The objective of ABLS is to be the best at protecting and growing our clients' money over time. ABLS Investing Management (IM) has conducted its own investment research for over 80 years, focusing on long-term capital preservation and sensible risk management relative to return. The concept that the key to greater long-term investment returns is first and foremost loss avoidance has always been at the heart of our investment methodology.

We think that including environmental, social, and governance (ESG) criteria into our investment strategy improves our capacity to manage risk and meet long-term goals. We feel that ESG criteria are essential aspects in our investment strategy for both equity and fixed income investments

Our approach to investing is guided by a set of basic principles that are applied across the board of our investment portfolios and specifically considers ESG criteria. They reflect a tried-and-true methodology that has resulted in long-term client relationships and distinguished us from our competitors.

Our investment principles:

• focus on capital preservation
• conduct deep, bottom-up, fundamental research
• invest with a long-term perspective
• be disciplined and patient
• employ a value-based approach

ESG considerations are assessed as part of our investment research process to help us determine the long-term viability and sustainability of our firms and credits:

• Environmental - Companies that are resource efficient, cognizant of climate threats, and sufficiently attentive of their environmental impact may realise efficiencies that drive profits. They are also less prone to produce unanticipated liabilities that can depreciate the value of the company.
• Social - Maintaining high standards for internal and external behaviour can assist organisations in developing strong cultures, achieving better long-term outcomes for all stakeholders, and avoiding regulatory action.
• Governance - Long-term sustainability requires examining the quality of management teams, ownership structures, and the framework of laws, practises, and incentives that companies function within. Well-managed organisations, in which management teams operate as owners, are more likely to manage resources efficiently, create long-term value for shareholders, defend creditors' interests, and keep access to credit markets, in our opinion. These are important features of the businesses we choose to own for our clients.

ESG Integration: A key component of our bottom-up approach.

• Our investment team of over 50 equity and fixed income specialists is in charge of incorporating key ESG criteria into our investment analysis and decision-making process.
• While maintaining consistent with our overall investment philosophy and process, each of our investment teams takes a customised approach that is best suited to their individual strategy.
• We commit to a thorough examination of variables that could lead to capital impairment. If the risks connected with ESG are not appropriately handled and managed, as with any potential risk, it may influence our choice on how to proceed with that security.

ABLS IM is a global investment management firm that serves both institutional and individual investors. Our investment method incorporates ESG factors. We can tailor investing solutions to meet a client's specific ESG objectives or screening preferences.

_{ABLS & Co. (“ABLS”) may be used as a generic term to reference the company as a whole and/or its various subsidiaries generally. This material and any products or services may be issued or provided in multiple jurisdictions by duly authorized and regulated subsidiaries. This material is for general information and reference purposes only and does not constitute legal, tax or investment advice and is not intended as an offer to sell, or a solicitation to buy securities, services or investment products. Any reference to tax matters is not intended to be used, and may not be used, for purposes of avoiding penalties under the U.S. Internal Revenue Code, or other applicable tax regimes, or for promotion, marketing or recommendation to third parties. All information has been obtained from sources believed to be reliable, but accuracy is not guaranteed, and reliance should not be placed on the information presented. This material may not be reproduced, copied or transmitted, or any of the content disclosed to third parties, without the permission of ABLS. All trademarks and service marks included are the property of ABLS or their respective owners. © ABLS & Co. 2020. All rights reserved.}