ORGANISATION PHILOSOPHY PROCESS INVESTMENT TEAM NOTIFICATIONS CONTACT US PHILOSOPHY Edgbaston is a bottom up, value investor focused on the entire spectrum of market capitalisation of stocks in developed, emerging and frontier markets in the Asia Pacific ex-Japan region. The firm’s investment style has a strong price discipline and an income bias. Securities in the Investment Programme are typically attractive on the basis of classic valuation measures such as DY, P/E, and P/B. All of Edgbaston’s investment decisions are made with a long investment horizon. Edgbaston’s investment philosophy focuses on three types of risk: valuation risk, business risk, and balance sheet risk. Of the three, valuation risk is considered the most important. High valuations lower the margin of safety inherent in the purchase price of an investment. Business risk is weighed against balance sheet risk. Edgbaston Investment Partners LLP 105 Piccadilly London W1J 7NJ United Kingdom Email: clients@edgbastonip.com US: +1 (713) 851-8769 London: +44 (0)20 7258-3170 Facsimile: +44 (0)20 7258-3188 All Rights Reserved | Disclaimer | Designed and built by Comtecs

ORGANISATION PHILOSOPHY PROCESS INVESTMENT TEAM NOTIFICATIONS CONTACT US UK STEWARDSHIP CODE AND PROXY VOTING The UK Stewardship Code (the “Code”) is a voluntary code which sets out a number of principles relating to engagement by investors. Under FCA regulatory standards, Edgbaston Investment Partners LLP (“Edgbaston”) must either state the nature of its commitment to the Code or, if it chooses not to commit in full, its reasons for adopting that stance. Edgbaston is not a signatory to the 2012 version of the Code. This position will be re-assessed with reference to the 2020 version of the Code in due course. Currently, whilst Edgbaston generally supports the objectives that underlie the Code, it does not consider it appropriate to commit to any code of practice relating to any individual jurisdiction. The firm does however recognise the need to engage with the management and directors of its portfolio companies and to exercise its proxy voting rights with a view to enhancing its clients’ long-term investment values. More detailed information on Edgbaston’s approach to stewardship and its policies with respect to proxy voting and corporate governance can be found here. Edgbaston Investment Partners LLP 105 Piccadilly London W1J 7NJ United Kingdom Email: clients@edgbastonip.com US: +1 (713) 851-8769 London: +44 (0)20 7258-3170 Facsimile: +44 (0)20 7258-3188 All Rights Reserved | Disclaimer | Designed and built by Comtecs