CAN SLIM® Investment ProgramInvestor Presentation

N O R T H C O A S T I N V E S T M E N TA D V I S O R Y T E A M

2 0 3 . 5 3 2 . 7 0 0 0I N F O @ N O R T H C O A S TA M . C O M

N O R T H C O A S T A S S E T M A N A G E M E N T

iShares® and BlackRock® are registered trademarks of BlackRock, Inc. and its affiliates (“BlackRock”) and are used under license. BlackRock makes no representations or warranties regarding the advisability of investing in any product or service offered by NorthCoast Asset Management LLC. BlackRock has no obligation or liability in connection with the operation, marketing, trading or sale of any product or service offered by NorthCoast.

ExperienceFounded in 1988

Based in Greenwich, CT

30+ professionals with designations that include CFA, FRM, CFP® and MS concentrations in economics, statistics, and quantitative and computational finance

100% proprietary research, trading, and portfolio management

Systematic, rules-based investing, and daily risk controls that proved their mettle in drawdowns of 2000 - 2002 and 2008

Exclusive Agreement with Investor’s Business Daily® and ETF Partnership with BlackRock® iShares®

One of few premier selected advisors under Fidelity’s trusted network platform

Stability

Performance

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N O R T H C O A S T C A N S L I M ®

NorthCoast CAN SLIM® invests in leading growth stocks in favorable marketenvironments and scales to cash to preserve gains when bear market risk is high.

Positions are scored, selected and managed through a combination of CAN SLIM®guidelines and a proprietary stock scoring system designed to build acomprehensive growth portfolio.

CAN SLIM® is a system of stock analysis introduced by William O’Neil, founder of Investor’sBusiness Daily® newspaper, and author of the best-selling book: “How to Make Money in Stocks.”O’Neil carefully analyzed the top-performing stocks dating back to 1953 and identified 7characteristics they all shared.

The 7 characteristics provide the foundation for the stock selection methodology in the CANSLIM® Investment Program and are complemented by enhanced signals and metrics utilized byNorthCoast to deliver a long-term growth solution.

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I N V E S T M E N T P R O C E S S

Determine Equity ExposureStep 1

We have found that disciplined, data-driven investing outperforms intuition over time. We utilize comprehensive data sets to discover, interpret and leverage valuable patterns and trends. We implement a market exposure model that utilizes 40+ signals to identify optimal market exposure in changing environments.

Is now a good time to invest?Understanding the factors determining equity exposure

The allocation above is shown for informational purposes only. It can change and is not a recommendation to allocate a portfolio in this manner.4

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Historical Equity Exposure2007 - 2018

I N V E S T M E N T P R O C E S S

Score & Select StocksStep 2

Sample Factors | (C) EBITDA trends vs. enterprise value; (A) Historical earnings yield relative to peer group; (A) Earnings estimates revisions; (N) Stock buy-back or issuance; (S) Stock price movement relative to information flow; (L) Trailing 12-month price trends; (I) Short borrowing activity

C Current Earnings Growth

A Annual Earnings Growth

N New Product or Service

S Supply/Demand of Shares

L Leading Industry

I Institutional Support

M Market Direction

What’s in a name?Understanding the factors determining stock selection

We believe underlying factors drive a stock’s future performance. Our research focuses on identifying these factors. We utilize 21+ individual data points across 7 broad categories.

Founding Guidelines NorthCoast Enhancements

C Current earnings up 20% or moreSustainable, reasonable, and industry-adjusted

A Annual earnings increasing 20% or more

Sustainable, reasonable, and industry-adjusted

N Product, service, or management change provides a catalyst

Analyst estimates of forward earnings impact and relative strength

SShares outstanding should be large and trading volume should be big as the stock price increases

Short interest indicators and share buybacks

L Buy the leading stock in a leading industry

Historical price, profitability and management trends

IInstitutional ownership by mutual funds in recent quarters should be increasing

Sell side analyst recommendations and estimates

M Market should be in a confirmed up trend

Technical indicators complemented with Valuation, Sentiment, and Macroeconomic data points

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P O R T F O L I O C O N S T R U C T I O N

Ability to shift between 0% - 100% equity exposure, based on market environment

Proprietary scoring model with a universe of 3,000+ stocks filtered by CAN SLIM® attributes and enhanced metrics

Holds between 0 – 40 Individual Stocks, targeting a 2% - 4% position weighting

An individual stock SMA that combines variable market exposure and active security selection

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0.57

1.00

CAN SLIM® S&P 500

Beta vs. S&P 500

Lower Volatility.

P O R T F O L I O P E R F O R M A N C E

Market Participation. Less Drawdown.

6.0% 6.4%

CAN SLIM® S&P 500

Annualized Return

-20.4%

-51.4%

CAN SLIM® S&P 500

Maximum Drawdown

Results displayed 1/1/2007 – 12/31/2018. Past Performance is not indicative of future results. All investments involve risk, including loss of principal. NorthCoast Asset Management (NCAM) claims compliance with the Global Investment Performance Standards (GIPS®). Results are presented net-of-fees. Please reference the Appendix for additional disclosure information. 7

B Y T H E N U M B E R S

Results displayed 1/1/2007 – 12/31/2018. Past Performance is not indicative of future results. All investments involve risk, including loss of principal. NorthCoast Asset Management (NCAM) claims compliance with the Global Investment Performance Standards (GIPS®). Results are presented net-of-fees. Please reference the Appendix for additional disclosure information.

Year-by-Year Returns (Net %) Cumulative Returns

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Total Return

Growth of $100,000*

NorthCoast CAN SLIM® 12.4 -12.8 9.7 16.6 -10.1 8.6 28.5 12.4 -5.3 3.0 18.6 -2.1 100.3 $200,261

Tactical Competitor Average 6.3 -24.9 19.6 12.4 -2.9 9.3 8.5 2.7 -5.9 6.2 12.3 -7.7 31.5 $131,509

Aggressive Competitor Average 7.4 -34.4 29.3 13.4 -3.4 13.4 20.9 5.6 -2.7 7.7 16.2 -7.8 62.1 $162,141

S&P 500 Index 4.9 -37.4 25.5 14.4 1.5 15.2 31.5 13.0 0.7 11.2 21.1 -4.9 111.2 $211,226

Annualized Return (Net %) Risk Metrics (since inception vs S&P 500 Index)

1-Yr 3-Yr 5-Yr 10-YrSince

Inception (1/1/2007)

Beta R2 Standard Deviation Correlation Maximum

Drawdown

NorthCoast CAN SLIM® -2.1 6.2 4.9 7.4 6.0 0.57 62.3% 10.6% 0.79 -20.4%

Tactical Competitor Average -7.7 3.3 1.3 5.1 2.3 0.57 87.9% 9.0% 0.94 -34.1%

Aggressive Competitor Average -7.8 4.9 3.4 8.7 4.1 0.85 95.4% 12.7% 0.98 -45.2%

S&P 500 Index -4.9 8.6 7.8 12.4 6.4 - - 14.4% - -51.4%

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O F F E R I N G S F O R E V E R Y I N V E S T O R

Over the past decade, NorthCoast has evolved as a result of investor demand and expanded its separate account offerings.

TransparencyAccess to daily holdings and transactions

LiquidityManaged account structure offers access to capital without lockups

CustomizationAbility to customize portfolio based on risk exposures, investor mandate, or risk/return attributes

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S U M M A R Y

Accessible A $100,000 account minimum

Complementary Does not correlate strongly to typical benchmarks making it an appealing complement to a strategic or asset allocation portfolio

Defensive Able to shift between 100% equity and 100% cash equivalents or anywhere between, depending on market conditions

Disciplined Quantitatively researched and rules-based management

Transparent 24/7 online access. Experienced advisory team readily available to provide portfolio insight and analysis

CAN SLIM® Investment Program is a methodical alternative to passive buy and hold strategies. Consider the following benefits for your clients:

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I N V E S T M E N T T E A M

Patrick Jamin CFA, FRM

Chief Investment Officer

Partner, Numeric Investors (European / World Fundamental Statistical Arbitrage) Partner, Portfolio Manager, Standard Pacific Capital; Global Long/Short Equity Fund Senior Quantitative Analyst, Invesco; Global Quantitative Fund M.B.A., Harvard Business School, Baker Scholar, Arthur Sachs Scholar M.S. Telecommunications, Ecole Nationale Superieure des Telecommunications de Paris Ingenieur de I’Ecole Polytechnique, Ecole Polytechnique

Julia ZhuCFA, FRM

SVP – Market & Security Research

Vice President, Research Affiliates - Quantitative research; equities and asset allocation Associate, First Quadrant – Conducted research on GTAA and tactical currency allocation Master of Economics, Yale University, PhD Candidate M.B.A. with concentration in Finance, University of Southern California

Yaqiu LiSVP – Portfolio Construction

Climate Modeling – National Key Lab of Atmospheric Science, Chinese Academy of Sciences M.S. Quantitative and Computational Finance & M.S. in Statistics, Georgia Tech PhD Candidate CFA Level III Candidate

Slava MalkinSenior Vice President

Quantitative currency trading strategies – BNP Paribas Portfolio Manager of global macro strategies Research in Global Tactical Asset Allocation strategies – Deutsche Asset Management M.S. in Statistics, Harvard University

Jason Krugly Vice President

Research experience with Bank of America, Merrill Lynch, Credit Suisse, Deutsche Bank M.S. in Financial Engineering, Baruch College B.S. & M.S. in Computer Science, Polytechnic Institute of New York University

Sumanth Amarchinta Vice President

Senior Investment Analyst, Pyramis Global Advisors - Quantitative research M.S. in Computer Engineering, Rochester Institute of Technology B.S. in Electrical Engineering, Roorkee Indian Institute of Technology

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APPENDIX

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I M P O R T A N T D I S C L O S U R E I N F O R M A T I O N

The information contained herein has been prepared by NorthCoast Asset Management LLC ("NorthCoast") on the basis of publicly availableinformation, internally developed data and other third party sources believed to be reliable. NorthCoast has not sought to independently verifyinformation obtained from public and third party sources and makes no representations or warranties as to accuracy, completeness orreliability of such information. All opinions and views constitute judgments as of the date of writing without regard to the date on which thereader may receive or access the information, and are subject to change at any time without notice and with no obligation to update. Thismaterial is for informational and illustrative purposes only and is intended solely for the information of those to whom it is distributed byNorthCoast. No part of this material may be reproduced or retransmitted in any manner without the prior written permission of NorthCoast.NorthCoast does not represent, warrant or guarantee that this information is suitable for any investment purpose and it should not be used asa basis for investment decisions.

PAST PERFORMANCE DOES NOT GUARANTEE OR INDICATE FUTURE RESULTS.

This material should not be viewed as a current or past recommendation or a solicitation of an offer to buy or sell any securities or investmentproducts or to adopt any investment strategy. The reader should not assume that any investments in companies, securities, sectors, strategiesand/or markets identified or described herein were or will be profitable and no representation is made that any investor will or is likely toachieve results comparable to those shown or will make any profit or will be able to avoid incurring substantial losses. Performance differencesfor certain investors may occur due to various factors, including timing of investment. Investment return will fluctuate and may be volatile,especially over short time horizons.

INVESTING ENTAILS RISKS, INCLUDING POSSIBLE LOSS OF SOME OR ALL OF THE INVESTOR'S PRINCIPAL.

The investment views and market opinions/analyses expressed herein may not reflect those of NorthCoast as a whole and different views may be expressed based on different investment styles, objectives, views or philosophies. To the extent that these materials contain statements about the future, such statements are forward looking and subject to a number of risks and uncertainties.

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I M P O R T A N T D I S C L O S U R E I N F O R M A T I O N

Past Performance is not indicative of future results. All investments involve risk, including loss of principal.

The firm is defined as NorthCoast Asset Management LLC. NCAM was established in 1988 and is an independent Registered Investment Advisor (RIA) registered with the Securities and Exchange Commission (SEC). The firm is a full service investment management company. The firm specializes in quantitative investment programs. NCAM is located in Greenwich, CT, and is not affiliated with any parent organization and has no other offices operating under the same brand name.

Returns are presented net-of-fees. Net-of-fee returns are reduced by trading costs and the portfolio’s actual management fee. Valuations are computed and performance is reported in U.S. dollars. A complete list of composite descriptions is available upon request. Policies for valuing portfolios, calculating performance, and preparing compliant presentations are available upon request. To obtain a compliant presentation for the associated strategy, please contact one of our advisors at 800.274.5448.

This information contained herein has been prepared by NCAM on the basis of publicly available information, internally developed data and other third party sources believed to be reliable. This material is for informational and illustrative purposes only and should not be viewed as a recommendation or a solicitation to buy or sell any securities or investment products or to adopt any investment strategy.

The CAN SLIM® investment program is a tactical, long-term growth strategy focused on capital appreciation with a secondary objective of downside protection. The strategy invests in leading growth stocks during favorable equity environments and scales to cash to preserve gains when bear market risk is high. The strategy adheres to a flexible investment mandate that allows for allocation shifts that range between 0%-100% exposure to equities. Positions are managed (purchased and liquidated) through a combination of CAN SLIM® guidelines and a proprietary stock scoring system designed to build a comprehensive growth portfolio.

Benchmarks: Tactical Competitor Avg = Morningstar Tactical Allocation Category Average. Tactical Allocation portfolios seek to provide capital appreciation and income by actively shifting allocations between asset classes. These portfolios have material shifts across equity regions and bond sectors on a frequent basis. To qualify for the Tactical Allocation category, the fund must first meet the requirements to be considered in an allocation category. Next, the fund must historically demonstrate material shifts within the primary asset classes either through a gradual shift over three years or through a series of material shifts on a quarterly basis. The cumulative asset class exposure changes must exceed 10% over the measurement period. The S&P 500 Index is used for comparison purposes as it represents a sample of the 500 leading companies in leading industries of the U.S. economy. It is generally considered a proxy for the total market.

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