FINANCIAL FIRM DALLAS Westwood offers high-conviction equity and outcome-oriented solutions to institutional investors, private wealth clients and financial intermediaries. The firm specializes in two distinct investment capabilities: U.S. Value Equity and Multi-Asset, available through separate accounts, the Westwood Funds® family of mutual funds and

other pooled

MUTUAL FUND INVESTMENTS Mutual Funds. Advisor - SMA. Insights. Contact. Institutional Sales. Intermediary and Subadvisory Sales. Westwood Funds provides mutual fund investments that advisors, private wealth clients and leading institutions have relied upon for over 30 years. Click each tile for

more information.

WESTWOOD LOGIN

Westwood Login

QUALITY SMALLCAP FUND The Westwood Quality SmallCap Fund’s investment objective is to seek long-term capital appreciation. Fund Overview. We believe investing in undervalued, high-quality businesses can potentially generate a return premium resulting in lower absolute downside risk and greater risk-adjusted returns. Focused on high-quality businesses with strong INCOME OPPORTUNITY FUND As of March 31, 2021, overall Morningstar rating against 517 funds in the Allocation – 30% to 50% Equity category based on risk-adjusted returns. Objective. The Westwood Income Opportunity Fund (the “Fund”) seeks to provide current income. A secondary objective of

the Fund is

WESTWOOD INCOME OPPORTUNITY FACT SHEET Investing Where It Counts FACT SHEET | 1Q21 100% Asymmetric Return Focus Data Set: January 1, 2003 –March 31, 2021 (Quarterly) Risk Free Proxy: FTSE (3 M) Treasury Bill (LOC)

SMIDCAP STRATEGY

Performance provided reflects the institutional track record which started January 1, 2002. In 2001, Westwood transitioned a midcap core equity strategy to the institutional SMidCap strategy. The MidCap core portfolio was exclusively offered to private clients of Westwood’s Trust Company. This change occurred as a result of the increased ALTERNATIVE INCOME FUND As of November 1, 2019, Management Fees consist of a base fee at an annualized rate of 0.53% of the Fund’s average daily net assets, and a positive or negative performance adjustment of up to an annualized rate of 0.32% based on the Fund’s Institutional Shares’ performance relative to the FTSE 1-Month U.S. Treasury Bill Index plus

2.00%

SMALLCAP VALUE STRATEGY SmallCap Value Strategy Portfolio Managers. For purposes of compliance with the GIPS standards, the firm (“Westwood” or the “Firm”) is defined as the assets of Westwood Management Corp. (“WMC”) and Westwood Advisors, L.L.C. (“Westwood Advisors”). WMC and Westwood Advisors are wholly owned subsidiaries of Westwood Holdings Group

SUSAN WEDELICH, JD

Susan Wedelich, JD Senior Vice President, Private Wealth Advisor. Contact. 713.683.7070. swedelich@westwoodgroup.com. Insights; Investor Relations; Form ADV Brochures FINANCIAL FIRM DALLAS Westwood offers high-conviction equity and outcome-oriented solutions to institutional investors, private wealth clients and financial intermediaries. The firm specializes in two distinct investment capabilities: U.S. Value Equity and Multi-Asset, available through separate accounts, the Westwood Funds® family of mutual funds and

other pooled

MUTUAL FUND INVESTMENTS Mutual Funds. Advisor - SMA. Insights. Contact. Institutional Sales. Intermediary and Subadvisory Sales. Westwood Funds provides mutual fund investments that advisors, private wealth clients and leading institutions have relied upon for over 30 years. Click each tile for

more information.

WESTWOOD LOGIN

Westwood Login

QUALITY SMALLCAP FUND The Westwood Quality SmallCap Fund’s investment objective is to seek long-term capital appreciation. Fund Overview. We believe investing in undervalued, high-quality businesses can potentially generate a return premium resulting in lower absolute downside risk and greater risk-adjusted returns. Focused on high-quality businesses with strong INCOME OPPORTUNITY FUND As of March 31, 2021, overall Morningstar rating against 517 funds in the Allocation – 30% to 50% Equity category based on risk-adjusted returns. Objective. The Westwood Income Opportunity Fund (the “Fund”) seeks to provide current income. A secondary objective of

the Fund is

WESTWOOD INCOME OPPORTUNITY FACT SHEET Investing Where It Counts FACT SHEET | 1Q21 100% Asymmetric Return Focus Data Set: January 1, 2003 –March 31, 2021 (Quarterly) Risk Free Proxy: FTSE (3 M) Treasury Bill (LOC)

SMIDCAP STRATEGY

Performance provided reflects the institutional track record which started January 1, 2002. In 2001, Westwood transitioned a midcap core equity strategy to the institutional SMidCap strategy. The MidCap core portfolio was exclusively offered to private clients of Westwood’s Trust Company. This change occurred as a result of the increased ALTERNATIVE INCOME FUND As of November 1, 2019, Management Fees consist of a base fee at an annualized rate of 0.53% of the Fund’s average daily net assets, and a positive or negative performance adjustment of up to an annualized rate of 0.32% based on the Fund’s Institutional Shares’ performance relative to the FTSE 1-Month U.S. Treasury Bill Index plus

2.00%

SMALLCAP VALUE STRATEGY SmallCap Value Strategy Portfolio Managers. For purposes of compliance with the GIPS standards, the firm (“Westwood” or the “Firm”) is defined as the assets of Westwood Management Corp. (“WMC”) and Westwood Advisors, L.L.C. (“Westwood Advisors”). WMC and Westwood Advisors are wholly owned subsidiaries of Westwood Holdings Group

SUSAN WEDELICH, JD

Susan Wedelich, JD Senior Vice President, Private Wealth Advisor. Contact. 713.683.7070. swedelich@westwoodgroup.com. Insights; Investor Relations; Form ADV Brochures WESTWOOD HOLDINGS GROUP CORPORATE OVERVIEW Investment Professionals. Deep and Experienced Team. 2 Offices. Dallas and Houston. 38. Years. Westwood Management Corp was founded in 1983 as an SEC Registered Investment Advisor. NYSE: WHG. Since 2002, Westwood Holdings Group, Inc. has been a publicly traded company.

BASIS POINTS

1 day ago · Above the Fold. Is $100 Oil Making a Comeback? As the world continues its transition to clean energy, crude prices seem to be making their last stand. CORPORATE DEBT: ARE JUICIER YIELDS WORTH THE EXTRA RISK In response to a pandemic-induced sell-off in March 2020, the Federal Reserve announced that it would purchase corporate bonds, including riskier junk bonds, as part of

WESTWOOD LOGIN

Westwood Login

ESG INVESTING

ESG Integration Across our strategies, ESG analysis is designed to focus only on material factors. We support this approach with an explicit acknowledgement that fundamental analysis of ESG is highly nuanced by security (sector, size, geography) and investment strategy (holding period, position size,

CLIENT ACCESS

Description—Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

ANNUAL REPORTS

Quality is the Key to Getting the Shift to Small Cap Value Right CAREERS - BENEFITS - WESTWOODGROUP.COM Westwood cares about the well-being of our employees. To encourage and support our people, we also offer a variety of other benefits that encourage employee satisfaction at work and allows employees to participate in our traditions and enrich our culture. Office kitchens are stocked with assorted beverages.

JILL MEYER, JD, CPA

Jill Meyer, JD, CPA Senior Vice President, Director of Fiduciary Services. Contact. 214.624.9589. jmeyer@westwoodgroup.com. Insights; Investor Relations; Form ADV

SUSAN WEDELICH, JD

Susan Wedelich, JD Senior Vice President, Private Wealth Advisor. Contact. 713.683.7070. swedelich@westwoodgroup.com. Insights; Investor Relations; Form ADV Brochures FINANCIAL FIRM DALLAS Westwood offers high-conviction equity and outcome-oriented solutions to institutional investors, private wealth clients and financial intermediaries. The firm specializes in two distinct investment capabilities: U.S. Value Equity and Multi-Asset, available through separate accounts, the Westwood Funds® family of mutual funds and

other pooled

MUTUAL FUND INVESTMENTS Mutual Funds. Advisor - SMA. Insights. Contact. Institutional Sales. Intermediary and Subadvisory Sales. Westwood Funds provides mutual fund investments that advisors, private wealth clients and leading institutions have relied upon for over 30 years. Click each tile for

more information.

WESTWOOD LOGIN

Westwood Login

QUALITY SMALLCAP FUND The Westwood Quality SmallCap Fund’s investment objective is to seek long-term capital appreciation. Fund Overview. We believe investing in undervalued, high-quality businesses can potentially generate a return premium resulting in lower absolute downside risk and greater risk-adjusted returns. Focused on high-quality businesses with strong INCOME OPPORTUNITY FUND As of March 31, 2021, overall Morningstar rating against 517 funds in the Allocation – 30% to 50% Equity category based on risk-adjusted returns. Objective. The Westwood Income Opportunity Fund (the “Fund”) seeks to provide current income. A secondary objective of

the Fund is

WESTWOOD INCOME OPPORTUNITY FACT SHEET Investing Where It Counts FACT SHEET | 1Q21 100% Asymmetric Return Focus Data Set: January 1, 2003 –March 31, 2021 (Quarterly) Risk Free Proxy: FTSE (3 M) Treasury Bill (LOC)

SMIDCAP STRATEGY

Performance provided reflects the institutional track record which started January 1, 2002. In 2001, Westwood transitioned a midcap core equity strategy to the institutional SMidCap strategy. The MidCap core portfolio was exclusively offered to private clients of Westwood’s Trust Company. This change occurred as a result of the increased ALTERNATIVE INCOME FUND As of November 1, 2019, Management Fees consist of a base fee at an annualized rate of 0.53% of the Fund’s average daily net assets, and a positive or negative performance adjustment of up to an annualized rate of 0.32% based on the Fund’s Institutional Shares’ performance relative to the FTSE 1-Month U.S. Treasury Bill Index plus

2.00%

SMALLCAP VALUE STRATEGY SmallCap Value Strategy Portfolio Managers. For purposes of compliance with the GIPS standards, the firm (“Westwood” or the “Firm”) is defined as the assets of Westwood Management Corp. (“WMC”) and Westwood Advisors, L.L.C. (“Westwood Advisors”). WMC and Westwood Advisors are wholly owned subsidiaries of Westwood Holdings Group

SUSAN WEDELICH, JD

Susan Wedelich, JD Senior Vice President, Private Wealth Advisor. Contact. 713.683.7070. swedelich@westwoodgroup.com. Insights; Investor Relations; Form ADV Brochures FINANCIAL FIRM DALLAS Westwood offers high-conviction equity and outcome-oriented solutions to institutional investors, private wealth clients and financial intermediaries. The firm specializes in two distinct investment capabilities: U.S. Value Equity and Multi-Asset, available through separate accounts, the Westwood Funds® family of mutual funds and

other pooled

MUTUAL FUND INVESTMENTS Mutual Funds. Advisor - SMA. Insights. Contact. Institutional Sales. Intermediary and Subadvisory Sales. Westwood Funds provides mutual fund investments that advisors, private wealth clients and leading institutions have relied upon for over 30 years. Click each tile for

more information.

WESTWOOD LOGIN

Westwood Login

QUALITY SMALLCAP FUND The Westwood Quality SmallCap Fund’s investment objective is to seek long-term capital appreciation. Fund Overview. We believe investing in undervalued, high-quality businesses can potentially generate a return premium resulting in lower absolute downside risk and greater risk-adjusted returns. Focused on high-quality businesses with strong INCOME OPPORTUNITY FUND As of March 31, 2021, overall Morningstar rating against 517 funds in the Allocation – 30% to 50% Equity category based on risk-adjusted returns. Objective. The Westwood Income Opportunity Fund (the “Fund”) seeks to provide current income. A secondary objective of

the Fund is

WESTWOOD INCOME OPPORTUNITY FACT SHEET Investing Where It Counts FACT SHEET | 1Q21 100% Asymmetric Return Focus Data Set: January 1, 2003 –March 31, 2021 (Quarterly) Risk Free Proxy: FTSE (3 M) Treasury Bill (LOC)

SMIDCAP STRATEGY

Performance provided reflects the institutional track record which started January 1, 2002. In 2001, Westwood transitioned a midcap core equity strategy to the institutional SMidCap strategy. The MidCap core portfolio was exclusively offered to private clients of Westwood’s Trust Company. This change occurred as a result of the increased ALTERNATIVE INCOME FUND As of November 1, 2019, Management Fees consist of a base fee at an annualized rate of 0.53% of the Fund’s average daily net assets, and a positive or negative performance adjustment of up to an annualized rate of 0.32% based on the Fund’s Institutional Shares’ performance relative to the FTSE 1-Month U.S. Treasury Bill Index plus

2.00%

SMALLCAP VALUE STRATEGY SmallCap Value Strategy Portfolio Managers. For purposes of compliance with the GIPS standards, the firm (“Westwood” or the “Firm”) is defined as the assets of Westwood Management Corp. (“WMC”) and Westwood Advisors, L.L.C. (“Westwood Advisors”). WMC and Westwood Advisors are wholly owned subsidiaries of Westwood Holdings Group

SUSAN WEDELICH, JD

Susan Wedelich, JD Senior Vice President, Private Wealth Advisor. Contact. 713.683.7070. swedelich@westwoodgroup.com. Insights; Investor Relations; Form ADV Brochures WESTWOOD HOLDINGS GROUP CORPORATE OVERVIEW Investment Professionals. Deep and Experienced Team. 2 Offices. Dallas and Houston. 38. Years. Westwood Management Corp was founded in 1983 as an SEC Registered Investment Advisor. NYSE: WHG. Since 2002, Westwood Holdings Group, Inc. has been a publicly traded company.

BASIS POINTS

1 day ago · Above the Fold. Is $100 Oil Making a Comeback? As the world continues its transition to clean energy, crude prices seem to be making their last stand. CORPORATE DEBT: ARE JUICIER YIELDS WORTH THE EXTRA RISK In response to a pandemic-induced sell-off in March 2020, the Federal Reserve announced that it would purchase corporate bonds, including riskier junk bonds, as part of

WESTWOOD LOGIN

Westwood Login

ESG INVESTING

ESG Integration Across our strategies, ESG analysis is designed to focus only on material factors. We support this approach with an explicit acknowledgement that fundamental analysis of ESG is highly nuanced by security (sector, size, geography) and investment strategy (holding period, position size,

CLIENT ACCESS

Description—Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat.

ANNUAL REPORTS

Quality is the Key to Getting the Shift to Small Cap Value Right CAREERS - BENEFITS - WESTWOODGROUP.COM Westwood cares about the well-being of our employees. To encourage and support our people, we also offer a variety of other benefits that encourage employee satisfaction at work and allows employees to participate in our traditions and enrich our culture. Office kitchens are stocked with assorted beverages.

JILL MEYER, JD, CPA

Jill Meyer, JD, CPA Senior Vice President, Director of Fiduciary Services. Contact. 214.624.9589. jmeyer@westwoodgroup.com. Insights; Investor Relations; Form ADV

SUSAN WEDELICH, JD

Susan Wedelich, JD Senior Vice President, Private Wealth Advisor. Contact. 713.683.7070. swedelich@westwoodgroup.com. Insights; Investor Relations; Form ADV Brochures

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INVESTING

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INVESTMENT MANAGEMENT Westwood offers investment capabilities across high-conviction equity and outcome-oriented solutions for institutional investors, intermediaries and financial advisors.

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WEALTH MANAGEMENT

Westwood offers expert advice to oversee every aspect of a client’s wealth strategy including financial planning, trust and estate services, customized investment solutions and financial services for charitable organizations.

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CORPORATE OVERVIEW

Westwood is a publicly traded company that communicates with investors, financial analysts and the public, and is committed to best-in-class disclosure, transparency and public relations practices.

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WESTWOOD OFFERS HIGH-CONVICTION EQUITY AND OUTCOME-ORIENTED SOLUTIONS TO INSTITUTIONAL INVESTORS, PRIVATE WEALTH CLIENTS AND FINANCIAL

INTERMEDIARIES.

The firm specializes in three distinct investment capabilities: U.S. Value Equity, Multi-Asset and Emerging Markets Equity. To meet the full range of investors’ financial needs, access to these strategies is available through separate accounts, the Westwood Funds® family of mutual funds, UCITS funds and other pooled vehicles. Westwood benefits from significant, broad-based employee ownership and trades on the New York Stock Exchange under the symbol “WHG.” Based in Dallas, Westwood also maintains offices in Boston, Houston and

Toronto.

QUALITY IS THE KEY TO GETTING THE SHIFT TO SMALL CAP VALUE RIGHT

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CONSISTENCY MATTERS IN SMALL CAP INVESTING Consistency of small cap returns across multiple market periods should be a strategic consideration...

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FIRST LOOK 2020: MELT UP MAY CONTINUE If you asked most investors at the end of 2018 where the country would

be...

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Westwood Holdings Group, Inc. 200 Crescent Court, Suite 1200

Dallas, TX 75201

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