William Blair & Company, L.L.C.: provides investment banking, asset management for private wealth and institutional clients, institutional sales and trading, equity research, and corporate and executive services. William Blair & Company, L.L.C. is registered with the U.S. Securities & Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). Registration with the SEC does not imply a certain level of skill or training. As of December 31, 2025, William Blair & Company, L.L.C. had approximately $82 billion in client assets, of which approximately $61 billion constitutes regulatory assets under management.

William Blair Investment Management, LLC: provides asset management services to institutional clients including the William Blair Funds. William Blair Investment Management, LLC is registered with the SEC and the U.S. Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA). Registration with the SEC and CFTC does not imply a certain level of skill or training. As of December 31, 2025, William Blair Investment Management, LLC had approximately $72 billion in client assets, of which approximately $65.5 billion constitutes regulatory assets under management.*

William Blair International, Ltd: primarily provides investment banking, asset management, and institutional sales and trading services to professional clients. William Blair International, Ltd is authorised and regulated by the UK Financial Conduct Authority (FCA), having registration number 189068.

* Total assets and total strategy assets are inclusive of total discretionary assets under management (AUM) as well as non-discretionary assets under advisement (AUA), as indicated. AUA generally consists of non-discretionary advisory assets managed by third parties in accordance with investment model portfolios provided by William Blair Investment Management, LLC (William Blair). William Blair receives an asset-based fee on AUA but does not exercise investment discretion or trading authority over such assets. All AUA data is reported on a one-month lag. William Blair’s measure of AUM/AUA for these purposes may differ from the calculations employed by other investment managers and, as a result, may not be directly comparable. This measure also differs from the manner in which William Blair is required to report assets under management in certain regulatory filings.