b'Benefits of Global Thought, Deep Exploration and Broad RelationshipsAt Kopernik, we understand the intricacies of investingWe scrutinize our discoveries through a nuanced in global marketplaces. To ensure we stay well-informed globallens,tocaptureandbenefitfromlong-termof world, industry and company dynamics, we havetrends, and to avoid fads or value traps. All toestablished numerous long-term relationships withuncover value for our clients. well-trusted managements, employees, government officials,regulators,andcompetitors.Theserelationships provide our professionals with a relevant understandingWe go where others wontof different cultures, governments and regulations.and we put in the work.We Are Patient InvestorsIt took more than a century for the world to accept Copernicuss radical heliocentric theory, in which the planets revolve around the sun. Sound science takes To be successful in investing,time, and solid investing does too. Both require patience people need to have a compass.and a willingness to wait to get the ideal results.Similar to Copernicuss Quantity Theory of Money, weYou need to stay in the right know that when something is necessary yet scarce, direction. The market is fickle,its value is highly likely to increase with time. We are willing to wait, and when others stop, we forge ahead. it goes up and down, so itsWe work hard to uncover businesses and appraiseessential to believe in what youre their value. We develop high conviction in the positionswe own. Patient and persistent, we are unwavering doing. You also need to be dedicatedin our quest to uncover value for our clients. and have a disciplined process. Our history proves that patience and persistence pay off.Byfocusingonsecuritiesthathavesignificant When youre doing that over the upsidetoourtargets,wefindthatthepotentiallong run, history and logic suggest returns provide an excellent return on patience. that works pretty well.When you hire Kopernik, we will help you understand Dave Ibenthevalueoftakingalong-termview.Youbenefitwhen we work together to incorporate our long-term perspective with your plan objectives.2'