EUR Model - Moderate (USD Denominated)

Total Return Level % Change Benchmark Total Return Level % Change

December 17, 2015 through December 17, 2025 The investment seeks to track the performance of a blended benchmark through
investment in Fixed Income ETFs & equity securities deploying a core plus satellite
investment strategy; growth being a secondary objective.

Performance quoted with asset management fees of 0.5% (excluding platform &
transaction costs). Fees may vary for private wealth service clients. Positions may
deviate due to drift between custodians.

All performance results in this document are denominated in USD and are subject to
currency conversion rates. Investments that involve exposure to foreign currencies may
be impacted by changes in exchange rates and this may materially impact performance.
The value of investments denominated in foreign currencies and/or the income from
Performance data quoted presents past performance; past performance does not guarantee future results; the investment return those investments may increase or decrease in response to divergence in the
and principal value of an investment will fluctuate; an investor’s shares, when redeemed, may be worth more or less than their relationships between currencies.
original cost; current performance may be lower or higher than quoted performance data and can be accessed at
[Link] The performance stated in this document does not include the potential impact of
currency conversion charges, which may differ from platform to platform.
Performance 1M 3M 6M YTD 1Y* 3Y* 5Y* 10Y* AT*
Total Return 0.42% 0.97% 7.74% 13.91% 10.81% 9.65% 3.48% 6.10% 6.43% Benchmark: 50/50 - MSCI ACWI / Advisory Fee Annually, 0.50%
Bloomberg Global Agg
Benchmark 0.65% 1.07% 6.73% 13.62% 11.15% 10.80% 3.70% 5.62% 5.83%
Rebalance Frequency: Quarterly Expense Ratio 0.13%
*Figures are annualized.
Max Fee: --
Total Returns 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 YTD
Model Portfolio -2.34% 5.53% 13.10% -5.05% 17.80% 15.90% 6.94% -18.18% 11.88% 5.73% 13.91% Asset Allocation % Net % Long % Short
Cash 4.33% 4.40% 0.07%
Benchmark -3.50% 4.00% 14.35% -6.01% 15.32% 13.00% 5.70% -17.94% 12.77% 6.82% 13.62%
Stock 45.14% 45.14% 0.00%
Fundamentals Region Exposure Bond 49.76% 49.79% 0.03%
Distribution Yield 3.48% Americas 76.47% Convertible 0.02% 0.02% 0.00%
Dividend Yield 3.48% North America 74.63% Preferred 0.01% 0.01% 0.00%
Weighted Avg PE 22.57 Latin America 1.84% Other 0.74% 0.74% 0.00%
Weighted Avg P/S 2.615 Greater Europe 13.09%
Market Capitalization
Weighted Med ROE 24.38% United Kingdom 2.80%
Giant 39.12% Small 7.72%
Yield to Maturity 4.61% Europe - Developed 8.60%
Large 31.01% Micro 1.48%
Effective Duration 8.792 Europe - Emerging 0.44%
Medium 20.67%
Average Coupon 3.78% Africa and Middle East 1.22%
Avg Credit Qual Scr 4.866 Greater Asia 10.44%
Bond Sector Exposure
Japan 2.71%
Top 10 Holdings Government 62.28% Municipal 0.19%
Australasia 0.88%
HOLDING WEIGHT Corporate 24.49% Cash 3.73%
Asia - Developed 2.83%
Vanguard Total Bond Market Index…und ETF 22.78% Securitized 9.31% Derivative 0.00%
Asia - Emerging 3.99%
Vanguard 500 Index Fund ETF 19.63%
Stock Sector Exposure
Vanguard Long-Term Treasury Ind…und ETF 19.53% Stock Style Exposure
Basic Materials 3.82%
Vanguard FTSE All-World ex US In…und ETF 13.22% Large Cap Value 20.24%
Communication Services 7.21%
VanEck International High Yield Bond ETF 4.95% Large Cap Blend 30.48%
Vanguard Small-Cap Index Fund ETF 4.56% Large Cap Growth 19.43% Consumer Cyclical 9.60%

First Trust Global Tactical Commo…tegy Fd 3.04% Mid Cap Value 5.98% Consumer Defensive 4.46%

Avantis Emerging Markets Equity ETF 2.62% Mid Cap Blend 8.51% Energy 3.36%

Invesco International Corporate Bond ETF 2.53% Mid Cap Growth 6.19% Financial Services 15.43%
First Trust Nasdaq Cybersecurity ETF 2.15% Small Cap Value 3.06% Healthcare 8.18%
Small Cap Blend 4.06% Industrials 12.21%
Top 10 Underlying Holdings Small Cap Growth 2.04% Real Estate 5.52%
HOLDING WEIGHT
Technology 27.23%
USD Cash 1.64% Bond Credit Quality Exposure
Utilities 2.98%
NVIDIA Corp. 1.47% AAA 72.54%
Apple, Inc. 1.39% AA 1.91%
Bond Maturity Exposure
Microsoft Corp. 1.23% A 7.96%
Short Term (<1 Year) 4.31%
Broadcom Inc. 0.86% BBB 7.95%
Intermediate (1-10 Years) 38.88%
[Link], Inc. 0.76% BB 5.83%
Long Term (>10 Years) 56.81%
Alphabet, Inc. 0.62% B 2.96%
EUR Cash 0.60% Below B 0.27% Risk 3Y 5Y 10Y
United States of America USGB 4.…ernment 0.53% Not Rated 0.58% Alpha -1.240 -0.1592 0.7043
United States of America USGB 4.…ernment 0.51% Beta 1.072 1.010 0.9440
Standard Deviation 8.51% 9.71% 9.05%
Historical Sharpe Ratio 0.5436 0.083 0.4375
2025 YCharts, Inc. All Rights Reserved. YCharts, Inc. ('YCharts') is not registered with the U.S. Securities and Exchange Commission (or with theDrawdown
Max securities regulatory authority or body of any state or any24.22%
20.03% other jurisdiction) as an
24.22%
investment adviser, broker-dealer or in any other capacity, and does not purport to provide investment advice or make investment recommendations. This report has been generated using data manually input by the creator of this
VaR 5% 0.82% 0.99%
report combined with data and calculations from [Link] and is intended solely to assist you or your investment or other adviser(s) in conducting investment research. You should not construe this report as an offer to buy or 0.82%
sell, as a solicitation of an offer to buy or sell, or as a recommendation to buy, sell, hold or trade, any security or other nancial instrument. THE IMPORTANT
Historical SortinoDISCLOSURES FOUND AT THE END OF THIS REPORT
0.992 0.1227(WHICH INCLUDE
0.5242
DEFINITIONS OF CERTAIN TERMS USED IN THIS REPORT) ARE AN INTEGRAL PART OF THIS REPORT AND MUST BE READ IN CONJUNCTION WITH YOUR REVIEW OF THIS REPORT. For further information regarding your use of this
report, please go to: [Link]

Dec. 17, 2025 Built with Page 1 of 19

EUR Model - Moderate (USD Denominated)
Important Information About This Report

This report is supplemental material, and when applicable, must be accompanied by a prospectus or equivalent document. These disclosures contain
important information for an investor and their financial professional. They cover key terms, criteria, methodology, assumptions, risks, and limitations
outlined in this report.

Investors should carefully consider an investment’s objectives, risks, charges and expenses. This and other important information is contained in the
prospectus or equivalent document which can be obtained from their financial professional and should be read carefully before investing.

This report should not be solely relied upon for making investment decisions. Investing carries inherent risks, including the potential for financial loss. It is
advisable to seek guidance from legal, tax, or other advisors, including your financial professional, before making any investment decisions. This report is
not an official account statement or other official document of a financial professional or any other party, and it does not constitute legal or tax advice;
investors should consult with their legal and tax advisors for such advice.

The data contained or used in generating this report has not been audited or verified by your financial professional or any other party, and any use of this
report should be made with this understanding. All data included in this report is based on the latest data available to YCharts as of the indicated release
date, may not be an accurate reflection of current data for the report securities or any portfolios included and is subject to change without notice.

Standardized Returns

The performance data quoted is past performance, past performance does not guarantee future results, and current performance may be lower or higher
than the performance data quoted. The return and principal value of an investment will fluctuate which means that an investor’s shares, when redeemed,
may be worth more or less than their original cost. The most recent month end performance data can be accessed at
[Link]

Standardized returns are annualized total returns that reflect the reinvestment of dividends and capital gains and ongoing fund expenses for all fund types.
Load-adjusted annualized returns also reflect the deduction of any sales charges associated with purchasing or selling mutual fund shares, but do not
reflect the deduction of taxes. If reflected, taxes would have had a negative effect on the performance quoted.

Investments in money market funds are neither insured nor guaranteed by the Federal Deposit Insurance Corporation (FDIC), National Credit Union
Administration (NCUA), or any other governmental agency. Although a money-market fund seeks to preserve the value of its investment at $1 per share, it
is possible to lose money. Non-bank deposit investments are not FDIC- or NCUA-insured, are not guaranteed by the bank/financial institution, and are
subject to risk, including loss of principal invested.

Load-adjusted Annualized Returns Data as of: September 30, 2025

Since
Security Name Inception Date 1Y 3Y 5Y 10Y Inception
Fidelity Government Cash Reserves May. 10, 1979 4.19% 4.54% 2.81% 1.83% 4.35%

Annualized Returns (Market Price) Data as of: September 30, 2025

Since
Security Name Inception Date 1Y 3Y 5Y 10Y Inception
EUR Model - Moderate (USD Denominated) -- 8.23% 11.94% 4.65% 6.17% 6.47%
50/50 - MSCI ACWI / Bloomberg Global Agg -- 8.96% 13.19% 5.05% 5.72% 5.86%

2025 YCharts, Inc. All Rights Reserved. YCharts, Inc. ('YCharts') is not registered with the U.S. Securities and Exchange Commission (or with the securities regulatory authority or body of any state or any other jurisdiction) as an
investment adviser, broker-dealer or in any other capacity, and does not purport to provide investment advice or make investment recommendations. This report has been generated using data manually input by the creator of this
report combined with data and calculations from [Link] and is intended solely to assist you or your investment or other adviser(s) in conducting investment research. You should not construe this report as an offer to buy or
sell, as a solicitation of an offer to buy or sell, or as a recommendation to buy, sell, hold or trade, any security or other nancial instrument. THE IMPORTANT DISCLOSURES FOUND AT THE END OF THIS REPORT (WHICH INCLUDE
DEFINITIONS OF CERTAIN TERMS USED IN THIS REPORT) ARE AN INTEGRAL PART OF THIS REPORT AND MUST BE READ IN CONJUNCTION WITH YOUR REVIEW OF THIS REPORT. For further information regarding your use of this
report, please go to: [Link]

Dec. 17, 2025 Built with Page 2 of 19

EUR Model - Moderate (USD Denominated)
Annualized Returns (Market Price) Data as of: September 30, 2025

Since
Security Name Inception Date 1Y 3Y 5Y 10Y Inception
Avantis Emerging Markets Equity ETF Sep. 19, 2019 20.04% 21.39% 10.71% -- 9.79%
First Trust Europe AlphaDEX Fund Apr. 18, 2011 35.93% 29.29% 13.16% 9.23% 6.34%
First Trust Global Tactical Commodity Strategy Fd Oct. 22, 2013 12.18% 7.00% 14.42% 4.42% 1.16%
First Trust NASDAQ Cln Edge Smart Grid Infra Ix Fd Nov. 16, 2009 20.05% 27.65% 20.39% 18.23% 11.92%
First Trust Nasdaq Cybersecurity ETF Jul. 06, 2015 28.65% 25.91% 17.34% 16.66% 14.77%
Invesco CurrencyShares Euro Trust Dec. 09, 2005 6.72% 7.84% 0.55% 0.34% 0.13%
Invesco International Corporate Bond ETF Jun. 02, 2010 5.04% 10.44% -1.08% 1.19% 2.00%
VanEck International High Yield Bond ETF Apr. 02, 2012 7.95% 13.06% 3.12% 4.62% 4.15%
Vanguard 500 Index Fund ETF Sep. 07, 2010 17.52% 24.88% 16.44% 15.26% 14.86%
Vanguard FTSE All-World ex US Index Fund ETF Mar. 02, 2007 16.91% 20.89% 10.47% 8.44% 4.74%
Vanguard Global ex-US Real Estate Index Fd ETF Nov. 01, 2010 7.06% 11.19% 3.04% 3.33% 3.60%
Vanguard Long-Term Treasury Index Fund ETF Nov. 19, 2009 -3.49% 0.40% -7.79% -0.14% 2.63%
Vanguard Real Estate Index Fund ETF Sep. 23, 2004 -2.40% 8.93% 7.01% 6.09% 7.48%
Vanguard Small-Cap Index Fund ETF Jan. 26, 2004 8.74% 15.95% 12.22% 10.57% 9.49%
Vanguard Total Bond Market Index Fund ETF Apr. 03, 2007 2.87% 4.93% -0.46% 1.83% 3.11%

Annualized Returns (NAV) Data as of: September 30, 2025

Since
Security Name Inception Date 1Y 3Y 5Y 10Y Inception
Avantis Emerging Markets Equity ETF Sep. 19, 2019 19.65% 21.32% 10.83% -- 9.61%
First Trust Europe AlphaDEX Fund Apr. 18, 2011 35.02% 28.87% 12.97% 9.16% 6.61%
First Trust Global Tactical Commodity Strategy Fd Oct. 22, 2013 12.10% 6.98% 14.39% 4.41% 1.12%
First Trust NASDAQ Cln Edge Smart Grid Infra Ix Fd Nov. 16, 2009 20.08% 27.53% 20.41% 18.27% 11.95%
First Trust Nasdaq Cybersecurity ETF Jul. 06, 2015 28.49% 25.84% 17.35% 16.70% 14.78%
Invesco CurrencyShares Euro Trust Dec. 09, 2005 6.54% 7.88% 0.56% 0.37% 0.19%
Invesco International Corporate Bond ETF Jun. 02, 2010 4.83% 10.48% -1.08% 1.17% 2.01%
VanEck International High Yield Bond ETF Apr. 02, 2012 8.34% 12.94% 3.15% 4.59% 4.35%
Vanguard 500 Index Fund ETF Sep. 07, 2010 17.56% 24.90% 16.43% 15.26% 14.95%
Vanguard FTSE All-World ex US Index Fund ETF Mar. 02, 2007 16.97% 20.99% 10.50% 8.44% 4.88%
Vanguard Global ex-US Real Estate Index Fd ETF Nov. 01, 2010 6.62% 11.29% 2.98% 3.33% 3.63%
Vanguard Long-Term Treasury Index Fund ETF Nov. 19, 2009 -3.48% 0.41% -7.78% -0.15% 2.66%
Vanguard Real Estate Index Fund ETF Sep. 23, 2004 -2.34% 8.95% 7.01% 6.10% 7.53%
Vanguard Small-Cap Index Fund ETF Jan. 26, 2004 8.67% 15.94% 12.22% 10.57% 9.32%
Vanguard Total Bond Market Index Fund ETF Apr. 03, 2007 2.90% 4.94% -0.46% 1.84% 3.13%

2025 YCharts, Inc. All Rights Reserved. YCharts, Inc. ('YCharts') is not registered with the U.S. Securities and Exchange Commission (or with the securities regulatory authority or body of any state or any other jurisdiction) as an
investment adviser, broker-dealer or in any other capacity, and does not purport to provide investment advice or make investment recommendations. This report has been generated using data manually input by the creator of this
report combined with data and calculations from [Link] and is intended solely to assist you or your investment or other adviser(s) in conducting investment research. You should not construe this report as an offer to buy or
sell, as a solicitation of an offer to buy or sell, or as a recommendation to buy, sell, hold or trade, any security or other nancial instrument. THE IMPORTANT DISCLOSURES FOUND AT THE END OF THIS REPORT (WHICH INCLUDE
DEFINITIONS OF CERTAIN TERMS USED IN THIS REPORT) ARE AN INTEGRAL PART OF THIS REPORT AND MUST BE READ IN CONJUNCTION WITH YOUR REVIEW OF THIS REPORT. For further information regarding your use of this
report, please go to: [Link]

Dec. 17, 2025 Built with Page 3 of 19

EUR Model - Moderate (USD Denominated)
Expense Ratios, Sales Charges & Standardized Yields Data as of: September 30, 2025

Prosp
Max Max Max Prosp Gross
Front Def Red Exp Exp 30-Day Unsub SEC
Security Name Load Load Fee Ratio Ratio 7-Day SEC Yield 30-Day SEC Yield Yield
Avantis Emerging Markets… 0.00% -- 0.00% 0.33% 0.33% -- 2.00% (11/30/25) 2.00% (11/30/25)
Fidelity Government Cash R… -- -- -- 0.39% 0.39% 3.67% (11/30/25) 4.36% (11/30/24) --
First Trust Europe AlphaDE… 0.00% -- 0.00% 0.80% 0.80% -- 1.98% (11/30/25) --
First Trust Global Tactical … 0.00% -- 0.00% 0.98% 0.98% -- 2.19% (11/30/25) --
First Trust NASDAQ Cln Ed… 0.00% -- 0.00% 0.56% 0.56% -- 1.25% (11/30/25) 1.25% (11/30/25)
First Trust Nasdaq Cyberse… 0.00% -- 0.00% 0.59% 0.59% -- 0.98% (11/30/25) --
Invesco CurrencyShares Eu… 0.00% -- 0.00% 0.40% 0.40% -- 0.71% (11/30/25) 0.71% (11/30/25)
Invesco International Corp… 0.00% -- 0.00% 0.50% 0.50% -- 3.27% (11/30/25) 3.01% (8/31/22)
VanEck International High … 0.00% -- 0.00% 0.40% 0.40% -- 5.38% (11/30/25) 5.38% (11/30/25)
Vanguard 500 Index Fund E… 0.00% -- 0.00% 0.03% 0.03% -- 1.10% (11/30/25) 1.10% (11/30/25)
Vanguard FTSE All-World e… 0.00% -- 0.00% 0.04% 0.04% -- 0.00% (11/30/22) --
Vanguard Global ex-US Rea… 0.00% -- 0.00% 0.12% 0.12% -- 0.00% (11/30/22) --
Vanguard Long-Term Treas… 0.00% -- 0.00% 0.03% 0.03% -- 4.72% (11/30/25) 4.72% (11/30/25)
Vanguard Real Estate Inde… 0.00% -- 0.00% 0.13% 0.13% -- 0.00% (11/30/22) --
Vanguard Small-Cap Index… 0.00% -- 0.00% 0.05% 0.05% -- 1.33% (11/30/25) 1.33% (11/30/25)
Vanguard Total Bond Mark… 0.00% -- 0.00% 0.03% 0.03% -- 4.14% (11/30/25) 4.14% (11/30/25)

2025 YCharts, Inc. All Rights Reserved. YCharts, Inc. ('YCharts') is not registered with the U.S. Securities and Exchange Commission (or with the securities regulatory authority or body of any state or any other jurisdiction) as an
investment adviser, broker-dealer or in any other capacity, and does not purport to provide investment advice or make investment recommendations. This report has been generated using data manually input by the creator of this
report combined with data and calculations from [Link] and is intended solely to assist you or your investment or other adviser(s) in conducting investment research. You should not construe this report as an offer to buy or
sell, as a solicitation of an offer to buy or sell, or as a recommendation to buy, sell, hold or trade, any security or other nancial instrument. THE IMPORTANT DISCLOSURES FOUND AT THE END OF THIS REPORT (WHICH INCLUDE
DEFINITIONS OF CERTAIN TERMS USED IN THIS REPORT) ARE AN INTEGRAL PART OF THIS REPORT AND MUST BE READ IN CONJUNCTION WITH YOUR REVIEW OF THIS REPORT. For further information regarding your use of this
report, please go to: [Link]

Dec. 17, 2025 Built with Page 4 of 19

EUR Model - Moderate (USD Denominated)
Performance Disclosure

THIS REPORT IS NOT AN INVESTMENT PERFORMANCE REPORT. DO NOT RELY ON THIS REPORT AS PORTRAYING, OR CONTAINING PERFORMANCE OF,
AN ACTUAL ACCOUNT. THIS REPORT SHOWS HYPOTHETICAL OR SIMULATED RETURNS OF PORTFOLIO(S) AND IS FOR ILLUSTRATIVE PURPOSES ONLY.
This report is not intended to and does not predict or show the actual investment performance of any account. A portfolio represents an investment in a
hypothetical weighted blend of securities which, together with other inputs, were selected by you and/or your Adviser and, accordingly, a portfolio should
be used for illustrative purposes only.

Hypothetical Performance Returns: Types and Considerations:

This report contains the investment performance of hypothetical portfolios, which are weighted blends of securities, selected by you and/or your financial
professional. Weights represent the values used at rebalance periods and not necessarily the implied weights at the time the report was generated.
Portfolio holdings are weighted by the percentage that was set when the portfolio was created, not using whole share numbers.

Hypothetical portfolio performance is investment performance returns not actually achieved by any portfolio of your financial professional. It is not
intended to predict or reflect the actual investment performance of any account. The table below outlines the settings applied to the hypothetical portfolios
presented in this report.

Portfolios in this report may be static or dynamic. A static model portfolio represents a fixed set of holdings and weights as of its creation date and does
not update if the model provider makes changes. Its performance therefore reflects only that original set of holdings. A dynamic model portfolio, by
contrast, updates as the model provider makes changes, so performance reflects these evolving allocations and may differ from earlier versions of the
model. The ‘Type’ column in the table shows whether each portfolio is static or dynamic.

Portfolio performance depends on selected settings. The Start setting determines when portfolio performance calculations begin:

Earliest: Returns begin at the inception of the earliest available holding - additional holdings are incorporated into the calculation as their histories
become available.
First Common: Returns begin once all holdings share overlapping history.
Custom Date: Returns begin on a user-selected start date.

The As of setting determines which allocation snapshot is applied throughout the historical performance calculation:

Initial: Uses the portfolio’s original allocations from inception.

Custom: Uses allocations from a user-selected date.
Latest Rebalance: Uses allocations as of the most recent rebalance date.
Last Close: Uses allocations as of the most recent market close.

Together, these settings affect both the length of the performance record and whether early periods reflect the portfolio’s full intended allocation or only
those holdings with available data.

Performance Calculation Settings Data as of: September 30, 2025

Rebalance
Name Start Date Type Frequency Start As Of
EUR Model - Moderate (USD Denominated) May. 09, 1979 Static Quarterly Earliest Last Close
50/50 - MSCI ACWI / Bloomberg Global Agg Dec. 30, 1987 Static Quarterly Earliest Initial

2025 YCharts, Inc. All Rights Reserved. YCharts, Inc. ('YCharts') is not registered with the U.S. Securities and Exchange Commission (or with the securities regulatory authority or body of any state or any other jurisdiction) as an
investment adviser, broker-dealer or in any other capacity, and does not purport to provide investment advice or make investment recommendations. This report has been generated using data manually input by the creator of this
report combined with data and calculations from [Link] and is intended solely to assist you or your investment or other adviser(s) in conducting investment research. You should not construe this report as an offer to buy or
sell, as a solicitation of an offer to buy or sell, or as a recommendation to buy, sell, hold or trade, any security or other nancial instrument. THE IMPORTANT DISCLOSURES FOUND AT THE END OF THIS REPORT (WHICH INCLUDE
DEFINITIONS OF CERTAIN TERMS USED IN THIS REPORT) ARE AN INTEGRAL PART OF THIS REPORT AND MUST BE READ IN CONJUNCTION WITH YOUR REVIEW OF THIS REPORT. For further information regarding your use of this
report, please go to: [Link]

Dec. 17, 2025 Built with Page 5 of 19

EUR Model - Moderate (USD Denominated)
Fee Assumptions Data as of: September 30, 2025

Advisory Advisory
Fee Fee Max Fee Max Fee
Name (Annualized) Frequency (Annualized) Frequency
EUR Model - Moderate (USD Denominated) 0.50% Annually -- --
50/50 - MSCI ACWI / Bloomberg Global Agg -- -- -- --

YCharts offers three categories of hypothetical portfolio performance metrics:

Standard Performance Metrics

Standard performance metrics contain no specific reference to fees in their labels. They may be either net or gross of advisory fees, depending on whether
an advisory fee was applied to the portfolio. If an advisory fee is displayed in the table above, standard performance metrics for that hypothetical portfolio
are shown net of that advisory fee.

Adjusting portfolio performance for a proposed advisory fee is intended to illustrate the impact of an advisory management fee on the returns of an
investment portfolio over the time periods shown. For example, for a portfolio with an annual 1.5% advisory fee deducted quarterly, the fee would reduce
the portfolio’s performance by 0.375% on 3/31, 6/30, 9/30, and 12/31. It is important to note that while an advisory fee may have been reflected in the
performance of the hypothetical portfolio, the returns do not necessarily account for the deduction of all possible investment-related fees.

Gross of Advisory Fee

Labeled as “gross” or “GR”, these metrics illustrate hypothetical portfolio performance before deducting an advisory fee. Including these fees would reduce
the gross performance displayed.

Net of Max Advisory Fee

Labeled as “net of max fee” or “NMF,” these metrics reflect portfolio performance after deducting the maximum advisory fee that your financial
professional could charge. Adjusting returns for a maximum advisory fee is intended to illustrate the impact of charging the maximum advisory fee on the
returns of an investment portfolio over the time periods shown. For example, for a portfolio with a maximum annual fee of 3.0% deducted quarterly, the
max fee would reduce the portfolio’s performance by 0.75% on 3/31, 6/30, 9/30, and 12/31. It is important to note that while an advisory fee may have been
reflected in the performance of the hypothetical portfolio, the returns do not necessarily account for the deduction of all possible investment-related fees.

It is important to remember that additional fees, such as deferred loads, redemption fees, wrap fees, or other account charges, may further reduce
investment returns. All portfolio returns are hypothetical and unaudited. Hypothetical portfolio performance is not intended to represent the actual
performance of any account and should be used for illustrative purposes only. This report is not performance reporting and does not portray the
performance of actual trading and investment activities.

Criteria and Assumptions Used in Portfolio Performance

All portfolios represent hypothetical blended investments of weighted securities as designated by the creator of this report based on the expected financial
situation of the intended audience and should be used for illustrative purposes only and should not be considered performance reports. They are
calculated by taking a weighted average of the target weights and the securities total return, assuming all dividends reinvested, since the latest rebalance
date. These portfolios are assumed to rebalance to the exact designated weights at each calendar quarter or month end – whichever is chosen when
setting up the portfolio. No transaction costs or taxes are included. Portfolio holdings are weighted by percentage, not whole share numbers.

2025 YCharts, Inc. All Rights Reserved. YCharts, Inc. ('YCharts') is not registered with the U.S. Securities and Exchange Commission (or with the securities regulatory authority or body of any state or any other jurisdiction) as an
investment adviser, broker-dealer or in any other capacity, and does not purport to provide investment advice or make investment recommendations. This report has been generated using data manually input by the creator of this
report combined with data and calculations from [Link] and is intended solely to assist you or your investment or other adviser(s) in conducting investment research. You should not construe this report as an offer to buy or
sell, as a solicitation of an offer to buy or sell, or as a recommendation to buy, sell, hold or trade, any security or other nancial instrument. THE IMPORTANT DISCLOSURES FOUND AT THE END OF THIS REPORT (WHICH INCLUDE
DEFINITIONS OF CERTAIN TERMS USED IN THIS REPORT) ARE AN INTEGRAL PART OF THIS REPORT AND MUST BE READ IN CONJUNCTION WITH YOUR REVIEW OF THIS REPORT. For further information regarding your use of this
report, please go to: [Link]

Dec. 17, 2025 Built with Page 6 of 19

EUR Model - Moderate (USD Denominated)
Risks and Limitations of Hypothetical Performance

ALL PORTFOLIO RETURNS ARE HYPOTHETICAL OR SIMULATED AND SHOULD NOT BE CONSIDERED PERFORMANCE REPORTING. No representation is
made that your investments will achieve results similar to those shown, and actual performance results may differ materially from those shown. Returns
portrayed in this report do not reflect actual trading and investment activities, but are hypothetical or simulated results of a hypothetical portfolio over the
time period indicated and do not reflect the performance of actual accounts managed by your Adviser or any other person. The mutual funds and other
components of the hypothetical portfolio(s) were selected with the full benefit of hindsight, after their performance during the time period was known. In
general, hypothetical returns generally exceed the results of client portfolios actually managed by advisers due to several factors, including the fact that
actual portfolio allocations differed from the allocations represented by the market indices used to create the hypothetical portfolios over the time periods
shown, new research was applied at different times to the relevant indices, and index performance does not reflect the deduction of any fees and
expenses. Results also assume that asset allocations would not have changed over time and in response to market conditions, which is likely to have
occurred if an actual account had been managed during the time period shown.

2025 YCharts, Inc. All Rights Reserved. YCharts, Inc. ('YCharts') is not registered with the U.S. Securities and Exchange Commission (or with the securities regulatory authority or body of any state or any other jurisdiction) as an
investment adviser, broker-dealer or in any other capacity, and does not purport to provide investment advice or make investment recommendations. This report has been generated using data manually input by the creator of this
report combined with data and calculations from [Link] and is intended solely to assist you or your investment or other adviser(s) in conducting investment research. You should not construe this report as an offer to buy or
sell, as a solicitation of an offer to buy or sell, or as a recommendation to buy, sell, hold or trade, any security or other nancial instrument. THE IMPORTANT DISCLOSURES FOUND AT THE END OF THIS REPORT (WHICH INCLUDE
DEFINITIONS OF CERTAIN TERMS USED IN THIS REPORT) ARE AN INTEGRAL PART OF THIS REPORT AND MUST BE READ IN CONJUNCTION WITH YOUR REVIEW OF THIS REPORT. For further information regarding your use of this
report, please go to: [Link]

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Security Type Disclosures

Fund Type Comparisons: Publicly offered funds, including closed-end funds, exchange-traded funds (ETFs), mutual funds, money market funds, and unit
investment trusts (UITs), have many similarities, but also many important differences. In general, publicly offered funds are investment companies
registered with and regulated by the Securities and Exchange Commission under the Investment Company Act of 1940, as amended. Funds pool money
from their investors and manage it according to an investment strategy or objective which can vary greatly from fund to fund. Funds have the ability to offer
diversification and professional management, but also involve risk, including the loss of principal.

Exchange-Traded Funds (ETFs): Exchange-traded funds (ETFs) are the most common type of exchange-traded product. Like mutual funds, they offer
investors an interest in a professionally managed, diversified investment portfolio. Unlike mutual funds, ETF shares trade like stocks and can be bought or
sold throughout the trading day at fluctuating prices. If an ETF’s shares trade at a price above their NAV, they are said to be trading at a premium.
Conversely, if they are trading at a price below their NAV, they are said to be trading at a discount. Typically, ETFs will track a particular index (such as the
S&P 500), sector, commodity, or other asset, but they can be structured to track anything from the price of an individual commodity to a specific
investment strategy. The expense ratio of an ETF is an annual fee charged to a shareholder. It includes operating expenses and management fees but does
not take into account any brokerage costs. ETFs do not have 12b1 fees or sales loads.

Money Market Funds: Money-market funds are mutual funds that invest in high-quality, short-term debt instruments, cash, and cash equivalents. All the
features of a standard mutual fund apply to a money market fund, with one key difference. A money market fund generally aims to maintain a net asset
value (NAV) of $1 per share. Any excess earnings that get generated through interest on the portfolio holdings are distributed to the investors in the form
of dividend payments. The expense ratio for a money market fund is an annual fee charged to a shareholder. It includes operating expenses and
management fees but does not take into account any brokerage costs.

An investment in a money market fund is neither insured nor guaranteed by the Federal Deposit Insurance Corporation (FDIC), National Credit Union
Administration (NCUA), or any other governmental agency. Although a money-market fund seeks to preserve the value of its investment at $1 per share, it
is possible to lose money. Non-bank deposit investments are not FDIC- or NCUA-insured, are not guaranteed by the bank/financial institution, and are
subject to risk, including loss of principal invested.

Investment Risks

Investments in securities involve investment risks, including possible loss of principal and fluctuation in value.

The investment return and principal value of securities and other financial instruments will fluctuate so that an investor's investments, when sold or
redeemed, may be worth more or less than the original cost. Investment results are not guaranteed. No investment strategy (including asset allocation and
diversification strategies) can guarantee a profit or protect against a loss of principal.

International/Emerging Market Equities: Investing in securities from global and emerging markets carries heightened risks. These encompass currency
fluctuations, political instability, and the challenges tied to diverse accounting standards. Emerging markets can exacerbate these risks.

Sector Strategies: Portfolios concentrating solely on one industry or sector entail added risks. The lack of diversity in industries exposes investors to
amplified industry-specific vulnerabilities.

Non-Diversified Strategies: Portfolios heavily invested in a single issuer come with extra risks, including heightened share price oscillations due to the
concentrated nature of investments.

2025 YCharts, Inc. All Rights Reserved. YCharts, Inc. ('YCharts') is not registered with the U.S. Securities and Exchange Commission (or with the securities regulatory authority or body of any state or any other jurisdiction) as an
investment adviser, broker-dealer or in any other capacity, and does not purport to provide investment advice or make investment recommendations. This report has been generated using data manually input by the creator of this
report combined with data and calculations from [Link] and is intended solely to assist you or your investment or other adviser(s) in conducting investment research. You should not construe this report as an offer to buy or
sell, as a solicitation of an offer to buy or sell, or as a recommendation to buy, sell, hold or trade, any security or other nancial instrument. THE IMPORTANT DISCLOSURES FOUND AT THE END OF THIS REPORT (WHICH INCLUDE
DEFINITIONS OF CERTAIN TERMS USED IN THIS REPORT) ARE AN INTEGRAL PART OF THIS REPORT AND MUST BE READ IN CONJUNCTION WITH YOUR REVIEW OF THIS REPORT. For further information regarding your use of this
report, please go to: [Link]

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EUR Model - Moderate (USD Denominated)
Investment Risks

Small-Cap Equities: Investing in small-company stocks introduces extra risks due to their greater likelihood of failure and relative lack of establishment
compared to larger, established companies. Such stocks have historically displayed more pronounced market volatility.

Mid-Cap Equities: Portfolios involving companies with market capitalization below $10 billion come with additional risks. Securities from these companies
can be less stable and less easily tradable than those of larger corporations.

High-Yield Bonds: Investing in lower-rated debt securities brings additional risks because of the lower credit quality of these securities. Be prepared for
heightened volatility and an increased risk of default.

Tax-Free Municipal Bonds: Income from tax-free municipal bond funds might still be subject to state, local, and Alternative Minimum Taxation.

Bonds: Bonds are susceptible to interest rate fluctuations. Rising bond interest rates lead to declines in the value of existing bonds in a portfolio. Bond
portfolios can undergo value shifts due to general interest rate changes.

Hedge Funds: Hedge fund investing comes with specialized risks dependent on the strategies undertaken by the fund manager. These may include
distressed or event-driven approaches, long/short strategies, arbitrage, international exposure, and the use of leverage, options, and derivatives. Hedge
funds can involve substantial risk and are suitable only for financially capable investors willing to bear potential losses.

Bank Loan/Senior Debt: Bank loans and senior debt share the risks associated with fixed income, such as interest rate and default risks. Often falling
below investment-grade, these securities hold a high default risk. They can also be less tradable. Funds investing in these assets are often highly
leveraged, heightening the risk of return volatility.

Exchange Traded Notes (ETNs): ETNs are unsecured debt obligations, and their repayment hinges on the issuer's ability to fulfill obligations. ETNs typically
do not provide interest payments.

Leveraged ETFs: Leveraged investments aim to achieve multiples of an index's return but can lead to returns greater or less than the index's performance,
compounded over a specific period. Leverage introduces amplified risk.

Short Positions: Holding short positions brings theoretically unlimited losses if the position moves unfavorably. Brokers might demand additional
collateral, and managers might need to close out short positions at unfavorable times to limit losses.

Long-Short: Long-short funds, utilizing strategies like leverage, short selling, and derivatives, can carry higher risk, volatility, and expenses compared to
traditional investment-focused funds.

Liquidity Risk: Closed-end fund and ETF trading can halt due to market conditions, impacting an investor's ability to sell.

Market Price Risk: The market price of ETFs and closed-end funds, traded on the secondary market, is influenced by supply and demand, independent of
NAV. This leads to trading at a premium or discount, affecting investor value.

Market Risk: Fluctuations in ETFs' market prices stem from factors like specific securities or general investor sentiment. Be mindful of potential market
fluctuations and their impact.

Target-Date Funds: These funds invest in other mutual funds, designed for investors planning to retire around a target date. The fund's strategy becomes
more conservative over time. Principal value isn't guaranteed, even at the target date.

Money Market Funds: An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC), the
National Credit Union Association (NCUA), or any other governmental agency; although money market funds seeks to preserve the value of the investment
at $1 per share, it is possible to lose money. Non-bank deposit investments are not FDIC- or NCUA-insured, are not guaranteed by the bank/financial
institution, and are subject to risk, including loss of principal invested.

2025 YCharts, Inc. All Rights Reserved. YCharts, Inc. ('YCharts') is not registered with the U.S. Securities and Exchange Commission (or with the securities regulatory authority or body of any state or any other jurisdiction) as an
investment adviser, broker-dealer or in any other capacity, and does not purport to provide investment advice or make investment recommendations. This report has been generated using data manually input by the creator of this
report combined with data and calculations from [Link] and is intended solely to assist you or your investment or other adviser(s) in conducting investment research. You should not construe this report as an offer to buy or
sell, as a solicitation of an offer to buy or sell, or as a recommendation to buy, sell, hold or trade, any security or other nancial instrument. THE IMPORTANT DISCLOSURES FOUND AT THE END OF THIS REPORT (WHICH INCLUDE
DEFINITIONS OF CERTAIN TERMS USED IN THIS REPORT) ARE AN INTEGRAL PART OF THIS REPORT AND MUST BE READ IN CONJUNCTION WITH YOUR REVIEW OF THIS REPORT. For further information regarding your use of this
report, please go to: [Link]

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Definitions

Alpha: Alpha measures the excess return that a security provides. Alpha can be measured by taking Risk Adjusted Security Return - Beta*(Risk Adjusted
Market Return). This formula will return the outperformance that the security provides. Alpha is an important metric for active investing, where investors
look for outperforming a particular benchmark.

Annualized Price Return: Annualized Price Returns measure the compound annual growth rate (CAGR) of an investment's market price over a specified
period. This metric reflects only the price appreciation or depreciation of the investment, excluding any income from dividends or interest.

Annualized Total NAV Return: Annualized Total NAV Returns represent the compound annual growth rate based on changes in an investment's Net Asset
Value (NAV), assuming all distributions are reinvested. It excludes market price fluctuations.

Annualized Total Returns: Annualized Total Returns represent the compound annual growth rate (CAGR) of an investment over a specified period,
assuming all income—such as dividends, interest, and capital gains distributions—is reinvested. This metric captures the full effect of both price
appreciation and income generated by the investment, offering a comprehensive measure of performance.

Asset Allocation: Asset allocation reflects the asset class weightings of the fund or portfolio. The Other category includes security types that are not
neatly classified in the other asset classes or cannot be classified by YCharts as a result of missing data. Allocations may not sum to 100% due to
rounding.

Average Coupon: Average Coupon is the average rate of the coupons of the bonds in a fund, weighted based each bond holding's size relative to the
portfolio. Average coupon indicates whether a fund is carrying a greater amount of high or low coupon bonds. While higher coupon bonds offer more
return, they may carry additional risk.

Average Credit Quality Score: An average of the credit rating of the bonds held by a fund. The average is calculated by assigning a value to each
underlying bond in the fund based on the relative default rate, which is determined by the credit rating of the bond. It assumes that the odds of default
increase as the credit rating decreases. The average default rate is then used to determine the average credit quality of the fund.

Beta: Beta is a risk metric that measures the risk associated with a security in comparison to the risk associated with the market overall. A beta of 1 would
signify that the beta is neutral with the market. A common use of beta is within the Capital Asset Pricing Model (CAPM), to find a security's expected
return.

Bond Maturity Exposure: Shows how a portfolio’s fixed income holdings are distributed across different maturity periods: short-term, intermediate-term,
and long-term.

Bond Sector Exposure: Shows how a portfolio’s fixed income holdings are distributed across six sectors - Government, Municipal, Corporate, Securitized,
Cash & Equivalents, and Derivatives.

2025 YCharts, Inc. All Rights Reserved. YCharts, Inc. ('YCharts') is not registered with the U.S. Securities and Exchange Commission (or with the securities regulatory authority or body of any state or any other jurisdiction) as an
investment adviser, broker-dealer or in any other capacity, and does not purport to provide investment advice or make investment recommendations. This report has been generated using data manually input by the creator of this
report combined with data and calculations from [Link] and is intended solely to assist you or your investment or other adviser(s) in conducting investment research. You should not construe this report as an offer to buy or
sell, as a solicitation of an offer to buy or sell, or as a recommendation to buy, sell, hold or trade, any security or other nancial instrument. THE IMPORTANT DISCLOSURES FOUND AT THE END OF THIS REPORT (WHICH INCLUDE
DEFINITIONS OF CERTAIN TERMS USED IN THIS REPORT) ARE AN INTEGRAL PART OF THIS REPORT AND MUST BE READ IN CONJUNCTION WITH YOUR REVIEW OF THIS REPORT. For further information regarding your use of this
report, please go to: [Link]

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EUR Model - Moderate (USD Denominated)
Definitions

Credit Quality Exposure: Credit quality exposure shows how a fund or portfolio’s bonds are distributed across credit rating categories. Ratings, provided by
independent agencies, indicate relative risk—higher ratings (AAA–AA) suggest lower risk, while lower ratings (BB and below) imply higher risk and potential
financial distress. Percentages are calculated by weighting each bond’s rating by its market value.

Distribution Yield: Distribution yield is a financial metric that measures the income from distributions relative to the value of an investment. It shows how
much a fund or portfolio has paid out in distributions each year relative to its price, NAV (Net Asset Value) or level (for portfolios). Distribution yield is
available for the following security types on YCharts: mutual funds, ETFs, closed end funds, and portfolios.

Dividend Yield: Dividend yield is a financial metric that measures the income from dividends relative to the value of an investment. It shows how much a
company, fund, or portfolio has paid out in dividends each year relative to its price, NAV (Net Asset Value) or level (for portfolios). Dividend yield is
available for the following security types on YCharts: stocks, mutual funds, ETFs, Closed End Funds (CEFs), and portfolios.

Effective Duration: Effective duration is a measure of risk for funds that hold bonds with embedded options. It estimates the amount the NAV of a fund will
fall when interest rates rise by 1% or will increase when interest rates fall by 1%. This acts as a measure of the interest rate sensitivity of a fund, and takes
into account put, call, and prepayment options.

Historical Sharpe Ratio: The Sharpe Ratio measures the risk-adjusted return of a security. This is a useful metric for analyzing the return you are receiving
on a security in comparison to the amount of volatility expected. The historical sharpe ratio uses historical returns to calculate the return and standard
deviation.

Historical Sortino Ratio: Measures risk-adjusted return like the Sharpe Ratio but focuses only on downside volatility, isolating harmful fluctuations while
ignoring upside movements.

Load-adjusted Returns: Load-adjusted returns are a holding period return calculation that takes into account any sales charges or loads associated with
purchasing or selling mutual fund shares. They assume that an investor purchased shares at the beginning of a period, paid all applicable sales charges
and completely liquidated their investment at the end of the period, paying all applicable back-end charges and redemption fees.

Market Cap Exposure: Market capitalization exposure shows how a portfolio’s stock holdings are distributed across companies of different sizes, based
on their market capitalization.

Max Drawdown: Max drawdown is an indicator of the risk of a portfolio chosen based on a certain strategy. It measures the largest single drop from peak
to bottom in the value of a portfolio before a new peak is achieved.

Maximum Deferred Load: A deferred load is a fee that is charged when an investor sells certain classes of fund shares before a specified date. The
maximum deferred load refers to the maximum amount a fund may charge an investor when they redeem their investment.

Maximum Front Load: A front-end load is a sales charge or commission that an investor pays up front, at the time they purchase the fund. The maximum
front load refers to the maximum amount a fund may charge an investor when they purchase a fund.

2025 YCharts, Inc. All Rights Reserved. YCharts, Inc. ('YCharts') is not registered with the U.S. Securities and Exchange Commission (or with the securities regulatory authority or body of any state or any other jurisdiction) as an
investment adviser, broker-dealer or in any other capacity, and does not purport to provide investment advice or make investment recommendations. This report has been generated using data manually input by the creator of this
report combined with data and calculations from [Link] and is intended solely to assist you or your investment or other adviser(s) in conducting investment research. You should not construe this report as an offer to buy or
sell, as a solicitation of an offer to buy or sell, or as a recommendation to buy, sell, hold or trade, any security or other nancial instrument. THE IMPORTANT DISCLOSURES FOUND AT THE END OF THIS REPORT (WHICH INCLUDE
DEFINITIONS OF CERTAIN TERMS USED IN THIS REPORT) ARE AN INTEGRAL PART OF THIS REPORT AND MUST BE READ IN CONJUNCTION WITH YOUR REVIEW OF THIS REPORT. For further information regarding your use of this
report, please go to: [Link]

Dec. 17, 2025 Built with Page 11 of 19

EUR Model - Moderate (USD Denominated)
Definitions

Maximum Redemption Fee: The maximum redemption fee is the maximum amount a fund may charge if an investor redeems their investment within a
specific time period after purchasing a fund, for example, 30, 180, or 365 days. The Securities and Exchange Commission limits redemption fees to a
maximum of 2% of the sales amount.

Net Expense Ratio: The annual percentage of a fund’s assets deducted to cover operating costs such as management, administrative, and 12b-1 fees, net
of any waivers or rebates. It excludes transaction, brokerage, and sales charges.

Prospectus Gross Expense Ratio: Sourced from a fund’s most recent prospectus, the Prospectus Gross Expense Ratio represents the cost of owning a
fund before any adjustments or waivers are applied.

Prospectus Net Expense Ratio: Sourced from a fund’s most recent prospectus, the Prospectus Net Expense Ratio represents the cost of owning a fund
after any adjustments or waivers are applied.

Region Exposure: Reflects the exposure of a fund or portfolio's investments to the indicated geographic area(s).

Regional Exposure: This data set provides a detailed breakdown of an investment's country exposure. Each country's exposure is presented as a
percentage of non-cash equity assets held by the fund.

SEC Yield: SEC Yield shows a fund’s income over the past 30 days, based on dividends and interest earned minus expenses, divided by the fund’s share
price. It is annualized to estimate potential income over 12 months. Unsubsidized SEC Yield excludes fee waivers, and some money market funds report a
7-day SEC Yield instead.

Standard Deviation: Standard deviation measures how much an investment's return deviates from its average over a specific period. Higher standard
deviation indicates more volatility, while lower standard deviation signifies steadier returns. YCharts makes five types of standard deviation metrics over
different time periods available: daily, monthly, quarterly, annualized monthly, and annualized quarterly.

Stock Sector Exposure: Shows the breakdown of a fund or portfolio's long equity assets across eleven major industry groups and how they roll up to three
broad sectors - cyclical, sensitive and defensive.

Stock Style Exposure: Shows how a portfolio’s holdings are spread across company sizes (large-, mid-, and small-cap) and investment styles (value, blend,
or growth). Company size is based on market cap percentiles within the Russell 3000, and style is determined by comparing six valuation and growth
metrics to size-specific benchmarks (S&P 500, 400, and 600).

Total Return: The Total return is the change in price over a specific period of time that includes dividends and distributions paid.

Total Return Level: The total return level allows investors to view the performance of a security inclusive of both price appreciation and
dividends/distributions. Total return level is seen as the most accurate calculation that produces returns consistent with most other sources.

2025 YCharts, Inc. All Rights Reserved. YCharts, Inc. ('YCharts') is not registered with the U.S. Securities and Exchange Commission (or with the securities regulatory authority or body of any state or any other jurisdiction) as an
investment adviser, broker-dealer or in any other capacity, and does not purport to provide investment advice or make investment recommendations. This report has been generated using data manually input by the creator of this
report combined with data and calculations from [Link] and is intended solely to assist you or your investment or other adviser(s) in conducting investment research. You should not construe this report as an offer to buy or
sell, as a solicitation of an offer to buy or sell, or as a recommendation to buy, sell, hold or trade, any security or other nancial instrument. THE IMPORTANT DISCLOSURES FOUND AT THE END OF THIS REPORT (WHICH INCLUDE
DEFINITIONS OF CERTAIN TERMS USED IN THIS REPORT) ARE AN INTEGRAL PART OF THIS REPORT AND MUST BE READ IN CONJUNCTION WITH YOUR REVIEW OF THIS REPORT. For further information regarding your use of this
report, please go to: [Link]

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EUR Model - Moderate (USD Denominated)
Definitions

Turnover Ratio: Represents the share of a fund or portfolio’s holdings sold over the previous four quarters. Turnover can exceed 100% if more securities
are sold than held, and higher turnover often leads to greater costs and tax implications.

Value At Risk (VaR): The VaR calculates the potential loss of an investment with a given time frame and confidence level. For example, if a security has a
5% Daily VaR (All) of 4%: There is 95% confidence that the security will not have a larger loss than 4% in one day. Since this metric says (All) we are
calculating this using all available price history for the security. In another example, if a security has a Monthly VaR 1% (3Y Lookback) of 15%: There is 99%
confidence that the security will not have a larger loss than 15% in one month. This is calculated using the past 3 years of historical prices. Keep in mind
that VaR does not give you any information about the magnitude of the potential loss in excess of the VaR. For a calculation that give you this information
you can view Expected Shortfall.

Weighted Average PE Ratio: A weighted average of each underlying holding’s share price relative to the earnings per share. Stocks that have Earnings per
Share < 0 are excluded in this calculation.

Weighted Average Price to Sales Ratio: The weighted average price-to-sales ratio of a portfolio is a financial metric that gauges the overall valuation of the
assets within a portfolio in relation to their combined sales revenue. This calculation considers the market value of each asset, assigning more influence to
larger holdings, and computes the average valuation relative to the total sales generated by all assets

Weighted Median Return on Equity: Return on Equity (ROE) is an indication of how well a company is using its shareholders' money to generate profits. It is
measured as Net Income / Average TTM Shareholder’s Equity. Weighted Median ROE is calculated by taking into account both the individual ROE of each
investment and its weight in the overall portfolio. It is the middle value of the ROEs of each individual portfolio asset when arranged in ascending order
after being multiplied by their respective weights.

Yield to Maturity: Yield to maturity (YTM) is the internal rate of return earned when buying the bond today at the market price, assuming the buyer holds
the bond to maturity, and all the coupon and principal payments are made. It is expressed as an annualized figure. YTM may fluctuate, while a bond's
coupon rate or the interest paid annually on the bond's face value remains fixed. As interest rates rise, YTM increases; as interest rates fall, YTM
decreases.

2025 YCharts, Inc. All Rights Reserved. YCharts, Inc. ('YCharts') is not registered with the U.S. Securities and Exchange Commission (or with the securities regulatory authority or body of any state or any other jurisdiction) as an
investment adviser, broker-dealer or in any other capacity, and does not purport to provide investment advice or make investment recommendations. This report has been generated using data manually input by the creator of this
report combined with data and calculations from [Link] and is intended solely to assist you or your investment or other adviser(s) in conducting investment research. You should not construe this report as an offer to buy or
sell, as a solicitation of an offer to buy or sell, or as a recommendation to buy, sell, hold or trade, any security or other nancial instrument. THE IMPORTANT DISCLOSURES FOUND AT THE END OF THIS REPORT (WHICH INCLUDE
DEFINITIONS OF CERTAIN TERMS USED IN THIS REPORT) ARE AN INTEGRAL PART OF THIS REPORT AND MUST BE READ IN CONJUNCTION WITH YOUR REVIEW OF THIS REPORT. For further information regarding your use of this
report, please go to: [Link]

Dec. 17, 2025 Built with Page 13 of 19

EUR Model - Moderate (USD Denominated)
Disclosures

IMPORTANT DISCLOSURES
This report does not reflect the performance of any account actually managed by your Adviser. This is supplemental material, and when applicable, should
be accompanied by a prospectus or equivalent document.
The data contained in or used in generating this report has not been audited or verified by your Adviser or any other party, and any use of this report should
be made with this understanding. This report is not an official account statement or other official document of your Adviser or any other party.
This report does not constitute legal or tax advice. Please consult with your legal and tax advisors for such advice.
CRITERIA AND ASSUMPTIONS USED IN PORTFOLIO PERFORMANCE
All portfolios represent hypothetical blended investments of weighted securities as designated by the creator of this report based on the expected
financial situation of the intended audience and should be used for illustrative purposes only and should not be considered performance reports. They are
calculated by taking a weighted average of the target weights and the securities total return, assuming all dividends reinvested, since the latest rebalance
date. These portfolios are assumed to rebalance to the exact designated weights at each calendar quarter or month end – whichever is chosen when
setting up the portfolio. No transaction costs or taxes are included. Portfolio holdings are weighted by percentage, not whole share numbers.
RISKS AND LIMITATIONS OF HYPOTHETICAL PERFORMANCE
ACCORDINGLY, ALL PORTFOLIO RETURNS ARE HYPOTHETICAL OR SIMULATED AND SHOULD NOT BE CONSIDERED PERFORMANCE REPORTING. No
representation is made that your investments will achieve results similar to those shown, and actual performance results may differ materially from those
shown. Returns portrayed in this report do not reflect actual trading and investment activities, but are hypothetical or simulated results of a hypothetical
portfolio over the time period indicated and do not reflect the performance of actual accounts managed by your Adviser or any other person. The mutual
funds and other components of the hypothetical portfolio(s) were selected with the full benefit of hindsight, after their performance during the time period
was known. In general, hypothetical returns generally exceed the results of client portfolios actually managed by advisers due to several factors, including
the fact that actual portfolio allocations differed from the allocations represented by the market indices used to create the hypothetical portfolios over the
time periods shown, new research was applied at different times to the relevant indices, and index performance does not reflect the deduction of any fees
and expenses. Results also assume that asset allocations would not have changed over time and in response to market conditions, which is likely to have
occurred if an actual account had been managed during the time period shown.
INVESTMENTS IN SECURITIES INVOLVE INVESTMENT RISKS, INCLUDING POSSIBLE LOSS OF PRINCIPAL AND FLUCTUATION IN VALUE. See
“INVESTMENT RISKS” below for a brief summary of certain risks. The investment return and principal value of securities and other financial instruments
will fluctuate so that an investor's investments, when sold or redeemed, may be worth more or less than the original cost. Investment results are not
guaranteed. No investment strategy (including asset allocation and diversification strategies) can guarantee a profit or protect against a loss of principal.
THIS REPORT IS NOT AN INVESTMENT PERFORMANCE REPORT. DO NOT RELY ON THIS REPORT AS PORTRAYING, OR CONTAINING PERFORMANCE
OF, AN ACTUAL ACCOUNT. THIS REPORT SHOWS HYPOTHETICAL OR SIMULATED RETURNS OF portfolio(S) AND IS FOR ILLUSTRATIVE PURPOSES
ONLY. The SEC has not approved the returns being displayed within the report. This report is not intended to and does not predict or show the actual
investment performance of any account. A portfolio represents an investment in a hypothetical weighted blend of securities which, together with other
inputs, were selected by you and/or your Adviser and, accordingly, a portfolio should be used for illustrative purposes only.
The performance of a portfolio is calculated by taking a weighted average of the stated target weights and the securities’ total return, assuming
reinvestment of all dividends and other distributions on the related ex-date, since the latest rebalance date. The portfolio(s) portrayed in this report are
assumed to rebalance to the exact designated weights on a monthly, quarterly or annual basis, whichever you and/or your Adviser selected in generating
this report. The performance illustrated in this report may assume that rebalancing occurred in a manner different from how your Adviser rebalances a
client portfolio. Your Adviser may recommend rebalancing when an asset class varies from its targeted allocation. In general, your Adviser reinvests
dividends generated by investments. The way your Adviser invests dividends may be different than how the portfolio(s) invest dividends.
All stated target weights are based on allocation choices input by your and/or your Adviser. These weights represent the values used at rebalance periods.
All weightings ignore the concept of whole shares and instead use the exact percentage chosen when creating the portfolio(s).

2025 YCharts, Inc. All Rights Reserved. YCharts, Inc. ('YCharts') is not registered with the U.S. Securities and Exchange Commission (or with the securities regulatory authority or body of any state or any other jurisdiction) as an
investment adviser, broker-dealer or in any other capacity, and does not purport to provide investment advice or make investment recommendations. This report has been generated using data manually input by the creator of this
report combined with data and calculations from [Link] and is intended solely to assist you or your investment or other adviser(s) in conducting investment research. You should not construe this report as an offer to buy or
sell, as a solicitation of an offer to buy or sell, or as a recommendation to buy, sell, hold or trade, any security or other nancial instrument. THE IMPORTANT DISCLOSURES FOUND AT THE END OF THIS REPORT (WHICH INCLUDE
DEFINITIONS OF CERTAIN TERMS USED IN THIS REPORT) ARE AN INTEGRAL PART OF THIS REPORT AND MUST BE READ IN CONJUNCTION WITH YOUR REVIEW OF THIS REPORT. For further information regarding your use of this
report, please go to: [Link]

Dec. 17, 2025 Built with Page 14 of 19

EUR Model - Moderate (USD Denominated)
Disclosures (continued)

Unless otherwise noted, no transaction costs (e.g., commissions, sales loads), taxes, or advisory fees are deducted from the performance results
generated by the portfolios(s). Any expense ratio shown is inclusive of the underlying fees in the securities included in the portfolio(s) (as reported by
Morningstar Inc.), and as such should be considered for illustrative purposes only. As discussed above, such fees do not include transaction costs (e.g.,
commissions, sales loads), taxes, or advisory fees.
The stated yield for a hypothetical portfolio is based on the weighted average of trailing 12-month yields for the underlying securities. It is no indication or
guarantee of future yield.
PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. To the extent this report portrays historical performance of particular securities or other
financial instruments, past performance of such securities or other instruments is not indicative of future results. Further, when reviewing past
performance records of actual accounts, it is important to note that different accounts (even if they are managed pursuant to the same strategy), can have
varying results. The reasons for this include: 1) the period of time in which the accounts are active; 2) the timing of contributions and withdrawals; 3) the
account size; 4) the minimum investment requirements and/or withdrawal restrictions; 5) the rate of advisory, brokerage commissions and transaction
fees charged to an account; and 6) restrictions or limitations on whether the account can be rebalanced annually, quarterly or otherwise.
ALL RISK CALCULATIONS ARE FOR ILLUSTRATIVE PURPOSES ONLY. They are calculated at the portfolio level using a benchmark (discussed below)
selected by you and/or your Adviser. The benchmark is displayed for comparison purposes and is used to calculate portfolio level risk data when
necessary.
For a glossary of terms relating to risk calculations that may be used in this report, see “DEFINITIONS,” below.
DO NOT RELY UPON THIS REPORT FOR DETERMINING THE VALUE OF YOUR ASSETS. This report was generated based on information provided by you
and by various other sources. If your Adviser generated this report, you should consult with your Adviser to determine what sources of information were
used by it in connection with generating this report besides information that was provided by you. You should refer to official final account statements or
other final official documents you receive from your Adviser or your other financial services providers when determining the value of your assets.
INVESTMENT RISKS
International/Emerging Market Equities: Investing in international securities involves special additional risks. These risks include, but are not limited to,
currency risk, political risk, and risk associated with varying accounting standards. Investing in emerging markets may accentuate these risks. Sector
Strategies: Portfolios that invest exclusively in one sector or industry involve additional risks. The lack of industry diversification subjects the investor to
increased industry-specific risks.
Non-Diversified Strategies: Portfolios that invest a significant percentage of assets in a single issuer involve additional risks, including share price
fluctuations, because of the increased concentration of investments.
Small Cap Equities: Portfolios that invest in stocks of small companies involve additional risks. Smaller companies typically have a higher risk of failure,
and are not as well established as larger blue-chip companies. Historically, smaller-company stocks have experienced a greater degree of market volatility
than the overall market average.
Mid-Cap Equities: Portfolios that invest in companies with market capitalization below $10 billion involve additional risks. The securities of these
companies may be more volatile and less liquid than the securities of larger companies.
High-Yield Bonds: Portfolios that invest in lower-rated debt securities (commonly referred to as junk bonds) involve additional risks because of the lower
credit quality of the securities in the portfolio. The investor should be aware of the possible higher level of volatility, and increased risk of default.
Tax-Free Municipal Bonds: The investor should note that the income from tax-free municipal bond funds may be subject to state and local taxation and the
Alternative Minimum Tax.
Bonds: Bonds are subject to interest rate risk. As the prevailing level of bond interest rates rise, the value of bonds already held in a portfolio declines.
Portfolios that hold bonds are subject to declines and increases in value due to general changes in interest rates.

2025 YCharts, Inc. All Rights Reserved. YCharts, Inc. ('YCharts') is not registered with the U.S. Securities and Exchange Commission (or with the securities regulatory authority or body of any state or any other jurisdiction) as an
investment adviser, broker-dealer or in any other capacity, and does not purport to provide investment advice or make investment recommendations. This report has been generated using data manually input by the creator of this
report combined with data and calculations from [Link] and is intended solely to assist you or your investment or other adviser(s) in conducting investment research. You should not construe this report as an offer to buy or
sell, as a solicitation of an offer to buy or sell, or as a recommendation to buy, sell, hold or trade, any security or other nancial instrument. THE IMPORTANT DISCLOSURES FOUND AT THE END OF THIS REPORT (WHICH INCLUDE
DEFINITIONS OF CERTAIN TERMS USED IN THIS REPORT) ARE AN INTEGRAL PART OF THIS REPORT AND MUST BE READ IN CONJUNCTION WITH YOUR REVIEW OF THIS REPORT. For further information regarding your use of this
report, please go to: [Link]

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Hedge Funds: The investor should note that hedge fund investing involves specialized risks that are dependent upon the type of strategies undertaken by
the fund’s manager. This can include distressed or event-driven strategies, long/short strategies, using arbitrage (exploiting price inefficiencies),
international investing, and use of leverage, options and/or derivatives. Although the goal of hedge fund managers may be to reduce volatility and produce
positive absolute return under a variety of market conditions, hedge funds may involve a high degree of risk and are suitable only for investors of
substantial financial means who could bear the entire loss of their investment.
Bank Loan/Senior Debt: Bank loans and senior loans are impacted by the risks associated with fixed income in general, including interest rate risk and
default risk. They are often non-investment grade, therefore, the risk of default is high. These securities are also relatively illiquid. Managed products that
invest in bank loans/senior debt are often highly leveraged, producing a high risk of return volatility.
Exchange Traded Notes (ETNs): ETNs are unsecured debt obligations. Any repayment of note is subject to the issuer’s ability to repay its obligations.
ETNs do not typically pay interest.
Leveraged ETFs: Leveraged investments are designed to meet multiples of the return performance of the index they track and seek to meet their daily fund
objectives (or other time period stated within the prospectus objective). The leverage/gearing ratio is the amount of excess return that a leveraged
investment is designed to achieve in comparison to its index performance (i.e., 200%, 300%, or -300% or 2X, 3X, -2X, -3X). Compounding could affect the
performance of the fund to be either greater or less than the index performance multiplied by the multiple stated within the funds objective over a stated
time period.
Short Positions: When a short position moves in an unfavorable way, the losses are theoretically unlimited. The broker may demand more collateral and a
manager might have to close out a short position at an inopportune time to limit further losses.
Long-Short: Due to strategies used by long-short funds, which may include but are not limited to leverage, short selling, short-term trading, and investing in
derivatives, these funds may have greater risk, volatility, and expenses than those focusing on traditional investment strategies.
Liquidity Risk: Closed-end fund, ETF, and HOLDR trading may be halted due to market conditions, impacting an investor’s ability to sell a fund.
Market Price Risk: The market price of ETFs, HOLDRs, and closed-end funds traded on the secondary market is subject to the forces of supply and demand
and thus independent of the NAV. This can result in the market price trading at a premium or discount to the NAV, which will affect an investor’s value.
Market Risk: The market price of ETFs and HOLDRs can fluctuate because of several factors, such as security-specific factors or general investor
sentiment. Therefore, investors should be aware of the prospect of market fluctuations and the impact it may have on the market price.
Target-Date Funds: Target-date funds typically invest in other mutual funds and are designed for investors who are planning to retire during the target date
year. The fund’s target date is the approximation date when investors expect to begin withdrawing their money. A target-date fund’s investment
objective/strategy typically becomes more conservative over time, primarily by reducing its allocation to equity mutual funds and increasing its allocations
in fixed-income mutual funds. An investor’s principal value in a target-date fund is not guaranteed at any time, including the fund’s target date.
Money Market Funds: Investments in these funds are not guaranteed by the FDIC or any other government agency. You can lose money by investing in
these funds. The fund strives to preserve your investment, however, it can not guarantee to do so.
INDEXES AND BENCHMARK DISCLOSURES
Indices and benchmarks are unmanaged and cannot be invested in directly. Returns represent past performance, are not a guarantee of future
performance, and are not indicative of any specific investment. Index return information is provided by vendors and although deemed reliable, is not
guaranteed by YCharts, your Adviser or any other person. Benchmark returns may or may not be adjusted to reflect ongoing expenses such as sales
charges. An investment portfolio may differ significantly from the securities in the benchmark. Due to timing of information, benchmarks may be adjusted
after the publication of this report. Following is a brief description of the common market indexes and benchmarks.
Bloomberg Barclays Municipal Bond Index: Covers the USD-denominated long-term tax exempt bond market. The index has four main sectors: state and
local general obligation bonds, revenue bonds, insured bonds, and prefunded bonds.

2025 YCharts, Inc. All Rights Reserved. YCharts, Inc. ('YCharts') is not registered with the U.S. Securities and Exchange Commission (or with the securities regulatory authority or body of any state or any other jurisdiction) as an
investment adviser, broker-dealer or in any other capacity, and does not purport to provide investment advice or make investment recommendations. This report has been generated using data manually input by the creator of this
report combined with data and calculations from [Link] and is intended solely to assist you or your investment or other adviser(s) in conducting investment research. You should not construe this report as an offer to buy or
sell, as a solicitation of an offer to buy or sell, or as a recommendation to buy, sell, hold or trade, any security or other nancial instrument. THE IMPORTANT DISCLOSURES FOUND AT THE END OF THIS REPORT (WHICH INCLUDE
DEFINITIONS OF CERTAIN TERMS USED IN THIS REPORT) ARE AN INTEGRAL PART OF THIS REPORT AND MUST BE READ IN CONJUNCTION WITH YOUR REVIEW OF THIS REPORT. For further information regarding your use of this
report, please go to: [Link]

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Disclosures (continued)

Bloomberg Barclays U.S. Aggregate Index: Covers the USD-denominated, investment-grade, fixed-rate, taxable bond market of SEC-registered securities.
The index includes bonds from the Treasury, Government-Related, Corporate, MBS (agency fixed-rate and hybrid ARM pass-through securities), ABS, and
CMBS sectors.
Bloomberg Commodity Index: A liquid and diversified benchmark for commodities as an asset class. The index is composed of futures contracts on 19
physical commodities which include oil, metals and agricultural products such as corn or soybean. The Bloomberg Commodity Index family includes nine
sub-indexes that group commodities based on type, plus single-commodity indexes for each of the 19 individual commodities in the broad index, plus
Cocoa, Lead, Platinum and Tin.
Dow Jones U.S. Select REIT Index: Comprised of companies whose charters are the equity ownership and operation of commercial real estate and which
operate under the REIT Act of 1960. Each REIT in the REIT Index is weighted by its float-adjusted market capitalization. The total return version of the index
is calculated with gross dividends reinvested.
MSCI EAFE® Index-Net Total Return: Measures the equity market performance of developed markets, excluding the US & Canada. The index returns are
calculated with reinvestment of net dividends after the deduction of applicable non-resident withholding taxes. Prior to July 1, 2016, the returns of the
MSCI EAFE index were calculated with gross dividends, before application of local taxes, to approximate the maximum possible dividend reinvestment.
MSCI Emerging Markets® Index-Net Total Return: Measures the equity market performance of emerging markets. The index returns are calculated with
reinvestment of net dividends, after the deduction of applicable nonresident withholding taxes. Prior to July 1, 2016, the returns of the MSCI Emerging
Markets index were calculated with gross dividends, before application of local taxes, to approximate the maximum possible dividend reinvestment.
S&P 500® Index: Capitalization-weighted index of 500 stocks. The index is designed to measure performance of the broad domestic economy through
changes in the aggregate market value of 500 stocks representing all major industries. The total return version of the index is used, which reflects the
effects of dividend reinvestment.
S&P MidCap 400® Index: Covers 7% of the U.S. equity market and is comprised of companies with market capitalization in the range of US $1.4 billion to
US $5.9 billion. The total return version of the index is used, which reflects the effects of dividend reinvestment.
S&P SmallCap 600® Index: Covers approximately 3% of the domestic equities market covering companies with market capitalization in the range of US
$400 million to US $1.8 billion. The total return version of the index is used, which reflects the effects of dividend reinvestment.
DEFINITIONS
The following terms, if used in this Report, have the following meanings:
1. Alpha: Alpha measures the risk and market-adjusted returns for the portfolio. The metric is calculated on the specified lookback period using the
benchmark that is set for the portfolio.
Formula Alpha = Annualized security return - risk free rate - beta * (annualized benchmark return - risk free rate) * 100
Note: Risk free rate = average 1 month treasury rate throughout the lookback period.
2. Beta: Beta measures the movement of the portfolio in comparison to the benchmark based on the lookback period. It is a statistical measure that can
be used to measure the volatility of price movements.
Formula Beta = Covariance ( Portfolio Return , Benchmark Return) / Variance (Benchmark Return)
3. Standard Deviation: Standard deviation measures the range of return values that you can statistically expect from your portfolio compared to its mean
return. This measure is annualized for the specified lookback period.
Formula Standard Deviation = SQRT(Variance of Monthly Returns for Lookback Period)
4. Historical Sharpe: Sharpe measures the risk-adjusted return for the specified lookback period.
Formula Sharpe = (Average monthly return over lookback period) / (Historical standard deviation)
5. Historical Sortino: Sortino Ratio measures the downside risk-adjusted outperformance of the portfolio versus the benchmark.

2025 YCharts, Inc. All Rights Reserved. YCharts, Inc. ('YCharts') is not registered with the U.S. Securities and Exchange Commission (or with the securities regulatory authority or body of any state or any other jurisdiction) as an
investment adviser, broker-dealer or in any other capacity, and does not purport to provide investment advice or make investment recommendations. This report has been generated using data manually input by the creator of this
report combined with data and calculations from [Link] and is intended solely to assist you or your investment or other adviser(s) in conducting investment research. You should not construe this report as an offer to buy or
sell, as a solicitation of an offer to buy or sell, or as a recommendation to buy, sell, hold or trade, any security or other nancial instrument. THE IMPORTANT DISCLOSURES FOUND AT THE END OF THIS REPORT (WHICH INCLUDE
DEFINITIONS OF CERTAIN TERMS USED IN THIS REPORT) ARE AN INTEGRAL PART OF THIS REPORT AND MUST BE READ IN CONJUNCTION WITH YOUR REVIEW OF THIS REPORT. For further information regarding your use of this
report, please go to: [Link]

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EUR Model - Moderate (USD Denominated)
Disclosures (continued)

Formula Historical Sortino = (Average Monthly Returns - risk free rate) / downside deviation
6. Max Drawdown: Max drawdown is an indicator of the risk of a portfolio chosen based on a certain strategy. It measures the largest single drop from
peak to bottom in the value of a portfolio (before a new peak is achieved).
Formula: Max Drawdown = (Peak value before largest drop - Lowest value before new high established) / (Peak value before largest drop)
7. Monthly Value at Risk (VaR) 5%: The VaR calculates the potential loss of an investment with a given time frame and confidence level. This metric is a
statistical measure that gives an idea of the statistical chance of a drawdown occuring.
8. Dividend Yield (TTM): For the underlying holdings of the portfolio, the dividend yield measures the total amount of dividends per share paid over the last
12 months, divided by the price per share of the security. To calculate the portfolio’s dividend yield, a weighted average of the underlying holdings’ dividend
yield is taken.
9. 7-Day SEC Yield: Annualized yield calculated using interest and dividends earned and paid out over a 7-day period. It is primarily used for money market
funds. The unsubsidized version of this yield reflects what the value would be without any fee waivers or expense reimbursements.
10. 30-Day SEC Yield: Annualized yield calculated using net investment income per share earned over a 30-day period. The unsubsidized version of this
yield reflects what the value would be without any fee waivers or expense reimbursements.
11. Distribution Yield (TTM): Measures the total amount of distributions received from common dividends paid in the underlying holdings over the last 12
months.
12. Weighted Average PE Ratio: A weighted average of each underlying holding’s share price relative to the net income per share. Stocks that have EPS < 0
are excluded in this calculation.
13. Weighted Average Price to Sales Ratio: A weighted average of each underlying holding’s share price relative to the sales per share. Stocks that have
Revenue per Share < 0 are excluded in this calculation.
14. Weighted Average Price to Book Ratio: A weighted average of each underlying holding’s share price relative to the book value per share. Stocks that
have Book Value per Share < 0 are excluded in this calculation.
15. Weighted Median ROE: Return on equity is measured as the Net Income / Average TTM shareholder’s equity. On the portfolio level, the weighted
median ROE of the underlying holdings is calculated.
16. Expense Ratio: A measure of the fees charged by a fund manager to the investors that own shares of the fund. The value is a percentage and
represents the portion of the investor’s assets that are paid to the fund manager on a periodic basis.
17. Gross Expense Ratio: Represents the total expenses incurred by a mutual fund or investment product without any adjustments. It includes all costs
associated with managing and operating the fund, such as management fees, administrative expenses, marketing expenses, legal fees, and other
operational charges.
18. Net Expense Ratio: Takes into account any fee waivers or expense reimbursements that the fund may receive. These waivers or reimbursements are
often provided by the fund's management company or other entities associated with the fund to reduce the overall expenses borne by the investors. By
subtracting these waived or reimbursed amounts from the Gross Expense Ratio, the Net Expense Ratio reflects the actual expenses that investors will have
to pay.
19. Weighted Median ROA: Return on assets is measured as the Net Income / Average Total assets of the last 5 quarters. On the portfolio level, the
weighted median ROA of the underlying holdings is calculated.
20. Avg. Market Cap: Market capitalization is the share price multiplied by the total number of shares outstanding. For the portfolio, an average of the
underlying holdings’ market cap is taken.
21. Weighted Avg. Debt to Capital: The debt to capital for underlying stocks is calculated as the total long-term debt divided by the capital of the firm.
Capital is measured as the sum of common equity, preferred equity, and long term debt. For the portfolio, the weighted average is taken of the underlying
holdings’ debt to capital.

2025 YCharts, Inc. All Rights Reserved. YCharts, Inc. ('YCharts') is not registered with the U.S. Securities and Exchange Commission (or with the securities regulatory authority or body of any state or any other jurisdiction) as an
investment adviser, broker-dealer or in any other capacity, and does not purport to provide investment advice or make investment recommendations. This report has been generated using data manually input by the creator of this
report combined with data and calculations from [Link] and is intended solely to assist you or your investment or other adviser(s) in conducting investment research. You should not construe this report as an offer to buy or
sell, as a solicitation of an offer to buy or sell, or as a recommendation to buy, sell, hold or trade, any security or other nancial instrument. THE IMPORTANT DISCLOSURES FOUND AT THE END OF THIS REPORT (WHICH INCLUDE
DEFINITIONS OF CERTAIN TERMS USED IN THIS REPORT) ARE AN INTEGRAL PART OF THIS REPORT AND MUST BE READ IN CONJUNCTION WITH YOUR REVIEW OF THIS REPORT. For further information regarding your use of this
report, please go to: [Link]

Dec. 17, 2025 Built with Page 18 of 19

EUR Model - Moderate (USD Denominated)
Disclosures (continued)

22. Portfolio Rebalance: Each portfolio listed on this report contains a rebalance frequency. This can be selected when creating portfolio on YCharts. The
portfolios are rebalanced to the proper target weights at each target rebalance point. For monthly rebalancing, the portfolio will rebalance to the target
weight at the end of each calendar month. For quarterly rebalancing, the portfolio will rebalance to the target weight at the end of each calendar quarter
(March 31st, June 30th, September 30th, December 31st). For annual rebalancing, the portfolio will rebalance to the target weight at the end of each
calendar year. Lastly, if the portfolio never rebalances, the target weights are implemented at the portfolio inception date, but will not change after that.
23. Market Price: Refers to the current trading price at which shares are bought or sold on a stock exchange. It is the price at which buyers and sellers in
the market agree to transact.
24. Net Asset Value: Net Asset Value (NAV) is a financial term commonly used in the context of mutual funds and other investment funds. It represents
the per-share value of the fund's assets minus its liabilities. In simpler terms, NAV is the net value of each share in the fund.

2025 YCharts, Inc. All Rights Reserved. YCharts, Inc. ('YCharts') is not registered with the U.S. Securities and Exchange Commission (or with the securities regulatory authority or body of any state or any other jurisdiction) as an
investment adviser, broker-dealer or in any other capacity, and does not purport to provide investment advice or make investment recommendations. This report has been generated using data manually input by the creator of this
report combined with data and calculations from [Link] and is intended solely to assist you or your investment or other adviser(s) in conducting investment research. You should not construe this report as an offer to buy or
sell, as a solicitation of an offer to buy or sell, or as a recommendation to buy, sell, hold or trade, any security or other nancial instrument. THE IMPORTANT DISCLOSURES FOUND AT THE END OF THIS REPORT (WHICH INCLUDE
DEFINITIONS OF CERTAIN TERMS USED IN THIS REPORT) ARE AN INTEGRAL PART OF THIS REPORT AND MUST BE READ IN CONJUNCTION WITH YOUR REVIEW OF THIS REPORT. For further information regarding your use of this
report, please go to: [Link]

Dec. 17, 2025 Built with Page 19 of 19