2nd Quarter Riverbridge Review

Where presented, gross-of-fee performance figures do not reflect the deduction of investment advisory fees. A client’s returns will be reduced by the advisory fee and other expenses incurred in the management of its account. For example, the deduction of a 1% advisory fee over a 10-year period would reduce a 10% gross return to an 8.9% net return. A description of Riverbridge’s advisory fees are disclosed on Part 2 of its Form ADV, a copy of which is available upon request.

Performance results do not reflect the impact of taxes.

It should not be assumed that account holdings will correspond directly to any such comparative benchmark index.

Comparative indices may be more or less volatile than Riverbridge portfolios.

Riverbridge performance results reflect the reinvestment of dividends and other account earnings, and are net of applicable account transaction charges.

Information in this document is not intended to be used as investment advice.

Mention of companies/stocks herein is for illustrative purposes only and should not be interpreted as investment advice.

The holdings included in this document are for illustrative purposes only and should not be considered a recommendation to purchase or sell any particular security. There is no guarantee that the same or similar holdings will be purchased or held in accounts in the future.

The information herein has not been based on a consideration of any individual investor circumstances and is not investment advice, nor should it be construed in any way as tax, accounting, legal or regulatory advice. To that end, investors should seek independent legal and financial advice, including advice as to tax consequences, before making any investment decision.

The above information is supplemental to the GIPS® compliant presentation. Please refer to the GIPS Compliant Presentation and Riverbridge Disclosures.