The four funds launching today provide non-U.S. investors with access to Baron Capital’s proven growth equity investment strategies in U.S. small-cap, U.S. real estate, U.S. high growth, and global large-cap.

Baron Capital, the premier New York-based growth equity investment firm, with a 43-year track record of long-term, fundamental, research-driven investing, today announced the launch of four UCITS Funds: Baron Capital US Small Cap Fund, Baron Capital US Real Estate Fund, Baron Capital US Opportunity Fund, and Baron Capital Global Durable Advantage Fund. Along with Baron Capital Global Advantage Equity Fund and Baron Capital US All Cap Focused Growth Fund, these funds expand the UCITS platform to six strategies, further extending access to Baron Capital’s time-tested investment approach for non-U.S. investors.

Each of the UCITS Funds is managed by experienced portfolio managers who currently lead comparable strategies within Baron Capital’s U.S. fund lineup. These managers have long-standing track records of identifying innovative, high-quality businesses and investing with a disciplined, long-term approach.

• Baron Capital US Small Cap Fund: Portfolio Managers Neal Rosenberg and David Goldsmith have been Co- and Assistant Portfolio Managers, respectively, on two of Baron Capital’s long-term, successful small cap funds (Baron Growth Fund and Baron Small Cap Fund) and will similarly invest for the long term in small-sized U.S. companies that are competitively advantaged with significant growth potential.
• Baron Capital US Real Estate Fund: Portfolio Manager Jeff Kolitch has successfully managed this strategy in the Baron Real Estate Fund since 2009 and will similarly invest in a broad array of real estate businesses with significant growth potential. The fund’s exposures span different real estate and real estate-related industries across all capitalization ranges.
• Baron Capital US Opportunity Fund: Portfolio Manager Michael Lippert has successfully managed this strategy in the Baron Opportunity Fund since 2006 and will similarly invest in high-growth businesses of any market capitalization benefiting from innovation through development of pioneering, transformative, or technologically advanced products and services.
• Baron Capital Global Durable Advantage Fund: Baron Global Durable Advantage Fund represents an extension of the successful investment strategy behind the Baron Durable Advantage Fund. The new investment strategy will invest across a geographically diversified set of companies with durable competitive advantages. Portfolio Managers Alex Umansky and Guy Tartakovsky will invest primarily in equity securities of developed and emerging markets companies throughout the world, with capitalizations within the range of companies included in the MSCI ACWI Index Net USD.

“We’ve had numerous conversations with a growing number of non-U.S. investors who seek actively managed, high-conviction growth strategies. Their investment time horizon and goals closely coincide with what we have achieved in the U.S. market throughout our 43-year history. Today’s launch marks an important milestone for Baron Capital’s global distribution journey, as we bring our proven investment strategies to this client base,” said Michael Baron, Co-President and Portfolio Manager. “Our long-term perspective permits us to think about an investment in a company as a business owner and not as a short-term trader. This focus requires extensive and detailed research to identify those businesses with competitive advantages that other companies cannot replicate. We also believe that people are key drivers of success. We therefore seek companies that are exceptionally well-managed by leaders who are mission driven and can deliver on their long-term vision. This approach has been tested over numerous market cycles, allowing us to deliver attractive long-term returns to investors.”

The launch of the four UCITS Funds expands the range of strategies available to non-U.S. investors, with Baron Capital Global Advantage Equity Fund, managed by Alex Umansky, and Baron Capital US All Cap Focused Growth Fund, managed by Ron Baron, David Baron, and Michael Baron, already available as UCITS vehicles in Denmark, France, Ireland, Luxembourg, Netherlands, Norway, Singapore, Sweden, Switzerland, United Kingdom and will be available in other non-EU/EEA jurisdictions.¹

“We are proud to offer non-U.S. investors access to the same investment strategies and experienced portfolio managers that have defined our success for more than four decades,” added James Stone, Global Head of Product Development at Baron Capital. “The four new funds are a natural next step in expanding our product line and global footprint.”

About Baron Capital

Baron Capital is a premier asset management firm focused exclusively on delivering growth equity investment solutions to institutions, financial advisors, and individual investors. Since its founding in 1982, Baron Capital has been united under one style of investing with a single objective–to be long-term investors in secular growth businesses with durable competitive advantages, run by great management teams. With $44.2 billion in assets under management (as of 6/30/2025) across 20 strategies, Baron Capital prides itself on delivering the best solutions and outcomes for clients globally.

More information about Baron Capital is available by visiting BaronCapitalGroup.com. To speak to a member of the Baron Capital team, please contact:

EU/EEA investors:

Arnaud Gérard, CFA

FundRock Distribution S.A.

Tel: +352691992088

Email: arnaud.GERARD@Fundrock.com

United Kingdom, Swiss, and African investors:

Stephen Millar

Baron Capital Management UK Limited

Tel: +44(0)20 3941 5961

Email: SMillar@baroncapitalgroup.com

Asia Pacific investors:

David Chow

Baron Capital, Inc.

Tel: +1 (212) 583 2081

Email: DChow@baroncapitalgroup.com

Middle East investors:

Rabih Sultani

Baron Capital Management (DIFC) Limited

Tel: +971 50 640 1599

Email: RSultani@baroncapitalgroup.com

¹ Registration applications are pending in Switzerland and United Kingdom for Baron Capital US Real Estate Fund, Baron Capital US Opportunity Fund, Baron Capital US Small Cap Fund, and Baron Capital Global Durable Advantage Fund.

The UCITS Funds are subject to an annual management fee which varies by share class and other expenses which are subject to a cap of 0.15% for all funds and classes. Please refer to each UCITS Fund’s prospectus and supplement for additional information.

Risks: Past performance is not a guide to future performance. The value of investments and income from them may go down as well as up. Your capital is at risk. The Funds invest primarily in equity securities, which are subject to price fluctuations in the stock market. In addition to general market conditions, the value of the Baron Capital US Real Estate Fund will be affected by the strength of the real estate markets as well as by interest rate fluctuations, credit risk, environmental issues and economic conditions. Companies propelled by innovation, including technology advances and new business models, may present the risk of rapid change and product obsolescence, and their success may be difficult to predict for the long term. The Funds invest in companies of all sizes, including small and medium-sized companies whose securities may be thinly traded and more difficult to sell during market downturns.

The discussion of market trends is not intended as advice to any person regarding the advisability of investing in any particular security. The views expressed in this document reflect those of the respective writer. Some of our comments are based on management expectations and are considered “forward-looking statements.” Actual future results, however, may prove to be different from our expectations. Our views are a reflection of our best judgment at the time and are subject to change at any time based on market and other conditions and Baron has no obligation to update them.

Baron Capital Management, Inc. ("BCM") and BAMCO, Inc. ("BAMCO"), are registered investment advisers with the U.S. Securities and Exchange Commission (SEC) and wholly owned by Baron Capital Group, Inc.

This is a marketing communication. This is not a contractually binding document. Please refer to the prospectus of the UCITS and the Key Investor Documents, relevant to your region (i.e. either the PRIIPS Key Investor Document (KID) or the UCITS Key Investor Information Document (KIID)). Do not base any final investment decision on this communication alone.

Baron Capital Management UK Limited is an appointed representative of Vittoria & Partners LLP (FRN 709710) which is authorised and regulated by the Financial Conduct Authority. The appointed representative status enables Baron Capital Management UK Limited to conduct arranging business in the UK. This material has been approved by Vittoria & Partners LLP for distribution to professional investors in the UK.

Baron Capital has partnered with FundRock Distribution S.A., who will distribute Baron’s products and services in the EEA. FundRock Distribution S.A. is a public limited company incorporated under the laws of the Grand Duchy of Luxembourg, registered office at Airport Center Building 5 Heienhaff, L‐1736 Senningerberg, Luxembourg and registered with the Luxembourg trade and companies register under number B253257.

You should note that a KID or KIID is available, together with a prospectus with further detailed information on the Fund. For full risks and investor rights, please see fund prospectus and supplement in English and the KID or KIIDs in one of the official languages of each member state in which the Fund is registered, which are available free of charge at BaronCapitalGroup.com.

The Prospectus as well as a summary of investor rights are available in English. These documents are available at BaronCapitalGroup.com.

Baron Capital may terminate the agreements made for the marketing of the fund pursuant to Article 93a of Directive 2009/65/EC.

Singapore

This material has not been registered as a prospectus with the Monetary Authority of Singapore. The offer or intended offer of shares of the Fund does not relate to a collective investment scheme which is authorised under Section 286 of the Securities and Futures Act, Chapter 289 of Singapore, as amended or modified (the “SFA”), or recognised under Section 287 of the SFA. Accordingly, this material and any other document or material in connection with the offer or sale, or invitation for subscription or purchase, of shares of the Fund may not be circulated or distributed, nor may shares of the Fund be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore other than to an institutional investor under Section 304 or 304A of the SFA.

Sweden

Baron Capital Group, Inc. is not authorised, registered or supervised by the Swedish Financial Supervisory Authority [[or by any other national competent authority in the European Economic Area]]. Baron Capital Group, Inc. does not provide investment services and will not treat any recipient of this information as a client of Baron Capital Group, Inc. This information is for general informational purposes only and does not constitute a distribution, an offer, an invitation, a personal or general recommendation or solicitation to sell or buy any financial instrument or service or to conduct any particular investment activity. This information does not constitute or undertake to give advice of any nature, including fiduciary investment advice. Prospective investors or clients are recommended to seek independent legal, financial and tax advice before making any investment decision. Return to Table of Contents 40 This information may not be made available, nor may the interests in any fund products of Baron Capital Group, Inc. be marketed and offered for sale in Sweden, other than under circumstances which are deemed not to require a prospectus under the Prospectus Regulation (EU) 2017/1129, as amended.

Past performance or historical returns achieved are not a prediction of future performance or a guarantee of future results and there can be no assurance that any returns will be achieved by investments individually or in the aggregate by a financial instrument or product.

Switzerland

The representative in Switzerland is FundRock Switzerland SA, Route de Cité-Ouest 2, 1196 Gland, Switzerland. The paying agent in Switzerland is Banque Cantonale de Genève. The prospectus, constitutional documents, Key Information Document and the annual and semiannual reports can be obtained free of charge from the representative.

Kuwait

This document is not for general circulation to the public in Kuwait. The shares have not been licensed for offering in Kuwait by the Kuwait Capital Markets Authority or any other relevant Kuwaiti government agency. The offering of the shares in Kuwait on the basis of a private placement or public offering is, therefore, restricted in accordance with Law No. 7 of 2010 (the Kuwait Capital Markets Law) (as amended) and the bylaws thereto (as amended). No private or public offering of the shares is being made in Kuwait, and no agreement relating to the sale of the shares will be concluded in Kuwait. No marketing or solicitation or inducement activities are being used to offer or market the shares in Kuwait.

Oman

Baron Capital Management, Inc. neither has a registered business presence nor a representative office in Oman and does not undertake banking business or provide financial services in Oman. Consequently, Baron Capital Management, Inc. is not regulated by either the Central Bank of Oman or Oman’s Capital Market Authority (“CMA”).

The information contained in this document neither constitutes a public offer of securities in the Sultanate of Oman as contemplated by the Commercial Companies Law of Oman (Royal Decree 4/74) or the Capital Market Law of Oman (Royal Decree 80/98), nor does it constitute an offer to sell, or the solicitation of any offer to buy Non-Omani securities in the Sultanate of Oman as contemplated by Article 139 of the Executive Regulations of the Capital Market Law (issued by Decision No.1/2009). Additionally, this document is not intended to lead to the conclusion of a contract for the sale or purchase of securities.

This document has not been approved by the CMA or any other regulatory body or authority in Oman, and no authorization, license or approval has been received by Baron Capital Management, Inc. from the CMA or any other regulatory authority in Oman, to market, offer, sell, or distribute the securities within Oman. Baron Capital Management, Inc. does not advise persons or entities resident or based in Oman as to the appropriateness of investing in or purchasing or selling securities or other financial products. Nothing contained in this document is intended to constitute Omani investment, legal, tax, accounting or other professional advice.

The recipient of this document represents that it is a financial institution or a sophisticated investor (as described in Article 139 of the Executive Regulations of the Capital Market Law) and that its officers/employees have such experience in business and financial matters that they are capable of evaluating the merits and risks of investments.

Qatar

The materials contained herein are not intended to constitute an offer, sale or delivery of the shares or other financial products under the laws of Qatar. The shares have not been and will not be authorised by the Qatar Financial Markets Authority, the Qatar Financial Centre Regulatory Authority or the Qatar Central Bank in accordance with their regulations or any other regulations in Qatar. The shares are not and will not be traded on the Qatar Stock Exchange.

Saudi Arabia

This document may not be distributed in the Kingdom except to such persons as are permitted under the Investment Funds Regulations issued by the Capital Market Authority. The Capital Market Authority does not make any representation as to the accuracy or completeness of this document, and expressly disclaims any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this document. Prospective purchasers of the securities offered hereby should conduct their own due diligence on the accuracy of the information relating to the securities.

UAE

The Fund is a UCITS ICAV (an Irish collective asset management vehicle) and will be managed by BAMCO, Inc., domiciled in the U.S.A. regulated by the U.S. Securities and Exchange Commission. The management company of the Fund is FundRock Management Company S.A. In accordance with the provisions of the United Arab Emirates (UAE) Securities and Commodities Authority’s (SCA) Board Decision No. (9/R.M) of 2016 Concerning the Regulations as to Mutual Funds, the shares in the Fund to which this prospectus/KIID relates may only be promoted in the UAE as follows: without the prior approval of SCA, only in so far as the promotion is directed to (i) financial portfolios owned by federal or local governmental agencies; (ii) investors following a reverse enquiry; or with the prior approval of the SCA. Any approval of the SCA to the promotion of the Fund units in the UAE does not represent a recommendation to purchase or invest in the Fund. The SCA has not verified the prospectus/KIID or other documents in connection with this Fund and the SCA may not be held liable for any default by any party involved in the operation, management or promotion of the Fund in the performance of their responsibilities and duties, or the accuracy or completeness of the information in the prospectus/KIID.

The Fund shares to which this prospectus/KIID relates may be illiquid and/or subject to restrictions on their resale. Prospective investors should conduct their own due diligence on the Fund shares. If you do not understand the contents of this document you should consult an authorised financial advisor.

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