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8 Individual Bond Strategies 1 Subject to FDIC insurance rules which may include but are not limited to: (1) with respect to CDs, caps on amounts insurable on a per depositor, per depository institution basis, and changes in insurable amounts for different time periods; and (2) with respect to FDIC-insured corporate debt, caps on the amount of such debt a corporation can issue. Please consult with your client and consider the FDIC rules before making the decision to invest in an FDIC-insured product. This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice. This information is for educational purposes only. There are risks involved with investing including possible loss of principal. Bonds and bond funds will decrease in value as interest rates rise. This information should not be construed as advice or a recommendation to purchase or sell a security. You should not act or rely on the information contained herein without obtaining specific legal, tax, accounting and investment advice from an investment professional. Your financial advisor is not affiliated with SEI or its subsidiaries. There is no guarantee that an investment's income will be exempt from federal or state income taxes or the federal alternative minimum tax. Capital gains, if any, are subject to capital gains tax. TIPS can provide investors a hedge against inflation, as the inflation adjustment feature helps preserve the purchasing power of the investment. Because of this inflation adjustment feature, inflation protected bonds typically have lower yields than conventional fixed rate bonds. International investments may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles or from economic or political instability in other nations. Diversification may not protect against market risk. There is no guarantee the goal of the strategies discussed will be met. SEI Fixed Income Portfolio Management is a team within SEI Investments Management Corporation, which acts as investment adviser. For those portfolios of individually managed securities, SEI Investments Management Corporation (SIMC) makes recommendations as to which manager will manage each asset class. Upon SIMC's termination of a manager from the program, SIMC may recommend a replacement money manager and the investor has the option to move the account assets to another custodian or to change the manager. SIMC is a wholly owned subsidiary of SEI Investments Company (SEI). There are risks involved with investing, including loss of principal. There is no assurance the goals of the strategy discussed will be met nor that risk can be managed successfully. Tracking error risk is the risk that the performance of a portfolio designed to track an index may vary substantially from the performance of the benchmark index it tracks as a result of cash flows, portfolio expenses, imperfect correlation between the portfolio's and benchmark's investments and other factors. This risk is magnified when sampling a benchmark index as the strategy may not track the return of its benchmark index as well as it would have if the strategy purchased all of the securities in its benchmark index. Neither SEI nor its subsidiaries provide tax advice. Please note that (i) any discussion of U.S. tax matters contained in this communication cannot be used by you for the purpose of avoiding tax penalties; (ii) this communication was written to support the promotion or marketing of the matters addressed herein; and (iii) you should seek advice based on your particular circumstances from an independent tax advisor. © 2024 SEI ® 240098.80 ADV 12/24 Portfolio style descriptions. Municipal Bond Portfolio: The portfolio seeks to invest in securities that pay tax-exempt income. These securities are issued nationally by state or local municipalities. The portfolio invests in securities that carry an investment-grade credit rating. U.S. Treasury Bond Portfolio: The portfolio invests in U.S. Treasury obligations, exclusively issued within the United States. Corporate Bond Portfolio: The portfolio invests primarily in higher quality corporate debt securities issued by U.S. and foreign companies. Holdings may be a mix of fixed-rate and floating- rate securities that are all investment grade. Government/Corporate Bond Portfolio: The portfolio invests primarily in U.S. government securities, including those issued or guaranteed by the United States, its agencies, or instrumentalities. The portfolio may also invest in higher quality corporate securities that hold an investment-grade credit rating. The SEI Fixed Income Portfolio Management team supports a variety of portfolio styles that can be used to build out each investment strategy (Ladders, Barbell, Bullet, Term Maturity, and style-specific strategies). A brief description of each portfolio style is provided below. Tax-Aware Bond Portfolio: The portfolio has the ability to invest in both the tax-exempt sector (investment-grade municipal bonds) and taxable sectors (investment-grade U.S. corporate and U.S. government fixed-income securities), with security selection driven by the highest tax-equivalent yield at the time of purchase. Treasury Inflation-Protected Security Portfolio: The portfolio invests in securities whose principal is adjusted quarterly based on inflation with the goal of mitigating the effects of inflation. The portfolio invests in bonds that are backed by the full faith and credit of the U.S. government. Certificate of Deposit Portfolio: The portfolio seeks to invest in securities that are issued by banks or corporations. These securities are backed and guaranteed by the Federal Deposit Insurance Corporation (FDIC). 1

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