Artisan Partners Asset Management

BUSINESS UPDATE AND FIRST QUARTER 2021 EARNINGS PRESENTATION

BUSINESS PHILOSOPHY & APPROACH

High Value Added

Talent Driven

Thoughtful

Investment Firm

Business Model

Growth

Designed for Investment

Active StrategiesActive Talent Identification Talent to Thrive

Autonomous Franchises

Managed by Business Professionals

Entrepreneurial Commitment

Proven ResultsStructured to Align Interests

Focus on Long-Term

Global Demand

Since its founding, Artisan has built its business based upon a consistent philosophy and business model.

ARTISAN PARTNERS ASSET MANAGEMENT

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HIGH VALUE-ADDED INVESTMENTS

Index Return since Inception Value Added (Net of Fees) since Inception

Lipper Fund Rankings

AUM

Since Inception

(in $ billions)

Growth Team

Global Opportunities (Feb 1, 2007)

6.46%

5.38%

18%

10/55

$25.5

Global Discovery (Sept 1, 2017)

12.03%

10.58%

12%

13/114

$2.1

U.S. Mid-Cap Growth (Apr 1, 1997)

10.49%

4.94%

2%

1/58

$16.5

U.S. Small-Cap Growth (Apr 1, 1995)

2.59%

49%

26/53

$6.4

9.01%

Global Equity Team

Global Equity (Apr 1, 2010)

9.58%

3.67%

28%

18/64

$2.9

Non-U.S. Growth (Jan 1, 1996)

5.11%

4.09%

5%

1/22

$21.2

Non-U.S.Small-Mid Growth (Jan 1, 2019)

17.18%

13.05%

17%

6/36

$8.1

China Post-Venture (Apr 1, 2021)1

N/A

N/A

<$0.1

U.S. Value Team

0.50%

Value Equity (Jul 1, 2005)

29%

81/283

$3.7

8.04%

U.S. Mid-Cap Value (Apr 1, 1999)

10.02%

1.85%

17%

10/61

$4.0

International Value Team

International Value (Jul 1, 2002)

6.45%

4.62%

4%

1/24

$27.0

International Small Cap Value (Nov 1, 2020)

28.54%

4.70%

N/A

N/A

<$0.1

Global Value Team

2.15%

Global Value (Jul 1, 2007)

6.01%

5%

2/45

$24.4

Select Equity (Mar 1, 2020)

-3.21%

33.70%

50%

316/635

<$0.1

Sustainable Emerging Markets Team

-0.25%

Sustainable Emerging Markets (Jul 1, 2006)

6.37%

73%

142/195

$0.7

Credit Team

2.07%

High Income (Apr 1, 2014)

5.30%

2%

4/351

$6.9

Credit Opportunities (Jul 1, 2017)

5.61%

5.35%

N/A

N/A

$0.1

Developing World Team

Developing World (Jul 1, 2015)

7.84%

11.96%

1%

3/531

$9.3

Antero Peak Group

Antero Peak (May 1, 2017)

16.12%

10.32%

3%

4/173

$2.9

Antero Peak Hedge (Nov 1, 2017)

15.73%

1.08%

N/A

N/A

$1.0

Sources: Artisan Partners/MSCI/Russell/ICE BofA/S&P. As of March 31, 2021. Value Added (Net of Fees) is the difference between the Artisan strategy composite's average annual return (net of fees) since inception and the returns of the benchmark most commonly used by our separate account clients to compare the performance of the relevant strategy (Index Return). See Notes & Disclosures for information on each investment strategy's relevant benchmark.

  • The China Post-Venture strategy composite performance began on April 1, 2021. As a result, there is not a performance track record as of March 31, 2021.

ARTISAN PARTNERS ASSET MANAGEMENT

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DEGREES OF FREEDOM = OPPORTUNITY

Small- and Mid-Cap Markets in China and US

10,000

$10,196

$9,449

8,000

6,000

5,111

4,000

3,054

2,000

0

Total Market Cap (Billions)

Number of Stocks

China

US

Sources: Bloomberg, Morningstar, CB Insights (www.cbinsights.com/research-unicorn-companies), as of March 31, 2021. Small- and mid-cap markets defined as companies with market capitalizations between $200MM and $20bn (USD).

ARTISAN PARTNERS ASSET MANAGEMENT

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PATIENCE = OPPORTUNITY

Performance

1 Year

3 Year

5 Year

10 Year

Inception

U.S. Value Team

Artisan Value Equity strategy (Jul 1, 2005)

Composite Returns

72.29%

13.40%

14.35%

11.52%

9.37%

Russell® 1000 Value Index

Style Index

56.09%

10.95%

11.73%

10.98%

8.04%

Style Alpha

16.20%

2.45%

2.62%

0.54%

1.33%

Artisan U.S. Mid-Cap Value strategy (Apr 1, 1999)

Composite Returns

88.59%

11.22%

12.24%

10.36%

12.93%

Russell® Midcap Value Index

Style Index

73.76%

10.69%

11.59%

11.05%

10.02%

Style Alpha

14.83%

0.53%

0.65%

(0.69)%

2.91%

International Value Team

Artisan International Value strategy (Jul 1, 2002)

Composite Returns

63.26%

9.68%

11.10%

9.86%

12.11%

MSCI EAFE Value Index

Style Index

45.71%

1.85%

6.57%

3.65%

5.64%

Style Alpha

17.55%

7.83%

4.53%

6.21%

6.47%

Artisan International Small Cap Value strategy (Nov 1, 2020)

Composite Returns

---

---

---

---

34.84%

MSCI ACWI Ex USA Small Cap Value

Style Index

---

---

---

---

33.31%

Style Alpha

---

---

---

---

1.53%

Global Value Team

Artisan Global Value strategy (Jul 1, 2007)

Composite Returns

67.53%

9.95%

12.04%

11.70%

9.20%

MSCI All Country World Value Index

Style Index

48.82%

6.23%

9.05%

6.41%

3.61%

Style Alpha

18.71%

3.72%

2.99%

5.29%

5.59%

Artisan Select Equity strategy (Mar 1, 2020)

Composite Returns

66.49%

---

---

---

31.45%

S&P 500 Value Index

Style Index

50.37%

---

---

---

25.08%

Style Alpha

16.12%

---

---

---

6.37%

Data as of and through March 31, 2021. Sources: Artisan Partners/Factset/MSCI/Russell/S&P. Artisan strategy returns represent composite returns presented gross of fees. For purposes of this presentation, each composite's performance is compared to the style index shown. See Notes & Disclosures for information on market indexes most commonly used by our separate account clients to compare the performance of the relevant strategy. Returns less than one year are not annualized. Past performance is not indicative of future results.

ARTISAN PARTNERS ASSET MANAGEMENT

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Artisan Partners Asset Management Inc. published this content on 27 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2021 20:12:04 UTC.