b'Power of CollaborationOngoing, spirited debates and exchanges engage and energize our team. Visits with management, employees, buyers and competitors provide insights that the team shares, discusses, Kopernik draws from and explores. Where we are intrigued by the potential to uncover the same investment value,weresearchevenmore.Ourclientsbenefitfromourphilosophy and process collaborative culture, and our successful union of independent ourChiefInvestmentOfficerthought and research. has been successfully developing for more than The Kopernik Team. Determined. Diverse. 40 years Dedicated. Deliberate. Motivated.Our clients have always counted on us to stay true to our pathas we move forward together.As a Kopernik client, you will benefit from:Koperniks alignment with your return and risk goalsLong-termcommitmentofanindependentlyownedfirm Proactive client service that facilitates transparencyDavid Ibens Soft and hard closes to assure our ability to meetyour objectives long-term track recordInvestment-focused attributes: has contributed to No style driftKoperniks success:Transparency into portfolio positioning, our reasoning, Recognized by Bloomberg 1 ,performance, and outlookMorningstar 2 , and Lipper 3Low correlation with the overpriced benchmarkfor investment performance.Meaningfuldiversification10 years of Kopernik4'