Artisan Partners Limited Partnership

ITEM 5 — FEES AND COMPENSATION
Artisan Partners generally receives compensation from separately managed accounts that is calculated as a
percentage of the client’s assets under management. Such asset-based fees are typically billed and paid
quarterly, after the provision of services, based on the average market value of the assets comprising the
account during the calendar quarter, although Artisan Partners will consider other methods of payment
and/or fee calculation at the request of a client. Clients may choose to pay such invoices from the assets of
the account managed by Artisan Partners or from another source. Upon a client’s request, Artisan Partners
may agree to bill a client for its services in advance of the provision of the services. If Artisan Partners has
billed in advance, any fees attributable to the period after termination will be refunded on a pro-rata basis,
calculated based on the number of days on which Artisan Partners provided investment management
services to the client during the period in which termination occurred. Any such refund will be paid promptly
after termination without further request by the client.

In addition, Artisan Partners charges performance-based fees for certain strategies. Additional information
on performance-based fees is included in the section of this brochure entitled “Performance-Based Fees and
Side-by-Side Management.”

The standard rates of fees that are charged by Artisan Partners to establish a separate account as of the date
of this brochure are shown in the table below.

                         Strategy                                      Asset Base                Annual Fee Rate
 Growth Team             Global Discovery Accounts                     All Assets                       0.75%
                         Global Opportunities Accounts                 First $50 million                0.80%
                                                                       Next $50 million                 0.60%
                                                                       Assets > $100 million            0.50%
                         US Mid-Cap Growth Accounts                    First $50 million                0.80%
                                                                       Next $50 million                 0.60%
                                                                       Assets > $100 million            0.50%
                         US Small-Cap Growth Accounts                  First $100 million               0.90%
                                                                       Assets > $100 million            0.80%
 Global Equity Team      Global Equity Accounts                        First $100 million               0.70%
                                                                       Assets > $100 million            0.50%
                         Non-US Growth Accounts                        First $50 million                0.80%
                                                                       Assets > $50 million             0.60%

                                        Artisan Partners Limited Partnership Form ADV Brochure   |   31 March 2026   7

                      Strategy                                     Asset Base                Annual Fee Rate
International Small-Mid Non-US Small-Mid Growth Accounts           First $50 million                  0.95%
Team
                                                                   Assets > $50 million               0.85%
U.S. Value Team       Value Equity Accounts                        First $50 million                  0.60%
                                                                   Next $100 million                  0.50%
                                                                   Assets > $150 million              0.40%
                      US Mid-Cap Value Accounts                    First $50 million                  0.80%
                                                                   Next $50 million                   0.60%
                                                                   Assets > $100 million              0.50%
International Value   International Value Accounts1                First $50 million                  0.80%
Group
                                                                   Next $50 million                   0.60%
                                                                   Assets > $100 million              0.50%
                      International Explorer Accounts              All Assets                    0.75% plus 20%
                                                                                                 of returns above
                                                                                                  a benchmark
Global Value Team     Global Value Accounts                        First $50 million                  0.80%
                                                                   Next $50 million                   0.60%
                                                                   Assets > $100 million              0.50%
                      Select Equity Accounts                       First $50 million                  0.65%
                                                                   Next $50 million                   0.55%
                                                                   Assets > $100 million              0.50%
Sustainable Emerging Sustainable Emerging Markets Accounts         First $100 million                 0.70%
Markets Team
                                                                   Next $100 million                  0.65%
                                                                   Assets > $200 million              0.60%
Credit Team                                    1
...

ITEM 7 — TYPES OF CLIENTS
Artisan Partners provides investment management services to pension and profit sharing plans,
corporations, trusts, endowments, foundations, charitable organizations, high net worth individuals,
governmental entities, insurance companies, commingled investment vehicles, investment advisers,
trustees of collective investment trusts and investment companies and similar pooled investment vehicles,
and also provides administrative services to certain investment vehicles. Artisan Partners also provides model
portfolios to sponsors, which are typically institutional clients and investment advisers.

Artisan Partners accepts responsibility for management of a client account on a discretionary basis and each
client enters into a written agreement with Artisan Partners granting it discretionary authority. In general,
Artisan Partners does not accept separately-managed accounts, or groups of related separately-managed
accounts, that have initial asset values less than the amounts shown below unless Artisan Partners expects
the account(s) to grow in the future. In addition, Artisan Partners may require a client whose separately-
managed account balance has fallen below the amounts shown below to make additions to its account to
meet the minimum account size as a condition of maintaining the account unless the failure to meet the
minimum account size is the result of asset depreciation due to market movements. Artisan Partners may in
the future set a higher or lower minimum account size, depending on circumstances believed by it to be
relevant.

                                          Strategy                                  Minimum Account Size
Growth Team                               Global Discovery                          $50 Million

                                          Global Opportunities                      $30 Million

                                          US Mid-Cap Growth                         $50 Million

                                          US Small-Cap Growth                       $50 Million

Global Equity Team                        Global Equity                             $30 Million

                                          Non-US Growth                             $50 Million

International Small-Mid Team              Non-US Small-Mid Growth                   $30 Million

U.S. Value Team                           Value Equity                              $30 Million

                                          US Mid-Cap Value                          $30 Million

International Value Group                 International Value1                      $75 Million

                                          International Explorer                    $50 Million

Global Value Team                         Global Value                              $30 Million

                                          Select Equity                             $30 Million

Sustainable Emerging Markets Team         Sustainable Emerging Markets              $50 Million

                                      Artisan Partners Limited Partnership Form ADV Brochure   |   31 March 2026   14

                                               Strategy                                   Minimum Account Size
Credit Team                                    High Income1                               $100 Million

                                               Credit Opportunities                       $150 Million

Developing World Team                          Developing World                           $100 Million

Antero Peak Group                              Antero Peak                                $50 Million

                                               Antero Peak Hedge                          $50 Million

    Artisan Partners is generally not accepting new client relationships in the strategies indicated. When Artisan Partners
    believes the strategy has capacity, it may, however, accept a new account in its discretion.
As of the date of this brochure, minimum account sizes have not been established for accounts in the
following strategies: Value Income, Floating Rate, Emerging Markets Debt Opportunities, Emerging Markets
Local Opportunities, Global Unconstrained, Dislocation Opportunities, Franchise and Global Special
Situations.

                                           Artisan Partners Limited Partnership Form ADV Brochure   |   31 March 2026   15