ORGANISATION PHILOSOPHY PEOPLE CONTACT | DISCLOSURE CONTACT Further information about Sanderson Asset Management is available on request. Please contact: Sue Mullin Director of Marketing & Client Service Telephone: 312-262-0395 E-mail: Sanderson Asset Management ©2021 SANDERSON ASSET MANAGEMENT Authorised and regulated by the Financial Conduct Authority. Registered with the SEC.

ORGANISATION PHILOSOPHY PEOPLE CONTACT | DISCLOSURE ORGANISATION We are unique and investment focused. Sanderson Asset Management LLP is an independent investment management firm offering an international value equity programme to our clients which include foundations, endowments, corporations and family offices. We seek to provide our clients stability, superior performance and exceptional service, and we apply a long-term perspective to both our investment programme and the management of our business. Our independence allows us to maintain focus, and a strict adherence to our investment discipline prevents us from being distracted by short-term matters. Our business model focuses on the investment programme, emphasizing a streamlined infrastructure that allows our investment professionals to work in an environment that is conducive to producing superior results on a consistent long-term basis. Employing a team approach, our proven investment process and business model are not dependent on specific individuals to be successful over time. To ensure the investment programme will not be compromised by its growth, we have defined and adhere to conservatively established capacity limits. ©2021 SANDERSON ASSET MANAGEMENT Authorised and regulated by the Financial Conduct Authority. Registered with the SEC.

ORGANISATION PHILOSOPHY PEOPLE CONTACT | DISCLOSURE PHILOSOPHY We appeal to the investor who is diligent, patient and rational. We believe that international equity markets contain inefficiencies that can be exploited. These inefficiencies arise as a result of investors’ psychology, benchmark concerns and increasing short-term timescales. Practically speaking, we believe exploiting inefficiencies is “easier” at the individual stock level rather than through overall market or economic forecasting. We focus our efforts on a single long-only programme, and we are dedicated to the preservation of our clients’ capital. We have a consistent and replicable investment approach. It focuses on buying sound franchises at prices that allow for returns to compound meaningfully over time. This approach coupled with our programme, which is not benchmark-sensitive, has the potential to provide superior returns over time. We aim to identify high-quality companies where there is a significant discount between the price we are paying and our estimation of the intrinsic value of the business and believe that a genuine long-term time horizon is key to the process. ©2021 SANDERSON ASSET MANAGEMENT Authorised and regulated by the Financial Conduct Authority. Registered with the SEC.