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24 | Envestnet | PMC Investment Methodology Guide FOR ONE-ON-ONE USE WITH A CLIENT'S FINANCIAL ADVISOR ONLY The information, analysis, and opinions expressed herein are for general information only. Nothing contained in this document is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Investing carries certain risks, and there is no assurance that investing in accordance with the portfolios mentioned will provide positive performance over any period of time. Investors could lose money if they invest in accordance with the portfolios discussed herein. Past performance is not indicative of future results. Diversification does not guarantee a profit or guarantee protection against losses. Neither Envestnet|PMC nor its representatives render tax, accounting, or legal advice. Any tax statements contained herein are not intended or written to be used, and cannot be used, for the purpose of avoiding U.S. federal, state, or local tax penalties. Taxpayers should always seek advice, based on their own particular circumstances from an independent tax advisor. Investment decisions should always be made based on the investor's specific financial needs and objectives, goals, time horizon, and risk tolerance. The statements contained herein are based upon the opinions of PMC and third-party sources. Information obtained from third-party sources is believed to be reliable but not guaranteed. All opinions and views constitute our judgments as of the date of writing and are subject to change at any time without notice. Envestnet reserves the right to add to, change, or eliminate any of the investment solutions, services and/or service levels listed herein without prior notice to the advisor or client. Exchange Traded Funds (ETFs) and mutual funds are subject to risks similar to those of stocks, such as market risk. Investing in ETFs may bear indirect fees and expenses charged by ETFs in addition to their direct fees and expenses, as well as indirectly bearing the principal risks of those ETFs. Income (bond) ETFs and mutual funds are subject to interest rate risk, which is the risk that debt securities in a fund's portfolio will decline in value because of increases in market interest rates. Alternative Investments may have complex terms and features that are not easily understood and are not suitable for all investors. Before investing, you should conduct your own due diligence to ensure you understand the features of the product. Alternative investment strategies may employ a variety of hedging techniques and nontraditional instruments, such as inverse and leveraged products. Certain hedging techniques include matched combinations that neutralize or offset individual risks, such as merger arbitrage, long/short equity, convertible bond arbitrage, and fixed-income arbitrage. Leveraged products are those that employ financial derivatives and debt to try to achieve a multiple (for example two or three times) of the return, or inverse return, of a stated index or benchmark over the course of a single day. The information contained in this document is for general guidance only. While we have made every attempt to ensure that the information contained herein has been obtained from reliable sources, Envestnet is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information is provided "as is", with no guarantee of completeness, accuracy or timeliness, and without warranty of any kind, express or implied, including, but not limited to warranties of performance and risk management. Envestnet reserves the right to add to, change, or eliminate any of the services and/or service levels listed herein without prior notice to the customer. FOR ONE-ON-ONE USE WITH A CLIENT'S FINANCIAL ADVISOR ONLY © 2017 Envestnet | PMC. All rights reserved._PMC-BR-IMG-0915 / SR #781260 The information, analysis, and opinions expressed herein are for general information only. Nothing contained in this document is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. Investing carries certain risks, and there is no assurance that investing in accordance with the portfolios mentioned will provide positive performance over any period of time. Investors could lose money if they invest in accordance with the portfolios discussed herein. Past performance is not indicative of future results. Diversification does not guarantee a profit or guarantee protection against losses. Neither Envestnet|PMC nor its representatives render tax, accounting, or legal advice. Any tax statements contained herein are not intended or written to be used, and cannot be used, for the purpose of avoiding U.S. federal, state, or local tax penalties. Taxpayers should always seek advice, based on their own particular circumstances from an independent tax advisor. Investment decisions should always be made based on the investor's specific financial needs and objectives, goals, time horizon, and risk tolerance. The statements contained herein are based upon the opinions of PMC and third-party sources. Information obtained from third-party sources is believed to be reliable but not guaranteed. All opinions and views constitute our judgments as of the date of writing and are subject to change at any time without notice. Envestnet reserves the right to add to, change, or eliminate any of the investment solutions, services and/or service levels listed herein without prior notice to the advisor or client. Advisors should always conduct their own research and due diligence on investment products and the product managers prior to offering or making a recommendation to a client. Exchange Traded Funds (ETFs) and mutual funds are subject to risks similar to those of stocks, such as market risk. Investing in ETFs may bear indirect fees and expenses charged by ETFs in addition to their direct fees and expenses, as well as indirectly bearing the principal risks of those ETFs. Income (bond) ETFs and mutual funds are subject to interest rate risk, which is the risk that debt securities in a fund's portfolio will decline in value because of increases in market interest rates. Investors should consider the investment objectives, risks, and charges and expenses of mutual funds carefully before investing. A prospectus or summary prospectus which contains this and other information about these funds can be obtained by contacting your Financial Advisor or the fund directly. Please read the prospectus carefully before investing. Alternative Investments may have complex terms and features that are not easily understood and are not suitable for all investors. Before investing, you should conduct your own due diligence to ensure you understand the features of the product. Alternative investment strategies may employ a variety of hedging techniques and nontraditional instruments, such as inverse and leveraged products. Certain hedging techniques include matched combinations that neutralize or offset individual risks, such as merger arbitrage, long/short equity, convertible bond arbitrage, and fixed-income arbitrage. Leveraged products are those that employ financial derivatives and debt to try to achieve a multiple (for example two or three times) of the return, or inverse return, of a stated index or benchmark over the course of a single day. The information contained in this document is for general guidance only. While we have made every attempt to ensure that the information contained herein has been obtained from reliable sources, Envestnet is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information is provided "as is", with no guarantee of completeness, accuracy or timeliness, and without warranty of any kind, express or implied, including, but not limited to warranties of performance and risk management. Envestnet reserves the right to add to, change, or eliminate any of the services and/or service levels listed herein without prior notice to the customer. Investments that utilize an environmental, social and governance (¨ESG¨) strategy carry specific risks that investors should consider before investing in ESG portfolios. Pursuing an ESG investment strategy may limit the types and number of certain issuers for nonfinancial reasons, as a result, may lead to underperforming other funds that do not have an ESG focus. A fund's ESG investment strategy may result in the fund investing in securities or industry sectors that underperform the market as a whole or underperform other funds that are not ESG integrated or screened for ESG standards. FOR ONE-ON-ONE USE WITH A CLIENT'S FINANCIAL ADVISOR ONLY © 2023 Envestnet | PMC. All rights reserved. PMC-BR-IMG-0623