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No part of this document may","page_number":3,"box":{"x":48,"y":633,"width":904,"height":8}},{"id":"2b62acaa-01b0-4901-acad-b1e676588449","block_type":"box","text":"be reproduced in any manner without the prior permission of JUTM and/or JAM.","page_number":3,"box":{"x":48,"y":642,"width":400,"height":8}},{"id":"ed0fc934-b686-4e53-83ed-f740f7f1343d","block_type":"box","text":"© 2026 Morningstar. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or","page_number":3,"box":{"x":53,"y":665,"width":899,"height":9}},{"id":"b6350646-ab53-4ae6-bde3-db7e3a1c8e24","block_type":"box","text":"distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising","page_number":3,"box":{"x":48,"y":674,"width":903,"height":9}},{"id":"b1be59df-9a30-4153-89e2-f43298f49d1b","block_type":"box","text":"from any use of this information. Past performance is no guarantee of future results. For more detailed information about Morningstar’s Medalist Rating, including its","page_number":3,"box":{"x":47,"y":684,"width":904,"height":9}},{"id":"3f34dd8b-8b4f-46b5-a8d2-7777c94ffdc5","block_type":"box","text":"methodology, please go to: https://shareholders.morningstar.com/investor-relations/governance/Compliance--Disclosure/default.aspx","page_number":3,"box":{"x":48,"y":693,"width":716,"height":9}},{"id":"b8525c5a-9d20-4bc5-b65c-79f7c631f4a6","block_type":"box","text":"The Morningstar Medalist RatingTM is the summary expression of Morningstar’s forward-looking analysis of investment strategies as offered via specific vehicles using a","page_number":3,"box":{"x":47,"y":715,"width":905,"height":9}},{"id":"d7f190f8-48b3-462a-a687-772b8e144619","block_type":"box","text":"rating scale of Gold, Silver, Bronze, Neutral, and Negative. The Medalist Ratings indicate which investments Morningstar believes are likely to outperform a relevant index or","page_number":3,"box":{"x":48,"y":724,"width":904,"height":9}},{"id":"c2b8b59a-797a-40de-b9cb-74a826f7e5dd","block_type":"box","text":"peer group average on a risk-adjusted basis over time. Investment products are evaluated on three key pillars (People, Parent, and Process) which, when coupled with a fee","page_number":3,"box":{"x":48,"y":734,"width":903,"height":9}},{"id":"b1ef873a-3b0e-4de4-acf4-dec3ed8aef89","block_type":"box","text":"assessment, forms the basis for Morningstar’s conviction in those products’ investment merits and determines the Medalist Rating they’re assigned. Pillar ratings take the","page_number":3,"box":{"x":48,"y":743,"width":903,"height":9}},{"id":"a13f40b1-b002-4fc2-b44d-8ba04b1f1f3d","block_type":"box","text":"form of Low, Below Average, Average, Above Average, and High. Pillars may be evaluated via an analyst’s qualitative assessment (either directly to a vehicle the analyst covers","page_number":3,"box":{"x":47,"y":753,"width":904,"height":9}},{"id":"80356eb0-626f-4b46-ba38-3a5f46536e58","block_type":"box","text":"or indirectly when the pillar ratings of a covered vehicle are mapped to a related uncovered vehicle) or using algorithmic techniques. Vehicles are sorted by their expected","page_number":3,"box":{"x":48,"y":762,"width":903,"height":9}},{"id":"9ae0e5c3-5110-4372-9561-dc1c5cc0197f","block_type":"box","text":"performance into rating groups defined by their Morningstar Category and their active or passive status. 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