Artisan International Explorer Strategy Co-Portfolio Managers Beini Zhou and Anand Vasagiri discuss the team’s investment approach and where they are uncovering opportunities in the non-US small cap space.

This audio recording should be reviewed in conjunction with the accompanying slide presentation, which contains standardized composite performance, portfolio holdings and other important information. Access “Slides” to view.

This investor update represents the views and opinions of the managers as of 27 October 2022, which are based on current market conditions, will fluctuate, and are subject to change without notice. While the information contained herein is believed to be reliable, there is no guarantee to the accuracy or completeness of any statement in the discussion. This material is for informational purposes only and should not be considered as investment advice or a recommendation of any investment service, product or individual security. Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation.

For the purpose of determining the portfolio’s holdings, securities of the same issuer are aggregated to determine the weight in the Strategy. The holdings mentioned above comprised the following percentages of a representative account within the Artisan International Explorer Composite’s total net assets as of 30 September 2022: Signify NV 2.78%, Mitra Adiperkasa Tbk PT 4.68%, Alten SA 2.05%, M&C Saatchi PLC 6.41%, Despegar.com Corp 4.00%, Hensoldt 4.40%, Glenveagh Properties PLC 5.16%, Medmix AG 1.12%. Securities named in the Commentary, but not listed here are not held in the portfolio as of the date of this report. Portfolio holdings are subject to change without notice and are not intended as recommendations of individual securities.

Clarification: Despegar.com Corp was the 7th largest position in the portfolio by weight as of 30 Sept 2022.

Clarification: There were 3 new purchases during the 3rd quarter of 2022.

Clarification: The share price for Medmix AG had fallen 41% from the time of IPO as of 30 Sept 2022.

This discussion is not intended to be a recommendation of any individual security. Securities mentioned, but not listed here or in the investor update presentation are not held in the Strategy as of the date of this report.

Past performance does not guarantee future results. Current and future portfolio holdings are subject to risk.

For Institutional Investor Use Only – Not for Retail Distribution