¹Total assets combine River Road’s (1) total firm assets (as defined by GIPS@) and (2) advisory-only assets (no control over implementation of investment decisions and no trading authority). Total assets are supplemental information. Advisory-only assets currently reported on a one-month lag. However, different reporting methodologies were used historically. As of December 31 , 2024, $2.16 B of total assets are advisory-only assets invested in the DAV ($1.50 B), SMID ($381 MM), LCVS ($108 MM), SCV ($107 MM), FAV ($56 MM), and MCV ($1 MM) strategies. 2Excludes associate portfolio managers. 3River Road executives and senior professionals hold 21 % of the firm’s equity (includes shareholder(s) in the process of selling equity due to retirement or that transitioned into advisory roles). 41nvestment guidelines (such as number of holdings) are working policies and, as such, may vary depending on market conditions and other factors and are subject to change without notification.5RRAM’s investment approach, processes, and investment decisions will not always be profitable. RRAM’s investment approach and style have and can be out of favor.5Strategy inception date 1 November 2004.