INVESTMENT ADVISORY AGREEMENT (8)INVESTMENT ADVISORY AGREEMENT ("AGREEMENT")
BETWEEN.
DRIEHAUS CAPITAL MANAGEMENT LLC ("DRIEHAUS")
AND
CITY OF CLEARWATER EMPLOYEES' PENSION PLAN ("CLIENT")
The Client, City of Clearwater Employees' Pension Plan, hereby employs Driehaus, a Delaware
limited liability company, and Driehaus hereby accepts its appointment by Client as investment adviser
with respect to such assets of the Client as the Client designates from time to time (which, together with
all additions and withdrawals of assets, all income earned by those assets and all realized and unrealized
capital appreciation related to those assets, are hereinafter called the "Account") under the following
terms and conditions:
1. Driehaus Representations Driehaus hereby represents that: (1) It is duly registered
with the Securities and Exchange Commission (the "SEC") as an investment adviser under the
Investment Advisers Act of 1940 (the "Advisers Act"); (ii) it will act in conformity with all written instructions
and directions of the Client; and (iii) it will comply with and conform in all material respects to the
requirements of the Advisers Act and all other applicable federal and state laws, regulations and rulings.
Driehaus acknowledges that it is a fiduciary with respect to the management of the assets of the Client
and that it is subject to and shall be governed by the "prudent investor rule" as those terms are defined
and interpreted under the provisions of the Employee Retirement Income Security Act, and under the
provisions of the law of Florida, including Florida Statutes §112.656 and Florida Statutes Chapter 518.
2. Client Representations (a) The Client represents that: (i) it has the requisite authority to
appoint an investment adviser to manage (including the power to acquire and dispose of) the assets the
Client may designate to the Account; (ii) the person executing this Agreement on behalf of the Client has
the requisite authority required to do so; (iii) this Agreement does not cover other assets of the Client
which are not specifically designated by the Client to be advised by Driehaus; (iv) all individuals named
below are authorized by the Client to give instructions and otherwise act on behalf of the Client (the
"Authorized Persons"); (v) it will deliver to Driehaus such evidence of its authority and the authority of the
Authorized Persons as Driehaus may reasonably require; (vi) it shall notify Driehaus in the event that the
identity of one or more of the Authorized Persons changes; (vii) it has received and reviewed Driehaus'
Form ADV Part 2A; (viii) the terms of this Agreement do not violate any provision of the Client's governing
instruments or any agreement or other obligation by which the Client is bound; and (ix) it has not received
from Driehaus, or any person acting on Driehaus' behalf, any guarantee or representation that any
specific investment result or objective will be achieved by the Client with regard to the Account.
(b) The Client represents and warrants that (i) the Client is, and at all times while this Agreement
is in effect shall remain, excepted from the definition of "investment company" in Section 3 of the
Investment Company Act of 1940; (0) the offer and sale of interests in the Client have been and will
continue to be made in compliance with a valid exemption from the registration requirementsof federal
and state securities laws; and (Hi) the Client will continue to comply in all material respects with the
requirements of all other applicable federal and state laws.
Compliance with the continuing obligations set forth in Section 2(b) shall be the sole responsibility of the
Client, which the Client will periodically confirm upon Driehaus' reasonable request.
(c) The Client represents, warrants and covenants that it is not, and during the term of this
Agreement, it will not be, any of the following: (i) an "employee benefit plan" as defined In, and subject to
the fiduciary responsibility provisions of, the Employee Retirement Income Security Act of 1974, as
amended ("ERISA"), (0) a "plan" as defined in and subject to Section 4975 of the Internal Revenue Code
of 1986, as amended (the "Code"), or (iii) an entity deemed for any purpose of ERISA or Section 4975 of
the Code to hold assets of any such employee benefit plan or plan due to investments made in such
entity by already described benefit plan investors.
(d) Client agrees to immediately notify Driehaus, in writing, upon any change to any
representation or warranty made by Client in this Agreement.
3. Investment Advisory Powers Driehaus is authorized to act for the Client with respect to
the acquisition, retention, management and disposition of such assets the Client may designate to the
Account Subject to the written instructions and directions of the Client, the provisions of this Agreement
and all schedules hereto, the Client hereby grants Driehaus full and unrestricted power and discretion to
supervise and direct the investment and reinvestment of the assets in the Account and to place orders for
the execution of securities transactions as Driehaus deems appropriate, without prior consultation with or
notification to the Client.
4. Investment Obiectives & Restrictions The Client's specific investment objectives for
the Account, as well as any specific investment restrictions which are to be observed by Driehaus, are set
forth on the Schedule of Investment Objectives and Restrictions attached hereto as Schedule A, which is
specifically incorporated herein by this reference. The Client represents that it has no investment
restrictions or objectives which apply to the Account or Driehaus other than those set forth in Schedule A.
In the event that Client restricts a security or securities, Client understands that such restriction(s) may
affect the Account's performance as compared to other accounts of Driehaus that invest in the strategy
described in Schedule A.
5. Compensation The Client shall pay Driehaus for the services to be rendered by
Driehaus under this Agreement in accordance with the Schedule of Compensation attached hereto as
Schedule B and specifically incorporated herein by this reference. Driehaus reserves the right to change
the Schedule of Compensation on sixty (60) days' written notice.
6. Brokerage Placement Practices (a) Driehaus will place the Account's orders for the
execution of securities transactions with or through such brokers, dealers or trading venues as Driehaus
in its discretion determines will provide best execution.
(b) Driehaus may execute brokerage transactions for the Account through brokers or dealers
that also provide brokerage and research services, as defined in Section 28(e)(3) of the Securities
Exchange Act of 1934. The commission paid to such brokers or dealers may be in excess of the amount
of commission another broker would charge for the same transaction. Such services, moreover, may be
available to Driehaus on a cash basis. Before effecting any such transaction, Driehaus will determine in
good faith that the amount of such commission is reasonable in relation to the value of the brokerage and
research services provided by such broker, viewed in terms of either that particular transaction or overall
responsibilities of Driehaus to all of its clients.
(c) Because Driehaus frequently buys and sells the same securities at about the same time
for a number of client accounts, bunched orders are used in seeking timely executions that are consistent
with our order allocation practices. When the Account's orders are aggregated with orders for other
accounts in the same securities, the securities acquired or the proceeds received are allocated among all
participating accounts in accordance with the order allocation policy of Driehaus at the same average
price.
7. Allocation of Transactions (a) Driehaus renders investment advisory services to other
clients and, as such, may effect securities transactions for the accounts of such other clients which are
identical or similar to those which Driehaus may effect for the Account at the same or different times. In a
manner consistent with the policy of Driehaus to use its best efforts to treat all clients and classes of
clients comparably, Driehaus may also give advice or take action with respect to other clients which may
differ from the advice given or action taken with respect to the Account. Without limiting the generality of
the foregoing, Driehaus may also allocate transactions in securities among clients on such basis as
Driehaus determines to be reasonable, including a determination that some clients may not purchase or
sell the securities at the same time or same price as others.
(b) As more fully set forth in Driehaus' Form ADV Part 2A, which has been provided
to the Client, the Client acknowledges that the officers, employees, principals and affiliates of Driehaus
may directly or indirectly buy and sell securities for their own account, including those securities
recommended to clients. Such purchases or sales may be at the same or different times or prices as
Client's purchases or sales.
(c) Driehaus shall have no obligation to acquire or sell any position on behalf of the
Account which Driehaus, its officers, employees, principals or affiliates may acquire or sell for their own
accounts or for the accounts of other clients.
8. Proxy Voting Driehaus shall not be required to take any action or render any advice
with respect to the voting of the stocks held in the Account and the Client shall retain the responsibility for
voting proxies on all stocks held in the Account.
9. Class Actions Driehaus shall not be required to take any action, render any advice or
act for the Client in any legal proceedings, including securities class actions and related claims or
bankruptcies, involving the stocks held in the Account and the Client shall retain the responsibility to
pursue, file and take all action related to any such legal proceedings or claims.
10. Custodian Driehaus shall not be responsible for the custody or safekeeping of the
Account. The Account shall be held by a bank, trust company, broker-dealer or other entity acceptable to
Driehaus and appointed by the Client (the "Custodian"). The Custodian shall at all times be responsible
for the physical custody and safekeeping of the Account and for the collection of interest, dividends and
other income attributable to the Account, and for settling transactions therein. Driehaus shall not be
responsible for the accuracy of information furnished to the Client by the Custodian or any third party. At
Driehaus' request, the Client agrees to instruct the Custodian to (a) provide Driehaus with reports
regarding the amount of cash and cash equivalents in the Account available for investment, (b) settle all
transactions as directed by Driehaus, and (c) provide confirmation in writing to Driehaus of all completed
transactions. The Client may make additions to or withdrawals from the Account at any time, provided
that the Client and/or Custodian gives Driehaus one (1) business day's prior notice of additions and
withdrawals.
11. Indemnification Driehaus, its officers, employees, principals and affiliates and the
Client, its officers, employees, principals and affiliates shall be mutually indemnified for all reasonable
expenses, including reasonable attorneys' fees, incurred in the course of any threatened or actual
litigation or administrative proceedings and for any losses, claims, damages or liabilities resulting directly
or indirectly from any breaches by the other party of the representations made in Paragraphs 1 and 2
above or from the action or inaction of the other party, or any other representative under the other party's
control or acting pursuant to the other party's direction.
12. Termination The Client may terminate this Agreement at any time during the first five (5)
days of this Agreement without owing any fees. In addition, this Agreement may be terminated by the
Client at any time without penalty by giving one (1) business day's prior written notice to Driehaus, or by
Driehaus at any time, without penalty, by giving thirty (30) days' written notice to the Client. Any
termination of this Agreement shall not, in any case, have an effect on or prevent consummation of any
transaction initiated prior to the receipt of notice by Driehaus regarding such termination, and shall not
affect Client's obligation to pay advisory fees (prorated through the date of termination). Notwithstanding
the preceding sentence, in the event that the Client materially breaches any of its representations or
obligations hereunder, Driehaus may terminate this Agreement immediately upon notice to the Client.
13. Assignment No assignment (as that term is defined in the Advisers Act) of this
Agreement shall be made, in whole or in part, without the prior written consent of the Client.
Nonetheless, Driehaus, at its own cost, may hire consultants, accountants, attorneys, service bureaus
and other outside third parties to assist Driehaus in the performance of its duties hereunder. In addition,
Driehaus, at its own cost, may retain, and delegate the requisite authority to affiliates of Driehaus to
perform some or all of the investment advisory powers under this Agreement.
14. Bonding Driehaus shall not provide a bond in connection with its activities as an
investment adviser under this Agreement unless required by law.
15. Liability for Error In making investment decisions for the Account and carrying out its
other functions under this Agreement, Driehaus or its officers or employees may make errors in judgment
or take or omit to take action that results in losses to the Client. In addition, Driehaus may rely on
unrelated third parties, including broker-dealers and custodians, to provide certain services to the Client
for the Account.
The federal securities laws, state laws and ERISA, as applicable, impose liability, in certain
circumstances, on persons who act in good faith. These laws may give the Client the right to
compensation for damages resulting from good faith acts or omissions by Driehaus or its officers or
employees in carrying out their responsibilities under this Agreement. These rights are not waived or
limited. With the foregoing exception, however, the Client agrees that Driehaus and each of its officers or
employees shall be liable to the Client only for their own acts or omissions and not those of unrelated
third parties not subject to Driehaus' supervision or control and only where their acts or omissions were
negligent, reckless, in violation of applicable law, in breach of fiduciary duty, or involved deliberate intent
to harm.
16. Confidentiality The Client consents to the disclosure by Driehaus of the performance of
the Client's Account as part of a composite presentation of all similar strategy accounts. The Client
additionally consents to the inclusion of its name on a partial list of Driehaus' clients that may be provided
to current or prospective clients of Driehaus and their related third parties. All other information and
advice relating to the Account furnished by any party to any other party hereunder, including their
respective agents and employees, shall be treated as confidential and shall not be disclosed to third
parties except as required by law or as demanded by any regulatory or taxing authority having
jurisdiction, it being understood that specific investment information and advice provided by Driehaus
shall be solely for the benefit of the Account and shall not be used by Client or its agents and employees
for another investment purpose.
17. Notices Any notices required hereunder shall be deemed effective when delivered in
person or upon receipt if sent by recognized courier, registered mail, email or facsimile.
18. Amendments This Agreement can be amended only by written document signed by
Driehaus and the Client.
19. Severability Each of the provisions of this Agreement is severable, and the invalidity,
inapplicability or waiver of one or more provisions, in whole or in part, shall not affect any other provision..
20. Counterparts The parties may execute and deliver this Agreement in one or more
counterparts (including by facsimile or other electronic means, including PDF transmission), each of
which constitutes an original, and all of which, collectively, constitute only one agreement between the
parties. A facsimile signature or electronically scanned copy of a signature shall constitute and shall be
deemed to be sufficient evidence of a parry's execution of this Agreement, without necessity of further
proof.
21. Entire Agreement; Governing Law This Agreement is in substitution of all prior
agreements, If any, relating to the Account, and shall be governed by the laws of the State of Florida
(without giving effect to any choice of law provisions). In the event of any dispute arising outof the terms
and conditions of this Agreement, the parties hereto consent and submit to the jurisdiction of the courts of
Pinellas County, State of Florida and of the United States District Court for the Middle District of Florida.
22. Florida Law.
(a) Section 448.095 Florida Statutes. Driehaus agrees to register and use the E -Verify system to
verify the work authorization status of all employees hired on and after the date of this
agreement.
(b) Public Entity Crimes Bill Section 287.133, Florida Statutes, provides that a person or affiliate
who has been placed on the convicted vendor list following a conviction for a public entity
crime may not submit a bid on a contract to provide any goods or services to a public entity,
may not submit a bid on a contract with a public entity for the construction or repair of a public
building or public work, may not submit bids on leases of real property to a public entity, may
not be awarded or perform work as a contractor, supplier, subcontractor, or consultant under
a contract with any public entity, and may not transact business with any public entity in
excess of the threshold amount provided in Section 287.017, Florida Statutes, for
CATEGORY TWO for a period of 36 months from the date of being placed on the convicted
vendor list. Adviser confirms that it is not a convicted vendor subject to these restrictions.
(c) Section 287.135, Florida Statutes. In accordance with Section 287.135(3)(b), Florida
Statutes, this Agreement may be immediately terminated, at no cost to the Plan, in the event
that Driehaus is found to have been placed on the Scrutinized Companies or Other Entities
that Boycott Israel List or is engaged in the prohibited boycott of Israel.
(d) Required Affidavits.
(1)
Section 787.06, Florida Statutes. In accordance with Florida law, Driehaus hereby
represents that they do not use coercion for labor or services as defined in Section
787.06, Florida Statutes as certified by the attached Human Trafficking affidavit
(Schedule C).
(2) Section 237.138, Florida Statutes. In accordance with Florida law, Driehaus
hereby represents that they are not an entity owned by a government of a foreign
country of concern; no govemment of a foreign country of concern has a controlling
interest in the entity; and the entity is not organized under the laws of or has its
principal place of business in a "foreign country of concern", as defined in Section
287.138. Florida Statutes, and as certified by the attached Company Not an Entity
of a Foreign Country of Concern Affidavit (Schedule D).
23. Public Records. In accordance with the provisions of Chapter 119.0701(2), Florida Statutes,
Driehaus must comply with public records laws, specifically to:
(a) Keep and maintain public records required by the Client to perform the service.
(b) Upon request from the Client's custodian of public records, provide the Client with a copy
of the requested records or allow the records to be inspected or copied within a
reasonable time at a cost that does not exceed the cost provided in Chapter 119, Florida
Statutes or as otherwise provided by law.
Ensure that the public records that are exempt or confidential and exempt from public
records disclosure requirements are not disclosed except as authorized by law for the
duration of the term of the Agreement and following completion of the Agreement if the
Driehaus does not transfer the records to the Client.
(e)
(d) Upon completion of the Agreement, transfer, at no cost to the Client, all public records in
possession of Driehaus or keep and maintain public records required by the Client to
perform the service. If Driehaus transfers all public records to the Client upon completion
of the Agreement, Driehaus shall destroy any duplicate public records that are exempt or
confidential and exempt from public records disclosures requirements. If Driehaus keeps
and maintain public records upon completion of the Agreement, Driehaus shall meet all
applicable requirements for retaining public records. All records stored electronically must
be provided to the Client, upon request from the Client's custodian of public records, in a
format that is compatible with the information technology systems of the Client.
IF DRIEHAUS HAS QUESTIONS REGARDING THE APPLICATION OF CHAPTER 119,
FLORIDA STATUTES, TO DRIEHAUS'S DUTY TO PROVIDE PUBLIC RECORDS RELATING
TO THIS CONTRACT, CONTACT THE CUSTODIAN OF PUBLIC RECORDS AT:
Alyssa Gagliardi, Plan Administrator
City of Clearwater Employees' Pension Plan
100 South Myrtle Avenue
Clearwater, FL 33756
Phone: 727-562-4600
E -Mail: Alyssa.Gagliardi@myclearwater.com
Accepted and Agreed to this 15th day of April, 2026.
DRIEHAUS CAPITAL MANAGEMENT LLC
Signature: caw#± hoot )ttk`ama
Name and Title : Janet McWilliams, General Counsel
Address: 25 East Erie Street
Chicago, Illinois 60611
Client: CITY OF CLEARWATER EMPLOYEES' PENSION PLAN
Signature:
Name and Title :
Address: 100 South Myrtle Ave
Clearwater, FL 33756
In addition to the above signatory, the Client designates the following "Authorized Persons" to act on its
behalf in matters related to the Agreement:
Brian Jay Ravins, Finance Director/Plan Treasurer
Name and Title
Monica Mitchell, Assistant Finance Director
Name and Title
Signature
Name and Title
Signature
Countersigned:
Bruce Re
Chair, Pe
ees
Approved as to form:
Owen Kohler
Interim City Attorney
CITY OF CLEARWATER, FLORIDA
By:
Jenni Poirrier
City Manager
Attest:
Rosemarie Call
City Clerk
SCHEDULE A TO
INVESTMENT ADVISORY AGREEMENT
BETWEEN
DRIEHAUS CAPITAL MANAGEMENT LLC ("DRIEHAUS")
AND
CITY OF CLEARWATER EMPLOYEES' PENSION PLAN ("CLIENT")
SMALL CAP GROWTH STRATEGY ACCOUNT
STATEMENT OF INVESTMENT OBJECTIVES AND RESTRICTIONS
The Client's investment objective with respect to the Account is to invest the Account pursuant to
an aggressive, long-term program which maximizes capital appreciation by seeking superior investment
returns over each full market cycle. To achieve this objective, the Client's Account will be invested in an
unleveraged portfolio of equity securities and cash or cash equivalents. The Client's Account will consist
primarily of equity securities traded in the U.S. listed or over-the-counter markets of high growth
companies with outstanding aggregate market capitalizations within the same market capitalization range
at the time of investment as those included in the Russell 2000 Growth Index, although Driehaus may,
however, from time to time cause the Account to invest in companies with higher or lower market
capitalizations. Driehaus may invest the Account in American Depository Receipts and American
Depository Shares.
The Client's portfolio will be invested as similarly as possible to that of a model account of this
investment strategy (the "Small Cap Growth Model Portfolio"), as will the portfolios of other clients of
Driehaus. All of the accounts following the Small Cap Growth Model will generally purchase and sell the
same securities at the same time and at the same average price as the Small Cap Model. In addition to
the securities transactions resulting from the portfolio manager's investment decisions, there may be
purchases or sales in the Account due to the Client's addition or withdrawal of funds. Purchases or sales
of equity securities in the Account occasioned by the addition or withdrawal of funds will be allocated and
executed in a manner intended to keep the Account invested as closely as possible to the Small Cap
Model. As more specifically set forth in Part 2A of Driehaus' Form ADV, companies in which the Account
invests will generally have accelerating sales and eamings growth rates, perceived high earnings quality
and market timeliness (i.e., the likelihood of an upward price movement in the near future). Investments
may also be made in the equity securities of companies which have experienced fundamental
improvements that are not fully reflected in the securities' market prices. The Account may be invested in
stocks of companies that demonstrate several of the above characteristics or, in some instances, in
stocks that do not necessarily fall within any specific category.
Although diversification is not a mandatory criteria used by Driehaus in its selection of
investments, Driehaus does not intend to cause the Account to invest more than five percent (5%) of the
Account, as of the date of purchase, in any ane stock. Exceptions to that limitation will be made as
necessary, upon the initial investment of the Client's funds or the investment of subsequent additional
funds contributed by the Client, in order to create or maintain a portfolio for the Client which as closely as
possible simulates the Small Cap Growth Model Portfolio. In addition, Driehaus may cause the Account
to invest more than five percent (5%) of the Account in one stock from time to time and stocks will not
necessarily be sold merely because they have appreciated to become higher than five percent (5%) of
the value of the Account if Driehaus determines such holdings to be in the best interests of the Account
Similarly, stocks will not nocossarily be sold because the market capitalizations of the underlying
companies have grown to exceed the market capitalization range of the Russell 2000 Growth Index.
Driehaus does not intend to engage in "market timing" by shifting the Account in or out of
securities in anticipation of future market direction changes and, as such, the Account will generally be
fully (Le., ninety percent [90%] or more) invested in equity securities. There may be times, however,
when, due to current market conditions or other factors, Driehaus may cause a greater portion of the
Account to be invested in cash, money market mutual funds or other generally similar cash equivalent
accounts.
The Client understands that it is anticipated that the Client's Account will have a high rate of
portfolio tumover due to the active nature of Driehaus' investment style. Higher portfolio turnover will
result in above-average transaction costs, including greater brokerage commissions than equity
investment styles whose tumover rate is lower. Accounts with significant additions or withdrawals of
funds during any period may have higher portfolio turnover rates.
The Client understands that some negative years in the Account are inevitable in this type of
investment program, based on past stock market performance. Accordingly, the Client acknowledges
that it has a long-term investment time horizon and the ability and capability to experience considerable
volatility in the retum on investment - both positive and negative - over short periods of time.
Unless approved in writing by the Client, Driehaus will not cause the Client to:
(a) make investments for the purpose of exercising control or management over any
company;
(b) purchase securities on margin, participate in a joint trading account, sell
securities short and/or cover such short sales, lend money (except by purchasing publicly traded
debt securities or entering into repurchase agreements), purchase or sell commodities,
commodities futures or real estate investments (although the Account may purchase marketable
securities of entities whose assets consist of such interests) or invest in futures;
(c) purchase an interest in any oil, gas or other mineral exploration or development
program, although the Account may invest in marketable securities of companies whose assets
consist substantially of such interests;
(d) borrow money for the Account or based upon the Account's assets; or
(e) Purchase private placements other than Rule 144A or Regulation S securities.
ACKNOWLEDGED AND AGREED:
CITY OF CLEARWATER EMPLOYEES'
PENSION PLAN DRIEHAUS CAPITAL MANAGEMENT LLC
6142L1L aeric
Signature Signature
Janet McWilliams, General Counsel
Name & Title Name & Title
Date
April 15. 2026
Date
SCHEDULE B TO
INVESTMENT ADVISORY AGREEMENT
BETWEEN
DRIEHAUS CAPITAL MANAGEMENT LLC ("DRIEHAUS")
AND
CITY OF CLEARWATER EMPLOYEES' PENSION PLAN ("CLIENT")
SMALL CAP GROWTH STRATEGY ACCOUNT
SCHEDULE OF COMPENSATION
1. The Client shall pay annual investment advisory fees of 0.60%. The Client shall pay these fees on
a quarterly basis (to be prorated for any period of less than a quarter) based upon the average net market
value of the Account, Including cash and securities, determined, on a trade date basis, as of the close of
business on the last business day of each month during such quarter. Securities listed on a national
securities exchange will be valued at the last quoted sale price (or if no sales occurred, the mean
between the last "bid" and "asked" prices on the largest national securities exchange on which the
securities are listed) on the valuation date. Any other security or asset will be valued in such manner as
determined by Driehaus in good faith.
2. By executing Schedule B, the Client agrees that it will pay Driehaus' fee, calculated as described
in Item 1 above of this Schedule of Compensation, within ten (10) days of receipt of Driehaus' invoice
following the end of each calendar quarter. The invoice will set forth the amount of the fee, how it was
calculated and the value of the Account on which the fee is based.
3. This Schedule of Compensation can be amended from time to time by Driehaus upon sixty (60)
days' prior written notice to the Client.
4. As used herein, all terms have the meaning ascribed to them in the Investment Advisory
Agreement to which it is attached.
ACKNOWLEDGED AND AGREED:
CITY OF CLEARWATER EMPLOYEES'
PENSION PLAN DRIEHAUS CAPITAL MANAGEMENT LLC
/Anti.% WLGWit(,(a/Mx.i
Signature S nature
Janet McWilliams. General Counsel
Name & Title Name & Title
Date
April 15. 2026
Date
SCHEDULE C
Human Trafficking Affidavit
The undersigned, on behalf of Driehaus, hereby attests as follows:
A. Driehaus understands and affirms that Section 787.06(13), Florida Statutes, prohibits the
Board from executing, renewing, or extending a contract to entities that use coercion
for labor or services.
E. Driehaus hereby attests, under penalty of perjury, that Driehaus does not use coercion
for labor or services as defined in Section 787.06(2), Florida Statutes.
I, the undersigned, am an officer or representative of the nongovernmental entity named below, and
hereby represent that 1: make the above attestation based upon personal knowledge; am over the age of
18 years and otherwise competent to make the above attestation; and am authorized to legally bind, and
make the above attestation on behalf of, the Trustee. Under penalties of perjury, I declare that 1 have
read the forgoing document and that the facts stated in it are true. Further Affiant sayeth naught.
Driehaus Capital Management LLC
Authorized Signature: 11.441.t�0iriae-
Date: April IS; 20Z CO
Printed Name: Janet McWilliams
Title: General Counsel
STATE OF ILLINOIS
COUNTY OF COOK
The foregoing instrument was acknowledged before me by means of C'physical presence or D online
notarization, this 15th day of April, 2026, by Janet McWilliams, as General Counsel on behalf of the
company/corporation. They Gare personally known to me or 0 have produced
as identification.
Signature of Notary Public
Ka+111een R. 14 an ahah
Name of Notary Typed, Printed or Stamped
My Commission Expires: 212 f 2021
KATHLEEN H HANNAMAN
OFFICIAL SEAL
Notary Fuhllo • Stats of Illinois
Nyee °�7r°s
SCHEDULE D
COMPANY NOT AN ENTITY OF A FOREIGN COUNTRY OF CONCERN
For purposes of this affidavit, "foreign country of concern" means the People's Republic of China, the
Russian Federation, the Islamic Republic of Iran, the Democratic People's Republic of Korea, the
Republic of Cuba, the Venezuelan regime of Nicolas Maduro, or the Syrian Arab Republic, including any
agency of or any other entity of significant control of such foreign country of concern.
The undersigned, on behalf of the entity listed below hereby attests under penalty of perjury as follows:
1. I am over the age of 18 and I have personal knowledge of the matters set forth herein.
2. I am an officer or representative of Driehaus Capital Management LLC (herein after "Entity"), and
I am authorized to provide this affidavit on its behalf.
3. Entity is not owned by the •government of a foreign country of concern.
4. No government of a foreign country of concern has a controlling interest in Entity.
5. Entity is not organized under the laws of or has its principal place of business in a foreign country
of concern.
6. If, at any time in the future, Entity does become owned by a foreign country of concern, if a
foreign country of concern acquires a controlling interest in Entity, or Entity becomes organized
under the laws of or relocated to a foreign country of concern, Entity will immediately notify the
Pension Fund and no contracts may be executed, renewed, or extended between the parties.
7. I have read the foregoing affidavit and confirm that the facts stated in it are true, and are made for
the benefit of, and reliance by Pension Fund.
Company: Driehaus Capital Management LLC
Authorized Signature:-O1/Yw'('/ia0w"Gut'CIhr-
Date: April 15, 2026
Printed Name: Janet McWilliams
Title: General Counsel
STATE OF ILLINOIS
COUNTY OF COOK
The foregoing instrument was acknowledged before me by means of (/physical presence or 0 online
notarization, this 15th day of April, 2026, by Janet McWilliams, as General Counsel on behalf of the
company/corporation. They Mare personally known to me or 0 have produced as
identification.
(Affix Notary Stamp or Seal)
KATHLEEN R HANRAHAN
OFFIOAL SEAL
Notary Public - State of Illinois
My Commission Expires
Februa 02 2027
KMdchitit i -6An d'LOn
Notary Public Signature h
Print, Type or Stamp Name of Notary: Ko�1tIeenR 4{a»ro. o n
My commission expires: 2..1 2.(202"1