Unless otherwise stated, all information contained in this material is as of 8 March 2022.

Source: First Eagle Investment Analysis, Bloomberg, and FactSet.

Risk Disclosures:

The opinions expressed are subject to change based on market and other conditions. These materials are provided for informational purposes only. These opinions are not intended to be a forecast of future events, a guarantee of future results, or investment advice. Any statistics contained herein have been obtained from sources believed to be reliable, but the accuracy of this information cannot be guaranteed. The views expressed herein may change at any time subsequent to the date of issue hereof. The information provided is not to be construed as a recommendation or an offer to buy or sell or the solicitation of an offer to buy or sell any security. The portfolio is actively managed and holdings can change at any time. Current and future portfolio holdings are subject to risk. The information in this piece is not intended to provide and should not be relied on for accounting, legal, and tax advice. Past performance does not guarantee future results.

Goldman Sachs Commodity Index (S&P GSCI®) is a composite index of commodity sector returns representing an unleveraged, long-only investment in commodity futures that is broadly diversified across the spectrum of commodities. The returns are calculated on a fully collateralized basis with full reinvestment. The combination of these attributes provides investors with a representative and realistic picture of realizable returns attainable in the commodities markets.

The MSCI World Index is a widely followed, unmanaged group of stocks from 23 international markets and is not available for purchase. The index provides total returns in US dollars with net dividends reinvested.

Indices are unmanaged and do not incur management fees or other operating expenses. One cannot invest directly in an index.

Risk Disclosures:

There are risks associated with investing in securities of foreign countries, such as erratic market conditions, economic and political instability and fluctuations in currency exchange rates. These risks may be more pronounced with respect to investments in emerging markets.

An investment in Bitcoin is speculative and entails substantial risks and one could lose all or a substantial amount of his or her investment.

All investments involve the risk of loss of principal.

The principal risk of investing in value stocks is that the price of the security may not approach its anticipated value or may decline in value. All investments involve the risk of loss of principal. Environmental, social and governance (ESG) issues may be factors, among many, that are considered as part of the Global Value Team’s fundamental research process. However, the Global Value Team does not seek to invest in companies based on performance on ESG criteria.

The books mentioned in this webcast are not endorsed by First Eagle Investments. They are for informational purposes only.

FEF Distributors, LLC (“FEFD”) distributes First Eagle products; it does not provide services to investors. As such, when FEFD presents a strategy or product to an investor, FEFD and its representatives do not determine whether the investment is in the best interests of, or is suitable for, the investor. Investors should exercise their own judgment and/or consult with a financial professional prior to investing in any First Eagle strategy or product.

First Eagle Investments is the brand name for First Eagle Investment Management, LLC and its subsidiary investment advisers.

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