Opportunistic Securitized Credit, High Yield Securitized Credit , Overview Composite Performance Monthly Characteristics Quarterly Characteristics Overview The Opportunistic Securitized Credit strategy pursues high current income and total potential returns through a diversified credit exposure to securitized assets including asset-backed securities (ABS), collateralized loan obligation securities (CLO), commercial mortgage-backed securities (CMBS), and non-agency residential mortgage-backed securities (RMBS)View factsheet , The High Yield Securitized Credit strategy pursues high current income and total potential returns through a diversified credit exposure to securitized assets including asset-backed securities (ABS), commercial mortgage-backed securities (CMBS), and non-agency residential mortgage-backed securities (RMBS)View factsheet Morningstar Category ICE BofA ABS & CMBS IndexPortfolio Management Alessandro Pagani Read bio Stephen L'Heureux Read bio Steve LaPlante Read bio Jennifer Thomas Portfolio Manager, Senior Analyst, Consumer ABS, Mortgage & Structured Finance Read bio Read bio Read bio Read bio Jennifer Thomas Portfolio Manager, Senior Analyst, Consumer ABS, Mortgage & Structured Finance Read bio Goal Credit focused strategy that seeks to outperform through both security selection and sector allocation within the non-agency securitized asset classes Securitized credit generally results in a portfolio with shorter duration than overall fixed income market Value-oriented strategy targeting the deeper credit securitized sectors Ability to invest in distressed securities and residual/equity classes of securitizations Minimum average rating: BBB-* at time of purchase Credit focused strategy that seeks to outperform through both security selection and sector allocation within the non-agency securitized asset classes Securitized credit generally results in a portfolio with shorter duration than overall fixed income market Seeks to maintain a high yield risk profile but can hold securities rated above investment grade Ability to invest in distressed securities and residual/equity classes of securitizations Strategy has no restrictions based on credit ratings , Morningstar Category BofA Merrill Lynch US ABS & CMBS IndexPortfolio Management Alessandro Pagani Read bio Stephen L'Heureux Read bio Steve LaPlante Read bio Jennifer Thomas Portfolio Manager, Senior Analyst, Consumer ABS, Mortgage & Structured Finance Read bio Read bio Read bio Read bio Jennifer Thomas Portfolio Manager, Senior Analyst, Consumer ABS, Mortgage & Structured Finance Read bio Goal Credit focused strategy that seeks to outperform through both security selection and sector allocation within the non-agency securitized asset classes Securitized credit generally results in a portfolio with shorter duration than overall fixed income market Value-oriented strategy targeting the deeper credit securitized sectors Ability to invest in distressed securities and residual/equity classes of securitizations Minimum average rating: BBB-* at time of purchase Credit focused strategy that seeks to outperform through both security selection and sector allocation within the non-agency securitized asset classes Securitized credit generally results in a portfolio with shorter duration than overall fixed income market Seeks to maintain a high yield risk profile but can hold securities rated above investment grade Ability to invest in distressed securities and residual/equity classes of securitizations Strategy has no restrictions based on credit ratings Strategy Facts as of 12/31/2023Strategy Inception12/15/2011Strategy Inception$Strategy Assets$326.3 millionComposite Assets1Number of Composite AccountsICE BofA ABS & CMBS IndexFact Sheet, Strategy Facts as of 12/31/2023Strategy Inception12/15/2011Strategy Inception$Strategy Assets$326.3 millionComposite Assets1Number of Composite AccountsBofA Merrill Lynch US ABS & CMBS IndexFact Sheet *Based on minimum average rating assigned by Standard & Poor’s Rating Services, Moody’s Investors Service, Inc. or Fitch, Inc , Effective 6/30/2020 the Composite formerly known as High Yield Securitized changed its name. The Composite includes all discretionary accounts with market values greater than $25 million managed by Loomis Sayles with guidelines that allow for unrestricted allocation to Non-agency MBS, which are typically rated below investment grade, and benchmarked against broad securitized market indices. The Composite inception date is February 1, 2012. The Composite was created in 2012. Performance Morningstar Category: ICE BofA ABS & CMBS Index, Morningstar Category: BofA Merrill Lynch US ABS & CMBS Index Quarter-End Performance as of 12/31/2023CumulativeGrossNetIndex3 month4.40%4.27%3.59% Year-to-date10.20%9.65%5.55%Trailing Performance as of 12/31/2023Average Annualized ReturnGrossNetIndex1 year10.20%9.65%5.55% 3 years4.19%3.67%-0.67% 5 years3.73%3.22%1.77% 10 years4.89%4.37%2.00% Since Inception 2/1/20126.39%5.87%2.15%, Quarter-End Performance as of 12/31/2023CumulativeGrossNetIndex3 month4.40%4.27%3.59% Year-to-date10.20%9.65%5.55%Trailing Performance as of 12/31/2023Average Annualized ReturnGrossNetIndex1 year10.20%9.65%5.55% 3 years4.19%3.67%-0.67% 5 years3.73%3.22%1.77% 10 years4.89%4.37%2.00% Since Inception 2/1/20126.39%5.87%2.15% Period PerformanceYearGrossNetIndex202310.20%9.65%5.55% 2022-4.44%-4.92%-7.20% 20217.40%6.87%0.05% 20200.09%-0.41%5.20% 20196.11%5.58%5.89% 20184.81%4.29%1.74% 20178.92%8.38%2.84% 20166.08%5.55%2.71% 20153.79%3.27%0.81% 20146.75%6.22%3.09% Lipper Analytical Services Inc., a Thomson Reuters Company, is a nationally recognized organization that provides performance information for mutual funds. 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Lipper shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.© 2024 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Monthly Characteristics Monthly as of -1/-1/-1 Currency Distribution @ERROR% Duration Distribution @ERROR% Sector Distribution (Fixed) * 0.0% Country Distribution @ERROR% Maturity Distribution @ERROR% Credit Quality @ERROR% Portfolio composition statistics are from the adviser’s internal system and may not match the fund’s regulatory documents. Credit Quality reflects the highest credit rating assigned to individual holdings of the fund among Moody’s, S&P or Fitch; ratings are subject to change. The fund’s shares are not rated by any rating agency and no credit rating for fund shares is implied. Bond credit ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest).Cash & Equivalents reflects unsettled trades, fees and derivatives. Negative Cash & Equivalents reflect the market value of future trade commitments for the fund. ABS/RMBS: Asset-Backed Securities/Residential Mortgage-Backed Securities. Agency MBS: Agency Mortgage-Backed Securities. CMBS: Commercial Mortgage-Backed Securities. Due to rounding, Sector, Currency, Country, Duration, Maturity and Quality distribution totals may not equal 100%., Portfolio composition statistics are from the adviser’s internal system and may not match the fund’s regulatory documents. Credit Quality reflects the highest credit rating assigned to individual holdings of the fund among Moody’s, S&P or Fitch; ratings are subject to change. The fund’s shares are not rated by any rating agency and no credit rating for fund shares is implied. Bond credit ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest).Cash & Equivalents reflects unsettled trades, fees and derivatives. Negative Cash & Equivalents reflect the market value of future trade commitments for the fund. ABS/RMBS: Asset-Backed Securities/Residential Mortgage-Backed Securities. Agency MBS: Agency Mortgage-Backed Securities. CMBS: Commercial Mortgage-Backed Securities. Due to rounding, Sector, Currency, Country, Duration, Maturity and Quality distribution totals may not equal 100%. Quarterly Characteristics Quarterly as of -1/-1/-1 Currency DistributionFundIndex @ERROR%0.0% Duration DistributionFundIndex @ERROR%@ERROR% Sector Distribution (Fixed) *FundIndex 0.0%0.0% 0.0%0.0% Country DistributionFundIndex @ERROR%0.0% Maturity DistributionFundIndex @ERROR%@ERROR% Credit QualityFundIndex@ERROR%0.0% Portfolio composition statistics are from the adviser’s internal system and may not match the fund’s regulatory documents. Credit Quality reflects the highest credit rating assigned to individual holdings of the fund among Moody’s, S&P or Fitch; ratings are subject to change. The fund’s shares are not rated by any rating agency and no credit rating for fund shares is implied. Bond credit ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest).Cash & Equivalents reflects unsettled trades, fees and derivatives. Negative Cash & Equivalents reflect the market value of future trade commitments for the fund. ABS/RMBS: Asset-Backed Securities/Residential Mortgage-Backed Securities. Agency MBS: Agency Mortgage-Backed Securities. CMBS: Commercial Mortgage-Backed Securities. Due to rounding, Sector, Currency, Country, Duration, Maturity and Quality distribution totals may not equal 100%., Portfolio composition statistics are from the adviser’s internal system and may not match the fund’s regulatory documents. Credit Quality reflects the highest credit rating assigned to individual holdings of the fund among Moody’s, S&P or Fitch; ratings are subject to change. The fund’s shares are not rated by any rating agency and no credit rating for fund shares is implied. Bond credit ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest).Cash & Equivalents reflects unsettled trades, fees and derivatives. Negative Cash & Equivalents reflect the market value of future trade commitments for the fund. ABS/RMBS: Asset-Backed Securities/Residential Mortgage-Backed Securities. Agency MBS: Agency Mortgage-Backed Securities. CMBS: Commercial Mortgage-Backed Securities. Due to rounding, Sector, Currency, Country, Duration, Maturity and Quality distribution totals may not equal 100%. Holdings Top Ten Holdingsas of 12/31/2023% Assets @ERROR%, Top Ten Holdingsas of 12/31/2023% Assets @ERROR% Top 10 holdings may not be representative of current or future holdings and will evolve over time.