artisan international value fund institutional share class (as of september 30, 2013) This is an offering of shares of an Artisan Fund and does not create a relationship between the investor and Artisan Partners. The Notes and Disclosures section of this presentation contains important information. Readers are encouraged to review it carefully. Investors should consider carefully before investing the fund’s investment objective, risks and charges and expenses. For a prospectus or summary prospectus, which contains that information and other information about the fund, please call us at 1-800-399-1770. Please read the prospectus or summary prospectus carefully before you invest or send money. artisan international value fund is closed to most new investors. please refer to the prospectus for new account eligibility criteria. for sophisticated institutional investor use only. artisan international value fund CONTENTS TAB SECTION I FIRM OVERVIEW II INVESTMENT PHILOSOPHY AND PROCESS III PORTFOLIO STATISTICS APPENDIX FUND PERFORMANCE BIOGRAPHIES NOTES AND DISCLOSURES The Notes and Disclosures section of this presentation contains information important to a complete understanding of the material presented. Please review it carefully. artisan partners distributors, llc INTV-MF artisan international value fund FIRM FACTS • Founded in 1994; solely focused on providing high value-added Growth investment strategies • Global Opportunities • U.S. Mid-Cap Growth • U.S. Small-Cap Growth • Five autonomous investment teams managing thirteen investment strategies for sophisticated, institutional investors Global Equity • Principal offices in Milwaukee, San Francisco, Atlanta, New York and • Global Equity • Global Small-Cap Growth London, with 294 associates • Non-U.S. Growth • Non-U.S. Small-Cap Growth • Approximately $96.9 billion under management as of September 30, 2013 U.S. Value • Value Equity AUM by Investment Team AUM by Client Type • U.S. Mid-Cap Value as of September 30, 2013 as of September 30, 2013 • U.S. Small-Cap Value 20% 22% 25% Global Value Institutional Global Equity Team • Global Value Defined Contribution 44% • Non-U.S. Value Global Value Team 6% Financial Advisor Emerging Markets Team Retail U.S. Value Team 10% Broker Dealer Emerging Markets Growth Team 22% • Emerging Markets 29% 2% 20% artisan partners distributors, llc -1- artisan international value fund INTERNATIONAL VALUE INVESTMENT TEAM N. David Samra Daniel J. O’Keefe Lead Portfolio Manager Portfolio Manager 20 years of investment experience 20 years of investment experience Ian P. McGonigle, CFA Michael J. McKinnon, CFA Justin V. Bandy, CFA Analyst Analyst Analyst 15 years of investment experience 10 years of investment experience 9 years of investment experience Joseph Vari Andrew P. Bernstein Konstantinos A. Mihalopoulos Analyst Analyst Research Associate 15 years of investment experience 2 years of investment experience 1 year of investment experience artisan partners distributors, llc -2- INTV artisan international value fund PERFORMANCE SUMMARY Average Annual Total Returns as of 31-Oct-13 October YTD 1 Year 3 Year Inception Oklahoma Municipal Retirement Fund - DB Balanced Fund 2.94% 25.62% 33.98% 15.21% 15.59% Oklahoma Municipal Retirement Fund - DC Balanced Fund 2.94% 25.57% 33.93% 15.19% 15.58% Oklahoma Municipal Retirement Fund - International Equity Fund 2.94% 25.57% 33.93% 15.19% 15.58% MSCI EAFE Index 3.36% 20.05% 26.88% 8.38% 9.21% The time-weighted returns shown above, which do not take cash flows into consideration, are net of fees and expenses and are computed by calculating daily internal rates of return and then geometrically linking those daily returns. Total returns for periods less than one year are not annualized. Performance is calculated using the date on which you first invested in the Fund as your “inception” date. The inception date of the account is 28-Apr-10. Date Amount # Shares NAV Ending Oklahoma Municipal Retirement Fund – DB Balanced Fund 31-Oct-13 $26,863,895.32 703,059.286 $38.21 Market Oklahoma Municipal Retirement Fund – DC Balanced Fund 31-Oct-13 $3,766,358.71 98,569.974 $38.21 Value Oklahoma Municipal Retirement Fund – International Equity Fund 31-Oct-13 $4,282,674.04 112,082.545 $38.21 Average Annual Total Returns as of 30-Sep-13 Linked Institutional & Investor Shares 3Q13 YTD 1 Year 3 Year 5 Year 7 Year Inception 10 Year Inception Artisan International Value Fund 12.01% 21.98% 30.92% 15.75% 13.37% 8.08% 8.08% 13.42% 15.82% - Institutional Shares MSCI EAFE Index 11.56% 16.14% 23.77% 8.47% 6.35% 2.40% 2.40% 8.01% 9.55% MSCI EAFE Value Index 12.63% 15.71% 24.27% 7.99% 5.86% 1.28% 1.28% 7.94% 9.79% Past performance does not guarantee and is not a reliable indicator of future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For currenttomostrecentmonth-endperformance, call 800.399.1770. The performance information shown does not reflect the deduction of a 2% redemption fee on shares held by an investor for 90 days or less and, if reflected, the fee would reduce the performance quoted. Source: Artisan Partners/MSCI. Total returns for periods less than one year are not annualized. Investor shares inception date is 23-Sep-02. Institutional shares inception date is 1-Oct-06. Performance data shown relates to institutional shares from 1-Oct-06 forward and for investor shares prior to 1-Oct-06. artisan partners distributors, llc -3- INTV-MF-I- l artisan international value fund PERFORMANCE SUMMARY Average Annual Total Returns as of 31-Oct-13 Fund Performance October YTD 1 Year 3 Year 29-Apr-10 - 31-Oct-13 Artisan International Value Fund - Investor Shares 2.89% 25.35% 33.70% 14.98% 14.71% MSCI EAFE Index 3.36% 20.05% 26.88% 8.38% 8.91% The returns shown above are net of fees and expenses and total returns for periods less than one year are not annualized. Performance is calculated using the date on which you first invested in the Fund as your “inception” date. The inception date of the account is 29-Apr-10. Date Amount # Shares NAV BRICS & Co FBO OMRF DC INTL EQ 31-Oct-13 $286,119.75 7,513.649 $38.08 Ending Market Value BRICS & Co FBO OMRF DC INTL INV 31-Oct-13 $831,089.18 21,824.821 $38.08 Average Annual Total Returns as of 30-Sep-13 3Q13 YTD 1 Year 3 Year 5 Year 7 Year 10 Year Inception Artisan International Value Fund - Investor Shares 11.98% 21.82% 30.71% 15.54% 13.16% 7.88% 13.26% 15.67% MSCI EAFE Index 11.56% 16.14% 23.77% 8.47% 6.35% 2.40% 8.01% 9.55% MSCI EAFE Value Index 12.63% 15.71% 24.27% 7.99% 5.86% 1.28% 7.94% 9.79% Past performance does not guarantee and is not a reliable indicator of future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For currenttomostrecentmonth-endperformance, call 800.399.1770. The performance information shown does not reflect the deduction of a 2% redemption fee on shares held by an investor for 90 days or less and, if reflected, the fee would reduce the performance quoted. Source: Artisan Partners/MSCI. Total returns for periods less than one year are not annualized. Inception date of Fund 23-Sep-02. artisan partners distributors, llc -4- INTV-MF artisan international value fund INVESTMENT PHILOSOPHY Artisan International Value Fund is focused on identifying high quality, undervalued businesses that offer the potential for superior risk/reward outcomes. Long-Term Value Investing Risk Management Investment Horizon Undervalued Companies Quality Businesses Financial Strength Shareholder-Oriented Management artisan partners distributors, llc -5- INTV-MF artisan international value fund INVESTMENT PROCESS – VALUE INVESTING Undervalued Quality Business Financial Strength Management • Intrinsic valuation • Free cash flow • Return on capital • Value-oriented • Value of a company’s • Competitive strength • Debt levels • Governance net assets • Barriers to entry • Profitability • Ownership Business Valuation Discipline Portfolio Business Analysis Idea Generation artisan partners distributors, llc -6- INTV-MF artisan international value fund INVESTMENT PROCESS – RISK MANAGEMENT Time Value of Money • Truly undervalued companies versus statistically cheap companies Business Value Volatility • Avoid high degrees of financial and operating leverage Business Valuation Discipline Portfolio Business Analysis Idea Generation artisan partners distributors, llc -7- INTV-MF artisan international value fund INVESTMENT PROCESS OVERVIEW Business Valuation Discipline Portfolio • 40 – 60 Holdings • Degree of Undervaluation Risk Management • Time Value of Money • Business Value Volatility Business Analysis • Undervalued • Financial Strength • Quality Business • Management Idea Generation • Qualitative Screen • Key Word Search • Quantitative Screen • Knowing Our Markets artisan partners distributors, llc -8- INTV-MF artisan international value fund INVESTMENT PROCESS – IDEA GENERATION Investment Universe Non-U.S. equities of all market caps Qualitative Screen Quantitative Screen Key Word Search Knowing Our Markets • Prejudicial org structures • Low P/E, P/B • Profit warning • Cheap companies • Inadequate laws • Dividend yield • Spin-off • Out-of-favor businesses • Inadequate accounting • Stock down • Restructuring • Good companies disclosures • Money losers • Disenfranchised richly priced • Regulatory immaturity • Earnings growth shareholders • Cash-flow generators • Analyze financial reports and documents • Review business trends and profitability Work List • Form opinion on management ability Primary Data, Valuation, Proprietary Research • Market share and FCF sustainability • Competitor and customer checks • Long-term DCF modeling Business Valuation Discipline Estimate of Intrinsic Value Portfolio Business Analysis Idea Generation *Limitations apply at the time of purchase in the portfolio.