly as chair of the compensation committee, which we believe should be formed entirely of truly independent directors. However, we recognise the refreshment the board has undertaken during the past couple of years and expect that the concerns with this director will be addressed as part of this ongoing process.

1g Elect Director Lakshmi N. Mittal Mgmt For For

Voter Rationale: We note concerns with this director's commitments as a top officer and director at more than two public companies, which are excessive and likely to jeopardize the ability to provide appropriate oversight on all boards. Nevertheless, there is no evidence that the director's commitments have interfered with his obligations as a board member of the bank and his profile makes him a valuable director of the company.

1h Elect Director Adebayo O. Ogunlesi Mgmt For For

1i Elect Director Peter Oppenheimer Mgmt For For

1j Elect Director Debora L. Spar Mgmt For For

1k Elect Director Mark E. Tucker Mgmt For For

1l Elect Director David A. Viniar Mgmt For For

1m Elect Director Mark O. Winkelman Mgmt For For

Page 254 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The Goldman Sachs Group, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

2 Advisory Vote to Ratify Named Executive Mgmt For Abstain Officers' Compensation Voter Rationale: We are positively impressed with the changes the bank has introduced to its compensation plans and its responsiveness to shareholder feedback. Throughout our engagement with the company we have advocated for the incorporation of specific performance metrics and a shift away from a purely discretionary approach. This year, one third of the company’s annual variable incentives are subject to a return on equity (ROE) target which has to be maintained over three years. Lon-term incentives are now entirely performance based and also incorporate an ROE performance condition as well as a book value per share (BVPS) target. These performance conditions are subject to a stretching eight year performance timeframe. We also commend the company for the enhancement of its clawback policy and the implementation of stringent holding requirements. While these changes strengthen the alignment of pay practices with the interests of long-term shareholders, there are certain aspects of the pay structures where such alignment could be further strengthened. Two thirds of annual variable pay are still discretionary and we would encourage the company to increase the use of performance stock units so that these constitute at least half of annual variable awards. In addition, currently the short-term and long-term incentive plans both use ROE as a performance condition and we would prefer the use of diverse performance factors to avoid duplication. Lastly, while performance targets and timeframes are stretching, we find the current thresholds for ROE under the short-term and long-term incentive schemes and the BVPS threshold insufficiently challenging and the likely payouts at these levels disproportionately high. In their current format, the long-term and short-term plans have the potential to pay for levels of performance that are suboptimal. Given the balance between the notable progress made this year and what we believe can be additionally improved, we are abstaining on our vote on pay at this time and will continue to encourage the company to further strengthen the link between pay and performance so that we are able to support the proposed pay plans in the future.

3 Approve Omnibus Stock Plan Mgmt For For

4 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

5 Provide Vote Counting to Exclude Abstentions SH Against Against

Voter Rationale: The company's current policies and practices satisfactorily address the issue raised in this proposal.

6 Report on Certain Vesting Program SH Against Against

Voter Rationale: The company's practices and policies substantially address the issues noted in this proposal. The existing vesting guidelines do not provide for automatic acceleration.

7 Provide Right to Act by Written Consent SH Against Abstain

Voter Rationale: While we are supportive of the spirit of this resolution and believe that the company's existing formal access provisions could be enhanced - currently there is no proxy access and the threshold to call special meetings is at a challenging 25% -, in practice access for shareholders to raise matters to the board's attention is not an issue. The company has a robust shareholder outreach programme in place and provides investors with reasonable opportunities to raise matters to the board. We are therefore abstaining on this resolution at this time and will encourage the company to improve other provisions which we believe are more effective access tools for shareholders, such as proxy access and a lower threshold to call special meetings.

The Hartford Financial Services Group, Inc.

Meeting Date: 05/20/2015 Country: USA Meeting Type: Annual Ticker: HIG

Primary ISIN: US4165151048 Primary SEDOL: 2476193

Page 255 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The Hartford Financial Services Group, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Robert B. Allardice, III Mgmt For For

1b Elect Director Trevor Fetter Mgmt For For

1c Elect Director Kathryn A. Mikells Mgmt For For

1d Elect Director Michael G. Morris Mgmt For For

1e Elect Director Thomas A. Renyi Mgmt For For

1f Elect Director Julie G. Richardson Mgmt For For

1g Elect Director Teresa W. Roseborough Mgmt For For

1h Elect Director Virginia P. Ruesterholz Mgmt For For

1i Elect Director Charles B. Strauss Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1j Elect Director Christopher J. Swift Mgmt For For

Voter Rationale:

1k Elect Director H. Patrick Swygert Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice. Furthermore, plans should not pay out for below-median performance relative to peers. This undermines a pay-for-performance approach, which should reward top level performance amongst the company's selected peer group. Such practices blunt the impact of variable pay. Moreover, while the board has identified some performance conditions for the equity awards, the annual time frame is too short to be considered long-term. We prefer to see performance periods between three and five years.

The Home Depot, Inc.

Meeting Date: 05/21/2015 Country: USA Meeting Type: Annual Ticker: HD

Primary ISIN: US4370761029 Primary SEDOL: 2434209

Page 256 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The Home Depot, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Ari Bousbib Mgmt For For

1b Elect Director Gregory D. Brenneman Mgmt For For

1c Elect Director J. Frank Brown Mgmt For For

1d Elect Director Albert P. Carey Mgmt For For

1e Elect Director Armando Codina Mgmt For Against

Voter Rationale:

1f Elect Director Helena B. Foulkes Mgmt For For

1g Elect Director Wayne M. Hewett Mgmt For For

1h Elect Director Karen L. Katen Mgmt For For

1i Elect Director Craig A. Menear Mgmt For For

Voter Rationale:

1j Elect Director Mark Vadon Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

4 Require Independent Board Chairman SH Against For

Voter Rationale:

5 Amend Bylaws -- Call Special Meetings SH Against For

Voter Rationale:

Holders of significant share capital should be entitled to call a special meeting. A total holding requirement of 5% is a suitable threshold to prevent abuse.

The Kroger Co.

Meeting Date: 06/25/2015 Country: USA Meeting Type: Annual Ticker: KR

Primary ISIN: US5010441013 Primary SEDOL: 2497406

Page 257 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The Kroger Co.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Nora A. Aufreiter Mgmt For For

1b Elect Director Robert D. Beyer Mgmt For Against

1c Elect Director Susan J. Kropf Mgmt For For

1d Elect Director David B. Lewis Mgmt For Against

1e Elect Director W. Rodney McMullen Mgmt For For

1f Elect Director Jorge P. Montoya Mgmt For For

1g Elect Director Clyde R. Moore Mgmt For Against

1h Elect Director Susan M. Phillips Mgmt For For

1i Elect Director James A. Runde Mgmt For For

1j Elect Director Ronald L. Sargent Mgmt For Against

1k Elect Director Bobby S. Shackouls Mgmt For Against

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

Page 258 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The Kroger Co.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

4 Report on Human Rights Risk Assessment SH Against For Process Voter Rationale: The company faces risks related to human rights in its global operations. Good practice includes developing a clear code of practice, along with monitoring and effective disclosure to ensure that those risks are managed effectively and communicated to shareholders.

5 Assess Environmental Impact of Non-Recyclable SH Against For Packaging Voter Rationale: Product take-back and recycling present ongoing risks and opportunities to long-term shareholder value. Additional information, including clear recycling targets, is merited.

6 Report on Policy Options to Reduce Antibiotic SH Against Against Use in Products Voter Rationale: The company's existing practices satisfactorily address the issues raised in this proposal.

The Mosaic Company

Meeting Date: 05/14/2015 Country: USA Meeting Type: Annual Ticker: MOS

Primary ISIN: US61945C1036 Primary SEDOL: B3NPHP6

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Nancy E. Cooper Mgmt For For

1b Elect Director Gregory L. Ebel Mgmt For Against

Voter Rationale:

This director's commitments, as a top officer and director at more than two public companies, are excessive and likely to jeopardize the ability to provide appropriate oversight on all boards. CEOs and CFOs make valuable board members but also face tremendous demands on their time. Furthermore, former employees or company founders are not sufficiently independent to serve on key board committees. Listing standard assumptions that independence can be restored after a five-year "cooling off" period are incorrect.

1c Elect Director Denise C. Johnson Mgmt For For

1d Elect Director Robert L. Lumpkins Mgmt For For

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1e Elect Director William T. Monahan Mgmt For For

1f Elect Director James L. Popowich Mgmt For For

1g Elect Director James T. Prokopanko Mgmt For For

1h Elect Director Steven M. Seibert Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

Page 259 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The PNC Financial Services Group, Inc.

Meeting Date: 04/28/2015 Country: USA Meeting Type: Annual Ticker: PNC

Primary ISIN: US6934751057 Primary SEDOL: 2692665

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Charles E. Bunch Mgmt For Against

Voter Rationale: This director's commitments, as a top officer and director at more than two public companies, are excessive and likely to jeopardize the ability to provide appropriate oversight on all boards. CEOs and CFOs make valuable board members but also face tremendous demands on their time. Finally, directors whose close family members are employed at the company are not sufficiently independent to serve on key board committees and should be considered affiliated directors.

1.2 Elect Director Paul W. Chellgren Mgmt For Against

1.3 Elect Director Marjorie Rodgers Cheshire Mgmt For For

1.4 Elect Director William S. Demchak Mgmt For For

1.5 Elect Director Andrew T. Feldstein Mgmt For For

1.6 Elect Director Kay Coles James Mgmt For For

1.7 Elect Director Richard B. Kelson Mgmt For Against

1.8 Elect Director Anthony A. Massaro Mgmt For Against

1.9 Elect Director Jane G. Pepper Mgmt For Against

1.10 Elect Director Donald J. Shepard Mgmt For For

1.11 Elect Director Lorene K. Steffes Mgmt For Against

1.12 Elect Director Dennis F. Strigl Mgmt For Against

Page 260 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The PNC Financial Services Group, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.13 Elect Director Thomas J. Usher Mgmt For Against

Voter Rationale: Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board and should take immediate action to reduce the proportion of long standing directors and reduce the risk of entrenchment. Furthermore, the board lacks both an independent chairman and a sufficiently independent lead director. At the very least, the nominating committee should appoint a fully independent lead director whose independence is not compromised. Moreover, we oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

The Priceline Group Inc.

Meeting Date: 06/04/2015 Country: USA Meeting Type: Annual Ticker: PCLN

Primary ISIN: US7415034039 Primary SEDOL: 2779063

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Timothy M. Armstrong Mgmt For For

1.2 Elect Director Howard W. Barker, Jr. Mgmt For For

1.3 Elect Director Jeffery H. Boyd Mgmt For For

1.4 Elect Director Jan L. Docter Mgmt For For

1.5 Elect Director Jeffrey E. Epstein Mgmt For For

1.6 Elect Director James M. Guyette Mgmt For For

1.7 Elect Director Darren R. Huston Mgmt For For

1.8 Elect Director Charles H. Noski Mgmt For For

1.9 Elect Director Nancy B. Peretsman Mgmt For Withhold

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.10 Elect Director Thomas E. Rothman Mgmt For For

1.11 Elect Director Craig W. Rydin Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Page 261 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The Priceline Group Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

4 Provide Right to Act by Written Consent SH Against For

Voter Rationale:

5 Adopt Proxy Access Right SH Against For

Voter Rationale:

The Timken Company

Meeting Date: 05/07/2015 Country: USA Meeting Type: Annual Ticker: TKR

Primary ISIN: US8873891043 Primary SEDOL: 2892807

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Maria A. Crowe Mgmt For For

1.2 Elect Director Richard G. Kyle Mgmt For For

1.3 Elect Director John A. Luke, Jr. Mgmt For Withhold

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee should take action to ensure an appropriately fresh board and reduce the proportion of long standing directors to reduce the risk of entrenchment. Furthermore, this director's commitments, as a top officer and director at more than two public companies, are excessive and likely to jeopardize the ability to provide appropriate oversight on all boards. CEOs and CFOs make valuable board members but also face tremendous demands on their time.

1.4 Elect Director Christopher L. Mapes Mgmt For For

1.5 Elect Director Ajita G. Rajendra Mgmt For Withhold

Voter Rationale:

1.6 Elect Director Joseph W. Ralston Mgmt For Withhold

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board.

1.7 Elect Director John P. Reilly Mgmt For For

1.8 Elect Director Frank C. Sullivan Mgmt For For

1.9 Elect Director John M. Timken, Jr. Mgmt For For

Page 262 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The Timken Company

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.10 Elect Director Ward J. Timken, Jr. Mgmt For Withhold

Voter Rationale:

1.11 Elect Director Jacqueline F. Woods Mgmt For Withhold

Voter Rationale:

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

4 Approve Executive Incentive Bonus Plan Mgmt For For

5 Amend Omnibus Stock Plan Mgmt For Against

Voter Rationale:

The total cost of the equity plan is excessive.

6 Amend Bylaws -- Call Special Meetings SH Against For

Voter Rationale:

Holders of significant share capital should be entitled to call a special meeting. A total holding requirement of 5% is a suitable threshold to prevent abuse.

The Travelers Companies, Inc.

Meeting Date: 05/20/2015 Country: USA Meeting Type: Annual Ticker: TRV

Primary ISIN: US89417E1091 Primary SEDOL: 2769503

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Alan L. Beller Mgmt For For

1b Elect Director John H. Dasburg Mgmt For Against

Voter Rationale:

1c Elect Director Janet M. Dolan Mgmt For Against

Voter Rationale:

Page 263 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The Travelers Companies, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1d Elect Director Kenneth M. Duberstein Mgmt For Against

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board and should take immediate action to reduce the proportion of long standing directors and reduce the risk of entrenchment. Furthermore, the board lacks both an independent chairman and a sufficiently independent lead director. At the very least, the nominating committee should appoint a fully independent lead director whose independence is not compromised. Moreover, executives that sit on multiple outside public boards risk not having time and energy to discharge their role properly, particularly during unexpected company situations. The CEO's current outside commitments should come under review of the board.

1e Elect Director Jay S. Fishman Mgmt For For

Voter Rationale:

1f Elect Director Patricia L. Higgins Mgmt For For

1g Elect Director Thomas R. Hodgson Mgmt For Against

Voter Rationale:

1h Elect Director William J. Kane Mgmt For For

1i Elect Director Cleve L. Killingsworth Jr. Mgmt For For

1j Elect Director Philip T. (Pete) Ruegger, III Mgmt For For

1k Elect Director Donald J. Shepard Mgmt For For

1l Elect Director Laurie J. Thomsen Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

4 Report on Political Contributions SH Against For

Voter Rationale:

The Western Union Company

Meeting Date: 05/15/2015 Country: USA Meeting Type: Annual Ticker: WU

Primary ISIN: US9598021098 Primary SEDOL: B1F76F9

Page 264 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The Western Union Company

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Hikmet Ersek Mgmt For For

1b Elect Director Richard A. Goodman Mgmt For For

1c Elect Director Jack M. Greenberg Mgmt For For

1d Elect Director Betsy D. Holden Mgmt For For

1e Elect Director Jeffrey A. Joerres Mgmt For For

1f Elect Director Linda Fayne Levinson Mgmt For For

1g Elect Director Roberto G. Mendoza Mgmt For For

1h Elect Director Michael A. Miles, Jr. Mgmt For For

1i Elect Director Robert W. Selander Mgmt For For

1j Elect Director Frances Fragos Townsend Mgmt For For

1k Elect Director Solomon D. Trujillo Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Approve Omnibus Stock Plan Mgmt For For

4 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

5 Provide Right to Act by Written Consent SH Against For

Voter Rationale:

6 Report on Political Contributions SH Against For

Voter Rationale:

7 Amend Bylaws to Establish a Board Committee SH Against Against on Human Rights Voter Rationale:

The binding nature of the proposal is too prescriptive. Establishing a corporate responsibility or sustainability committee to actively monitor and review emerging environmental, social and ethical risks and opportunities for the company is advisable but the board should have discretion in how it addresses these issues in its committee structure.

Page 265 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

The Williams Companies, Inc.

Meeting Date: 05/21/2015 Country: USA Meeting Type: Annual Ticker: WMB

Primary ISIN: US9694571004 Primary SEDOL: 2967181

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Alan S. Armstrong Mgmt For For

1.2 Elect Director Joseph R. Cleveland Mgmt For For

1.3 Elect Director Kathleen B. Cooper Mgmt For For

1.4 Elect Director John A. Hagg Mgmt For For

1.5 Elect Director Juanita H. Hinshaw Mgmt For For

1.6 Elect Director Ralph Izzo Mgmt For For

1.7 Elect Director Frank T. MacInnis Mgmt For Against

Voter Rationale:

The board should not contain a significant number of directors with board tenure in excess of 12 years. The nominating committee should remove the long serving non-executive chairman from committees that require absolute independence. Furthermore, executives that sit on multiple outside public boards risk not having time and energy to discharge their role properly, particularly during unexpected company situations. The CEO's current outside commitments should come under review of the board. Moreover, the board imposed a forum selection clause without prior shareholder approval. The corporate governance committee should oppose measures that restrict investors' access to courts, and reverse the measure or, at the very least, put the matter to an investor vote.

1.8 Elect Director Eric W. Mandelblatt Mgmt For For

1.9 Elect Director Keith A. Meister Mgmt For For

1.10 Elect Director Steven W. Nance Mgmt For For

1.11 Elect Director Murray D. Smith Mgmt For For

1.12 Elect Director Janice D. Stoney Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.13 Elect Director Laura A. Sugg Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

Page 266 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Time Warner Inc.

Meeting Date: 06/19/2015 Country: USA Meeting Type: Annual Ticker: TWX

Primary ISIN: US8873173038 Primary SEDOL: B63QTN2

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director James L. Barksdale Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1b Elect Director William P. Barr Mgmt For For

1c Elect Director Jeffrey L. Bewkes Mgmt For For

Voter Rationale:

1d Elect Director Stephen F. Bollenbach Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1e Elect Director Robert C. Clark Mgmt For Against

Voter Rationale:

1f Elect Director Mathias Dopfner Mgmt For For

1g Elect Director Jessica P. Einhorn Mgmt For For

1h Elect Director Carlos M. Gutierrez Mgmt For For

1i Elect Director Fred Hassan Mgmt For For

1j Elect Director Kenneth J. Novack Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1k Elect Director Paul D. Wachter Mgmt For For

1l Elect Director Deborah C. Wright Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

4 Provide Right to Act by Written Consent SH Against For

Voter Rationale:

5 Board Oversight of Tobacco Use Depicted in SH Against Against Products

Page 267 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Time Warner Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

6 Adopt Quantitative GHG Goals for Operations SH Against For

Voter Rationale:

TimkenSteel Corporation

Meeting Date: 05/06/2015 Country: USA Meeting Type: Annual Ticker: TMST

Primary ISIN: US8873991033 Primary SEDOL: BNBPMX1

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Joseph A. Carrabba Mgmt For For

1.2 Elect Director Phillip R. Cox Mgmt For For

1.3 Elect Director John P. Reilly Mgmt For Withhold

Voter Rationale:

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

4 Advisory Vote on Say on Pay Frequency Mgmt One Year One Year

5 Amend Executive Incentive Bonus Plan Mgmt For For

6 Amend Omnibus Stock Plan Mgmt For For

Torchmark Corporation

Meeting Date: 04/30/2015 Country: USA Meeting Type: Annual Ticker: TMK

Primary ISIN: US8910271043 Primary SEDOL: 2896713

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Charles E. Adair Mgmt For For

1.2 Elect Director Marilyn A. Alexander Mgmt For For

Page 268 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Torchmark Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.3 Elect Director David L. Boren Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.4 Elect Director Jane M. Buchan Mgmt For For

1.5 Elect Director Gary L. Coleman Mgmt For For

Voter Rationale:

1.6 Elect Director Larry M. Hutchison Mgmt For For

Voter Rationale:

1.7 Elect Director Robert W. Ingram Mgmt For For

1.8 Elect Director Lloyd W. Newton Mgmt For For

1.9 Elect Director Darren M. Rebelez Mgmt For For

1.10 Elect Director Lamar C. Smith Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.11 Elect Director Paul J. Zucconi Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

Trinity Industries, Inc.

Meeting Date: 05/04/2015 Country: USA Meeting Type: Annual Ticker: TRN

Primary ISIN: US8965221091 Primary SEDOL: 2904627

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director John L. Adams Mgmt For Withhold

Voter Rationale:

1.2 Elect Director Rhys J. Best Mgmt For For

Page 269 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Trinity Industries, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.3 Elect Director David W. Biegler Mgmt For Withhold

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.4 Elect Director Antonio Carrillo Mgmt For For

1.5 Elect Director Leldon E. Echols Mgmt For For

1.6 Elect Director Ronald J. Gafford Mgmt For Withhold

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.7 Elect Director Adrian Lajous Mgmt For For

1.8 Elect Director Charles W. Matthews Mgmt For For

1.9 Elect Director Douglas L. Rock Mgmt For For

1.10 Elect Director Dunia A. Shive Mgmt For For

1.11 Elect Director Timothy R. Wallace Mgmt For For

Voter Rationale:

2 Amend Omnibus Stock Plan Mgmt For Against

Voter Rationale:

The total cost of the equity plan is excessive.

3 Increase Authorized Common Stock Mgmt For For

4 Adjust Par Value of Common Stock Mgmt For For

5 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

6 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

TripAdvisor, Inc.

Meeting Date: 06/18/2015 Country: USA Meeting Type: Annual Ticker: TRIP

Primary ISIN: US8969452015 Primary SEDOL: B6ZC3N6

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Gregory B. Maffei Mgmt For Withhold

Page 270 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

TripAdvisor, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders. Furthermore, directors are expected to hold six or fewer directorships and ensure they have sufficient time and energy to discharge their role properly, particularly during unexpected company situations requiring substantial amounts of time. Moreover, this director's commitments, as a top officer and director at more than two public companies, are excessive and likely to jeopardize the ability to provide appropriate oversight on all boards. CEOs and CFOs make valuable board members but also face tremendous demands on their time.

1.2 Elect Director Stephen Kaufer Mgmt For For

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1.3 Elect Director Jonathan F. Miller Mgmt For Withhold

Voter Rationale:

1.4 Elect Director Dipchand (Deep) Nishar Mgmt For Withhold

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1.5 Elect Director Jeremy Philips Mgmt For Withhold

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1.6 Elect Director Spencer M. Rascoff Mgmt For Withhold

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders. Furthermore, this director's commitments, as a top officer and director at more than two public companies, are excessive and likely to jeopardize the ability to provide appropriate oversight on all boards. CEOs and CFOs make valuable board members but also face tremendous demands on their time. Moreover, former employees or company founders are not sufficiently independent to serve on key board committees. Listing standard assumptions that independence can be restored after a five-year "cooling off" period are incorrect.

1.7 Elect Director Christopher W. Shean Mgmt For For

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1.8 Elect Director Sukhinder Singh Cassidy Mgmt For Withhold

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1.9 Elect Director Robert S. Wiesenthal Mgmt For Withhold

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

2 Ratify KPMG LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

Page 271 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Union Pacific Corporation

Meeting Date: 05/14/2015 Country: USA Meeting Type: Annual Ticker: UNP

Primary ISIN: US9078181081 Primary SEDOL: 2914734

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Andrew H. Card, Jr. Mgmt For For

1.2 Elect Director Erroll B. Davis, Jr. Mgmt For For

1.3 Elect Director David B. Dillon Mgmt For For

1.4 Elect Director Lance M. Fritz Mgmt For For

1.5 Elect Director Judith Richards Hope Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.6 Elect Director John J. Koraleski Mgmt For For

1.7 Elect Director Charles C. Krulak Mgmt For For

1.8 Elect Director Michael R. McCarthy Mgmt For For

1.9 Elect Director Michael W. McConnell Mgmt For For

1.10 Elect Director Thomas F. McLarty, III Mgmt For For

1.11 Elect Director Steven R. Rogel Mgmt For Against

Voter Rationale:

1.12 Elect Director Jose H. Villarreal Mgmt For For

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Voter Rationale:

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

4 Stock Retention/Holding Period SH Against For

Voter Rationale:

Page 272 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Union Pacific Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

5 Require Independent Board Chairman SH Against For

Voter Rationale:

United Continental Holdings, Inc.

Meeting Date: 06/10/2015 Country: USA Meeting Type: Annual Ticker: UAL

Primary ISIN: US9100471096 Primary SEDOL: B4QG225

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Carolyn Corvi Mgmt For For

1.2 Elect Director Jane C. Garvey Mgmt For For

1.3 Elect Director Walter Isaacson Mgmt For For

1.4 Elect Director Henry L. Meyer, III Mgmt For For

1.5 Elect Director Oscar Munoz Mgmt For For

1.6 Elect Director William R. Nuti Mgmt For Against

Voter Rationale:

1.7 Elect Director Laurence E. Simmons Mgmt For For

1.8 Elect Director Jeffery A. Smisek Mgmt For For

Voter Rationale:

1.9 Elect Director David J. Vitale Mgmt For For

1.10 Elect Director John H. Walker Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.11 Elect Director Charles A. Yamarone Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

Page 273 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

United Continental Holdings, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

4 Provide Right to Act by Written Consent SH Against For

Voter Rationale:

United States Steel Corporation

Meeting Date: 04/28/2015 Country: USA Meeting Type: Annual Ticker: X

Primary ISIN: US9129091081 Primary SEDOL: 2824770

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1a Elect Director Patricia Diaz Dennis Mgmt For For

1.1b Elect Director Mario Longhi Mgmt For For

1.1c Elect Director Robert J. Stevens Mgmt For For

1.1d Elect Director David S. Sutherland Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Amend Executive Incentive Bonus Plan Mgmt For For

4 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

United Stationers Inc.

Meeting Date: 05/20/2015 Country: USA Meeting Type: Annual Ticker: USTR

Primary ISIN: US9130041075 Primary SEDOL: 2923815

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Robert B. Aiken, Jr. Mgmt For For

1.2 Elect Director Charles K. Crovitz Mgmt For For

Page 274 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

United Stationers Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.3 Elect Director Roy W. Haley Mgmt For Withhold

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.4 Elect Director Stuart A. Taylor, II Mgmt For Withhold

Voter Rationale:

Directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability. Furthermore, the board imposed a forum selection clause without prior shareholder approval. The corporate governance committee should oppose measures that restrict investors' access to courts, and reverse the measure or, at the very least, put the matter to an investor vote.

1.5 Elect Director Paul S. Williams Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Amend Omnibus Stock Plan Mgmt For For

4 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

United Therapeutics Corporation

Meeting Date: 06/26/2015 Country: USA Meeting Type: Annual Ticker: UTHR

Primary ISIN: US91307C1027 Primary SEDOL: 2430412

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Katherine Klein Mgmt For For

1.2 Elect Director Raymond Kurzweil Mgmt For Withhold

1.3 Elect Director Martine Rothblatt Mgmt For For

1.4 Elect Director Louis Sullivan Mgmt For Withhold

Page 275 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

United Therapeutics Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: The plan's structure and pay-for-performance results are not sufficiently strong. Good practices include: well disclosed and stretching performance targets; performance less than p/greater than Triggers for equity awards; using different metrics for the short and long-term plans; measuring company outcomes against its appropriate peer group; and setting awards so that executives are not rewarded for below-average performance. These and other approaches will ensure that the compensation committee designs compensation packages that build shareholder value over time.

3 Approve Omnibus Stock Plan Mgmt For Against

4 Ratify Ernst & Young LLP as Auditors Mgmt For For

UnitedHealth Group Incorporated

Meeting Date: 06/01/2015 Country: USA Meeting Type: Annual Ticker: UNH

Primary ISIN: US91324P1021 Primary SEDOL: 2917766

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director William C. Ballard, Jr. Mgmt For Against

1b Elect Director Edson Bueno Mgmt For For

1c Elect Director Richard T. Burke Mgmt For Against

Voter Rationale: The board should not contain a significant number of directors with board tenure in excess of 12 years. The nominating committee should remove the long serving non-executive chairman from committees that require absolute independence. Furthermore, former employees or company founders are not sufficiently independent to serve on key board committees. Listing standard assumptions that independence can be restored after a five-year "cooling off" period are incorrect.

1d Elect Director Robert J. Darretta Mgmt For For

1e Elect Director Stephen J. Hemsley Mgmt For For

1f Elect Director Michele J. Hooper Mgmt For Against

Voter Rationale: Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board.

1g Elect Director Rodger A. Lawson Mgmt For For

Page 276 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

UnitedHealth Group Incorporated

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1h Elect Director Glenn M. Renwick Mgmt For Against

1i Elect Director Kenneth I. Shine Mgmt For For

1j Elect Director Gail R. Wilensky Mgmt For Against

3 Amend Omnibus Stock Plan Mgmt For Against

Voter Rationale: The total cost of the equity plan is excessive. Furthermore, incentive plans that allow for loans to exercise options are inconsistent with good practice and should be eliminated.

4 Change State of Incorporation from Minnesota Mgmt For For to Delaware

5 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

6 Require Independent Board Chairman SH Against For

Unum Group

Meeting Date: 05/21/2015 Country: USA Meeting Type: Annual Ticker: UNM

Primary ISIN: US91529Y1064 Primary SEDOL: 2433842

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Cynthia L. Egan Mgmt For For

1.2 Elect Director Pamela H. Godwin Mgmt For Against

Voter Rationale:

1.3 Elect Director Timothy F. Keaney Mgmt For For

1.4 Elect Director Thomas Kinser Mgmt For For

Page 277 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Unum Group

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.5 Elect Director Gloria C. Larson Mgmt For For

1.6 Elect Director A.S. (Pat) MacMillan, Jr. Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.7 Elect Director Richard P. McKenney Mgmt For For

1.8 Elect Director Edward J. Muhl Mgmt For For

1.9 Elect Director William J. Ryan Mgmt For For

1.10 Elect Director Thomas R. Watjen Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify Ernst & Young LLP as Auditors Mgmt For For

Valeant Pharmaceuticals International, Inc.

Meeting Date: 05/19/2015 Country: Canada Meeting Type: Annual Ticker: VRX

Primary ISIN: CA91911K1021 Primary SEDOL: B41NYV4

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Ronald H. Farmer Mgmt For For

1b Elect Director Colleen A. Goggins Mgmt For For

1c Elect Director Robert A. Ingram Mgmt For For

1d Elect Director Anders O. Lonner Mgmt For For

1e Elect Director Theo Melas-Kyriazi Mgmt For For

1f Elect Director J. Michael Pearson Mgmt For For

Voter Rationale:

1g Elect Director Robert N. Power Mgmt For For

1h Elect Director Norma A. Provencio Mgmt For For

Page 278 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Valeant Pharmaceuticals International, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1i Elect Director Howard B. Schiller Mgmt For For

1j Elect Director Katharine B. Stevenson Mgmt For For

1k Elect Director Jeffrey W. Ubben Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

3 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Valero Energy Corporation

Meeting Date: 04/30/2015 Country: USA Meeting Type: Annual Ticker: VLO

Primary ISIN: US91913Y1001 Primary SEDOL: 2041364

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1a Elect Director Jerry D. Choate Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.1b Elect Director Joseph W. Gorder Mgmt For For

1.1c Elect Director Deborah P. Majoras Mgmt For For

1.1d Elect Director Donald L. Nickles Mgmt For For

1.1e Elect Director Philip J. Pfeiffer Mgmt For For

1.1f Elect Director Robert A. Profusek Mgmt For For

1.1g Elect Director Susan Kaufman Purcell Mgmt For Against

Voter Rationale: The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.1h Elect Director Stephen M. Waters Mgmt For For

1.1i Elect Director Randall J. Weisenburger Mgmt For For

1.1j Elect Director Rayford Wilkins, Jr. Mgmt For For

2 Ratify KPMG LLP as Auditors Mgmt For For

Page 279 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Valero Energy Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

Vectren Corporation

Meeting Date: 05/12/2015 Country: USA Meeting Type: Annual Ticker: VVC

Primary ISIN: US92240G1013 Primary SEDOL: 2572949

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Carl L. Chapman Mgmt For For

Voter Rationale:

1.2 Elect Director James H. DeGraffenreidt, Jr. Mgmt For For

1.3 Elect Director John D. Engelbrecht Mgmt For Withhold

Voter Rationale:

1.4 Elect Director Anton H. George Mgmt For Withhold

Voter Rationale:

1.5 Elect Director Martin C. Jischke Mgmt For For

1.6 Elect Director Robert G. Jones Mgmt For For

Page 280 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Vectren Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.7 Elect Director J. Timothy McGinley Mgmt For Withhold

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board and should take immediate action to reduce the proportion of long standing directors and reduce the risk of entrenchment. Furthermore, the board lacks both an independent chairman and a sufficiently independent lead director. At the very least, the nominating committee should appoint a fully independent lead director whose independence is not compromised. Moreover, the board imposed a forum selection clause without prior shareholder approval. The corporate governance committee should oppose measures that restrict investors' access to courts, and reverse the measure or, at the very least, put the matter to an investor vote.

1.8 Elect Director Patrick K. Mullen Mgmt For For

1.9 Elect Director R. Daniel Sadlier Mgmt For For

1.10 Elect Director Michael L. Smith Mgmt For For

1.11 Elect Director Jean L. Wojtowicz Mgmt For Withhold

Voter Rationale:

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

VeriSign, Inc.

Meeting Date: 05/21/2015 Country: USA Meeting Type: Annual Ticker: VRSN

Primary ISIN: US92343E1029 Primary SEDOL: 2142922

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director D. James Bidzos Mgmt For For

Voter Rationale:

1.2 Elect Director William L. Chenevich Mgmt For Against

Voter Rationale:

Page 281 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

VeriSign, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.3 Elect Director Kathleen A. Cote Mgmt For Against

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board. Moreover, the board lacks both an independent chairman and a sufficiently independent lead director. At the very least, the nominating committee should appoint a fully independent lead director whose independence is not compromised.

1.4 Elect Director Jamie S. Gorelick Mgmt For For

1.5 Elect Director Roger H. Moore Mgmt For Against

Voter Rationale:

Boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee should take action to ensure an appropriately fresh board and reduce the proportion of long standing directors to reduce the risk of entrenchment. Moreover, executives from acquired companies are not sufficiently independent to serve on key board committees and should be considered affiliated directors.

1.6 Elect Director Louis A. Simpson Mgmt For For

1.7 Elect Director Timothy Tomlinson Mgmt For For

2 Approve Executive Incentive Bonus Plan Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

4 Ratify KPMG LLP as Auditors Mgmt For For

5 Provide Right to Act by Written Consent SH Against For

Voter Rationale:

Verizon Communications Inc.

Meeting Date: 05/07/2015 Country: USA Meeting Type: Annual Ticker: VZ

Primary ISIN: US92343V1044 Primary SEDOL: 2090571

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Shellye L. Archambeau Mgmt For For

1.2 Elect Director Mark T. Bertolini Mgmt For For

1.3 Elect Director Richard L. Carrion Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.4 Elect Director Melanie L. Healey Mgmt For For

1.5 Elect Director M. Frances Keeth Mgmt For For

Page 282 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Verizon Communications Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.6 Elect Director Lowell C. McAdam Mgmt For For

Voter Rationale:

1.7 Elect Director Donald T. Nicolaisen Mgmt For For

1.8 Elect Director Clarence Otis, Jr. Mgmt For For

1.9 Elect Director Rodney E. Slater Mgmt For For

1.10 Elect Director Kathryn A. Tesija Mgmt For For

1.11 Elect Director Gregory D. Wasson Mgmt For For

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

4 Report on Net Neutrality SH Against Against

Voter Rationale:

This is an evolving issue under review by US regulators, and one which the company is monitoring closely. New FCC regulations may resolve concerns, but the company should ensure that its existing policies are strong, practices are clear and disclosure is excellent in order to avoid further rule-making.

5 Report on Indirect Political Contributions SH Against For

Voter Rationale:

6 Submit Severance Agreement SH Against For (Change-in-Control) to Shareholder Vote Voter Rationale:

Companies should request approval of compensation policies covering severance packages and signing bonuses from shareholders. The prospect of separating the voting rights of a merger or acquisition from the compensation packages associate with it is welcome.

7 Stock Retention/Holding Period SH Against For

Voter Rationale:

8 Provide Right to Act by Written Consent SH Against For

Voter Rationale:

Page 283 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Vornado Realty Trust

Meeting Date: 05/21/2015 Country: USA Meeting Type: Annual Ticker: VNO

Primary ISIN: US9290421091 Primary SEDOL: 2933632

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Steven Roth Mgmt For Withhold

Voter Rationale: All of the directors standing for re-election participated in recent board decisions to ignore shareholder proposals that were supported by a majority of voting shareholders in previous years. This is an unacceptable breach of accountability to shareholders. Furtheremore, the board should act with accountability to the investors it represents and take action on majority shareholder votes. Directors who do not receive majority support from shareholders should not stand for re-election. Moreover, this director's commitments, as a top officer and director at more than two public companies, are excessive and likely to jeopardize the ability to provide appropriate oversight on all boards. CEOs and CFOs make valuable board members but also face tremendous demands on their time.

1.2 Elect Director Michael D. Fascitelli Mgmt For Withhold

1.3 Elect Director Russell B. Wight, Jr. Mgmt For Withhold

Voter Rationale: The board should act with accountability to the investors it represents and take action on majority shareholder votes. Directors who do not receive majority support from shareholders should not stand for re-election. Furthermore, boards where more than 33% of directors have served for more than 12 years lack balance. The nominating committee failed to ensure an appropriately fresh board and should take immediate action to reduce the proportion of long standing directors and reduce the risk of entrenchment. Moreover, directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability. Additionally, the board lacks both an independent chairman and a sufficiently independent lead director. At the very least, the nominating committee should appoint a fully independent lead director whose independence is not compromised.

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

4 Require Independent Board Chairman SH Against For

Voya Financial, Inc.

Meeting Date: 05/28/2015 Country: USA Meeting Type: Annual Ticker: VOYA

Primary ISIN: US9290891004 Primary SEDOL: BKWQ2N2

Page 284 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Voya Financial, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Lynne Biggar Mgmt For For

1b Elect Director Jane P. Chwick Mgmt For For

1c Elect Director J. Barry Griswell Mgmt For For

1d Elect Director Frederick S. Hubbell Mgmt For Against

Voter Rationale:

Former employees or company founders are not sufficiently independent to serve on key board committees. Listing standard assumptions that independence can be restored after a five-year "cooling off" period are incorrect. Furthermore, the board lacks both an independent chairman and a sufficiently independent lead director. At the very least, the nominating committee should appoint a fully independent lead director whose independence is not compromised.

1e Elect Director Rodney O. Martin, Jr. Mgmt For For

Voter Rationale:

1f Elect Director Joseph V. Tripodi Mgmt For For

1g Elect Director Deborah C. Wright Mgmt For For

1h Elect Director David Zwiener Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

3 Ratify Ernst & Young LLP as Auditors Mgmt For For

4 Institute Procedures to Prevent Investments in SH Against Against Companies that Contribute to Genocide or Crimes Against Humanity Voter Rationale:

This proposal is overly prescriptive. While the company's modest efforts in the area of human rights risk assessment are a step in the right direction, we would welcome greater transparency on its successes and failures in implementing such assessment across the business.

Walgreens Boots Alliance, Inc.

Meeting Date: 05/28/2015 Country: USA Meeting Type: Annual Ticker: WBA

Primary ISIN: US9314271084 Primary SEDOL: BTN1Y44

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Janice M. Babiak Mgmt For For

Page 285 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Walgreens Boots Alliance, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1b Elect Director David J. Brailer Mgmt For For

1c Elect Director Steven A. Davis Mgmt For For

1d Elect Director William C. Foote Mgmt For Against

Voter Rationale:

1e Elect Director Ginger L. Graham Mgmt For For

1f Elect Director John A. Lederer Mgmt For For

1g Elect Director Dominic P. Murphy Mgmt For For

1h Elect Director Stefano Pessina Mgmt For For

1i Elect Director Barry Rosenstein Mgmt For For

1j Elect Director Leonard D. Schaeffer Mgmt For For

1k Elect Director Nancy M. Schlichting Mgmt For For

1l Elect Director James A. Skinner Mgmt For For

Voter Rationale:

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

4 Stock Retention SH Against For

Voter Rationale:

5 Pro-rata Vesting of Equity Awards SH Against For

Voter Rationale:

In the case of a change of control, equity should only vest if an executive is not offered employment in the new company, a so-called double trigger.

6 Adopt Proxy Access Right SH Against For

Voter Rationale:

7 Include Sustainability as a Performance Measure SH Against Against for Senior Executive Compensation Voter Rationale:

The proposed resolution is overly prescriptive. We believe that it is the responsibility of the remuneration committee to incorporate sustainability performance factors into compensation plans and to identify the specific metrics that are most relevant to the company. This should be considered as part of their holistic approach to designing pay plans.

Page 286 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Wal-Mart Stores, Inc.

Meeting Date: 06/05/2015 Country: USA Meeting Type: Annual Ticker: WMT

Primary ISIN: US9311421039 Primary SEDOL: 2936921

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Aida M. Alvarez Mgmt For For

1b Elect Director James I. Cash, Jr. Mgmt For Against

Voter Rationale: We remain concerned with the overall lack of accountability around the Mexico bribery scandal. While we are mindful that the investigations are still underway, we do not believe that sufficient accountability has been demonstrated in light of such a significant risk oversight failure. We welcome the changes introduced at policy level and the enhanced compliance mechanisms but we still believe that the onus is on the lead director (given that the chairman is not independent) to ensure that the board is appropriately held to account. We opposed Mr Cash last year for this same reasons as he was then the chair of the audit committee.

1c Elect Director Roger C. Corbett Mgmt For For

1d Elect Director Pamela J. Craig Mgmt For For

1e Elect Director Michael T. Duke Mgmt For Against

Voter Rationale: Once again we cannot support former CEO Duke's continued presence on the executive committee of the board. We question the appropriateness of his continued role on the board given the ongoing FCPA investigation and allegations related to Director Duke's role in the sub-standard bribery investigation at Walmart de Mexico. The limited disclosure and engagement around this issue, notwithstanding that the investigation is still underway, is unacceptable and demonstrates insufficient accountability to shareholders.

1f Elect Director Timothy P. Flynn Mgmt For For

Voter Rationale: We are supporting this director this year as the new chair of the audit committee and we welcome the addition of a newly appointed independent director to the committee. We will continue to monitor the audit committee's responsiveness around the Mexico bribery allegations and will reassess next year whether Mr Flynn merits our continued support.

1g Elect Director Thomas W. Horton Mgmt For For

1h Elect Director Marissa A. Mayer Mgmt For For

1i Elect Director C. Douglas McMillon Mgmt For For

1j Elect Director Gregory B. Penner Mgmt For Against

Voter Rationale: Once again, we voted against G. Penner, a major shareholder and member of the Walton family, due to the ongoing lack of proper controls at the company and need for more independence on the board.

1k Elect Director Steven S. Reinemund Mgmt For For

1l Elect Director Kevin Y. Systrom Mgmt For For

1m Elect Director Jim C. Walton Mgmt For Against

Voter Rationale: We again voted against J. Walton, a major shareholder and member of the Walton family, due to ongoing lack of proper controls at the company and need for more independence on the board.

Page 287 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Wal-Mart Stores, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1n Elect Director S. Robson Walton Mgmt For For

Voter Rationale: We remain unable to support S. R. Walton, long-time chairman of the board, due to ongoing concerns over the lack of communication from the board regarding FCPA related violations. While we appreciate the disclosures around the enhanced compliance processes, rising costs associated with compliance failure and ongoing investigations merit additional communication related specifically to FCPA investigations. Furthermore, we believe this board lacks a sufficient number of truly independent directors to provide thorough, proactive oversight to such a large global company. This board would benefit from a truly independent chairman and shareholders would benefit from greater transparency and better engagement.

1o Elect Director Linda S. Wolf Mgmt For For

Voter Rationale: We continue to oppose the re-election of committee chairman, L. Wolf. We continue to have significant concerns regarding the company's overall poor governance practices and the lack of accountability to shareholders. The company's limited engagement around issues that shareholders have been raising for a number of years is unacceptable.

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale: The audit firm has served the company more than 20 years. While specific term limits for auditors is not a consensus best practice, there is value in gaining new perspectives on finances and controls. The board should consider a plan for bringing in a new auditing firm.

3 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale: The plan's structure and pay-for-performance results are not sufficiently strong. We are especially concerned by the ability of the compensation committee to adjust the incentive plan and the awarding of time-based stock to some named executive officers without a meaningful connection to performance or even retention given that the CEO transition was internal and expected. While some reforms to the plan have been introduced, we do not consider these sufficiently robust to address the underlying concerns we have in relation to the use of discretion and the arbitrary approach to adjust performance expectations.

4 Amend Omnibus Stock Plan Mgmt For For

5 Disclosure of Recoupment Activity from Senior SH Against For Officers Voter Rationale: Substantial restatements should trigger a reassessment and reclamation of performance-based compensation where this has been calculated on inaccurate figures. Also, the board should have the ability to "claw back" from executives that benefited from improper accounting, even if they were not directly responsible due to fraudulent activity or willful misconduct. The board should introduce options to recoup following major regulatory and other significant failings by senior management.

6 Provide Proxy Access Right SH Against For

7 Adopt Quantitative GHG Goals for Maritime SH Against Against Shipping Voter Rationale: The company's existing practices and disclosures sufficiently address the issues raised in this proposal.

8 Report on Incentive Compensation Plans SH Against For

Voter Rationale: Given our ongoing concerns with the company's compensation practices and how these are effectively linked to performance, support for the additional disclosure sought in this proposal is merited.

9 Require Independent Board Chairman SH Against For

Voter Rationale: This proposal merits support given the company's ownership structure and the overall lack of sufficient independence on the board.

Page 288 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Wells Fargo & Company

Meeting Date: 04/28/2015 Country: USA Meeting Type: Annual Ticker: WFC

Primary ISIN: US9497461015 Primary SEDOL: 2649100

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director John D. Baker, II Mgmt For For

1b Elect Director Elaine L. Chao Mgmt For For

1c Elect Director John S. Chen Mgmt For Against

Voter Rationale:

1d Elect Director Lloyd H. Dean Mgmt For For

1e Elect Director Elizabeth A. Duke Mgmt For For

1f Elect Director Susan E. Engel Mgmt For For

Voter Rationale: We have concerns about this director's long tenure and in particular as a member of the compensation committee, which should be comprised entirely of truly independent directors. Nevertheless we recognise the recent board refreshment and expect that in due course the remaining long-standing directors will transition and we will encourage the company to ensure that key committees remain fully independent.

1g Elect Director Enrique Hernandez, Jr. Mgmt For For

1h Elect Director Donald M. James Mgmt For For

1i Elect Director Cynthia H. Milligan Mgmt For For

Voter Rationale: We have concerns about this director's long tenure and in particular as a member of the nominations and governance committee, which should be comprised entirely of truly independent directors. Nevertheless we recognise the recent board refreshment and expect that in due course the remaining long-standing directors will transition and we will encourage the company to ensure that key committees remain fully independent.

1j Elect Director Federico F. Pena Mgmt For For

1k Elect Director James H. Quigley Mgmt For For

1l Elect Director Judith M. Runstad Mgmt For For

1m Elect Director Stephen W. Sanger Mgmt For For

Voter Rationale:

1n Elect Director John G. Stumpf Mgmt For For

Voter Rationale:

Page 289 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Wells Fargo & Company

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1o Elect Director Susan G. Swenson Mgmt For For

Voter Rationale: We have concerns about this director's long tenure and in particular as a member of the audit committee, which should be comprised entirely of truly independent directors. Nevertheless we recognise the recent board refreshment and expect that in due course the remaining long-standing directors will transition and we will encourage the company to ensure that key committees remain fully independent.

1p Elect Director Suzanne M. Vautrinot Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation Voter Rationale: We continue to support the bank's pay plan with caution. Although its performance has been commendable and there has been no evidence of compensation paid for below median performance, this could happen under the plan's current structure. We will continue to encourage the company to assess its compensation structures to ensure that these are designed to pay consistently for above-median performance.

3 Ratify KPMG LLP as Auditors Mgmt For For

Voter Rationale:

4 Require Independent Board Chairman SH Against For

Voter Rationale: Although we recognise that the company's lead director role is robust and that there has been some recent welcome board refreshment, the appointment of an independent chairman would provide greater balance to the current concentration of power in the incumbent CEO and chair. Also, an independent chairman would enhance the board's overall independence, particularly given the presence of a few remaining long-tenured directors. We will encourage the company to consider the separation of the roles as part of its ongoing succession planning of the CEO.

5 Report on Lobbying Payments and Policy SH Against For

Voter Rationale:

Westlake Chemical Corporation

Meeting Date: 05/15/2015 Country: USA Meeting Type: Annual Ticker: WLK

Primary ISIN: US9604131022 Primary SEDOL: B01ZP20

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director James Chao Mgmt For For

Voter Rationale:

Directors whose close family members are employed at the company are not sufficiently independent to serve on key board committees and should be considered affiliated directors.

1.2 Elect Director R. Bruce Northcutt Mgmt For For

Page 290 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Westlake Chemical Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.3 Elect Director H. John Riley, Jr. Mgmt For Withhold

Voter Rationale:

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

Voter Rationale:

Weyerhaeuser Company

Meeting Date: 05/22/2015 Country: USA Meeting Type: Annual Ticker: WY

Primary ISIN: US9621661043 Primary SEDOL: 2958936

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director David P. Bozeman Mgmt For For

1.2 Elect Director Debra A. Cafaro Mgmt For For

1.3 Elect Director Mark A. Emmert Mgmt For For

1.4 Elect Director John I. Kieckhefer Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1.5 Elect Director Wayne W. Murdy Mgmt For For

1.6 Elect Director Nicole W. Piasecki Mgmt For For

1.7 Elect Director Doyle R. Simons Mgmt For For

1.8 Elect Director D. Michael Steuert Mgmt For For

1.9 Elect Director Kim Williams Mgmt For For

1.10 Elect Director Charles R. Williamson Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Ratify KPMG LLP as Auditors Mgmt For For

Page 291 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

WHIRLPOOL CORPORATION

Meeting Date: 04/21/2015 Country: USA Meeting Type: Annual Ticker: WHR

Primary ISIN: US9633201069 Primary SEDOL: 2960384

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1a Elect Director Samuel R. Allen Mgmt For For

1b Elect Director Gary T. DiCamillo Mgmt For Against

Voter Rationale:

The nominating committee should remove directors who have long board tenure from committees that require absolute independence.

1c Elect Director Diane M. Dietz Mgmt For For

1d Elect Director Gerri T. Elliott Mgmt For For

1e Elect Director Jeff M. Fettig Mgmt For For

Voter Rationale:

1f Elect Director Michael F. Johnston Mgmt For For

1g Elect Director John D. Liu Mgmt For For

1h Elect Director Harish Manwani Mgmt For For

1i Elect Director William D. Perez Mgmt For For

1j Elect Director Michael A. Todman Mgmt For For

1k Elect Director Michael D. White Mgmt For For

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice.

3 Ratify Ernst & Young LLP as Auditors Mgmt For For

Voter Rationale:

Wynn Resorts, Limited

Meeting Date: 04/24/2015 Country: USA Meeting Type: Proxy Contest Ticker: WYNN

Primary ISIN: US9831341071 Primary SEDOL: 2963811

Page 292 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Wynn Resorts, Limited

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

Management Proxy (White Card) Mgmt

1.1 Elect Director John J. Hagenbuch Mgmt For Withhold

Voter Rationale: As the dissident nominee, as a long-tenured director, also bears responsibility for the manifest failures of governance incidental to her arguments but nonetheless highlighted by this proxy contest, shareholders may be best served by voicing their dissatisfaction with the status quo a and all nominees' complicity in it a by voting on the management card to WITHHOLD votes from both management nominees.

1.2 Elect Director J. Edward Virtue Mgmt For Withhold

2 Ratify Ernst & Young LLP as Auditors Mgmt For For

3 Amend Articles of Incorporation to Provide the Mgmt For Against Company with Additional Flexibility in Making Distribution to its Shareholders Voter Rationale: Changes in company bylaws or articles of incorporation should not erode shareholders' rights.

4 Report on Political Contributions SH Against For

Dissident Proxy (Gold Card) Mgmt

1.1 Elect Directors Elaine P. Wynn SH For Do Not Vote

1.2 Elect Directors J. Edward Virtue SH For Do Not Vote

2 Ratify Ernst & Young LLP as Auditors Mgmt For Do Not Vote

3 Amend Articles of Incorporation to Provide the Mgmt For Do Not Vote Company with Additional Flexibility in Making Distribution to its Shareholders

4 Report on Political Contributions SH Against Do Not Vote

Xerox Corporation

Meeting Date: 05/20/2015 Country: USA Meeting Type: Annual Ticker: XRX

Primary ISIN: US9841211033 Primary SEDOL: 2985202

Page 293 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Xerox Corporation

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Ursula M. Burns Mgmt For For

Voter Rationale:

1.2 Elect Director Richard J. Harrington Mgmt For For

1.3 Elect Director William Curt Hunter Mgmt For For

1.4 Elect Director Robert J. Keegan Mgmt For For

1.5 Elect Director Charles Prince Mgmt For For

1.6 Elect Director Ann N. Reese Mgmt For For

Voter Rationale:

1.7 Elect Director Stephen H. Rusckowski Mgmt For For

1.8 Elect Director Sara Martinez Tucker Mgmt For For

1.9 Elect Director Mary Agnes Wilderotter Mgmt For For

2 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

YELP INC.

Meeting Date: 05/20/2015 Country: USA Meeting Type: Annual Ticker: YELP

Primary ISIN: US9858171054 Primary SEDOL: B7KCD72

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Geoff Donaker Mgmt For Withhold

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

1.2 Elect Director Robert Gibbs Mgmt For Withhold

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders. Furthermore, directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability.

Page 294 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

YELP INC.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.3 Elect Director Jeremy Stoppelman Mgmt For For

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

Zebra Technologies Corporation

Meeting Date: 05/14/2015 Country: USA Meeting Type: Annual Ticker: ZBRA

Primary ISIN: US9892071054 Primary SEDOL: 2989356

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Richard L. Keyser Mgmt For For

1.2 Elect Director Ross W. Manire Mgmt For Withhold

Voter Rationale:

2 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

3 Approve Executive Incentive Bonus Plan Mgmt For For

4 Approve Omnibus Stock Plan Mgmt For Against

Voter Rationale:

The total cost of the equity plan is excessive.

5 Ratify Ernst & Young LLP as Auditors Mgmt For For

Zimmer Holdings, Inc.

Meeting Date: 05/05/2015 Country: USA Meeting Type: Annual Ticker: ZMH

Primary ISIN: US98956P1021 Primary SEDOL: 2783815

Page 295 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015

Zimmer Holdings, Inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1a Elect Director Christopher B. Begley Mgmt For For

1.1b Elect Director Betsy J. Bernard Mgmt For For

1.1c Elect Director Paul M. Bisaro Mgmt For For

1.1d Elect Director Gail K. Boudreaux Mgmt For For

1.1e Elect Director David C. Dvorak Mgmt For For

1.1f Elect Director Michael J. Farrell Mgmt For For

1.1g Elect Director Larry C. Glasscock Mgmt For Against

Voter Rationale:

1.1h Elect Director Robert A. Hagemann Mgmt For For

1.1i Elect Director Arthur J. Higgins Mgmt For For

1.1j Elect Director Cecil B. Pickett Mgmt For For

2 Amend Non-Employee Director Omnibus Stock Mgmt For For Plan

3 Amend Deferred Compensation Plan Mgmt For For

4 Advisory Vote to Ratify Named Executive Mgmt For Against Officers' Compensation Voter Rationale:

A larger percentage of the equity awards should be tied to performance conditions. At least 50% is a minimum good practice for large companies.

5 Ratify PricewaterhouseCoopers LLP as Auditors Mgmt For For

zulily, inc.

Meeting Date: 05/14/2015 Country: USA Meeting Type: Annual Ticker: ZU

Primary ISIN: US9897741040 Primary SEDOL: BGCC674

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.1 Elect Director Mike Gupta Mgmt For Withhold

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders.

Page 296 of 297

SEI U.S. Large Companies Fund All Votes Report

Vote Summary Report Date range covered: 04/01/2015 to 06/30/2015 zulily, inc.

Proposal Vote Number Proposal Text Proponent Mgmt Rec Instruction

1.2 Elect Director Youngme Moon Mgmt For Withhold

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders. Furthermore, directors are elected in classes rather than annually, but shareholders should have the opportunity to communicate with directors regularly on their performance. The board should take immediate steps to declassify itself, thereby enhancing accountability.

1.3 Elect Director Spencer Rascoff Mgmt For Withhold

Voter Rationale:

We oppose dual class structures with impaired or enhanced voting rights. The company should amend its structure to allow for equal voting rights among stockholders. Furthermore, this director's commitments, as a top officer and director at more than two public companies, are excessive and likely to jeopardize the ability to provide appropriate oversight on all boards. CEOs and CFOs make valuable board members but also face tremendous demands on their time.

2 Ratify Deloitte & Touche LLP as Auditors Mgmt For For

3 Advisory Vote to Ratify Named Executive Mgmt For For Officers' Compensation

4 Advisory Vote on Say on Pay Frequency Mgmt Three Years One Year

Page 297 of 297

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The information, opinions estimates or forecasts contained in this document were obtained from sources reasonably believed to be reliable and are subject to change at any time. The report reﬂects voting instructions given, not votes cast and the information has been provided by an external supplier. BMO Global Asset Management may from time to time deal in investments that may be mentioned herein on behalf of their clients. © 2015 BMO Global Asset Management. All rights reserved. BMO Global Asset Management is a trading name of F&C Management Limited, which is authorised and regulated by the Financial Conduct Authority.