VALUE INVESTORS FOR OVER 40 YEARS Since 1980, Hotchkis & Wiley has focused on discovering undervalued securities through extensive internal research. We manage $36 billion in value equity and high yield assets for institutional and mutual fund investors. The firm is independently owned with a majority interest held by employees. INDEPENDENT FIRM FOCUSED ON CLIENT INTERESTS RESEARCH ADVANTAGE * Employee ownership aligns firm goals and client goals * History of limiting assets to responsible levels * 40-year commitment to a value investment philosophy * Independent, fundamental research identifies stocks priced at a substantial discount to intrinsic value UNPARALLELED TENURE OF INVESTMENT TEAM * Industry specialists researching opportunities across capitalization, geography, and capital structure * 24 investment professionals, averaging 24 years of investment experience, supported by 6 research associates All investments contain risk and may lose value | ©2021 Hotchkis & Wiley