OBIC Business Consultants Co., Ltd./ADR

• Royce Investment Partners Royce International Premier Fund Manager Commentary ↗ Royce International Premier Fund retained CTS Eventim, Business Engineering, Cochlear, OBIC Business Consultants and Hemnet after valuation-driven selloffs, arguing that network effects, recurring revenue and durable competitive positions remain intact. The portfolio also benefited from XP Power, Maruwa, Dexerials, Ashtead Technology and Diploma, while exiting Intertek after EQT’s acquisition. year-to-date period ended 6/30/26 4828 $524MAT $371MCEVMF $6.4B +8

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